Welcome back to another Token Holder Update! Origin made significant progress across its products in October, including the opening of the ARM ETH Vault, continued growth on Super OETH, and increased performance by Origin Dollar. The OGN DAO also saw a significant boost in its treasury, nearly doubling OGN’s protocol-controlled value.

In case you missed the announcements from our X account, here are some key highlights from October:

• The ARM ETH Vault opened for deposits, directing fees to the OGN DAO.
• Super OETH is now the top LST on Base and helped push Base to become the #1 Layer 2 by TVL.
• New integrations for Super OETH expanded its utility, including support from Silo Finance and Contango.
• Origin Dollar yield increased, with a 7-day trailing APY exceeding 10%.

With that, let’s dive into the details of these accomplishments and more, keeping you informed on all things Origin from October.

Automated Redemption Manager (ARM) ETH Vault

The Automated Redemption Manager (ARM) opened its ETH vault this month, offering a new way to earn passive ETH yield with a low risk profile and no exposure to impermanent loss. Over the trailing 7 days, the ARM has averaged over 7.3% APY, achieving well beyond 2x the yield of holding stETH outright.

The ARM earns yield by acting as an automated arbitrage mechanism, capturing profits through price discrepancies between stETH on AMMs and the underlying ETH that backs it. Lido Staked ETH commonly trades below peg, allowing the ARM to profit on the price spread between stETH and its underlying collateral.

All fees generated by the ARM are now routed to the OGN DAO, where they are accumulating in WETH. These fees, alongside Super OETH’s performance fees, are accruing to the DAO treasury, and OGN stakers will determine how best to utilize these funds for future initiatives.

Super OETH Growth and Integrations

Super OETH is the number one LST on Base, and it’s not even close.

Super OETH kept up its growth in October, with circulating supply increasing by over 70%. The token consistently delivered double-digit APYs, further solidifying its position as one of the most attractive ETH assets on Base. Additionally, Super OETH utility expanded on Base with new integrations on Silo Finance, Contango, and Spectra.

Our integration with Silo Finance demonstrated impressive growth, with nearly $10 million in Wrapped Super OETH deposits. SILO incentives for market participants made borrowing more cost-effective and increased lending APYs, providing lucrative opportunities for users to loop their positions.

Contango’s integration with both the Super OETH Silo and Morpho markets allows users to take on one-click leverage, currently offering a return on equity (ROE) up to 40%. Contango users can deposit a wide range of assets to loop Super OETH, including stablecoins, WETH, and Super OETH itself.

Origin Token (OGN)

New sources of revenue have created substantial value for the OGN DAO.

October was also a big month for the OGN DAO, which now has a new source of revenue following the ARM ETH Vault launch. The ARM collects 20% of LP profits as fees, which are directed to the OGN DAO treasury. As OGN stakers prepare to vote on how to use these funds, the DAO continues to grow in size and influence within Origin’s ecosystem.

The DAO’s treasury has seen significant growth from Super OETH’s success, with performance fees accruing to the DAO in WETH. In addition to performance fees, the OGN DAO now has a growing war chest of AERO, which it used to place first in Aerodrome’s Flight School program.

OETH, OUSD, and Super OETH Metrics

See how Origin’s OTokens have worked nonstop to earn you passive yield.

Super OETH achieved a 30-day trailing APY above 11.5% in October. With increasing AERO locks and becoming a top participant in Aerodrome’s Flight School, Super OETH has grown its influence within Aerodrome’s ecosystem, enabling it to continue earning outsized yield for holders.

Origin Ether closed the month with a 30-day trailing APY of 3.6%. Origin Ether’s yield is over 20% higher than leading LSTs, providing users with better staking rates thanks to its Curve integration and SSV token incentives.

Origin Dollar had a 30-day trailing APY of 8.6% in October. This marks a 40% month-over-month increase in APY, largely due to improved lending rates on Morpho Aave. OUSD collateral currently earns yield on USDC and USDT through Morpho, and it earns yield on DAI via the MakerDAO DSR.

Source : Origin Protocol - Nov 16, 2024