- Origin Protocol has navigated through various bull and bear cycles, facilitating the mainstream adoption of cryptocurrency with its pioneering products that utilize Ethereum’s expanding ecosystem.
- From creating the yield-bearing stablecoin in 2020 to introducing OETH earlier this year, Origin’s DeFi division consistently produces enhanced DeFi yields, boasting over $90M in total value locked.
- In its six years of operation, the Origin protocol has ventured into multiple sectors, including connecting realtors and investors through NFTs.
In spite of the harsh repercussions of the 2022 crypto winter that has claimed numerous projects, Origin Protocol, a dynamic crypto ecosystem, has successfully marked six years since its founding. Supported by prominent crypto investors such as Pantera Capital, Alexis Ohanian, and BlockTower, among others, Origin Protocol has evolved into a mature ecosystem featuring three distinct products that actively assist in onboarding mainstream users. The trio of products created by Origin Protocol consists of Origin Ether, Origin Story, and Origin Dollar.
Origin Protocol has effectively established vital infrastructure across Ethereum’s network, harnessing leading DeFi protocols and liquid staking tokens to produce yield for its users. Importantly, Origin Protocol has capitalized on the success of the Ethereum network, which enjoys substantial backing due to its high liquidity and dependable staking mechanisms.
A Detailed Examination of Origin Protocol Products as the Protocol Celebrates Six Years
The three flagship offerings developed by Origin Protocol possess unique characteristics that have enhanced the network’s competitiveness in a crowded market. With a long-term vision, Origin has created products applicable to the real world, including sustainable yield generation for USD and ETH, along with NFT infrastructure for real-world assets.
- Origin Ether
Origin Ether (OETH) is a liquid staking solution that has experienced notable growth since its launch in May, following Ethereum’s Shanghai upgrade that allows withdrawals of staked Ethereum. Based on the latest crypto price oracles from Coingecko, Origin Ether (OETH) has a market capitalization of approximately $76 million and a 24-hour average trading volume of around $182k.
Origin Ether has gained popularity among Ethereum stakers due to its higher and more stable rewards, yielding about 6.13 percent on a 30-day trailing basis. Additionally, Origin Ether employs auto-compounding from various DeFi projects with protocol-assured liquidity. Significantly, the future trajectory of OETH is determined by the voters who lock their native token, OGV.
At the time of reporting, the OGV token has a market capitalization of about $4 million and trades at approximately $0.0049. The native token of the Origin Protocol is available on major crypto exchanges and DeFi platforms, including Huobi, KuCoin, Uniswap, and Curve, among others.
- Origin Story
The Origin Story is a suite of tools developed by Origin Protocol to empower NFT communities through marketplaces such as Roofstock onChain, Pudgy Penguins, 0N1 Force, and Alien Boy, among others. Since its inception, Origin Story has collaborated with celebrities and investors looking to launch their own NFT marketplaces.
For example, Origin Story has facilitated the sale of three real estate properties valued at nearly $1 million in the past year through its partnership with Roofstock onChain. This initiative aims to enable investors to interact effortlessly with real-world assets (RWAs) on Ethereum’s blockchain, eliminating intermediaries that create redundancies for end users.
- Origin Dollar
Origin Dollar (OUSD) is a product of Origin Protocol that mirrors the price of USD, generating yield for users while the asset is held in crypto wallets. Being 100% redeemable for leading stablecoins, OUSD has provided a 6.31% APY for holders over the last 30 days. At the time of reporting, the reserves for OUSD were composed of 40% USDC, 33% Tether USDT, and 25% DAI. The governance of OUSD development is managed by the OGV stakers.
What Lies Ahead for Origin Protocol
Origin Protocol is anticipated to be among the top contenders with significant liquidity during the forthcoming crypto bull market. Furthermore, Origin Protocol features a vibrant online community and notable on-chain activity. With the growing demand for web3 and DeFi projects from institutional investors, Origin Protocol plans to further develop a transparent ecosystem to attract more investors looking to earn passive income through its yield-bearing tokens.
“Reflecting on six years of Origin Protocol, it’s rewarding to witness how Origin has evolved into the ecosystem it is today. Our journey from conception to delivering valuable products exemplifies our steadfast commitment to our mission. The most exciting part is that this is merely the beginning. The roadmap ahead for Origin and the wider crypto industry is filled with potential,” stated Josh Fraser, co-founder of Origin Protocol.
