OUSD Yield in Incognito?

[whattheclap]

If I swap my pDAI for pOUSD on the pDEX, will my balance grow in my wallet like it does on Ethereum? OUSD is a stablecoin that automatically invests in DeFi, so it would make an OUSD holder’s balance increase in their wallet – would it work like this on the Incognito network too?

[Chucky]

Hmm. I dont think this could work with incognito. And may need a bit more info about OUSD, let me ask, so daily you get dividends from holding the coin? Or is it something similar to “rebase” tokens where supply constantly moves?

[whattheclap]

I haven’t been able to play around with it yet as I’m still waiting for my OUSD mint to confirm on the Ethereum mainnet, but based on what I’ve seen, a holder’s OUSD balance constantly increases based on the current APY it gets.

[Stradimarius]

Those kind of tokens are not supported

Unsupported ERC20 tokens on Incognito

ERC20 tokens are becoming increasingly popular. We’ve received many requests about adding rebase tokens (AMPL, YAM, etc…) and modified smart contract tokens (DGX, PAXG, etc…). As the Incognito bridge is trustless, anyone can transfer ERC20 tokens across by interacting directly with the chain. This means that anyone can add any ERC20 with a rebase feature. However, we do NOT recommend doing so as Incognito’s minting/burning process does not play well with rebase mechanisms. Our current smart co…

[marko]

Correct
@Chucky, OUSD is rebasing token so no need to look into anything.

[whattheclap]

Interesting, I checked the pDEX and it does route through Kyber for OUSD, so how does that work?

[andrey]

Unfortunately, experience shows that not all users do it on time, so we can’t guarantee that your OUSD will match your rebased amount. Technically you can still shield and swap before the rebase happens, but it’s at your own risk.