Origin Dollar update: OUSD Live price, price chart, news and markets

The OUSD price update as of now is $1.00. In the previous 24 hours, its trading volume was $387,576, and its value has increased by 0.16%. As of now, OUSD's live market cap is $7,480,542, and it is ranked as the #1389 on the Coincu. OUSD has a circulating supply of 7,472,063 and a maximum supply of 7,472,063.

What is Origin Dollar (OUSD)?

Origin Dollar (OUSD) is a new stablecoin known as Origin Dollar (OUSD) that was launched on September 20, 2020, on the Ethereum network. It is issued at a 1:1 ratio with popular stablecoins such as USDT, USDC, and DAI. The value of OUSD fluctuates around 1 USD, similar to other stablecoins.

OUSD allows users to earn a steady interest from yield farming activities simply by holding OUSD in their wallet.

How does Origin Dollar (OUSD) work?

Purchasing OUSD

Users have the ability to convert their existing stablecoins (USDT, USDC, and DAI) to OUSD using the Dapp provided by Origin Dollar. The amount of OUSD received by the user represents the equivalent value of stablecoins deposited into Origin Dollar's system.

Think of it as an indefinite bond that users can withdraw at any time (with a 0.5% redemption fee). Users can trade and transfer OUSD without any restrictions.

Selling OUSD

Users can convert their OUSD back into other stablecoins at any time using the Origin Dollar Dapp. The Origin Dapp intelligently routes users' transactions to provide them with the best available price. This means that the Dapp typically helps users sell their OUSD on AMM instead of exchanging OUSD with the vault and incurring a 0.25% exit fee charged on redemption with the vault.

The fee serves as a security feature to make it difficult for attackers to exploit any delay and prevent them from siphoning stablecoins from the vault in case of misinterpretation of assets. The fees exist to incentivize traders to hold OUSD for their short-term investment goals.

Yield farming

OUSD generates yield by deploying the underlying stablecoins deposited in the OUSD smart contract to other DeFi protocols such as Compound, Aave, and Curve.

In the future, new diversified strategies may be added to the vault. Interest collection, transaction fees, and reward tokens are pooled and converted into stablecoins to generate yield denominated in OUSD. Over time, the protocol will move assets in and out of different liquidity pools to provide the best yield for OUSD holders.

Elastic Supply

The profits generated are transferred to OUSD holders through Elastic Supply. OUSD continuously adjusts the money supply in response to the yield generated by the protocol. This allows the price of OUSD to remain at $1 while the balance in the token holder's wallet adjusts in real time to reflect the yield earned by the protocol. The end result is a stablecoin that is easy to spend, automatically earns high yields, and is desirable to hold for longer periods compared to existing stablecoins.

Origin Dollar (OUSD) Features

• Origin Dollar supports a wide variety of stablecoins, including USDT, USDC, and DAI. In the future, more stablecoins are planned to be supported.
• The yield farming operation is more efficient and less expensive compared to using Origin Dollar. Traders who only need to "swap and hold" can still earn stable interest.
• Elastic Supply ensures that the price of OUSD is pegged to 1 USD, and the supply of OUSD is continuously updated in real time as interest is generated.

Origin Dollar (OUSD) risks and limitations

• The APY presented on Origin Dollar Dapps depends on the yield farming strategies used by OUSD, rather than a fixed number. OUSD holders can still experience losses because the Origin Dollar smart contract is unaudited, and even if it successfully passes an audit, logic errors can still occur.
• There is an added risk for OUSD holders due to the implementation of yield farming strategies on different DeFi platforms. While Origin Dollar chooses to work with reputable platforms, there is no guarantee that these platforms will be free from hacks or bugs in the future.
• There are risks associated with the stablecoins accepted by Origin Dollar as deposits. Any loss in the underlying asset classes will result in a similar loss in the value of OUSD.