OVN Staking

OVN staking allows OVN holders to earn passive rewards while supporting the Overnight ecosystem.

What is OVN Staking?

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+)

How Does It Work?

Yield Generation & Distribution

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.

Collateralization

• 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

Monitoring Stats

Track OVN+ staking performance through Stats page, which displays OVN+ TVL, Daily APY and payouts history.