We’re excited to announce a new addition to Origin’s team, Product Designer extraordinaire Matt Bullock.&nbsp;&nbsp;&nbsp;<img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_10_24_at_3_11_49_PM_61921ef46b.png" alt="Screen Shot 2022-10-24 at 3.11.49 PM.png" srcset="https://cmsmediaproduction.s3.amazonaws.com/thumbnail_Screen_Shot_2022_10_24_at_3_11_49_PM_61921ef46b.png 191w,https://cmsmediaproduction.s3.amazonaws.com/small_Screen_Shot_2022_10_24_at_3_11_49_PM_61921ef46b.png 500w,https://cmsmediaproduction.s3.amazonaws.com/medium_Screen_Shot_2022_10_24_at_3_11_49_PM_61921ef46b.png 750w,https://cmsmediaproduction.s3.amazonaws.com/large_Screen_Shot_2022_10_24_at_3_11_49_PM_61921ef46b.png 1000w," sizes="100vw"> &nbsp;Upon entering the space, Matt immediately recognized the many problems with UX and design in crypto as a significant barrier to entry. Having spent four years at Augur as Lead Designer, he’s been contributing to improving the Web3 user experience since its barebones beginnings. His time at Augur led him to Dapper Labs, where he played a critical role in adding a user-friendly crypto custody solution to their wallet. &nbsp;Apart from designing beautiful user experiences to drive further adoption, Matt’s passion for crypto lies with DeFi. He first entered the sector during 2020’s frenetic DeFi summer with a cursory interest that has since grown to an unrelenting commitment to design seamless products and broaden access to these novel, decentralized financial instruments.&nbsp; &nbsp;In joining Origin, Matt is aligning these passions to redesign the OUSD and OGV product experiences from the ground up, in order to make our DeFi offerings as seamless as possible – from OUSD’s dApp to the overall governance experience. &nbsp;“We want users to be able to easily access OUSD and enjoy the simplicity of growing their investment without the worry of taking on risk,” he explains, continuing, “I see the perfect opportunity for a safe, fully decentralized and self custodial interest bearing stablecoin like OUSD to step up and own the sector. I see OUSD as a great product offering and want to help be a part of bringing this to more people.” &nbsp;When he’s not conquering new frontiers in crypto, Matt’s adventurous spirit leads him to the outdoors. An avid cyclist, hiker, traveler and toucher-of-grass, he’s even embarked on an overland journey from Europe to Japan.&nbsp; &nbsp;​<img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_10_24_at_3_12_25_PM_e946875b00.png" alt="Screen Shot 2022-10-24 at 3.12.25 PM.png" srcset="https://cmsmediaproduction.s3.amazonaws.com/thumbnail_Screen_Shot_2022_10_24_at_3_12_25_PM_e946875b00.png 192w,https://cmsmediaproduction.s3.amazonaws.com/small_Screen_Shot_2022_10_24_at_3_12_25_PM_e946875b00.png 500w,https://cmsmediaproduction.s3.amazonaws.com/medium_Screen_Shot_2022_10_24_at_3_12_25_PM_e946875b00.png 750w,https://cmsmediaproduction.s3.amazonaws.com/large_Screen_Shot_2022_10_24_at_3_12_25_PM_e946875b00.png 1000w," sizes="100vw"> &nbsp;Please join us in welcoming Matt to the Origin design team – we couldn’t be more excited to have another intrepid explorer among our ranks!&nbsp;

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Origin Protocol Welcomes Matt Bullock as Product Designer for OUSD

We’re excited to welcome virtuoso Data Engineer Jonathan Snow to the Origin team. A seasoned veteran of crypto and fintech, Jonathan has turbocharged growth for a number of brands in the space by building robust data pipelines and automated tools.&nbsp; &nbsp;<img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_10_24_at_2_01_18_PM_761155c974.png" alt="Jonathan Snow" srcset="https://cmsmediaproduction.s3.amazonaws.com/thumbnail_Screen_Shot_2022_10_24_at_2_01_18_PM_761155c974.png 209w,https://cmsmediaproduction.s3.amazonaws.com/small_Screen_Shot_2022_10_24_at_2_01_18_PM_761155c974.png 500w,https://cmsmediaproduction.s3.amazonaws.com/medium_Screen_Shot_2022_10_24_at_2_01_18_PM_761155c974.png 750w,https://cmsmediaproduction.s3.amazonaws.com/large_Screen_Shot_2022_10_24_at_2_01_18_PM_761155c974.png 1000w," sizes="100vw">&nbsp;&nbsp;Jonathan adopts a strategic mindset that underpins his wealth of experience in driving disruption. “When entering a new space, I tend to build small projects that snowball into larger ones,” he explains, alluding to the several, cross-sector startups he’s built over the years–– spanning everything from marketing to software innovation. &nbsp;As a lifelong entrepreneur, Jonathan started his first business at the age of seven. Fresh out of high school, aged 19, he built Point-of-Sale automation tools for the largest US grocery chain by locations. &nbsp;Since then, he’s developed social media automation tools for the likes of Instagram, Twitter, and LinkedIn, as well as his own enterprises. &nbsp;A crypto native since 2016, Jonathan’s interest in NFTs and DeFi was piqued in 2020, which led him to begin building bots and analytics tools to track market data. Soon after, Jonathan built&nbsp;<a href="https://www.nicejpeg.com/">nicejpeg</a>, offering broader data tooling for the general NFT space. His relentless passion for developing data tools on the cutting edge of current technology has also seen him contribute to a number of DAOs and smart contract development. &nbsp;Nicejpeg prompted Jonathan to dive deeper down the rabbit hole of Web3, leading him to Origin. Recognizing the quality of the products being developed and the diverse, tight-knit team we’ve proudly cultivated, Jonathan has joined the Origin team to innovate on our data processes with his immense skill set. &nbsp;When he’s not riding data flows, Jonathan can be found hitting the slopes on his snowboard, planning his next trip, and hunting for good coffee, company, and croissants.&nbsp;&nbsp;<img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_10_24_at_2_02_20_PM_adcb65b668.png" alt="Screen Shot 2022-10-24 at 2.02.20 PM.png" srcset="https://cmsmediaproduction.s3.amazonaws.com/thumbnail_Screen_Shot_2022_10_24_at_2_02_20_PM_adcb65b668.png 201w,https://cmsmediaproduction.s3.amazonaws.com/small_Screen_Shot_2022_10_24_at_2_02_20_PM_adcb65b668.png 500w,https://cmsmediaproduction.s3.amazonaws.com/medium_Screen_Shot_2022_10_24_at_2_02_20_PM_adcb65b668.png 750w,https://cmsmediaproduction.s3.amazonaws.com/large_Screen_Shot_2022_10_24_at_2_02_20_PM_adcb65b668.png 1000w," sizes="100vw">&nbsp;&nbsp;We’re thrilled to have another passionate builder with an exemplary history of accomplishments among our ranks. Please join us in welcoming Jonathan to the Origin engineering team!&nbsp;&nbsp;

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Let It Snow: Origin Protocol Welcomes Jonathan Snow to Our Core Team

Origin Token Holder Update September 2022

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September 2022 Token Holder Updates: OGN, OGV, & OUSD

We’re excited to welcome Business Development powerhouse and crypto veteran Amit Patel to Origin’s core team! &nbsp;<img src="https://lh6.googleusercontent.com/sUsyZoETnkkPbZr0KWKG1yctBWmG_iFC5KSkZA4QC_PysDMBTfXVyudW-NcHuyAwNd9KNMg9l942YEnO5m6KeEbYo94e7OLzzNm-lCyuIkIt4t1QPUrgC3H9MfxA5Zix2d0XNsxoUpxk1d671r-dgyVnA31F4ni8UbxtkABTG8HApI3XKrrCrCkIb6NsSw" alt="Amit Patel Origin Protocol"> &nbsp;Taking the helm as Origin Story’s Head of Business Development, Amit has big plans to grow the platform, armed with over 15 years of experience growing major Silicon Valley startups. &nbsp;As Lyft’s 7th employee, Amit played a crucial role in building the company from the ground up. Lyft’s co-founders John and Logan often went to Amit to test experimental projects. After leading these projects for several years, Amit founded the company’s b2b arm Lyft Business which now drives over $1B in annual revenue.&nbsp; &nbsp;Under his leadership, his team solidified corporate partnerships with F500 companies including Delta, Apple, McKinsey, and Facebook. Additionally, he secured strategic partnerships with the top ten US health plans in an effort to provide safe and reliable transport for eligible patients.&nbsp; &nbsp;A true crypto veteran, Amit has been investing in the space since 2013. His passion for blockchain is driven by Web3’s vast potential to disrupt traditional industries across the spectrum.&nbsp; &nbsp;As he explains, “I’m most excited about the intersection of web3 and other industries including healthcare, real estate, music, and travel. There are so many potential applications that it is fascinating to think where the world will be in 5-10 years. As a team,&nbsp; we’re lucky to be in a position to be part of that journey…hopefully a big part!” &nbsp;On joining Origin, Amit was drawn to the team’s wealth of expertise and culture.&nbsp; &nbsp;“I was really impressed by all the talented folks on the team that had deep experience in web2” he states. “For me, it's a strong signal to see exceptional people making the leap into web3 and leaving incredibly established positions in these traditional tech segments.” &nbsp;A thrill seeker at heart (in true Crypto OG fashion), Amit is constantly pushing the boundaries of endurance. Besides scaling Kilimanjaro, he’s biked across Uruguay in six days, and competed in club soccer tournaments in seven countries. &nbsp;Please join us in welcoming Amit to the Origin team! Led by Amit’s vision and expertise, Story is primed to continue its path to disrupting untapped industries in real estate and beyond.&nbsp; &nbsp;

