Getting started

Welcome to ONEZ Documentation.

$ONEZ is a stablecoin that is designed to capture native yield from the lending protocol & has self-loan repaying capability. Currently, it operates on zkSync and Manta networks.

Users of ZeroLend have the ability to collateralize their assets, which in turn allows them to mint $ONEZ.

$ONEZ is a soft-pegged US Dollar. Irrespective of prevailing market conditions, the Zerolend Protocol steadfastly values 1 $ONEZ token at an equivalent of 1 USD.

ZeroLend currently offers $ONEZ to borrow against selected assets like ETH and USDC.

How is the Oracle Price for $ONEZ Firmly Anchored to 1 USD?

$ONEZ maintains a fixed price, strengthening its peg to the target value.

  • Users can mint 1 $ONEZ for $1 of debt when the market value exceeds the peg, selling the surplus above the fixed value. This increases the $ONEZ supply, lowering asset price.

  • Conversely, if market value dips below the peg, minters can buy 1 $ONEZ below $1, offsetting $1 debt, contracting $ONEZ supply, and raising asset price.

$ONEZ's over-collateralized model ensures each token is backed by collateral exceeding $1.

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