The interesting thing about the OUSD V2 offering is that the tokens are not locked up and the earnings are not subjected to any form of fees.
Origin Protocol, a Web 3.0 infrastructure and innovative products developer, has announced the launch of Origin Dollar (OUSD) V2 as it looks to build on its one-of-a-kind yield-bearing stablecoin products for all. The OUSD V2 protocol introduces a number of new enhancements for the OUSD offering in that it lets all holders of the stablecoin earn competitive yields on their tokens right from inside their wallets.
With the onslaught faced by the broader crypto ecosystem this year as was compounded by the collapse of centralized digital currency service providers, the trust in the industry has undoubtedly been broken. The launch of the OUSD V2 engine is Origin Protocol’s attempt to help salvage the situation by giving users yields on their stablecoins without having to stake or commit them for a period of time as is required on yield-bearing platforms.
The OUSD interest allocation was further made possible with the implementation of new Convex and Morpho strategies for OUSD V2. At this time, Origin Protocol, through the OUSD V2 now offers the highest yields in the DeFi ecosystem when the earnings are adjusted on their susceptibility to risks.
“Origin has been building OUSD with a security-first philosophy for years. For a long time, the yield on OUSD was in line with what’s found on USDC and DAI, and it’s incredibly exciting to see the improvements made to the protocol this month. Over the last 30 days, OUSD has earned holders over 6% APY. That’s over twice the rate of the prior month with no additional risk, thanks to OUSD V2,” said Josh Fraser, co-founder at Origin Protocol.
The interesting thing about the OUSD V2 offering is that the tokens are not locked up and the earnings are not subjected to any form of fees.
Origin Protocol Rebuilding Trust Through OUSD V2
There is no doubt in the fact that many market makers are weary of doing business in the industry as there is no idea which protocol to trust with funds or not. While the misappropriation of funds is possible with centralized outfits whether, in the crypto space or traditional finance, exploits through hacks are also very common.
In order to wade off this threat, the OUSD V2 protocol has been audited by OpenZeppelin, the security outfit that is responsible for the audit of some of the most prominent crypto projects including Coinbase Global Inc (NASDAQ: COIN), Ethereum Foundation, and Aave. All necessary audits have been passed and the reports are published for unbiased verification.
Per the model of the OUSD V2 in that it does not require any active management, it comes off as the best avenue for new users to get involved in the DeFi and broader crypto world.
“OUSD empowers individuals to own their crypto, which has been brought into the limelight in 2022. And for new users, OUSD is the perfect way to dip one’s feet into DeFi. There’s no need for active management, and yield is passively earned and deposited to one’s web3 wallet daily,” said Andra Nicolau Head of BD, OUSD.
The rewards being dished out by OUSD V2 are based on the implementation of two new strategies for yield generation using the Convex protocol.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