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Amit Patel Comes Along for the Ride: ex-Lyft Executive Now Head of Origin Story BD

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October 2022 Token Holder Updates: OGN, OGV, & OUSD

We’re excited to welcome adrenaline veteran and brand management virtuoso Jan Sammut as Origin’s new VP of marketing! &nbsp;<figure class="image"><img src="https://lh5.googleusercontent.com/mrpyHhL-5gs3pzdP_HF0K8SYkeoYrMHySVYzaIiW3cjGlLMHk5zPsc1FeNZoOagi7Zh5LI0GnybL32WMPqWNUr8IbF6vNoaWIIaHTBm2_eEpkxcnA091BdQniV5rt-mxGAjeYoU6OcTm0GCYTkH20GiVm84LQukAsP48ob5-0EqmgY4gLqcvuTLuvQ9vRQ" alt="Jan Sammut Origin Protocol"></figure> &nbsp;Jan brings with him a wealth of informed experience, having led marketing teams in the online gaming industry for over a decade. In his four years as a brand manager, he’s worked to elevate global brands including the likes of Nike, Swatch, Oakley, Dolce &amp; Gabbana, Roberto Cavalli, and Tag Heuer––although it looks like Jan may be a bigger fan of Audemars Piguet than Tag. &nbsp;Jan claims the rarified title of true crypto OG, having started his trading journey with Ethereum in 2014. Immediately recognizing the space’s vast potential, he founded Europe’s first ICO platform: ICO Malta. Acting as host to 40 ICOs and STOs, the company garnered the Blockchain startup of the year award, after which the company was exited successfully. &nbsp;Testament to his vision and determination, Jan’s passion for blockchain has held steadfast since discovering the industry over 8 years ago. He prides himself on his technical trading expertise, and builds custom trading algorithms in his spare time to streamline his conquest of the three-comma club.&nbsp; &nbsp;Discussing joining Origin, he espouses the playful wisdom of someone who truly understands the psychology of the space. “I loved the vision, passion, and skill set of the team,” he affirms, continuing, “It was evident from the get go that the team are native crypto degens, whilst having the commercial mindset to make this a success.” &nbsp;<figure class="image"><img src="https://lh5.googleusercontent.com/3VaQso2rTY4ifkpl-5g4s1YQLXjkoSUln9fYOcflxygnJbESKtvIg9DKF_MW1wE1SRtl5TLsjmTn9gYcHntjXGrnT6IQ9rp8HNr9kQNCaSYT8SjD-bGDdOhTlhgsDDFqY7Van78u2KCbNZD1fks2UILacsWh2jiXFWXHTVPzSaqpUzTrMdXLpNcEVsMG3g" alt="Jan's Lotus Exige"></figure> &nbsp;When he’s taking a break from crypto, Jan enjoys pushing the limits of his comfort zone in true degen fashion. “The closer I get to death, the more alive I feel. This will not end well”, he jokes, considering his love for snowboarding and a passion for cars that has seen him win three consecutive national championships.&nbsp; &nbsp;Please join us in welcoming Jan to the Origin team! Who better to lead the charge as we embark on our next chapter of trailblazing innovation? &nbsp;

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Welcome Jan Sammut: Serial Entrepreneur Now Origin’s VP of Marketing

Origin recently set off for&nbsp;<a href="https://www.hapskorea.com/blockchain-week-in-busan-2022-begins/">Blockchain Week Busan</a> to discuss the current state of NFT infrastructure and exciting innovations stemming from the space. The city's mayor is doubling down on support for crypto, with the goal of making Busan a leading destination for blockchain.&nbsp;The three day event featured keynotes from the likes of CZ and a presentation from Origin’s very own Eric Charles.&nbsp;<h2>Why We Went to BWB 2022</h2>Origin has cultivated a thriving South Korean community since launching OGN in early 2020. In August, our co-founder Josh Fraser&nbsp;<a href="https://blog.originprotocol.com/origin-chats-ousd-and-stablecoin-innovation-at-buidl-asia-35ed01059acd">gave a presentation</a> on OUSD at Seoul’s BUIDL Asia. &nbsp;Our latest visit focused on tapping into the country’s rising NFT community. BWB allowed us to connect with leading brands and public companies entering blockchain, and specifically NFTs. Meeting these brands and companies aligns with Origin’s mission to disrupt marketplaces across industries, as we’ve done with&nbsp;<a href="https://medium.com/originprotocol/the-first-real-estate-sale-via-nft-marketplace-executed-on-origin-protocols-story-marketplace-487127a5a77">Roofstock and the real estate industry</a> as well as web3-native NFT collections.&nbsp;&nbsp;<h2>Eric Charles Presentation on “Fragmentation of NFT Marketplaces”</h2>Origin’s Business Development manager Eric Charles gave an enlightening presentation on fragmentation in the current NFT marketplace landscape.&nbsp;Opensea remains the industry leader. However, its generic feature set is simply not equipped to accommodate the growing hunger for unique, custom marketplaces for all creators.&nbsp;NFTs have the potential to revolutionize a number of industries, from gaming and music to real estate and beyond. Branded marketplaces offer potentially the best positioning to serve this array of utility. &nbsp;<figure class="image"><img src="https://lh6.googleusercontent.com/Iv5w2iWJovPqBMQ8wMeL2bWVsqCbseKLcP22KQEzVVRfHkwCSdH5vCxYjIbW241AezcyPBMswgQrubf_8ib2eSYddmelAcT6UDZmWqWaNyi5sslqqzEjCdmoLQFTl8hHulc2VVl2Fbnio69MrNFAZqovbPmQOw86muK71HQs5-gmPY9J60UqUvrvt7mkXA" alt="Origin Protocol Blockchain Week"></figure>&nbsp;Eric laid out the vision for Origin Story’s&nbsp;<a href="https://blog.originprotocol.com/introducing-collections-branded-marketplaces-powered-by-origin-story-7b89f189ebd">white label NFT marketplaces</a> in impressive fashion.&nbsp;&nbsp;Origin has collaborated with&nbsp;<a href="https://blog.originprotocol.com/nft-collections-using-origin-story-to-power-their-marketplaces-35d093586867">leading NFT brands</a> to create feature-rich native marketplaces since its inception in July. Most recently, Origin built the first NFT marketplace for physical real estate in partnership with property giant RoofStock. &nbsp;Our partnership with RoofStock is a first foray into disrupting multi-trillion dollar industries plagued by redundancies. The first sale commanded just 3% in fees, well below industry norms of ~10%. This highlights the incredible potential of NFTs to drive real value to end-users, even beyond crypto natives.&nbsp;The industry is rapidly moving towards NFT innovation in the real world. Such use cases will naturally need their own platforms to facilitate exchange. &nbsp;However, as Eric noted, there’s more than enough space for generic and white label marketplaces to coexist. The current competition can be likened to Shopify and Amazon – both thriving marketplaces targeting distinctly different use cases. &nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/YNZ_58iY7JYtzxw4egv-1hF9VV4Ed8KD6uxv62ptbFhemmgYv8T64vAQKe11c1w8RYC3C2VE-z92gIguVY78g2agSXALiEqxacslYP0kweA2WS9tDGH6WZE01MOR6-1G5g4tKpGBTU_Ii1gNHp0LkGC53e8F4dCqJcgFGBthPniRkQPFuzLUFTIPotqvqw" alt="Eric Charles and Origin Protocol In Korea"></figure>Eric's presentation on the fragmentation of NFT Marketplaces&nbsp;<h2>Origin Protocol Eliminates Siloes Between NFT Marketplaces</h2>Story’s marketplaces provide a native, holistic overview of collections. By aggregating official listings from major generic marketplaces, users are able to view the best deals on offer across the space.&nbsp;&nbsp;<img src="https://lh6.googleusercontent.com/FmCQW3uOSXpCv0H4KDP95oRqoqYBHRZj25W-LRTafXGmBAs4yo6rfQK6Fq8Re6MQc3VX6s8QH9qtpyPn2O-qdBUqrZKe6Tn1xzxa2Wm6kiNbWKqG4xM_FLK5rWcfoXVxUW0PGoDy8ehDp7py9MyIesthtJNIrHsvzpc1lLbgYLPAcAsvep_ar-3OGbvCqw" alt="Powered by Origin Story">The official&nbsp;<a href="http://pudgymarket.com/">Pudgy Penguins marketplace</a>, powered by Origin Story&nbsp;Further, Story’s platforms include comprehensive analytics dashboards. These dashboards are tailor-made for partnered projects to provide collectors with key metrics. These metrics are sourced from data across the space to guide collectors’ decision-making, without having to use third party tools.&nbsp;<h2>Developing a marketplace with Origin Story</h2> If you’re a creator interested in working with Origin Story to launch a branded marketplace or a primary NFT sale, please get in touch with our team via&nbsp;partnerships@story.xyz.

