Every month, the Origin team publishes an update to our token holders and the broader community. We hope you enjoy our October 2023 edition.
New strategies fuel OGV and OUSD, Pudgy Toys selling at Walmart, and the OETH dapp gets a facelift. Buckle up as we unfold advancements made by the team in October.
Welcome to Origin’s monthly Token Holder Update! October was a month of momentum for Origin Protocol, highlighted by protocol upgrades and enthusiasm around OGV following some exciting adjustments to Origin DeFi's tokenomics.
We also launched an OETH balance sheet on the OETH analytics page, a move towards greater transparency in showcasing the protocol's solvency. The Origin Ether dapp also saw a refresh, including a dedicated history tab to track earnings and swap history.
On the yield frontier, Origin Dollar's 30-day trailing APYs saw a 90 basis point rise month-over-month, thanks to a rebalance in OUSD collateral, optimizing yields from USDC and DAI strategies.
As for Origin Story, new integrations for OGN have expanded the way holders can interact with our token. Our NFT partners have expanded their reach, with Pudgy Toys now sold in Walmart and other retail locations.
This month's update will take you through:
Join us as we unfold the advancements made across Origin Protocol in October, laying a robust foundation as we venture into the months ahead.
Excitement brewed around OGV in October, as new upgrades were passed through Origin DeFi governance to improve the protocol’s tokenomics. OGV buybacks were increased, now using fees from both OETH as well as OUSD. Due to the large circulating supply of OETH, buybacks are roughly 3 times larger than when they were solely funded by Origin Dollar’s performance fee.
These tokenomics upgrades didn’t go unnoticed. Origin DeFi Governance is getting attention on Twitter, highlighting the impact of OETH on OGV. Emperor Osmo, a key opinion leader in liquid staking, published an in-depth thread on Origin DeFi. The thread explains Origin Ether’s place in the LSTFi market, and how OGV plays a crucial role within our ecosystem.
Also in October, Origin added an OETH balance sheet to the OETH analytics page. The balance sheet breaks down the protocol's solvency, highlighting collateral allocations, funds held in yield strategies, and total assets vs total liabilities.
In regards to Origin Dollar, 30-day trailing APYs increased by 90 basis points month-over-month. OUSD collateral was rebalanced in October, helping increase yield from USDC and DAI-denominated strategies. As of writing, OUSD primarily earns yield through Morpho Aave, Morpho Compound, and the MakerDAO DSR.
The Origin Ether dapp was overhauled in October, adding new OETH swap routes plus dedicated redemption and history tabs. The history tab shows lifetime earnings, yield events, and swap history through the OETH dapp. For users looking to redeem OETH directly for its collateral, the dapp’s redemption tab supports direct redemptions.
Lastly, Origin Ether’s allocation to the Aura/Balancer strategy was fully deployed last month. The rETH/WETH pool earns from both rETH liquid staking rewards and Balancer trading fees, making it a compelling option for stacking multiple yield sources. There is now over $14 million of OETH collateral earning yield through Aura, which boosts yield on Balancer LP positions in a similar way to Convex on Curve.
Last month, Origin DeFi achieved new integrations for OETH leverage, cross-chain swaps, and asset management. Origin Ether is now a supported collateral type on Interest Protocol, enabling users to leverage their positions by posting OETH as collateral.
Helping bring new liquidity to Origin, all of our tokens are now supported on Jumper Exchange. Powered by LI.FI, Jumper is a multi-chain DEX that supports 18 chains and 35 DEXs. Thanks to the integration, users can swap from Base, Optimism, Polygon, Arbitrum, and 14 other chains to gain access to OGN, OGV and Origin’s OTokens.
Lastly, several wallets integrated OGN, OUSD, OGV, and OETH in October. Argent, Tangem, and Arculus now support Origin’s tokens and rebasing functions. For a full list of ecosystem integrations, visit our OETH and OUSD ecosystem pages.
In October, Origin Story and our partners advanced our efforts to make a significant impact on the rapidly developing NFT scene. Looking back over the year, we're excited to spotlight Origin’s unwavering dedication to innovation and forward momentum through some of our standout achievements, including:
These accomplishments provide a mere glimpse into the vast potential of NFTs and Origin's unique capacity to make meaningful contributions to the sector. As interest in real-world utility for NFTs increases, we’re excited to see what the future holds for non-fungible tokens and the infrastructure necessary to solve real world problems.
Stay tuned for more updates as we venture into November.
Check out the latest yield opportunities, staking updates, and tokenomics data for Origin’s tokens.
The fourth season of OGN staking is well underway and heading towards its conclusion set for this upcoming Saturday, November 3rd, 2023. As a quick reminder, this season featured boosted rewards for stakers, thanks to a grant of 500,000 OGN provided by the Origin Foundation. It's also important to note that staking for Season 4 is now closed, and no additional tokens can be staked.
As of the latest count, OGN has a circulating supply of 502,728,259 tokens. Season 4 is set to conclude with an impressive 69.4 million OGN staked, a clear testament to the confidence in the protocol's potential and the dedication of holders.
Origin DeFi Governance ended the month on a high note, with the first buyback of OGV with OETH fees completed on October 25th. During the first week of October, Origin DeFi Governance underwent its fourth inflation reduction, cutting emissions from 33.2M OGV per month to 16.8M per month.
This scheduled inflation reduction aims to limit the supply of OGV. As OTokens add increasing value for OGV stakers, emissions will continue to be replaced by protocol revenue. The next inflation reduction is scheduled for September 2024, with the final reduction happening in May 2026.
Also in October, Origin Ether hit an all-time high circulating supply of 34,200+ ETH. As shown by the OETH analytics page, protocol-owned OETH from our AMO strategy has been reduced. This is due to Origin’s diversification away from Curve, as more yield is now generated from Aura/Balancer and frxETH.
The month of October commenced with a dynamic Twitter Spaces event hosted by our Community Managers, Moises Sosa and Ricardo Quintero. This gathering allowed us to further strengthen our bonds with Origin’s Spanish community, underscoring our steadfast commitment to global expansion.
In the following weeks, Origin DeFi orchestrated an enlightening Twitter Spaces session featuring notable voices such as Sushi, Boba, Popcorn, and others. The discussion revolved around the challenges and opportunities of building in a bear market. Furthermore, Peter Gray from Origin joined DIA to contribute to their liquid staking dialogues season finale, shedding light on Origin Ether and its role in the DeFi landscape.
In our ongoing quest to reward and empower our community, we introduced the revamped Origin community rewards program powered by Wonder. And in a more recent development, we're excited to announce the inauguration of our brand-new Origin Merch Store. Community members can now engage in various tasks within the Origin Discord to earn points, which can then be exchanged for Origin swag.
As we persistently cultivate communities to extend Origin's global footprint, we’re in active pursuit of exceptional individuals to join our team as Community Managers. Currently, we have opportunities available for individuals to join us as Community Managers for the Vietnam and Dubai regions. This endeavor underscores our unwavering dedication to nurturing an expansive and inclusive Origin community on a global scale.
That’s all for October! We had a lot of important announcements drop last month –– if you’re a token holder, it may be worth diving deeper into some of our recent updates. For your convenience, we’ve dropped some of our favorite blog posts from October below. See you next month for November’s Token Holder Update!
