How it works

Learn how to participate in the money markets, claim rewards, get Boosted OMM, vote, provide OMM liquidity, and more.

New users

  1. Sign in with Bridge, a wallet you can access with your email address.
  2. Deposit USD into Stably via wire transfer or a US bank account (requires verification), then send it to Bridge as USDS (Stably USD).

Seasoned investors

  1. Sign in through the MyIconWallet mobile app, or use Chrome or Brave on your computer with Hana or a Ledger wallet.
  2. Add supported assets to your wallet, including ICX.

Supply assets
to a market

Earn interest and Omm Tokens for supplying assets to a market. All your supported assets will be listed on the Home page as available to supply, along with your balance and the current interest rate.

Click a market to expand it, then click Supply and choose the amount. Your expected daily interest and rewards will update as you adjust the value. Confirm the transaction when you're ready.

Your supplied amount will increase over time to reflect your daily interest. You can claim your OMM rewards from the Rewards page. To withdraw your assets, follow the same process in reverse.

Borrow assets
for short-term loans

After you supply assets, you can borrow up to 50% of the value against them. It costs a 0.1% fee to borrow an asset, and your debt will increase over time from the interest, so it's best for short-term loans.

Find a market to borrow from under the 'All markets' tab, then click to expand it. Click Borrow and choose the amount: your expected daily interest and rewards will update, as will your risk*. Confirm the transaction when you're ready.

*When you borrow assets, you take on risk. It's best to keep your risk below 50%: if it reaches 100%, your position will be partially liquidated. Check your risk regularly, and if it gets too high, reduce or repay your debt, or supply more assets.
Learn more about the risk of borrowing.

Claim rewards

While you participate in the Omm markets, you'll earn Omm Tokens (OMM). They accrue in real time, and you can view and claim them from the Rewards page.

Omm Tokens are Omm's governance token. You can use them to earn more OMM, and participate in governance to help shape Omm's future.

Get Boosted OMM

Lock up Omm Tokens to get bOMM, so you can earn more OMM and participate in the Omm governance process.

  1. Go to Rewards > Boosted OMM, or Vote > Overview, then click ‘Lock up OMM’.
  2. Choose the amount to lock and how long to lock it for (1 week, or up to 4 years).
  3. Confirm the transaction, then apply the boost.

You’ll receive Boosted OMM (bOMM), a non-transferable token which provides you with daily OMM, and boosts your OMM rewards for each market and liquidity pool by up to 2.5x. Your boost for each activity depends on the amount of bOMM you hold, and the size of your position compared to everyone else’s. Learn more about Boosted OMM.

Participate in governance

While your OMM is locked, you hold voting power in the Omm protocol.

Discuss and vote on changes to Omm

Join the Omm forum to view and discuss potential changes, like which markets to list, what the borrow limit and fee should be, and where to direct funding.

Proposals can be submitted on the Vote page, and the community has 5 days to approve or reject them.

Vote for ICON P-Reps

Participate in ICON's voting system and allocate a portion of the supplied ICX to up to 5 public representatives (P-Reps).

The P-Reps who created Omm are set as the default. To change your allocation, click Adjust in the 'Your votes' section, then use the +/- buttons to edit the list.

Provide liquidity
for OMM

All assets on Omm can be swapped on the Balanced exchange. If you provide liquidity to facilitate these trades, you’ll earn OMM and a share of the trading fees.

Liquidity providing comes with the risk of impermanent loss, so it's best left to advanced traders.

  1. Go to the Balanced Trade page and add OMM to a liquidity pool with an equal value of sICX, USDS, or IUSDC.
  2. Sign in to Omm, then go to the Rewards page and stake your LP tokens.

You'll earn OMM as long as your LP tokens are staked, but you'll need to unstake them before you can view or withdraw your liquidity from Balanced. To maximise your OMM rewards, make sure to get Boosted OMM.