Origin Protocol Blockchain Week Busan Korea

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Origin Protocol at Blockchain Week In Busan

Want to read our RFC on the MakerDAO forum? It’s right&nbsp;<a href="https://forum.makerdao.com/t/mip87-ousd-decentralized-rewards/18216">here</a>.&nbsp; &nbsp;MakerDao recently passed&nbsp;<a href="https://mips.makerdao.com/mips/details/MIP13c3SP12#specification">proposal</a> MIP13c3-SP12 as a declaration of intent to invest in short-term bonds/treasuries to earn yield on Maker’s idle stablecoins. Stablecoin holdings currently represent over 50% of Maker’s treasury, and Maker targets a yield-to-maturity of 1%.&nbsp; &nbsp;According to the Maker forums, the organization aims to invest in liquid, low-risk investment strategies. It recently ratified MIP-81 to earn yield on USDC via Coinbase to the tune of $1.6 billion; however, this proposal maintains counterparty risk from several parties, which Maker addressed it wants reduced in MIP13c3-SP12. Through scaling Maker’s exposure to DeFi money markets, the organization can earn yield in a decentralized manner while maintaining full custody of its assets.&nbsp; &nbsp;Earning yield via OUSD will help scale Maker’s exposure to DeFi money markets, as yield is optimized between leading blue-chip protocols Aave, Curve, Convex, and Compound. Average yields from OUSD are higher than direct lending, as yields are optimized between protocols weekly.&nbsp;<h2>TL;DR: Origin’s MakerDAO Proposal MIP87</h2>MIP-87 enables MakerDAO to deploy its USDC into OUSD to earn yield without going through a centralized service or giving up custody of their funds. OUSD generates yield via Compound, Aave, Curve and Convex. OUSD uses the DAI, USDC, and USDT that it’s collateralized with to earn yield on these platforms. Yields are distributed daily, automatically rebasing in user wallets in the form of additional OUSD. &nbsp;OUSD has undergone&nbsp;<a href="https://docs.ousd.com/security-and-risks/audits">multiple security audits</a> by Trail of Bits, OpenZeppelin, Solidified and Certora, with the next audit reports being published in the coming weeks. We suggest Maker start with a $100m allocation and mint OUSD via a custom module that supports PSM. This way, Maker can&nbsp;<a href="https://github.com/makerdao/dss-direct-deposit/tree/v2">direct deposit</a> its USDC, remaining completely within its custody and fully decentralized. We are aligned with MakerDAO’s&nbsp;<a href="https://makerdao.world/en/learn/MakerDAO/core-principles/">core principles</a> and believe OUSD allows MakerDAO to remain as decentralized as possible, while putting its stablecoins to work. &nbsp;To align incentives between MakerDAO and Origin Dollar’s governance, Maker will receive OGV, the governance token associated with OUSD. At a $100M allocation to OUSD, Maker will receive 1% of OGV supply. At a $600M allocation to OUSD, Maker will receive 3% of OGV supply. As Maker scales its stablecoin strategy with OUSD, we are prepared to offer Maker increasing OGV allocations. &nbsp;OGV is used to vote on which protocols are utilized to earn yield on stablecoins and the proportions of stablecoins backing OUSD. Moreover,&nbsp;<a href="https://governance.ousd.com/stake">OGV stakers</a> earn protocol revenue associated with OUSD.&nbsp;&nbsp;<h2>Addressing Risk in Short-Term Bonds/Treasuries</h2>The prices of bonds and Treasuries have an inverse relationship to the amount of yield it generates. For example, if a 1-year bond was issued at an interest rate of 1%, redeemable for $100 and has a market price of $100, its yield would be 1%. But if interest rates rise to 3% and new bonds are issued, the market would no longer be willing to pay $100 for the previous bond, and its price should decline to approximately $98 for a yield of 3%.&nbsp; &nbsp;This is exactly what happened when the Federal Reserve raised rates––we can see from the chart below that US 2 Year Treasury Notes have declined by approximately 6.6% in the past year.&nbsp; &nbsp;<img src="https://lh6.googleusercontent.com/cQHhn622hSkY35uRZr9qOKjtSD7fMyMW6dLVVX45ZfdZOe0ipuH5V_TyYZ1h4laxbh8az4aqJcaaqX4JyZqVoJBhSSZKErUknorTyV3po2AOl7Rgl4LRCyGTRYaAm8CFLix2HX3yfQdOewwnFzB5PPn8AFcL4JhoBxUj4cxTCMhMKc3iKDBYeHPtechjqA"> &nbsp;If MakerDAO had $1 billion invested in these 1 year ago and had to liquidate their position due to redemptions, they would have suffered a huge loss. Furthermore, the fear of USDC depositors being unable to redeem their money at face value may cause bank runs and instability in DAI’s peg.&nbsp;&nbsp;&nbsp;<h2>Regulatory and Mismanagement Risks</h2>Regulatory and mismanagement risks when dealing with centralized parties include but are not limited to: &nbsp;<ul><li>Lack of incentive alignment<ul><li>Counterparties do not have strong incentives to act in Maker’s best interests.</li><li>Counterparties managing the funds could take on higher risk bonds in order to pocket the difference or earn higher performance fees.&nbsp;</li></ul></li><li>Lack of transparency<ul><li>Unlike DeFi, we are unable to monitor real-time transactions that counterparties take. If they decide to deploy capital into junk bonds or speculative assets, how would MakerDAO know?&nbsp;</li></ul></li><li>Regulatory uncertainty<ul><li>With the Tornado Cash&nbsp;<a href="https://www.forbes.com/sites/rosemariemiller/2022/10/26/tornado-cash-sanctions-by-us-treasury-draw-outrage-suits-from-crypto-community/?sh=70944cea584c">sanction</a> and bZx&nbsp;<a href="https://www.cftc.gov/PressRoom/PressReleases/8590-22">charges</a>, we do not know how regulatory parties would respond to MakerDAO deploying money into US Treasuries.&nbsp;</li></ul></li></ul> &nbsp;The lack of precedent and transparency along with increased uncertainties and complexities may not bode well for DAI’s stability during turbulent market periods. If the party managing funds goes bankrupt, what and how long is the asset recovery process? Does MakerDAO have any legal recourse if counterparties become bad actors? We have had several reminders this year that funds are never truly secure when keys are handed to a third party.&nbsp;&nbsp;<h2>Counterparty Risks &amp; How OUSD is Different</h2>While we recognize the legitimacy of the MIP-86, MIP-81, and GUSD PSM proposals made in response to MIP13c3-SP12, we believe OUSD better aligns with Maker’s core principle of decentralization. Moreover, earning yield through centralized custodians introduces counterparty risk, which isn’t applicable to OUSD.&nbsp; &nbsp;<a href="https://forum.makerdao.com/t/mip81-coinbase-usdc-institutional-rewards/17703">MIP81</a> proposed by Coinbase requests $1.6B from MakerDAO to earn interest via Coinbase institutional rewards. The USDC yield Coinbase offers Maker is 100bps on the first $100M, and 10bps more APY on each $100M thereafter. However, Coinbase’s political activism and lawsuits involving exchange crashes, securities violations, and TornadoCash sanctions bring about significant regulatory uncertainty. &nbsp;Gemini’s Proposal:&nbsp;<a href="https://forum.makerdao.com/t/gusd-makerdao-partnership-announcement/18140">PSM GUSD</a> requests a portion of Maker’s treasury to be swapped into GUSD. If Maker’s PSM holds ≥$100M GUSD, Gemini will pay Maker at a rate of 1.25% APY, monthly. If the PSM holds less than $100M, however, Maker earns nothing. Consideration should also be given to Gemini’s recent lawsuits filed against the trading platform by the CFTC and IRA Financial, as the repercussions from these lawsuits may increase volatility around GUSD.&nbsp; &nbsp;Lastly, CoinShare’s&nbsp;<a href="https://forum.makerdao.com/t/mip86-coinshares-usdc-institutional-rewards/17900">MIP86</a> requests $500M of funds from the PSM to earn yield via its platform’s USDC institutional rewards. CoinShares aims for a variable 2.28% APY through investment in traditional financial assets. However, given uncertainties in the macro environment, paired with the significant losses CoinShares sustained from its UST holdings, we believe this proposal exposes Maker to high counterparty risks.&nbsp; &nbsp;We believe it’s important for Maker to diversify its yield strategies to mitigate counterparty risks. OUSD offers a solution to the increasing counterparty risks from the aforementioned centralized entities.&nbsp;<h2>Solution: On-chain Yield Generation via OUSD</h2>The layered risks and opacity of using a third party and investing in bonds seems egregious when compared to DeFi alternatives such as OUSD. By deploying yield-generating strategies on-chain via blue-chip protocols Compound, Aave, Curve and Convex, OUSD has significantly more transparency and liquidity than the alternatives. MakerDAO would be able to monitor transactions that are executed with a timelock and maintain full custody of their OUSD, which is redeemable for the underlying stablecoins DAI, USDC, or USDT at any time.&nbsp; &nbsp;As of 10/28/2022, OUSD’s 30-day and 365-day trailing APY is 2.1% and 9.2%, respectively. This is much higher than MIP13c3-SP12’s target yield of 1%. Origin Protocol, the team behind OUSD, has been established since 2017, maintains a $100m+ treasury, and has raised $38.1M from top investors including Pantera, Spartan Group, Foundation Capital and BlockTower Capital.&nbsp;OUSD has also undergone&nbsp;multiple security audits by Trail of Bits, OpenZeppelin, Solidified and Certora, with the next audit reports scheduled to release by the end of October.&nbsp;<h2>Origin’s MIP87: Make Your Voice Heard</h2>We believe Origin Protocol’s OUSD is fully aligned with MakerDAO and its declaration of&nbsp;<a href="https://mips.makerdao.com/mips/details/MIP13c3SP12#specification">intent</a>. Hence, we propose&nbsp;<a href="https://forum.makerdao.com/t/mip87-ousd-decentralized-rewards/18216">MIP87</a>, which enables MakerDAO to deploy its USDC into OUSD to earn yield on its USDC, while remaining as decentralized as possible.&nbsp;&nbsp; Putting MakerDAO’s balance sheet into bonds under a centralized party’s hands poses a threat not only to the protocol, but every other DeFi protocol that utilizes DAI. We encourage web3 users and MKR holders to get involved on the MakerDAO&nbsp;<a href="https://forum.makerdao.com/t/mip87-ousd-decentralized-rewards/18216/4">forum</a> and vote on future governance&nbsp;<a href="https://vote.makerdao.com/polling">polls</a>.&nbsp;

