OpenLeverage V2 - Pushing Edge of Permissionless Finance

3 min readAug 30, 2023



  • The platform will transition to full decentralization, governed by a DAO.
  • Our tokenomics have been re-engineered to empower permissionless market participants, offering new utilities for the OLE token.
  • Smart Vault will be introduced for increased capital efficiency.
  • More improvements include the new OLE Bridge with Layerzero OFT, revamped UI, and enhanced mobile support through PWA.
  • OpenLeverage V2 is progressively released till the end of 2023.

Since its inception in 2021, OpenLeverage has been steadfast in its mission: to construct a permissionless decentralized finance platform that democratizes access to financial tools for everyone everywhere. We embarked on this journey with the vision of creating a platform that supports an extensive range of over 600 tokens for margin trading, lending, and over-collateralized borrowing. This was more than just a technical feat; it was a call to arms to redefine what's possible in finance.

Building upon this strong foundation, we've continually innovated to provide a robust, scalable, incredibly efficient, and community-driven platform.

As we advance, we are thrilled to announce the launch of OpenLeverage V2, a significant upgrade that marks the next chapter in our ongoing story of innovation, efficiency, and decentralization.

OpenLeverage Today

Thus far, OpenLeverage has achieved significant milestones with smart contracts governed by a multi-sig wallet steered by our dedicated core team. This approach has temporarily balanced flexibility and security, but as we look forward, we see smart contract-based control as the only way to grow the protocol.

Our existing tokenomics model is ripe for refinement to capitalize on permissionless markets' dynamism fully. This will allow us to create a more agile and responsive liquidity framework that tailors to the unique demands of various trading and borrowing scenarios. Likewise, we're eager to further weave the utility of our native OLE token into the fabric of market participation.

Currently, much of our tokenomics operates on an off-chain governance model. While this has been effective, a move towards fully on-chain governance will better align with our overarching vision of a seamless, decentralized financial ecosystem.

As for liquidity, we've observed that it is currently dispersed across multiple markets. This has resulted in some pools reaching high utilization rates, effectively maximizing their potential, while others are yet to be fully utilized. This represents not a shortcoming but an opportunity for us to optimize capital efficiency and meet the needs of our growing user base.

OpenLeverage V2

Fully Decentralized Governance Through DAO
Transitioning from a multi-sig wallet system managed by the core team, OpenLeverage V2 is shifting towards a DAO-based governance model. This move empowers the community, turning users into stakeholders with a genuine say in the platform's development and future.

Redefined Tokenomics
The new tokenomics model is re-engineered to be more adaptive to the permissionless marketplace. From staking and voting to trading for market ownership, the versatile utility of the OLE token will now be more deeply integrated into our ecosystem.

Capital Efficiency With Smart Vault
Capital efficiency gets a substantial upgrade with the introduction of Smart Vault. This innovative feature maximizes liquidity by smartly routing it where it is most needed, ensuring that no capital goes unused or idle.

In addition to the three pillars above, we are exploring to include in the V2 protocol:

  • New OLE Bridge with Layerzero OFT
    A crucial part of our cross-chain functionality, this feature ensures the seamless transfer of assets across multiple blockchains.
  • User Experience Reimagined
    Ease of use is essential, and we're committed to providing an unrivaled user experience. Expect a revamped UI and better mobile accessibility through PWA, designed to make your OpenLeverage journey smoother and more intuitive.

Through OpenLeverage V2, we aim to eradicate the limitations that have constrained DeFi, propelling the platform into a new era of accessibility, efficiency, and community-centric development.


OpenLeverage V2 will be progressively released before the end of 2023. As it represents many critical components and improvements, it will require months of heads-down building and getting them through security audits. We will release more information on the releases over the coming weeks.

Meanwhile, join the Discord #feedback-n-ideas channel discussion to tell us what you think of OpenLeverage V2.