The current real-time price of OPEN is $0.6319. In the past 24 hours, OPEN has traded between $0.6225 and $0.6712, showing strong market activity. The all-time high of OPEN is $1.97, and the all-time low is $0.6225.
From a short-term perspective, the price change of OPEN over the past 1 hour is , over the past 24 hours is -0.55%, and over the past 7 days is -5.57%. These figures provide a quick overview of the latest price trends and market dynamics of OPEN on LBank.-8.84%
The live price of OPEN today is $0.6319, with a current market cap of $330.791K. The 24-hour trading volume is 6K. The price of OPEN to USD is updated in real time.
Before deciding whether to buy or sell OPEN, you should first consider your own trading strategy. Long-term traders and short-term traders follow different trading approaches. LBank’s OPEN technical analysis can provide you with trading references.
What will the value be? You can use our price prediction tool to conduct short-term and long-term price forecasts for OPEN.
How much will OPEN be worth tomorrow, next week, or next month in ? What about your OPEN assets in 2025, 2026, 2027, 2028, or even 10 or 20 years from now? Check now! OPEN Price Prediction
Top 5 addresses | Holding amount | Holding ratio | |
|---|---|---|---|
ethereum | 0xabae...f0e745  | 337.054K | 65.44% |
ethereum | 0xcbcd...901738 | 47,707 | 9.26% |
ethereum | 0xf060...1045f8 | 20,803 | 4.04% |
ethereum | 0xb7d4...84e66b | 18,300 | 3.55% |
ethereum | 0x9a9a...96e0ff | 17,299 | 3.36% |
Other | 73,925.76 | 14.35% |
The Open Stablecoin Index (OPEN) is a decentralized instrument that tracks a basket of prominent stablecoin infrastructure and DeFi protocols. Launched by SQUID DAO on the Ethereum blockchain, it uses the Reserve Protocol’s Decentralized Token Folio (DTF) system to provide diversified exposure to the ecosystem. Rather than holding a single stablecoin, users hold $OPEN to gain exposure to the protocols that govern and support the stablecoin market.
The $OPEN token operates on the Ethereum Mainnet with the contract address 0x323c03c48660fe31186fa82c289b0766d331ce21. It can be added to compatible Web3 wallets by importing this specific address. The token features an elastic supply mechanism, where the number of tokens in circulation fluctuates based on the direct minting and redemption actions of users within the protocol, rather than being limited by a fixed cap.
Governance for the index is managed through a separate token called $SQUILL. While $OPEN is the index token held for price exposure, $SQUILL is the utility token used for protocol management. To participate in decision-making, holders must "vote-lock" their $SQUILL to become Governors. This allows them to propose or vote on changes to the index, such as adding or removing components like $AAVE, $FRAX, or $RSR, while earning a portion of protocol fees.
Users can stake $OPEN via dedicated portals to secure the protocol and earn rewards. Staking is often incentivized to ensure protocol stability. While standard single-asset staking for $OPEN does not carry the risk of impermanent loss commonly found on decentralized exchanges, participants should be mindful of smart contract risks and the general volatility associated with the underlying governance assets contained within the index basket.
The index employs a quarterly rebalancing strategy to maintain its equal-weight composition, ensuring all components are reset to the same percentage of the total value. Regarding costs, the protocol typically implements an annualized management fee of 0.75% based on the total value locked (TVL). Additionally, a 0.3% fee is applied to the minting and redemption of $OPEN tokens to support the protocol's sustainability.
The $OPEN index is built on the Reserve Protocol, which has been audited by industry-leading firms such as Trail of Bits and Ackee. Because the index is equal-weighted, the impact of a single component's failure or a stablecoin de-pegging is mitigated by the other assets in the basket. Furthermore, $SQUILL governors have the authority to vote and remove any failing protocols from the index during rebalancing periods to protect the overall integrity of the instrument.
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