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Origin Protocol's MakerDAO Proposal MIP87: Scaling Maker’s Exposure to DeFi Money Markets

We’re excited to announce that&nbsp;<a href="https://edge.app/">Edge wallet</a>, a multichain self-custody exchange, has added support for OGN! &nbsp;This latest addition brings OGN to Edge’s &gt;3m accounts generated across 179 supported countries. Users are now able to store, buy, and sell OGN all within the Edge app, offering a fresh avenue for seamless OGN adoption.&nbsp;&nbsp;<h2>OGN’s Expanding Utility</h2>&nbsp;Origin’s native token OGN acts as the staking token for Origin’s NFT platform, Origin Story.&nbsp;&nbsp;Users who&nbsp;<a href="https://www.story.xyz/stake">stake</a> OGN are rewarded with a proportional share of 100% of platform fees generated across Story’s white label marketplaces.&nbsp;Learn more about OGN’s staking mechanics&nbsp;<a href="https://blog.originprotocol.com/introducing-ogn-staking-earn-eth-rewards-for-staking-to-origin-story-nft-platform-63c9126546b9">here</a>. &nbsp;<figure class="image"><img src="https://lh6.googleusercontent.com/rt_7i9_yDkMfytmPBF4jf_mmENQI8Cmpt802Yj4Y20K2v3TcfJKt1IpSvC_twDbsQ3FpJ-w_tFrK_l8V2zbJL-Zh0xpk2Zadok6V8nX6kFJ369nUptJSnq_9-1wpJI0QiOqp6ynI-8xF20S2euD_XXjRfkH6jLuSxec3NZYDv--bCK_q688XK4p8hXcrrw" alt="Edge Wallet OGN"></figure>&nbsp;<h2>About Origin Story</h2>&nbsp;Launched in July,&nbsp;<a href="https://blog.originprotocol.com/introducing-collections-branded-marketplaces-powered-by-origin-story-7b89f189ebd">white label marketplaces</a> are developed by Origin from the ground up for integration into partners’ native sites. In just a few short months, Origin has partnered with an array of leading NFT projects to provide bespoke marketplaces and complementary analytics dashboards for their communities.&nbsp;&nbsp;The&nbsp;<a href="https://blog.originprotocol.com/nft-collections-using-origin-story-to-power-their-marketplaces-35d093586867">ever-growing list</a>&nbsp; of active partnerships includes the likes of&nbsp;<a href="http://pudgymarket.com/">Pudgy Penguins</a>,&nbsp;<a href="https://sappy-seals.story.xyz/">Sappy Seals</a>, and an&nbsp;<a href="https://marketplace.roofstockonchain.com/marketplace/roofstock">NFT marketplace for physical real estate</a> built for RoofStock onChain.&nbsp; &nbsp;Story’s marketplaces aggregate listings from major generic marketplaces (Opensea, Looksrare, x2y2, NFTX), affording users a safe browsing experience with comprehensive insights into the best legitimate deals on offer across platforms. Additionally, Story’s marketplaces integrate official rarity rankings devised by teams themselves.&nbsp;&nbsp;<h2>About Edge&nbsp;</h2>&nbsp;Formerly known as Airbitz, Edge is a robust, all-in-one, self custody exchange. Boasting support for 30 networks and 130 assets, the app allows users to freely store, transfer, and exchange their holdings. Edge’s unique approach to self-custody offers a Web2-style login interface with all the security, privacy, and autonomy benefits offered by Web3. The platform has garnered a host of accolades for its novel innovations, including being ranked as one of the top 3 mobile apps for Bitcoin at the 2014 Blockchain Awards. &nbsp;Want to start using Edge? Click&nbsp;<a href="https://dl.edge.app/originprotocol">here</a> to download and hold OGN today. &nbsp;

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Edge Adds Support for OGN

Want to read the full report? You can read it on our&nbsp;<a href="https://github.com/OriginProtocol/security/blob/master/audits/OpenZeppelin%20-%20Origin%20Dollar%20Convex%20-%20October%202022.pdf">GitHub</a>.&nbsp;In line with our commitment to security, Origin Protocol has commissioned&nbsp;<a href="https://www.openzeppelin.com/security-audits">OpenZeppelin</a> to review and audit new OUSD Convex strategies. The audit has been successfully completed, with no critical or high severity issues. &nbsp;Auditing the Ethereum Foundation, Coinbase, Aave, and others, OpenZepellin sets the standard for smart contract auditing. We’re thrilled to announce our latest audit for new strategies coming to OUSD, conducted by <a href="https://blog.openzeppelin.com/origin-dollar-audit-2/">OpenZeppelin</a>. &nbsp;We are excited to integrate the OUSD-3Crv strategy, which&nbsp;will help increase Origin Dollar’s yield to mid-single digits&nbsp;with the same best-in-class OUSD security and convenience.<h2>New Strategies Using Convex</h2>OUSD has developed two new strategies for <a href="https://jamesbachini.com/stablecoin-strategies/">generating yield</a>, the Convex Generalized Meta Strategy and the Convex OUSD Meta Strategy. &nbsp;As a refresher, Curve is a decentralized exchange that allows users to trade or provide liquidity to earn fees and rewards. Curve’s 3Pool (3CRV) consists of USDC, USDT and DAI, allowing users to deposit these tokens and traders to trade between them. Our original integration with Convex and Curve two years ago has allowed us to use this strategy.&nbsp; &nbsp;The Convex Generalized Meta Strategy allows us to utilize pools that pair 3CRV with other stablecoins, such as OUSD. Pairing 3CRV with OUSD to deposit into the OUSD3CRV pool allows traders to trade between OUSD, USDC, USDT and DAI. &nbsp; This liquidity position will be deposited into Convex Finance to earn staking rewards in the form of CRV and CVX, and trading fees from the pool. &nbsp;The difference between the strategies is that the OUSD Minting Strategy is able to mint OUSD to deposit into the OUSD3CRV pool to keep it balanced. The strategy has to burn the minted OUSD when they are withdrawn, so there is no dilution of OUSD. Furthermore, OUSD tokens held by a contract are non-rebasing by default, so the yield generated for holders are not diluted as well. &nbsp;We see the minting strategy as an exceptional breakthrough, as other yield aggregators are unable to replicate it without their own stablecoin.&nbsp;<h2>Audit Findings</h2>A total of 14 issues have been found, the highest being a medium security issue which has been resolved:&nbsp; &nbsp;<ul><li>Critical Severity - 0</li><li>High Severity - 0&nbsp;</li><li>Medium Severity - 1 (1 resolved)</li><li>Low Severity - 9 (5 resolved, 1 partially resolved)</li><li>Notes and Additional - 4 (3 resolved)</li></ul>&nbsp;<h2>What Was the Medium Severity Issue?&nbsp;</h2>In several instances where the strategies utilized their token balances, the strategies did not validate if the balances match the expected or specified value. This means it did not account for tokens that can be sent to the contract directly, or assumed the contract has received the expected number of tokens.&nbsp; &nbsp;For example, if the minting strategy attempted to burn all its OUSD tokens, it would fail if its balance exceeds the specified range, which could occur if someone sends OUSD directly to the contract.&nbsp; &nbsp;This has been fixed in a commit by OUSD developers.&nbsp;<h2>Higher APY, Same Security</h2>At OUSD, we maintain our philosophy of security first to give our users the best risk-adjusted yields in DeFi. Even as we are confident in the ability of our engineers to ship secure code, and rightly so seeing the results of the audit, we patiently wait for audits before deployment of new contracts.&nbsp; &nbsp;There are no shortcuts to security, and OUSD embodies this.&nbsp; &nbsp;Other new strategies built on top of Curve, Convex, Aave and Compound are being built and can be monitored on our&nbsp;<a href="https://vote.ousd.com/#/">governance page</a>. The same security processes will be followed for these strategies.&nbsp; &nbsp;If you do not hold OUSD to earn passive yield right into your crypto wallet, you can acquire OUSD through a decentralized exchange aggregator like&nbsp;<a href="https://matcha.xyz/markets/1/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48">matcha.xyz</a>, centralized exchanges such as Kucoin or Gate.io, or use our own app on&nbsp;<a href="https://ousd.com/swap">OUSD.com</a>. &nbsp;

