Overnight provides on-chain yield generation through proprietary delta-neutral strategies collateralized by assets convertible to USDC. Users mint Tokens+ to receive daily rebasing yield based on collateral performance, which can be utilized across DeFi protocols. The platform offers various yield options and insurance products to manage risk exposure for token holders.
Funding
$250K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
In the DeFi space, investors often struggle to find stable and reliable yield opportunities due to market volatility and the complexity of actively managing assets across multiple protocols. Existing solutions may require constant monitoring and adjustments to maintain desired risk profiles and returns.
Solution
Overnight Finance offers a suite of passive yield products, including USD+ and other "+Tokens," designed for stablecoin investors seeking consistent returns with mitigated risk. The protocol employs proprietary delta-neutral strategies to generate yield from DeFi protocols like Aave and Uniswap V3, automatically rebalancing assets to maintain a neutral risk profile. Yield is distributed daily to token holders through a rebasing mechanism, increasing token balances while maintaining a stable 1:1 peg to USDC. To protect against potential losses, Overnight Finance utilizes its native OVN token to provide insurance, absorbing initial losses and enabling the protocol to pursue riskier, higher-yield strategies.
Target Audience
Overnight Finance targets conservative stablecoin investors and DeFi users seeking passive, reliable yield opportunities with minimized risk exposure.
Features
- "+Tokens" that maintain a 1:1 peg to their underlying asset (e.g., USD+ pegged to USDC)
- Daily yield distribution via a rebasing mechanism, increasing token balances automatically
- Delta-neutral strategies that automatically rebalance assets to minimize market risk
- Insurance mechanism using the OVN token to protect against negative rebase events
- "Zap In" feature for seamless investment into various DeFi pools
- Support for multiple blockchain networks, including Optimism, Arbitrum, and Base
- Governance through the OVN token, allowing community participation in risk management and strategy selection
- Integration with DeFi protocols like Aave and Uniswap V3 to generate real yield