Opium Coin Price & Market Data
Opium price today is $2.17 with a 24-hour trading volume of $135,384. OPIUM price is down -1.6% in the last 24 hours. It has a circulating supply of 6.7 Million OPIUM coins and a max supply of 100 Million. If you are looking to buy or sell Opium, Sushiswap is currently the most active exchange.
What is OPIUM?
OPIUM is the governance token for the Opium protocol.
How to obtain OPIUM?
What is Opium Finance?
Opium is a decentralized derivative protocol.
It offers two products: USDT de-pegging insurance and a fixed interest rate investment product.
What is the USDT de-pegging insurance?
Users can buy cover for USDT de-pegging risk. Opium designed the product by allowing users to have USDC if USDT is de-pegged.
For example, if a user purchases a 100 USDT cover and if USDT drops by more than 5% compared to USDC, the cover holder will receive 100 USDC.
Like Cover Protocol, the covers are sold on a series of dates decided beforehand, so users do not have flexibility in choosing the date and period. Plus, the availability of covers is minimal.
On the other side, users can lend out USDC to Opium for Opium to sell the covers.
What is the fixed interest rate product?
Opium utilizes Compound for lending. Opium divides the yield received into two tranches:
Users that deposit DAI into the pool are expected to receive a fixed interest rate of 5%.
If the variable lending rate of Compound is lower than 5%, then the lending return and staked amount from the Junior tranche are at risk to be forfeited to pay the senior tranche. As a reward for taking the risk, this tranche will receive all the excess interest if Compound’s lending rate is above 5%.