OpenDAO Partnership With Mettalex

OpenDao partnership with Mettalex, USDO holders will soon be able to mint Tesla long and shorts on the Mettalex platform, and earn MTLX

THE LONGS (HOW TO): Part I

Use USDO to Trade Tesla Inc. Shares

Mettalex has kindly recorded a video walkthrough that can be accessed on YouTube. For written step-by-step instructions — see below.

Step 1: Log into Mettalex DEX using one of the available options — a MetaMask or a Torus wallet.

NOTE: Make sure your MetaMask wallet is connected to the Binance Smart Chain network.

Step 2: Select “Trade” on the startup page:

NOTE: You will need both BNB and USDO tokens to be able to trade on the DEX. You can get USDO tokens by staking MTLX on Omnicomp. Alternatively, you can buy USDO with BUSD or CAKE on Omnitrade.

Step 3: From the drop-down menu select the type of collateral you want to use — in this case, that will be USDO.

Step 4: In the bottom-right part of the page click “Trade”, select the type of collateral (USDO) in the “From” field, and the short or long Tesla token you would like to buy. Enter the amount of USDO you want to use to buy a long or short position and click on the “Trade” button below. Once you confirm the MetaMask transactions, the “My Wallet” section will update, together with the P&L table below the chart.

THE LONGS (HOW TO): Part II

How to Deposit USDO Liquidity and Start Yield Farming MTLX Tokens

Mettalex has recorded a short video walkthrough focused on depositing USDO liquidity and then staking it to start yield farming. Access it on YouTube. For written step-by-step instructions — see below.

Step 1: Log into Mettalex DEX using one of the available options — a MetaMask or a Torus wallet.

NOTE: Make sure your MetaMask wallet is connected to the Binance Smart Chain network.

Step 2: Select “Supply Liquidity” on the startup page:

NOTE: You will need both BNB and USDO tokens to be able to trade on the DEX. You can get USDO tokens by staking MTLX on Omnicomp. Alternatively, you can buy USDO with BUSD or CAKE on Omnitrade.

Step 3: From the drop-down menu select the type of collateral you want to use — in our case this will be USDO:

Step 4: On the lower-right-hand side of the screen, you’ll see the “Deposit” section. Your USDO balance will be displayed in both — the “My Wallet” and “Deposit” sections.

Step 5: Enter an amount of USDO you would like to deposit and click “Deposit”. You can also use the four pre-defined percentage buttons for convenience.

Step 6: Once you confirm the MetaMask transactions, your mxUSDO balance in the “My Wallet” section will be updated. Click on “MTLX Rewards” and manually enter your mxUSDO balance in the field, then click “Stake”.

Step 7: Once all MetaMask transactions go through, the “Balances” section will be updated to display the amount of mxUSDO tokens you have staked. Congratulations, you are now yield farming MTLX tokens!

About Mettalex

Mettalex is the world’s first DEX that’s focused on token-based commodities trading. Accessible 24/7 with tight trading spreads, low margin requirements, and unique hedge instruments that ensure their uses don’t get liquidated prior to settlement dates.

About OCP

Omni Consumer Protocols is a BSC native DeFi conglomerate.

It’s the friends we meet along the way…

OCP were the grant recipient’s in OpenDAO’s grant to build a minter for $USDO on BSC, which is live now at omnicomp.ocp.finance. There are also farms at omnifarms.ocp.finance. Omnitrade.ocp.finance.

About OpenDAO

OpenDAO (OPEN) serves as a bridge for real-world assets to cross over into the growing DeFi infrastructure. The goal is to bring more value into the space by providing exposure to real estate, stocks, and more… all in a uniquely permissionless and seamless manner.

Source:
https://medium.com/opendao/stake-usdo-stablecoin-mint-tsla-longs-shorts-and-earn-mtlx-844b111d460c