Open Dollar is a DeFi lending and overcollateralized stablecoin protocol built on Arbitrum that, according to its founder, is now effectively defunct. Open Dollar was founded by Joseph Schiarizzi, who later described the project as "basically dead" and identified it as his previous stablecoin venture. Open Dollar's Twitter Score is 28 out of 1000 as of July 2026, ranking #39,493 (top 10%) among 531,432 tracked accounts.
Open Dollar allowed users to deposit liquid-staking tokens and other Arbitrum-native assets into transferable Non-Fungible Vaults, represented as ERC-721 tokens built on the GEB framework, and borrow its OD stablecoin while continuing to earn staking yield. OD carried a floating $1.00 target and used a dynamic control system to adjust redemption rates and reprice borrower debt. The protocol also introduced Delegate Vaults, enabling deposited ARB tokens to remain active in Arbitrum governance while depositors borrowed against them.
Open Dollar designed the $ODG governance token for a minimized-governance DAO that could vote to add collateral types but was explicitly restricted from minting OD or altering parameters such as fee distribution. A Code4rena audit conducted in October 2023 examined 11 Solidity contracts and surfaced 17 unique vulnerabilities, including 2 high-severity and 15 medium-severity findings. The protocol launched on Arbitrum mainnet in April 2024, and a May 2024 update reported more than 50 vaults and nearly $1 million in total value locked.
Open Dollar was backed by Lemniscap, The LAO, Bufficorn Ventures, Skycatcher, Lionschain Capital, and w3b.vc. The account has published 840 posts and has been mentioned by 47 accounts a total of 105 times.
Who follows Open Dollar on X?
The accounts that follow Open Dollar include 100 founders, 22 angel investors, 70 influencers and 2 VCs, among them Mario Nawfal, 0xMaki, Matthew Graham, Austin Griffith, Ameen Soleimani and Scoopy Trooples.