Orca Protocol Emergency Savings (OPES)
OPES is the acronym for Orca Protocol Emergency Savings, which is a separate wallet in the $OP Ecosystem. OPES uses an algorithm that backs the Rebase Rewards and is supported by a portion of the buy and sell trading fees that accrue in the OPES wallet.
Simply put, staking rewards (rebase rewards) are distributed every 15 minutes at a rate of 0.02604% and are backed by the OPES parameter, thus confirming a high and stable interest rate to $OP Token holders.
5% of all trading fees are stored in the Orca Protocol Emergency Savings which helps sustain and back the staking rewards provided by the positive rebase.
- Preventing bank runs through price stability
- Enabling long-term sustainability and future growth of the Orca Protocol
- Mitigating downside risk