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Origin Dollar (OUSD) is the 1388th largest cryptocurrency in the world by market cap, valued at $34,855,772. The current price of Origin Dollar is $0.9996, which is -0.020% lower than yesterday. Prices have ranged between $1.007 and $0.996864 over the past 24 hours. All prices are listed in US dollars and accurate as of March 27, 2023 07:03 UTC.
The Origin Dollar, or OUSD, is a US dollar stablecoin associated with the Origin Protocol decentralized finance (DeFi) application. Original Protocol aims to bring DeFi and non-fungible tokens (NFTs) to a mainstream audience through its set of innovative products, which includes OUSD.
Unlike traditional stablecoins, OUSD continuously earns yield when held in a user’s wallet. This is achieved through the use of other stablecoins that exist within the cryptocurrency industry. Each OUSD coin is backed 1:1 by other stablecoins, including USDT, DAI, and USDC. As USDT, DAI or USDC is deposited within the Origin Protocol, OUSD is minted. The underlying USDT, DAI or USDC stablecoins are then lent to other decentralized finance (DeFi) platforms, such as Curve or Aave, which allows a yield to be generated for holders. OUSD maintains its peg with the US dollar thanks to its stablecoin reserves and also generates an annual percentage yield for token holders.
According to the Origin Dollar documentation, OUSD only integrates with lending protocols that offer over-collateralized loans with smart rules regarding liquidations. This ensures that the risk of liquidation remains as small as possible. All pool fees collected from the interest, trading, and rewards of DeFi applications are then converted into OUSD and offered as yield to token holders. The Origin Protocol aims to maximise these yields wherever possible by moving assets in and out of various liquidity pools within the DeFi sector.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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