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New OUSD Convex Yield Strategies for Higher Yield, Audited by OpenZeppelin

<h2>Summary</h2>As one of the longest-standing projects on Ethereum, Origin’s mission is to bring non-fungible tokens (NFTs) and decentralized finance (DeFi) to the masses. By innovating consistently across these verticals with a user-first approach, Origin is simplifying the Web3 user experience, while also amplifying its utility by staying true to the core tenets of crypto.&nbsp;<h2>History of Origin Protocol</h2>Origin was founded in 2017 by seasoned entrepreneurs Joshua Fraser and Matthew Liu, who envisioned a platform for frictionless, decentralized commerce powered by Ethereum.&nbsp; &nbsp;As a result of this unerring conviction, Origin raised $38m in funding to bootstrap growth. &nbsp;The protocol has boasted a wealth of support since launching its native token, OGN, in January 2020. Initial sales rounds saw significant contributions from crypto-focused firms including Pantera Capital and Blockchain.com, as well as tech heavyweights such as YouTube founder Steve Chen and Reddit founder Alexis Ohanian.&nbsp; &nbsp;Four years later, Origin’s commitment to building infrastructure for decentralized commerce remains as unshakeable as ever. Recognizing that fresh entrants would seek out crypto for utility that centralized outfits cannot offer, Origin’s vision for seamless peer-to-peer marketplaces has honed in on the burgeoning sectors of DeFi and NFTs.&nbsp;<h2>Origin Products</h2>By focusing on NFTs and DeFi, Origin has developed products at the bleeding edge of innovation in these sectors. Origin’s NFT arm,&nbsp;<a href="https://www.story.xyz/">Story</a>, has partnered with leading NFT collections to build bespoke white label marketplaces, while the launch of Origin Dollar (OUSD) and Origin Dollar Governance (OGV) has pioneered novel mechanics in the realm of DeFi. &nbsp;<h2>Product Positioning: Origin Story</h2>Origin Story serves as Origin’s NFT arm, aiming to further innovation at the bleeding edge of NFT utility through groundbreaking products that tokenize real world assets, digital goods, and services. Story’s white label marketplaces are built to cultivate robust, inclusive platforms for the communities they serve, which include a number of premier pfp (profile picture) NFT collections.&nbsp; &nbsp;However, Story’s vision is by no means constrained to facilitating the exchange of digital art. The launch of the first marketplace for tokenized property exchange, built for real estate heavyweight Roofstock, evidences the vast, untapped utility that Origin is committed to unlocking. The marketplace’s first successful sale saw the seller incur a total of 3% in fees – well below industry norms – with both parties enjoying the benefits of rapid finality offered by the technology.&nbsp; &nbsp;NFTs are in their earliest innings. In the next 5 years, Origin imagines many industries being completely disrupted by NFTs. NFTs are a new primitive that allows for true digital ownership, scarcity, and provenance. Just like basic HTML websites later gave rise to multi-billion dollar industries like e-commerce, blogging, online media, and social networking, NFTs will disrupt the way that billions of users will interact with Web3. This technology will disrupt gaming, real-world asset tokenization (e.g. real estate, luxury goods, commodities), the creator economy, and ticketing.&nbsp; &nbsp;Origin recognizes that vertical-specific use cases and bespoke feature sets require marketplaces and engagement features that monolithic centralized operators like OpenSea will be unable to provide.&nbsp;<h3>White Label Marketplaces</h3>&nbsp;The non-fungible token boom has given rise to a crowded market of generic marketplaces and third party tools for analytics and rarity. However, the space remains fraught with malicious actors while the overall user experience remains rudimentary – leaving users more susceptible to fraudulent activity. Data suggests that&nbsp;<a href="https://www.theguardian.com/technology/2022/aug/24/nfts-stolen-non-fungible-tokens-criminals-scam-cryptocurrency#">over $100m in NFTs</a> has been stolen over the course of 2022 alone.&nbsp; &nbsp;Recognizing the need to create safe, user-first platforms for NFT exchange, Origin Story partners with leading NFT collections to create a safe platform for buying and selling NFTs. Story creates bespoke white label NFT marketplaces for individual collections, integrated directly into projects’ native sites.&nbsp; &nbsp;Story offers an all-in-one solution to the choice overload faced by market participants at present. By aggregating listings from major generic marketplaces, collectors are able to gain an overview of all legitimate listings, thus eliminating the risk of purchasing items from counterfeit collections that have flooded generic marketplaces.&nbsp; &nbsp;While an array of third party rarity ranking tools are now available to NFT enthusiasts, Story integrates official rarity rankings devised by the projects themselves, taking into account each community’s unique tastes and prized attributes. &nbsp;<figure class="image"><img src="https://lh5.googleusercontent.com/UHe9L7i6IQr3Hu8Qr0ypL4YkrIe2qLrHaojeGarFw5OUFVxc4qK7O13Z1Ro-gUwhRwoNATNXnUilLrO2z-_j3ETjzH4rzc9_WE0QBz2bT-tVAlZO3L3I-tcgnKqQo2FjuEtnTDO0u24FLsCPACS2XVg__X1j1QIo7pZ1xiyV-4UY_h_q1iK9y1GD5Hflig" alt="Sappy Seals Origin Protocol Marketplace"></figure>&nbsp;Further, Story’s white label marketplaces also include a comprehensive analytics dashboard comprising key holder insights to inform traders’ decisions.&nbsp;&nbsp;<h3>Origin Story’s OGN: Breakdown</h3>&nbsp;Origin’s native token OGN now has fresh utility as the staking token for Origin Story. Holders who stake their OGN on Story are rewarded in ETH and OGN accrued from 100% of fees across Story’s white label marketplaces.&nbsp; &nbsp;Tokenomics: &nbsp;<a href="https://www.story.xyz/stake">OGN staking</a> is delineated across seasons, with each season running for 120&nbsp;days.Just over 507 million&nbsp;OGN are currently in circulation, with over&nbsp;39 million OGN&nbsp;staked during Season 2. &nbsp;<ul><li>Stakers earn 1 Point per day per token throughout the season.</li><li>Users may stake OGN for the first&nbsp;90&nbsp;days of the season, marking the end of the staking window.</li><li>At the end of the season, accrued rewards are disbursed in proportion to points earned by stakers.</li><li>While users may unstake their OGN at any time, doing so results in a forfeiture of all points earned.</li><li>Stakers have&nbsp;30&nbsp;days after the end of a season to claim their rewards, with all unclaimed rewards rolled over into the following season’s rewards pool.</li></ul>&nbsp;The season-based model has been implemented in order to incentivize users to stake OGN early on, and for the entire duration of a season, to benefit from maximal rewards.&nbsp;&nbsp;<h2>Product Positioning: Origin Dollar (OUSD)</h2>Launched in September 2020,&nbsp;<a href="https://www.ousd.com/">OUSD</a> offers groundbreaking innovation in DeFi. Fully collateralized by reserves of the space’s leading stablecoins – USDT, USDC, and DAI – the novel, yield-generating stablecoin allows users to accrue yield directly in their wallets, without the need for staking or lockups. OUSD’s architecture ensures that yields will consistently outperform those found on the underlying protocols used, namely Compound, Aave, Convex, and Curve.&nbsp;With record-high inflation and multiple CeFi failures (e.g. FTX, Celsius, BlockFi), the timing is perfect for a truly decentralized, high-yield product that is transparent, battle-tested, and risk-averse. &nbsp;OUSD has been developed with a consistent emphasis on protocol security. The protocol’s smart contracts have been&nbsp;<a href="https://docs.ousd.com/security-and-risks/audits">comprehensively audited</a> by leading security firms including OpenZeppelin, Certora, Trail of Bits, and Solidified, with internal audits being regularly conducted. Beyond these robust measures, OUSD’s open-source codebase can be monitored by skilled community members to rapidly identify any potential threats. &nbsp;Origin’s commitment to disruptive innovation is evidenced by OUSD – the first stablecoin that generates yield passively and eliminates the complexities of staking and protocol management. This represents a crucial leap towards broadening the DeFi sector’s overall accessibility and driving financial access to the masses. &nbsp;OUSD’s underlying reserves are allocated to the space’s most robust yield-generating protocols: &nbsp;<ul><li>Reward fees are accrued by allocating reserves to Compound (COMP), Aave (AAVE), and Convex (CVX).&nbsp;</li><li>Automated Market Maker&nbsp;(AMM) fees are generated by providing stablecoin liquidity to Curve.</li><li>Liquidity mining rewards&nbsp;are accrued from all four protocols and converted to stablecoins to provide additional yield.</li></ul>&nbsp;OUSD boasts a unique&nbsp;<a href="https://docs.ousd.com/core-concepts/elastic-supply">elastic supply</a> that expands as more OUSD is minted and yield is accrued from strategy allocations. &nbsp;<figure class="image"><img src="https://lh3.googleusercontent.com/WWf2PfmRy9ac9ptUCcUmm1pjX38TKQAX_bXuiSe5QiRadu7fBKoxpbZIFVoaBmCZI14sN3ft1HFlGlnCJYw4qWagtl3BgTp2rX1slHFtA_RPwT18QLsLiltn9BjLqVWpSnALk-uHivO80fve2dkYhEC5NOMY_Hj7qbshWVEBT_MO2c4KNB1TkEJINBMe1w" alt="OUSD minting"></figure>&nbsp;<h3>Origin Dollar Governance (OGV): Breakdown</h3>&nbsp;Recognizing the need for independent governance for Origin’s NFT and DeFi products, Origin Dollar Governance (OGV) has been developed as the governance token for the OUSD ecosystem in order to promote decentralization and empower the community to drive key protocol decisions.&nbsp; &nbsp;Users may&nbsp;<a href="https://governance.ousd.com/stake">stake</a> OGV with a lockup period of anywhere from 1 month to 4 years. In return for staking to the protocol, holders are issued non-transferable vote-escrowed OGV (veOGV), which offers economic and voting power. veOGV issuance is determined by the amount of OGV staked and the duration for which it has been staked, thus rewarding those with a long-term commitment to the protocol’s success. &nbsp;Strategy allocations for OUSD’s reserves are determined on a weekly basis via a governance vote. &nbsp;OGV was launched in the form of an airdrop to OGN holders on 12 July, 2022, with a claim period of 90 days. All unclaimed OGV – 9.33% of supply – was&nbsp;<a href="https://blog.originprotocol.com/ogv-token-burn-f421667e1552">burned</a> following the closure of this window on 10 October, 2022.&nbsp;&nbsp;Over 72% of all OGV is currently staked, with Origin and its founders locking up the majority of their holdings for the maximum 4 year staking period. Stakers currently earn a 71.01% variable APY. The token’s high staking rate evidences the community’s conviction in its long term growth, while the consequent reduction in liquid supply serves to boost OGV’s performance.&nbsp;At present, OGV’s circulating supply amounts to&nbsp;859,782,377 OGV.&nbsp;<h2>Origin’s Vision for a Decentralized Future</h2>Crypto is now at an inflection point for mass adoption, with millions of new entrants being observed over recent years, and millions more eager to benefit from the potential applications of decentralized value exchange and accrual.&nbsp; &nbsp;Origin’s renewed vision underpins a commitment to onboarding the next wave of adopters, equipping users with all the tools they need to scale the realms of NFTs and DeFi with a radically simplified, user-first approach.&nbsp; &nbsp;Origin’s products serve to bridge the gulf between Web3’s utility and Web2’s ease of use, with beautiful, seamless, groundbreaking technology that encourages disrupters across the globe to participate in a future of decentralized peer-to-peer exchange.&nbsp; &nbsp;The power of blockchain technology has been evidenced by its exponential growth over the last decade. Origin aims to bring this infrastructure to the masses, while also disrupting the legacy mechanics of vast untapped industries to drive fair and innovative value creation.&nbsp;

