Summary

OADA V2 transforms the system into a hybrid stablecoin credit issuer with:

1. Bounded term lending

2. Automatic refinancing & capacity expansion

3. Dynamic liability contraction

4. Clear capital structure

5. Strong peg recovery mechanics

6. Off-chain sequencer underwriting

At a high level, V2 is attempting to achieve MakerDAO’s capital efficiency, Liquity’s predictability, Frax’s AMO control, but with fixed-term loans that allow guaranteed deleveraging.

The result is a system that is:

• More scalable

• More profitable

• More capital efficient

• Still risk-bounded