Ooki 2.0 is live on Ethereum and bringing all the latest features previously rolled out on Ooki’s L2 deployments. 

Ooki is bringing Ooki version 2.0 to Ethereum along with all the latest features enabled by dynamically adjusting interest rates. Following successful passage of OOIP-11 on chain vote the Ethereum deployment has been upgraded to use the interest rates v2 algorithm. Here are a few examples of what can now be performed on Ooki’s Ethereum deployment:

• Removal of open position rollovers.
• Dynamically adjust rates to ensure borrowers and lenders receive optimal rates when opening new positions on Ooki.
• Target an 80% utilization rate and will keep pools optimally utilized.
• Variable rate model, indefinite term loans, instead of fixed-rate loans with 28-day rollovers.
• Dynamically changing rate curve.  

The purpose of Ooki's dynamic interest rate mechanism is to ensure borrowers and lenders receive optimal rates when opening new positions on Ooki. Ooki’s approach to delivering optimal rates to lenders and borrowers uses a variable interest rate with a dynamically changing interest rate curve. The new dynamic interest rate system is preferable because it will allow liquidity pools to grow larger.

Overall, Ooki’s new dynamic interest rates will improve the experience for borrowers and lenders by introducing a variety of significant overhauls to how lending and borrowing rates are calculated.