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Origin Protocol: History, Product Positioning, and Vision for the Future

===================================================================================I've been in this game for years, it made me an animalIt's rules to this shit, I wrote me a manualA step-by-step booklet for you to getYour game on track, not your wig pushed back&nbsp;- The Notorious B.I.G&nbsp;Fate loves irony. The eternal wisdom of T.H.E. Biggie Smalls could have saved us from the successive controlled demolitions that have rocked crypto since this big year began. &nbsp;&nbsp;Alas, it seems the false gods’ playlists are as trash as their risk management.&nbsp;&nbsp;<h2>From Revelations to Genesis</h2>Number 4, I know you heard this beforeNever get high on your own supply&nbsp;Rummaging through the wreckage of the past year, it’s hard to unwind the ball of shrapnel that’s drained &nbsp;over 11 figs from the market.&nbsp;But one thing is clear – we’ve been rolling drunk on leverage since The Great Brrr began.&nbsp; &nbsp;&nbsp;For ordinary people, taking on debt has been a&nbsp;necessity in a macro climate where individuals are watching their spending power evaporate in real time. With global inflation soaring and JPow aggressively hiking, the average citizen is being squeezed harder than an Alameda stop hunt.&nbsp; &nbsp;&nbsp;<figure class="image"><img src="https://lh6.googleusercontent.com/2jlsMdtEeKlyl5Q55ffICKwYapD5aVREUKDpg_H3pFmxai4euUS-O1OjzPa0Cktm88H329a-ClMZtO6OTEF4zyH-ZiJdK3U0oiHUT48stxt-KsvGp9IwfdaLxg1SV1txI9R1XlF1BShDvvkKDJeTHeZHXZl71o5ZBdMBjHUaezX2tVjoNXpABQ1wkt4L1w"></figure>&nbsp;Rekt is an understatement.&nbsp;This logic falls flat when considering the actions of crypto’s biggest actors.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Number 6, that goddamn credit? Dead it&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; You think a crackhead paying you back, shit forget it!&nbsp;Successful CEX’s are, quite literally, free money printers. Similarly, multi-billion dollar hedge funds don’t need to do&nbsp;much&nbsp;to protect capital.&nbsp;Neither have any logical reason to recklessly deploy customer funds and dial up leverage like Adderall-fueled zoomers trying to make it all back in one trade. &nbsp;&nbsp;The fact that the market currently hinges on a&nbsp;<a href="https://decrypt.co/115243/genesis-trading-warns-of-possible-bankruptcy-as-post-ftx-fundraising-falters-report">&lt;$1B fundraise</a> is appalling. During 2021’s fever dream that figure was a drop in the ocean.&nbsp; &nbsp;&nbsp;While&nbsp;everyone&nbsp;who’s blown up this year is crawling out of the woodwork to blame LUNA for causing the contagion, this is a mid-curve excuse.&nbsp;&nbsp;Did the space’s “brightest” minds really fail to understand the protocol’s ponzinomics?How did these firms become&nbsp;so&nbsp;invested that they were willing to risk their balance sheets? &nbsp;&nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/0m8y5mgg56_j1ruAPENEUoUwIrZrEq0SSCZSRoTqqfUlvj2c77Placep1SEw-hWDV6X2PBxMtSPciK8rQxzCVQ7C6yfBI7ZByGynLwDP17FXNMWBSHWUUNhSZFe-vIt5fp5K363ntfUxIZuiFgtpU6sqPHWBsum6l70vzj7bC-q9dpiDDGFl2OqR6FJpWQ"></figure>&nbsp;Alright, which one of you actually had size? &nbsp;<h2>Back to The Main Character</h2>7, this rule is so underratedKeep your family and business completely separated&nbsp;Sam.&nbsp;Bankman. Fried.&nbsp;&nbsp;Little more can be written about the largest fraud this space has ever seen. In a not-so-shocking turn of events, the&nbsp;<a href="https://www.investopedia.com/terms/c/chinesewall.asp">Chinese Wall</a> between FTX and Alameda turned out to be little more than a sheet of single ply toilet paper.&nbsp;&nbsp;Polycules and DNC/SEC ties aside, SBF’s greed has single handedly destroyed the industry faith that crypto natives have tirelessly cultivated for over a decade.&nbsp;Yes, SBF dug a $10B hole trading customer funds and using illiquid shitcoins as collateral.&nbsp;Yes, SBF set the industry back years through his malfeasance.&nbsp;But counterparties are far from blameless. Did nobody at these firms bother to hit up CoinGecko or look up the definition of FDV? &nbsp;&nbsp;Most in the space recognized that Solana’s VC-backed ecosystem tokens claimed exponentially bloated valuations, primarily to dump on retail. And yet, counterparties lapped up these tokens in exchange for cold hard cash.&nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/cXDINqJOVZwRuP7OaA7enZ51_PQeRMaYkpoYcbSp8ACHXeKh5wiTd1OhCguOz_ikSjzTngoGXbhyleHjp5canZj591aweHKjCAkVIcKJP7rttK1P2HJnelk8RRwWSMmNNCErH5Hn7A57bU6YesH-uxL2mXLI-cXgCtwaOD_DAw_NVRZLTWrsbvom67Y6Og"></figure>&nbsp;Uh uh. I know what you're thinking. "Did he owe us six bill or only five?" Well to tell you the truth, in all this excitement I kinda lost track myself. But being this is an FTT printing machine, the most useless collateral in the world and would blow your books clean off, you've gotta ask yourself one question: "Do I feel liquid?" Well, do ya, punk?&nbsp;<h2>Closing Larps</h2>Number 3, never trust no-bo-dy &nbsp;&nbsp;The pantheon of idols has finally imploded. If anything, this seismic purge gives us a real opportunity for a hard reset.&nbsp; &nbsp;&nbsp;It’s now clear that 2021’s heroes were simply playing hot potato with a flaming ball of daisy-chained leverage. The net effect, of course, is that retail is left to pick up the pieces while the main culprits bide their time in obscene penthouses crowdfunded by their users. &nbsp;&nbsp;Crypto’s vision has never been to simply digitize the moral bankruptcy of Tradfi.&nbsp;&nbsp;As brutal as it is, this flush may be the wake up call we need to return to crypto’s core principles – decentralized value exchange built to wrestle the economic monopoly away from central banks. &nbsp;&nbsp;With BlockFi filing for bankruptcy and Genesis on the brink, it’s likely that more big weeks await us.&nbsp;Unless low liquidity volatility scalping is your bread and butter, it may be best to touch some grass for a while. &nbsp;&nbsp;Nobody ever got liquidated waiting to deploy capital… except Do Kwon.&nbsp;&nbsp;<figure class="image"><img src="https://lh6.googleusercontent.com/o7dUP11rZGGDAKE45AV-poFR4vMV7TBxI-luzY4RvrNTXt_n4eK1U2qomzWOqU4_A31Z_H3sJe-iHeLIeDcbv_EV-Hk-Z6OoK2APXLctK73G-5U6e6MQb9jjNcOlf-aSOwbIAaeCITyeG6R_M_p9UViJEz31UzQRP9Q33FjMCG2Q4ibtZEoYvWQDFtrA8w"></figure>&nbsp;Welcome to PvP &nbsp;

