OVN Staking
Last updated
Last updated
OVN staking allows OVN holders to earn passive rewards while supporting the Overnight ecosystem.
OVN staking introduces a yield-generating mechanism built on our proven and audited USD+ technology. Users who hold OVN tokens can stake them on the Overnight platform to receive (mint) OVN+ tokens at a 1:1 ratio. The system features:
Zero minting fees when staking OVN
Instant redemption available with a 2.5% fee
Rewards for OVN+ holders are automatically added to their OVN+ balances daily via the rebase mechanism developed for Overnight Tokens+ (i.e., USD+)
OVN+ holders earn yield from skims collected on USD+ pools on Base. Here's how it works:
20% of daily skims from USD+ pools on Base are allocated to OVN stakers (Dune Analytics data on all USD+ pools and skims)
These funds are used for market buybacks of OVN, which is then converted to OVN+.
Additional OVN+ is distributed to stakers' balances daily through rebases.
Every OVN+ token is fully backed by staked OVN
Additional OVN accumulated through buybacks ensures the total OVN collateral always equals or exceeds OVN+ in circulation
OVN+ rebases occur when accumulated OVN exceeds the required backing
Track OVN+ staking performance through Stats page, which displays OVN+ TVL, Daily APY and payouts history.
