wOETH is now integrated on @MorphoLabs! 🦋

The Re7 Vault by @Re7Capital has launched a wOETH/WETH market and is supplying WETH liquidity for wOETH users.

You can now loop your wOETH by depositing wOETH as collateral to borrow WETH. ♻️

Try it out: https://app.morpho.org/market?network=mainnet&id=0xea023e57814fb9a814a5a9ee9f3e7ece5b771dd8cc703e50b911e9cde064a12d

Introducing the brand new Origin Dapp and the OGV-OGN Migration Portal! The new dapp features:

▸ A unified experience for Origin’s products
▸ New staking mechanics for xOGN
▸ Built-in governance and new staking rewards

Here’s how to convert your OGV and get started with Origin’s new dapp experience 👇

🥁 A New Zealy Sprint Challenge kicks off today! Compete for a chance to win big by tackling tasks and rising to the top of the leaderboard. The challenge runs until June 4th.

Grab your share of $500 in spot prizes! Get questing now🫵 👇

https://zealy.io/cw/originprotocol/leaderboard/af406570-d6fc-4c51-bc88-fc1c4468e54f

Origin Ether turns 1 year old today! 🎂

Over the past year, Origin’s ecosystem, tokenomics, and products have benefited significantly from the launch of $OETH. Let’s dive into the road so far, and where we’re headed next👇

Ecosystem Growth:

🔷 Origin Ether’s ecosystem features more than 100 integrations and collaborations, ranging from DeFi protocols to exchanges and wallets.

🔷 One of our most exciting integrations was with @eigenlayer: OETH was one of the earliest LSTs supported by the restaking platform.

🔷 Since OETH went live on @eigenlayer in 2023, more than 15,000 OETH has been restaked on the platform.

Security:

Origin Ether’s battle-tested codebase has undergone several audits by OpenZeppelin, TrailofBits, and others to safeguard its infrastructure and protect users.

These measures have contributed significantly to maintaining the stability of the OETH peg, even during market downturns.

OETH Growth Analytics:

🔷 The 7-day average APY for OETH has consistently provided its users with the best ETH staking yield on the market.

🔷 Yield-earning supply has grown significantly over Origin Ether’s first year, currently standing at over 27,000 OETH.

🔷 Total yield generated for OETH holders has reached 1,349 ETH, equating to over $4 million in earnings for holders.

🔷 OETH has scaled rapidly since launch, now commanding a current TVL in excess of $100M.

🔷 Aggregate protocol revenue generated by OETH sits at over ~335 ETH (+$1,000,000).

🔷 These fees were collected by stakers. Following the OGV-OGN merger, these rewards will be streamlined to xOGN holders.

Looking Forward:

Following a successful year for OETH, there is potential for much larger growth in 2024.

Origin’s product suite is evolving, and OETH’s updated design plays a critical role in Origin’s continued expansion:

▶️Simplifying OETH collateral to 100% ETH backing further stabilizes its ETH peg

▶️OETH’s model is being leveraged to explore generalized native LSTs for EVM networks

▶️Mainnet OETH will serve as a base layer for derivative products on Base/Optimism

▶️Origin’s Automated Redemption Manager will power seamless OETH swaps with zero slippage

Our exploration into cross-chain expansion has led to wrapped OETH (wOETH) being deployed on Arbitrum, with further integrations on Base and Optimism in the pipeline. Leveraging Chainlink CCIP, OETH can now be safely bridged to layer 2s.

wOETH’s initial deployment has been bolstered by an LTIPP Grant from the Arbitrum Foundation, amounting to 185,000 $ARB.

These funds will be utilized to incentivize users on Arbitrum to explore new yield opportunities with OETH, across an array of leading platforms.

Here’s to another year of growth and innovation as OETH cements its place as a cornerstone of our product suite. Endless opportunities await – join us in shaping the future of yield:

May the 4th be with you 4⃣

GM A GM back is all intern needs to have a good day 🤝