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The Goblintown Gazette: Edition 1

Every month, the Origin team publishes an update to our token holders and the broader community. Thanks for reading the November 2022 edition. &nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/AGv8BoAyWNOCJYzwR0qe1jcuLFsxvU-cmnPFtzPleFeMNDtC9oAq6C1aJIU3Mxk4dU_FzOrJPGj_HVwy5xFhCnFiUhjHuQFt6PLffhMWpKsWoQBg_bKRxWRz5JAtX53m8PQs255MrYGyeIesrxdsp7XWNla6yrt1R_8y6reGJ-m51A21FI2iDenLz8GPxg"></figure>&nbsp;While November 2022 wreaked havoc on the broader crypto markets, Origin continues to have a well-managed treasury and battle-tested security to drive its products’ growth. We did not have any direct exposure to FTX and have multiple years of runway in cash and stablecoins to continue pursuing our mission.&nbsp;Our condolences go out to the investors that are victims of the FTX scandal. Now more than ever, transparent, decentralized, and trustless solutions are needed to replace corrupt legacy corporations.&nbsp;Here’s what we’ve done in November to get closer to our shared goal.&nbsp;&nbsp;<h2>Summary</h2>For those of you strapped for time, here’s the tl;dr.&nbsp;Following months of development and strict auditing,&nbsp;<a href="https://ousd.com/swap">OUSD V2</a> is now live. The token is exactly the same as before, and no action is needed by users to gain additional yield via OUSD V2 strategies. OUSD V2 utilizes new Convex and Morpho strategies to earn higher and more diversified yield, while maintaining support for Compound, Curve, Aave, and Convex strategies OUSD has used prior.&nbsp;&nbsp;Current trailing 30-day APY is 8.49% – nearly a&nbsp; 300% increase since the launch of OUSD V2.&nbsp;While the Origin team expects OUSD yields to vary with macro conditions, boosted APYs are an indicator that the OUSD V2 launch was a success.&nbsp;Internally, Origin Story launched its NFT Intelligence Platform (NIP) this month, our enhanced backend platform that powers blockchain data intelligence on our Story NFT platform. This important infrastructure update will also serve as the foundation for us to pursue novel new NFT use cases with established brands and Web2 companies coming into Web3.&nbsp;&nbsp;Also new this month, Story user profiles allow users to select owned NFTs as their profile picture and display names on partner marketplaces. This is a first step toward a rich collector profile experience.&nbsp;&nbsp;The Origin team did extensive strategic planning and goal setting at our company offsite in the Dominican Republic this month, and we came back with insights regarding Origin Protocol’s products and market positioning. We’re honing in on our most valuable product offerings as we build the groundwork for what’s to come.&nbsp;<h2>Story &amp; OGN&nbsp;</h2>Guess what anon? You can now use NFTs as PFPs on Story Marketplaces.&nbsp;We’re excited to have launched our NFT Intelligence Platform (NIP) this month. NIP is a next generation back-end for Origin Story that gathers and stores metadata for NFT collections––NFT traits, ownership, listings, and sales history. NIP will provide an incredibly fast and up-to-date user experience for our NFT marketplaces, and give traders, collectors and holders critical insights into NFT collections and activity.&nbsp;The technology exposes a set of simple internal APIs for our marketplace front-ends to query all the data necessary for a great user experience. The data is kept fresh by monitoring blockchain events in real-time, and it subscribes to a variety of data sources across the industry to receive up-to-date NFT transaction data.&nbsp;&nbsp;Separately, our new&nbsp;<a href="http://story.xyz">Story website</a> is live! The site now displays a handful of our top partner marketplaces, making it easy for collectors to navigate across Story products. Visitors can also view OGN price, circulating supply, and market capitalization directly from story.xyz. Importantly, the site supports our new content management system, allowing for Origin to create its own blog and benefit from in-house content production.&nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/v_YPNhPIwb3efC4aHeo0SucCjbIZ_B5zDJaxnoeg4HFzFXWyo_tOo9TDrqpyHUmEeOSR8Gcwl9Aq9E14yTkHd0tFERUUTPB-3-cc4pL-fMp0RDl90ykxry2mj_uCYMvKQTlckv-7khLlm-1uDRIn2GnSyRoDLZk7FZHsSkPN0mceizG7MlIEDBwGs5OHxQ"></figure>&nbsp;Moreover, Origin Story launched its profile page update earlier this November. The update allows users to select an NFT from their collection to use as a PFP on partner marketplaces, as well as choose a display name in replacement of their wallet address.&nbsp;Profile support is the first addition to creating an NFT marketplace that serves as an all-in-one platform to better bolster community, conviction, and communication between partner collections and their holders. We’re excited to roll out features to further community interaction, as legacy solutions in this sector are polluted with scammers, grifters, and fraud.&nbsp;In regards to OGN, the token gained exposure to over 3 million investors this month with integrations on Edge App and Exolix Exchange. Over 50 million (~10%) of OGN supply is currently locked in season 2 staking, which commenced earlier this month on November 8th. Token holders can continue to stake in&nbsp;<a href="https://app.story.xyz/stake">OGN Season 2</a> until February 6th, 2023 to receive a share of marketplace revenue generated by Story products.&nbsp;<h2>OUSD &amp; OGV</h2>OUSD V2 yields have hit it out of the park… even without MakerDAO’s help.&nbsp;After intense auditing, OUSD V2 is now live! OUSD V2 adds&nbsp;<a href="https://www.originprotocol.com/openzeppelin-audit-ousd-yield-strategies">improved Convex strategies</a> and implements completely new strategies on&nbsp;<a href="https://www.morpho.xyz/">Morpho</a>. The trailing 30-day yield sits at over 8.2%––the best risk-adjusted rates currently available in DeFi. As a reminder, OUSD earns yield strictly through stablecoin strategies, eliminating risk of impermanent loss or directional exposure from holding volatile assets.&nbsp;We’re convinced OUSD V2 is the ideal stablecoin allocation for DAO and company treasuries, as these organizations can benefit from full asset custody and DeFi money market exposure with instant liquidity.&nbsp;&nbsp;<figure class="image"><img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_12_02_at_10_14_13_AM_a7c661c939.png"></figure> &nbsp;In a similar vein, more DAO proposals are in the pipeline to allocate part of their treasuries to OUSD. While the MakerDAO proposal MIP87 wasn’t ratified, initial polling from PopcornDAO, among others, indicate OUSD is on track to be added to their treasuries. With competitive yields paired with an emphasis on self-custody, we expect retail interest in OUSD to increase as we roll out our OUSD V2 campaign this December.&nbsp;&nbsp;OUSD and OGV were listed on Exolix this month, allowing a wider investor base access to these tokens. While DAO treasury management has been a recent focus for OUSD, we recognize that retail investors need a decentralized, transparent, and trustless way to generate yields now more than ever.&nbsp;<h2>OGN &amp; OGV Tokenomics</h2>OGV rewards increase as OUSD interest rates increase. OUSD interest rates are up BIG.&nbsp;&nbsp;As previously mentioned,&nbsp;<a href="https://app.story.xyz/stake">OGN Season 2</a> is off to a strong start with nearly 10% of OGN’s total supply currently staked. As revenue is accrued across our partner marketplaces, these funds are used to fuel OGN staking seasons. To mitigate revenue risks associated with volatile NFT trading volumes, Story has begun to experiment with different revenue models. Up front revenue, such as the revenue from our partner Roofstock onChain, was dispersed in OGN Season 1 and will continue to be dispersed in Season 2.&nbsp;&nbsp;Those who stake OGV earn yield from protocol revenue and OGV token distributions. As OUSD yields have increased nearly 300%, OGV staking rewards remain high. Moreover, investors who stake OGV have governance rights over OUSD allocations, and as more users mint OUSD to earn yield via OUSD V2, these governance rights become more valuable.&nbsp;<a href="https://governance.ousd.com/stake">OGV staking rewards</a> currently sit at 56.3% APY. Impressively, 78.5% of OGV is currently locked in staking, eliminating the majority of the circulating supply from hitting the market. OGV is supported on multiple centralized exchanges like Huobi, Gate, and KuCoin, although the simplest way for crypto-native users to gain exposure may be through&nbsp;<a href="https://app.uniswap.org/#/swap?outputCurrency=0x9c354503c38481a7a7a51629142963f98ecc12d0">Uniswap.</a>&nbsp;<h2>Ending Q4 2022: Our Core Focus</h2>We’re honing in on what matters most.&nbsp;The lack of mania in the markets has allowed Origin to take a step back and hone in on our foundation during the next bull market. Story plans to dive deep with its most valuable partners, and we expect to expand our partnerships with large tech companies looking to integrate non-fungible tokens into their technology stack.&nbsp;Now more than ever, there’s a clear need for self-custodial alternatives to centralized platforms, particularly in the sector of interest-bearing assets. Unfortunately, investors in FTX, Celsius, and BlockFi have learned the importance of transparency and self-custody the hard way from trusting corrupt institutions with their digital assets. Our goal with OUSD isn’t to simply provide an alternative, however.&nbsp;&nbsp;OUSD is built to onboard the next generation of crypto users to blockchain, offering the benefits of DeFi with next-level ease of use, security, and convenience. As more users adopt self-custody practices, Origin believes investors will seek passive yield opportunities with instant liquidity. In wake of CeFi insolvencies and complex DeFi functions too cumbersome for everyday users to manage themselves, crypto newcomers are left with few options. OUSD will fill this gap by providing users a safe and easy to use platform for wealth creation.&nbsp;<h2>Team Updates</h2>Talent is still running from CeFi to DeFi, and we’re here for it.&nbsp;&nbsp;&nbsp;We’re excited to announce the newest addition to the Origin team Hrik Bho, joining us as a full-stack developer! Hrik is a full-stack and smart contract developer specializing in Solidity and JavaScript.&nbsp;&nbsp;Hrik entered the web3 space by purchasing his first NFT during the 2021 bull market. Over that summer he fell in love with the community and decided he wanted to contribute to the space in a significant way. Outside of development, Hrik is obsessed with NFTs. He monitors market trends and prices daily, looking to add new pieces to his collection. As Origin Story continues to grow from both a technical and partnership perspective, Hrik will support the platform’s growth in various capacities.&nbsp;Aside from new hires, many Origin team members got to meet for the first time this November. Our team traveled to the Dominican Republic for its first team offsite since pre-covid, and the team shared its business development, engineering, and marketing plans for OGN, OUSD, and OGV under one roof.&nbsp;<figure class="image"><img src="https://lh4.googleusercontent.com/HN43IKRWnaepx03dB-ba-pBEJYMvOCky5EXqIy8XgCnPsSBtkMIz02YmXQwfa4dGOZ9q9NVn1hXl-ZBQUtpI-i4zMPsN9-Oj2CMIp3jcYJfBzGNM8zJ2vXUY4G4RH1U77_x9kk9P97h8KHXsZnL5E0ujPzUxgAUuFbVQveqV0ysllZoW6eEh0xip2qYtEQ"></figure>&nbsp;Want to join us on our next team offsite, and in the meantime, help us build the necessary infrastructure for sustainable, transparent, and secure wealth creation? Origin is still hiring for a handful of roles, and you may qualify! Below are some positions that we’re still searching for someone to fill:&nbsp;Did you catch that? We’re hiring!!&nbsp;<ul><li><a href="https://angel.co/company/originprotocol/jobs/1860239-product-manager-defi">DeFi Product Manager</a></li><li><a href="https://angel.co/company/originprotocol/jobs/308390-senior-solidity-engineer">Senior Solidity Engineer</a>&nbsp;</li><li><a href="https://angel.co/company/originprotocol/jobs/2360663-email-marketer">Email Marketer</a></li><li><a href="https://angel.co/company/originprotocol/jobs/2226610-performance-marketer-paid-ads">Performance Marketer</a>&nbsp;</li><li><a href="https://angel.co/company/originprotocol/jobs/1505992-product-manager-nfts">Product Manager (NFTs)</a></li></ul>&nbsp;<h3>Looking For: Shadowy Super Coders and Marketing Maniacs</h3>&nbsp;We are in search of experienced Product Managers for our NFT and DeFi platforms, a Solidity Engineer, and a full-stack engineer. Check out our&nbsp;<a href="https://angel.co/company/originprotocol/jobs">job postings</a>, come join us, or refer your giga-brain friends!

