Origin Protocol

Every system evolves. Even money. 🌱 $OUSD has entered its next phase. Origin Dollar is now fully backed by $USDC and powered by a purpose-built @Morpho Vault curated by @yearnfi:

Stablecoin yield, optimized across Morpho. Without the manual work. Deposit to OUSD: app.originprotocol.com/#/rebasing/ousd

Your OUSD balance grows automatically as yield accrues. There's nothing to claim, and your balance auto-compounds. Yield from Morpho Vaults on three chains lands in your wallet automatically.

OUSD: stablecoin yield, on autopilot. 🦋 USDC collateral is allocated to custom-built @Morpho Vaults across Ethereum, Base, and HyperLiquid, while you simply hold OUSD on Ethereum Mainnet. No market selection. No active management. 🧵

The eETH ARM has averaged 7.67% APY over the last 30 days. The ARM supports the @Ether_fi eETH peg by purchasing eETH at small discounts on DEXs and redeeming 1:1 through the Ether.fi withdrawal queue. More deposits means more arbitrage capacity and tighter spreads for $eETH holders. Explore the eETH ARM: app.originprotocol.com/#/arm/1:ARM-WE…

OUSD yield has doubled year-to-date. Origin Dollar optimizes $USDC lending across @Morpho instances on Ethereum, Base, and HyperEVM, with users earning passively on Ethereum Mainnet. OUSD is currently yielding ~6% APY. Explore OUSD below 👇 app.originprotocol.com/#/rebasing/ousd

Incident update regarding yield exploitation in our Morpho OETH pool Today we were notified of a flash loan attack on the OETH Morpho market. The attacker was able to capture a small amount of yield (~0.148 OETH). No user principal was at risk. We will fully cover the yield lost to the Morpho borrow booster. Timeline (GMT) 7:30 PM: First alerted to the issue by Dialectic 7:44 PM: Origin team started investigating 8:09 PM: Confirmed as yield theft via flash loan + rebase 9:17 PM: Solution identified and execution began 9:20 PM: Rebases paused 10:08 PM: Fix applied What happened The attacker used a flash loan to borrow ~7,557 OETH from the Morpho market, called rebase() to claim yield on the borrowed amount, swapped the earned yield on Curve, and repaid the loan. First tx: etherscan.io/tx/0xd897ed751… Why this was possible We’ve always known this was a theoretical risk. However, we intentionally kept rebase() permissionless to maximize decentralization. The growing popularity of our Morpho pool made a meaningful flash loan attack feasible for the first time. Solution We immediately restricted rebase() calls to our Governor. This was possible with a simple configuration change instead of requiring changes to our audited contracts. We’re exploring multiple ways to fully close this vector while keeping the protocol as permissionless as possible. In the meantime, the Origin Governor will be calling the rebase() function multiple times a day. This was a very small yield grab (<0.15 OETH total). No funds were lost from user wallets or the protocol’s backing. We’ve secured the system and covered the shortfall. Transparency and security remain top priorities at Origin. We appreciate the community’s trust.

Built by our former COO. Check it out!

Earning ETH Yield with ARM, Liquid Staking, and Upcoming Origin Vaults ft. @ipor_io x.com/i/broadcasts/1…

Live examples include USDC and ETH strategies yielding over 4% covered APY, the closest one can get to risk-free rates in DeFi today. First integrations are live on @vaultsfyi, @DeBankDeFi, and @OriginProtocol, with more on the way.

Our Community Call is this Monday, May 4 at 12pm ET.🗓 We'll be joined by Fusion by @ipor_io to discuss upcoming Origin vaults, plus updates on ARM, OETH, and OUSD. Join us to learn what happened in April. See you there:

@Guz_MassAdopt @OpenCover We're considering this the new risk-free rate in DeFi

Underrated announcement. @OpenCover is setting the standard for on-chain protection (some may argue that its a close on-chain analog to being FDIC-insured/protected). @OriginProtocol’s Automated Redemption Manager (ARM) has facilitated $2.25b (~805k $ETH) of trading volume with roughly 3.96 $ETH worth of TVL. Given that stETH ARM is largely integrated into @CoWSwap & @1inch, ARM-WETH-stETH (LP token) holders can continue reaping the benefits of siphoned arb fees + yield accrued via the ARM’s WETH allocation to @Morpho vaults. By depositing the LP token to OpenCover, users continue to benefit from ARM’s yield/arb strategies while protecting their position thru @NexusMutual coverage. Side note: It would be interesting to see an OUSD ARM with OpenCover protection 👀👀

The stETH ARM is now available as a Covered Vault via @OpenCover 🛡️ Depositors can insure their stETH ARM deposits to protect against risks, with no upfront payment required for coverage. Read more:

@GoMintly @base @virtuals_io 👀

On-chain yield doesn't need to be complex. Deposit ➡️ Earn optimised yield ➡️ Withdraw anytime. Coming soon to @base @virtuals_io @OriginProtocol 🍃

OETH Compounding Validator Migration Update: █████░░░░░ 53% Once complete, $OETH will be among the first LSTs to adopt a zero-oracle-risk architecture with compounding validators enabling partial withdrawals and boosting capital efficiency. Hear @rafaelugolini break down the details on our last community call ⬇️

Lido now has $1B+ in pending withdrawals. Lido estimates ~15 days for withdrawals. Current Lido validator exits cover just 58% — and take ~8 days to process. Without a lot more validator exits, the real wait will be much longer. @OriginProtocol's Lido ARM is helping users exit while generating strong yield for LPs. analytics.originprotocol.com/arm/1:ARM-WETH…

Two days ago: 40% Today: 80% The $stETH ARM captured the equivalent of one month of ETH staking rewards in a single day: