Origin Dollar
Crypto Overview
Project Overview
Origin Dollar (OUSD) is a yield-bearing stablecoin built on the Ethereum blockchain that automatically generates returns while being held in wallets. Launched by Origin Protocol in 2020, OUSD maintains a soft peg to the US Dollar and earns yields from various DeFi protocols while sitting in users' wallets.
Intended Utility
The primary purpose of OUSD is to serve as a stablecoin that automatically generates yield without requiring users to stake or lock up their tokens. The yield is generated by deploying the collateral backing OUSD into various DeFi yield strategies.
Actual Implementation
OUSD is backed by other stablecoins (USDT, USDC, and DAI) as collateral. The protocol automatically deploys these assets into DeFi strategies to generate yield, which is then distributed to OUSD holders. The yield-generating mechanisms primarily involve lending protocols and liquidity provision.
Business Model Analysis
The protocol generates revenue through yield farming strategies and charges a performance fee on the yields generated. The team maintains transparency about the strategies employed and the location of funds through their dashboard and documentation.
Token Distribution & Governance
OUSD itself is a stablecoin that can be minted or redeemed 1:1 with supported stablecoins. The governance of the protocol is handled through a separate token (OGN). The protocol's smart contracts are verified and audited by multiple firms.
Crypto Impact
To assign a comfort level investing in Origin Dollar from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Origin Dollar.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.