$ 32,029
$ 1,305.8
$ 137.63

DeFi-Inspired Yield-Earning Stablecoin OUSD Launched

The Origin Protocol–a San Francisco-based company aiming to revolutionize eCommerce, is launching OUSD. It is an ERC-20 stablecoin whose reserves readjust depending on demand from the booming decentralized finance (DeFi) sub-sector as per a Medium post on Sep 23. With no staking, lock-ups, or account registration, the coin currently earns a 2.89 percent APR and will make DeFi more accessible.

The Rise of DeFi

At the time of writing, over $8.9 billion worth of tokens is locked and under management by different DeFi protocol. A few days after launching, Uniswap—the world’s largest decentralized exchange, remains the most dominant with over $1.9 billion of value locked according to Etherscan

OUSD will ease entry into DeFi while concurrently lowering transaction costs now that Gas fees remain high in Ethereum.

An extract from their statement read:

“OUSD combines the automated farming of Yearn, the elastic supply of Ampleforth, and the ease-of-use of Tether. Think of it as interest accruing in your bank account. The value of a dollar doesn’t change. You just get more of them over time as you earn interest.”

Despite recent price blips that significantly affected the prices of technically “worthless” governance tokens, the Ethereum community remains confident of ETH’s prospect. 

By extension, this would bolster the wider DeFi scene which is still experimental but promising.

OUSD for Yield Farming

The stablecoin, OUSD, will be pegged to USDT, DAI, and USDC, three of the most liquid stablecoins in Ethereum. To mint new OUSD, a user has to deposit any of the three backing tokens to Origin’s App. Alternatively, they can buy directly from Uniswap. 

Once the exchange is complete, the user will immediately start receiving returns without having to shuffle to other yield generating protocols or automated market makers.

The Origin Protocol team is capitalizing on the current DeFi boom to reward holders of its stablecoin by sharing proceeds of their yield farming activities. 

By plowing back rewards from lending, liquidity provision, and funding of growth tokens, OUSD holders stand to gain more. Additionally, Origin Protocol will improve their pool’s liquidity.

To get started, the Origin Protocol will mine the first batch from Compound with the company planning to sink in a “few hundred thousand” to jump-start their farming activities.

DeFi is the current buzzword in crypto circles and for good reasons. Presently, over $8.5 billion worth of ETH is under management by different trustless finance dApps. 

As traders and investors “farm” for better yields, some of the protocol’s anchors like community governance and funding, trustlessness, and an unparalleled level of transparency in a borderless setting can be incorporated into the under-exploited healthcare system to change lives and create lucrative opportunities for investors.

Specifically, the sense of community can be ported over in healthcare to launch crowdfunding programs to serve millions–and eventually billions of people, with home-care devices. This opportunity is present because, for instance, the on-demand $450 billion medical device financing and leasing market segment remains under-served without a centralized or a decentralized solution that’s accessible, easy, and global.

Earlier, As reported of Solve.Care’s plans of launching a governance token in their bid of merging DeFi with healthcare.

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Ethereum1,305.8 1.02 % 6.58 % 5.76 %
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Polkadot17.56 0.21 % 0.64 % 3.97 %
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Cardano0.3525 1.16 % 3.17 % 0.08 %
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Bitcoin Cash431.84 0.30 % 1.26 % 12.19 %
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