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On this page
  • What is OVN Staking?
  • How Does It Work?
  • Monitoring Stats
  1. Core concept

OVN Staking

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Last updated 3 months ago

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:

  • 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

20% of daily skims from USD+ pools on Base are allocated to OVN stakers ( data on all USD+ pools and skims)

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

Dune Analytics
Stats page