Today, we are pleased to announce the launch of the Oasis Multiply functionality. What does this mean? Now, on Oasis.app you are able to immediately utilize your generated DAI to buy more collateral without having to leave Oasis.app. Also, you can now increase or decrease your exposure to your favourite cryptocurrencies by opening a Maker Vault, borrowing DAI, and using that DAI to buy more collateral - all in a single transaction!
You can deposit your collateral now, and get up to 4x on your ETH, for example, in leverage-like trading all while maintaining the security of the Maker protocol.How to open a Multiply Vault Oasis Multiply Functionalities
Oasis Multiply, which is built on top of the Maker Protocol, 1inch DEX aggregator and Aave, allows users to borrow Dai and create Multiply Positions, which are similar to leveraged or margin positions but without the need to borrow funds from a centralised counterparty.
Overall, the approach in Oasis differs from existing models because instead of traditional options, such as counterparties lending users traditional fiat money for assets (like stocks), users access Dai by utilizing Vaults on the Maker Protocol. A user deposits collateral in a Vault to self-generate Dai as a funding source to purchase more collateral, multiplying their exposure to the asset.
With Oasis Multiply, you can now use your ETH, wBTC or other Maker supported collateral types to create a Multiply position (up to 4x*) and take advantage of upward trends of the supplied collateral.
This first release of Multiply includes the following features:Opening a multiply position without the need of a pre-existing Vault Converting a regular position (existing Borrow Vault) to a multiply position Increasing your risk without adding new collateral Decreasing your risk without adding new collateral or sourcing Dai on the market for when prices are dropping One-click vault closing without t...