Summary
Proposal to add OUSD/USDT to the Gauge Controller.
Origin Protocol is launching a new feature for OUSD, OETH, and Super OETH called Yield Forwarding. This feature enables the use of our new Pool Booster module that will receive yield earned from OUSD deposited in a Curve pool and deposit those as incentives on the pool to increase liquidity and improve LP earnings. We plan to enable Pool Booster on this pool.
References/Useful links:
- Website: https://www.originprotocol.com
- Documentation: https://docs.originprotocol.com
- Github: GitHub - OriginProtocol/origin-dollar: OUSD and OETH are stablecoins that passively accrue yield while you are holding it
- Discord: Origin Protocol
- OUSD/USDT Curve Pool: Curve.fi
- OUSD/USDT Gauge Vote: https://dao.curve.fi/#/ethereum/proposals/932-OWNERSHIP
Protocol Description:
Origin Protocol is a suite of complimentary DeFi products designed to increase economic opportunity for all. These permissionless and composable smart contracts provide superior user experiences across DeFi in a groundbreaking multichain yield ecosystem.
Motivation:
Origin Protocol is heavily involved in the Curve ecosystem with OUSD and OETH pools holding more than $38-million in TVL.
We believe that a gauge for OUSD/USDT, along with our new Pool Booster module, will help attract increased liquidity, trading volumes, and improve LP experience by offering higher earnings.
We would like to request a gauge for the OUSD/USDT pool. With the launch of Yield Forwarding and Pool Booster, we hope to continue investing in the Curve ecosystem and deploy Pool Booster for more Curve pools. Pool Booster will provide incentives to liquidity providers and offer LPs more options than pairing with other stablecoins that do not earn yield.
We are starting with an OUSD/USDT pool but plan to expand this to other Curve pools in the future. We have seeded the pool with $10,000 in liquidity to get us started.
Specifications:
- Governance: OUSD is governed by xOGN holders with any upgrades to the contracts being time-delayed by a 48-hour timelock.
- Oracles: Where available, Origin Dollar uses Chainlink to secure the protocol from pricing attacks.
- Audits: OUSD code is well audited with OpenZeppelin auditing the latest changes to add Yield Forwarding to the OUSD codebase.
- Centralization vectors: OUSD is a decentralized stablecoin with backing assets deposited to Morpho, AAVE, and Maker.
- Market History: OUSD was launched in 2021 and currently has 6.5M in TVL.
Vote
You can vote for the OUSD/USDT gauge here.
Thank you for your support!