- Website: https://opultent.finance
- dApp: https://opulentfi.netlify.app/
- Contract: Arbitrum Blockscout
Opulent aims to bridge the gap between traditional precious metals markets and decentralized finance (DeFi). By tokenizing silver on the Arbitrum network, we're making it possible for users to gain exposure to silver prices without the need for physical storage, while also enabling new DeFi use cases for silver-backed assets.
Opulent is a DeFi protocol that creates an ERC20 token (opXAG) representing silver, backed by ETH collateral. Built on Arbitrum for low-cost, fast transactions, the protocol features:
- 150% collateralization ratio for stability
- Minting and burning mechanisms for opXAG tokens
- A built-in liquidity pool for opXAG/ETH swaps
- Integration with Chainlink price feeds for accurate pricing
- Transparent calculations and collateralization monitoring
Users can mint opXAG by providing ETH collateral, burn opXAG to reclaim ETH, or trade directly in the protocol's liquidity pool.