New Protocol Submission

[sumpg41]

Protocol Name

Origin Protocol

Symbol

OGV

Category

Yield Aggregator

Subcategory

Defi

Please provide a description of the protocol.

Origin Protocol is a collection of rebasing yield aggregators designed in a set and forget fashion. Origin Dollar (OUSD) is the first stablecoin that earns yield while sitting in your wallet. Origin Ether (OETH) is an LST aggregator that combines the yield-generating functions of Lido, Rocket Pool, and Frax into one single, diversified token.

Why do you believe this protocol is a good fit for The Web3 Index?

Origin has been open source from the start. We aim to be fully transparent and would like everyone to understand where yields come from.

Can you describe the protocol's tokenomics?

OETH and OUSD collect a 20% performance fee on the yields generated. Of the 20%, half is used to buy back the Origin Defi Governance token (OGV) on the open market, to distribute to stakers of OGV. The other half is used for buying protocol-owned flywheel tokens to help maintain the longevity of the protocol.

Who are the demand and supply side participants in the protocol? Please detail how both participants interact with the protocol.

OUSD and OETH are currently used differently by different verticals of users. Retail users are treating OUSD/OETH like a bank account or high-yield savings account within their wallet. Yield farmers are using OUSD/OETH to save on gas fees by replacing active farming with passive farming. DAOs are swapping their idle treasury into OUSD/OETH to extend their project runway. Funds and asset managers are incorporating OUSD/OETH into their portfolios to hedge against centralization risk and obtain superior DeFi APYs.

Please provide the protocol’s cumulative demand-side fees over the past 30- and 90-day periods.

OUSD and OETH demand can be seen on DefiLlama.

This is confirmed by the analytics pages on the OUSD and OETH websites.

Fee data source

The OGV data source can be found here: https://api.originprotocol.com/api/v2/protocol-fees

Website

Core homepage: https://originprotocol.com/
OUSD: https://ousd.com/
OETH: https://oeth.com/
OGV staking: https://governance.ousd.com/

Twitter

Origin Protocol Twitter: https://twitter.com/OriginProtocol
Origin Defi Twitter: https://twitter.com/OriginDeFi

Coingecko or Coinmarketcap URL

OUSD: https://www.coingecko.com/en/coins/origin-dollar
OETH: https://www.coingecko.com/en/coins/origin-ether
OGV: https://www.coingecko.com/en/coins/origin-defi-governance