Ooki Updates: And The Road Ahead
The cryptocurrency market has been buzzing with action lately, as new developments shape the industry’s future. Bitcoin took the spotlight, soaring to $73,600 on October 29, 2024—just shy of its all-time high of $74,000 from March. This surge has been largely fueled by anticipation surrounding the U.S. presidential election, with both major candidates, Donald Trump and Kamala Harris, signaling pro-crypto stances. The potential for crypto-friendly policies on the horizon is sparking optimism among investors.
But it’s not just the numbers making headlines. The U.S. Department of Justice has re-initiated its probe into Tether, the leading stablecoin issuer, investigating potential sanctions and anti-money laundering breaches - again... while Michael Saylor and his MicroStrategy, the largest public holder of Bitcoin, is doubling down on its crypto commitment. The company recently announced a plan to raise over $40 billion to add more Bitcoin to its reserves over the next three years (which did not sit well with some MSTR investors and pushed the stock into the red) —a bold endorsement of Bitcoin’s long-term value as a strategic asset.
From Meme to Mission
With all these dynamic shifts unfolding in the wider crypto world, you might be wondering—"But ser, what's happening at Ooki?"
Well, big changes are underway... 😏
Ooki is gearing up for a big transformation, moving away from its meme beginnings toward a more mature, sophisticated DeFi ecosystem.
"Wut? Another rebranding..?"
Yes, but THIS rebranding reflects not just a visual facelift but a shift in the project’s core mission and capabilities, creating a more professional and user-centered experience that the DeFi community can rely on.
A New User Interface and Backend Overhaul
Ooki has been hard at work, reimagining the user interface to create a streamlined, intuitive experience. This updated UI isn’t just about aesthetics; it’s built to support seamless interaction with new, powerful features. The redesigned backend environment has been crafted to support future innovations. This upgrade lays the groundwork for a more flexible, scalable platform that anticipates and adapts to user needs. And it looks damn good.... Wanna see? 👀
And yes, those blurred spots might just be hiding a new name. Not really... Maybe... That's classified. 😉
What else?
DAO-Led Expansion: Strategic Moves for Growth
Recently, some of Ooki’s larger DAO holders joined forces to ensure the longevity of the project. In a DAO vote, they expanded the token supply, providing funds to procure a major exchange listing and secure future development of the rebrand. The assets designated for the exchange listing and the project’s continuity are safely secured under time-locked DAO treasury control, maintaining transparency and security.
In a carefully timed decision, they guided the DAO to announce this increase two days later to prevent any front-running activity, ensuring a fair market reaction. With this expansion, the maximum supply has now been set at 13.8 billion OOKI, marking a significant step forward in Ooki’s long-term growth strategy.
Proceeds of sales can be found in the DAO treausury which can be found here:
https://etherscan.io/address/0xfedC4dD5247B93feb41e899A09C44cFaBec29Cbc
About Ooki
Ooki is a protocol for margin trading, borrowing, lending and staking enabling the building of Decentralized Applications for lenders, borrowers, and traders to interact with the most flexible decentralized finance protocol on multiple blockchains. Ooki is a fully decentralized, community-run DAO, governed by the community vote for all major changes to the protocol. Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.