FAQ - Ooki

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FAQ

Get answers to frequently asked questions about Ooki Protocol.

What can users do on Ooki?
Ooki users can engage in margin trading with up to 15x leverage using a fully decentralized trading platform.
Ooki users can lend out funds and earn interest on their capital, and also borrow funds against collateral.
Ooki users can Stake their Ooki Tokens in order to earn a portion of fees generated by the platform. 
Ooki users can participate in platform governance through the OOKI DAO, and use their OOKI tokens to vote on proposals, submit new proposals, and participate in platform governance.  
How safe is Ooki?
Governed by DAO
Ooki is governed by the Ooki DAO which votes on proposals via the Ooki DAO governance mechanism. 
Secure Oracles
Chainlink’s decentralized oracle network is used for price information.
Insurance Fund
If undercollateralized loans are not properly liquidated, lenders are repaid from a pool funded by 10% of the interest paid by borrowers.
Open source
As one of the founding principles of DeFi, we’re committed to interoperability and the development of open source code. 
Fully Audited
Ooki's code has undergone audits by leading Auditing firms. 
What are the fees involved when opening a loan on OOKI?
When opening a loan there is a 0.09% origination fee on the principle. Interest is also paid for the life of the loan.
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Which Chains is Ooki Deployed on?
Ooki is currently deployed on Ethereum L1, Arbitrum, Polygon, and Binance Smart Chain. 
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