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The recently launched Origin (OUSD) offers passive income

Cryptocurrency

Origin, a peer-to-peer trading company, announced the launch of Origin Dollars, or OUSD. This stablecoin uses its reserve for the decentralized finance space (DeFi) and allows users to profit from maintaining it.

Origin announced earlier today that its stablecoin, Origin Dollars or OUSD, is now available. OUSD is a stablecoin that takes advantage of DeFi, allowing balances to grow without holders putting their coins in or having an account on the platform.

Matthew Liu, co-founder of Origin, said that at the moment only a small audience can and do understand DeFi, as the barrier to entry is much greater. The goal of Origin, and its OUSD stablecoin, is to make DeFi easily accessible to more people around the world.

The company announced that OUSD is currently supported 1: 1 by the three main stablecoins: USDT (Tether), USDC (Circle and Coinbase dollar) and DAI (MakerDAO).

To mint OUSD, users can easily deposit any of the three supported stablecoins in the new Origin app, or they can purchase Uniswap’s currency.

After a user buys OUSD, their investment will produce passive income in their portfolio, without the need for other actions. “OUSD automatically obtains competitive returns with DeFi protocols while it is still in your portfolio”Added the blog post.

Origin revealed that OUSD has an innovative design that ensures that users do not need to stake their coins or store them to participate in profitable DeFi strategies. There is also no need to withdraw or unlock your coins when users wish to transfer them to another wallet, thus ensuring that users do not spend gas charges and can conveniently switch between earning and spending coins.

Origin stated that “Your earnings increase steadily and are reflected in your growing OUSD balance, although they are still available for payments, commerce and peer-to-peer transactions”.

The passive nature of making money with OUSD makes it perfect for both sophisticated DeFi experts and novice users. Anyone can passively earn returns, without the stress and complexities associated with yield farming.

According to the blog post, OUSD stablecoin is a natural extension of Origin’s mission to promote peer-to-peer commerce. Origin believes that stablecoin OUSD will help boost the decentralized trading platform, as it uses DeFi and allows sellers and buyers to transact more easily.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.