Origin - Strategic Pivot into a DeFi Powerhouse + LRT
$OGV saw a 100% gain after its tokenomics update
$OGN recently dropped hints of a new value accrual mechanism and I am expecting to see the same playbook
Here’s 5 game-changing alpha I caught in their community call 🧵👇
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As an early investor in @OriginProtocol, I've watched $OGV and $OGN transform into powerhouses over the past couple years.
While $OGN went up 20x in the 2021 bull market, $OGV only entered the scene in 2022 as the value accrual and governance token for Origin Defi.
It currently boasts a $110M+ TVL ecosystem and criminally undervalued with a MC of just $6M.
Recently, they have been dropping hints about the new OGN product.
If it can boost OGN tokenomics and fundamentally intertwine with their existing OETH and OUSD offerings, Origin will be positioned as a true powerhouse for DeFi.
Let’s first understand about what Origin does, OETH and OUSD
@OriginProtocol products are built with the vision to be fastest growing verticals in crypto and this gave birth to:
Origin DeFi - supercharge yields with interest bearing stablecoin and liquid staking solution
Origin Story - building the tools for NFT creators and builder to accelerate their NFT ecosystem
Something New? Per Origin's twitter, $OGN is getting a new product in DeFi this quarter, and it'll integrate OETH and OUSD.
OETH is pegged to ETH and uses ETH/LSTs as collateral.
OUSD is stablecoin pegged to the US dollar
The main difference is OETH uses ETH and liquid staking tokens (LSTs) as collateral rather than stablecoins.
1 OETH is always worth 1 ETH
Notice that @PrimeStaked has $OETH available to deposit for Eigen points, and is the only LST offering a 2x multiplier on XP!!
Here is what solidifies Origin’s foundation and some alpha into what is coming:
🔷 Interoperability of OUSD and OETH 🔷
The integration possibilities for OUSD and OETH are vast. Imagine these tokens being used seamlessly across chains, powering AMM transactions, and even revolutionizing NFT bidding pools for enhanced capital efficiency.
$OETH list of integrations is growing, including EigenLayer restaking and LRTs (mOETH), not to mention that they have partnerships with Pendle as well!
I won’t be surprised if both $OGV and $OGN builds in the LRT narrrative as this would be going hot in 2024.
🔷 OGN Value Accural 🔷
Origin's revamped the value accrual mechanisms for $OGV last October, which led to an impressive 100% price appreciation.
This is a playbook, which I can see being successfully replicated for $OGN.
🔷 Exploring New Frontiers 🔷
I’m hearing stuff about a potential CCIP integration, and it's likely they launch on OP, ARB, and/or BASE soon 👀
More alpha: @Optimism guys were in their community call and I heard that on going discussion are with the @arbitrum guys
This opens up doors for more avenues of growth and full value capture strengthening their market position as the capital often shifts across chains
🔷 Dual Focus on DeFi and NFTs 🔷
OGN was initially build with an alignment with the NFT market through Origin Story.
In a communnity call that I attended, it was hinted that the strategic pivot was to expand OGN’s exposure to DeFi.
In my opinion, its a brilliant strategy while they continue to leverage the success that Origin story have build.
🔷 Track Record of Excellence 🔷
What sets the Origin team apart is just their success stories and their foundational roots in the Ethereum ecosystem. Their team has been woven into the fabric of blockchain's history from the start.
At the helm are @matthewliu and @joshfraser, two entrepreneurs.
With experience leading teams at behemoths like Google, YouTube, Dropbox, and PayPal, they bring a wealth of knowledge and a proven track record of innovation.
Twitter: https://twitter.com/arndxt_xo/status/1754826303168192941