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November 2022 Token Holder Updates: OGN, OGV, & OUSD

Please join us in welcoming Origin Protocol’s youngest hire to date: Ryan McNamara.&nbsp;Ryan is a recent graduate from University of Michigan’s Ross School of Business but not new to the crypto-sphere. First onboarded to Ethereum’s blockchain via CryptoKitties, Ryan has been an active Ethereum advocate since 2016, starting the cryptocurrency club at his high school in 2017 and running University of Michigan’s Wolverine Blockchain club in 2020.&nbsp;<img src="https://cmsmediaproduction.s3.amazonaws.com/Screen_Shot_2022_10_24_at_11_45_26_AM_8b71b677d8.png" alt="Ryan McNamara Origin Protocol" srcset="https://cmsmediaproduction.s3.amazonaws.com/thumbnail_Screen_Shot_2022_10_24_at_11_45_26_AM_8b71b677d8.png 179w,https://cmsmediaproduction.s3.amazonaws.com/small_Screen_Shot_2022_10_24_at_11_45_26_AM_8b71b677d8.png 500w,https://cmsmediaproduction.s3.amazonaws.com/medium_Screen_Shot_2022_10_24_at_11_45_26_AM_8b71b677d8.png 750w," sizes="100vw">After seeing a need for cryptocurrency coverage at Detroit media outlet Benzinga, Ryan went full-time at the publication his Junior year. During his time at Benzinga, Ryan grew cryptocurrency readership from the tens of thousands to millions of readers per month, mainly through organic searches and SEO-optimized content.&nbsp;Ryan was first introduced to Origin Protocol via his livestream&nbsp;<a href="https://www.youtube.com/watch?v=ovIIKzeoM1U">Moon or Bust</a>, where he interviewed Matthew Liu a handful of times before meeting in person at NFT.NYC. After hitting it off with the Origin team, Ryan joined Origin last month to build out Origin Protocol’s new blog and manage product announcements pertaining to OUSD and Origin Story.&nbsp;Dedicating just about every hour of his waking life to Crypto Twitter and content management, Ryan is passionate about spreading the word about blockchain technology. In his own words, “One of the largest barriers to mainstream adoption of crypto is education. By educating those about the opportunities that lie within crypto, we can onboard the next billion users to blockchain. Sure, there’s plenty of UX improvements to do, but users need to know why it’s so important to get onboarded to crypto today.”&nbsp;When Ryan’s not writing about crypto, you can find him spending time driving or working on cars. While he loves a good manual transmission, he’s currently sporting a 2011 Ford Fusion with a license plate that reads “Bitcoin”–– a subtle reminder to take profits in the next bull market.&nbsp;As a self-proclaimed hypebeast, Ryan saw the potential for NFTs early. After covering Bored Ape Yacht Club news soon after the mint, he made his first large NFT investment a few days after the MAYC mint. Below is Ryan's Mutant #21468, which he plans on holding for the foreseeable future:&nbsp;<figure class="image"><img src="https://lh5.googleusercontent.com/JuYXyDLD7HEv4GjQcQD8ua2cTtwgA678eAEhevi14q0x3R1Xwh6zmUOVVRn_5yMe8vc8GKsEc5Kzh1g4ua7spIsMgmAHziZTnn0dQ6McKnL3BsG8N3thNq8LEbH-0Vqu9IZHL12HBGukA0TAjRxO2shWwehwV8NWnesYqJdjNW-OiyUMDWq_Ut1WcQ"></figure>To stay in touch with Ryan, be sure to follow him on&nbsp;<a href="https://twitter.com/ryanonchain?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">Twitter</a>!

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Origin Protocol Welcomes Ryan McNamara As Content Marketing Manager

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Onboarding the next
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A world-class team

Latest stories

Origin Protocol Welcomes Matt Bullock as Product Designer for OUSD

Let It Snow: Origin Protocol Welcomes Jonathan Snow to Our Core Team

September 2022 Token Holder Updates: OGN, OGV, & OUSD

Work at Origin

Engineering

Product

Join our mailing list to stay in touch

Onboarding the next 100M users to crypto

The record-breaking NFT platform

The yield-generating stablecoin

It's all about the community

A world-class team

Latest stories

Origin Protocol Welcomes Matt Bullock as Product Designer for OUSD

Let It Snow: Origin Protocol Welcomes Jonathan Snow to Our Core Team

September 2022 Token Holder Updates: OGN, OGV, & OUSD

Work at Origin

Engineering

Product

Join our mailing list to stay in touch

Onboarding the next
100M users to crypto