Origin Dollar (OUSD) is a stablecoin that distinguishes itself by earning a yield while held in users' crypto wallets. It maintains a peg to the US dollar through backing by other stablecoins like USDT, USDC, and DAI, and is part of the Origin Protocol ecosystem.
OUSD operates on the Ethereum blockchain, utilizing smart contracts to manage its token supply and yield generation. By investing the backing stablecoins into DeFi protocols such as Aave and Compound, OUSD generates yield, which is then distributed to token holders. This yield is reflected in the rebasing of the OUSD supply, allowing holders to passively earn returns.
Origin Dollar can be used across various sectors such as DeFi, e-commerce, and financial services. It is particularly useful for:
Origin Dollar was launched in September 2020 by Origin Protocol. It was developed as an innovative stablecoin that generates yield while in wallets. Key milestones include the introduction of its governance token, OGV, and a mechanism for staking. Despite an early security exploit, the project has evolved with transparency and user-focused solutions, maintaining a stable market presence.