Archimedes, the upcoming ground-breaking DeFi lending and borrowing platform on Ethereum that brings long term real yields and up to 10 times collateral-backed leverage on high-quality yield-bearing stablecoin assets, is partnering with Origin Protocol. Origin is an Ethereum-powered platform that brings NFTs and DeFi to the masses and will help build and expand Archimedes' offerings via integrations with Origin's thoroughly vetted, high-quality suite of offerings.
Archimedes Finance Partnership with Origin Protocol
Archimedes has chosen Origin Protocol as a launch partner because of the protocol's robust performance in the current bear market and the resilience that Origin's USD-pegged yield-bearing stablecoin - OUSD - has shown over the last several quarters. Proven to have a strong peg mechanism and thoroughly battle-tested in different market conditions, Origin Dollar has consistently delivered and is recognized as a stable and sustainable project. Origin Protocol's values also align with those of the Archimedes team: building safe, secure, audited, transparent, and value-generating DeFi products and services for the masses.
How Archimedes and OUSD Work Together
Origin Dollar, or OUSD, is an ERC-20 stablecoin that is backed 1:1 by other stablecoins such as USDC and DAI. OUSD held in a user's wallet will immediately begin to accrue compounding yields that are generated by blue chip DeFi protocols. The OUSD smart contracts move stablecoin assets in and out of liquidity pools across different money markets and AMMs such as Aave, Compound, and Curve to provide the best possible yield for its holders.
Unfortunately, users seeking long-term, top of market yield in DeFi find themselves exposed to excessive risks. Some DeFi platforms take advantage of their borrowers by liquidating them, and fees can fluctuate significantly on such platforms. De-pegging of stablecoins, volatility of assets, hacks, and other risks can also lead to investor losses. These risks (liquidity, cost, and collateral risk) can be circumvented by tapping into collateral-backed and yield-bearing stablecoin assets on the Archimedes platform.
If you want to buy a leveraged OUSD position, you deposit your OUSD on the Archimedes platform by visiting ArchimedesFi.com. There, you can then participate in an Auction process to pay for leverage with ARCH tokens, the governance and utility token of the Archimedes platform. Archimedes' auction is built to find the fair market price for leverage. As an output, Archimedes provides up to 10 times APY on your OUSD collateral deposit and sends you an NFT representing the position. You can then hold your NFT position, sell it on an NFT marketplace, or unwind your position at any time to collect both the principal and any interest earned.
Lenders (liquidity providers) also benefit greatly from the Archimedes platform's economic activity, as it earns sustainable top of market yields from revenue share and emissions. Lenders provide 3CRV to the Archimedes 3CRV/lvUSD Curve pool in return for ARCH token dynamic emissions, other partnered protocol tokens, and a share of the fees paid by borrowers (leverage takers).
By building a sustainable, two-way lending and borrowing market and by integrating with OUSD, Archimedes is increasing capital efficiency, opening new income-generating opportunities for investors, and building out the next wave of applications and offerings bringing adoption to DeFi.
According to Oz Rabinovitch, Archimedes' CEO: "OUSD has been pressure tested in the different economic scenarios and its audits are very thorough. Matt and Josh are top notch founders who helped us from day one with Archimedes. Origin is proven to be a strong stable project with great engineers, product, and team behind it. They also live by the same values we live at Archimedes: transparent, focused, and ethical. That's why we've chosen our launch partner to be Origin Protocol with their OUSD stablecoin."
According to Matt Liu, Origin Protocol's Co-Founder: 'We are thrilled that Archimedes is using OUSD as a money lego to enable industry-beating stablecoin yields using leverage. When Oz, Archimedes' CEO, approached us with the idea of the Archimedes leverage engine, we were excited to partner with this new product offering for DeFi users. Archimedes' unique leverage products provide users with different risk/return options that are backed by our battle-tested protocol. We're excited to be the inaugural launch partner and bring the offering to our OUSD users, investors, and broader community.'
Archimedes is building a leading lending/borrowing market on top of any AMM. In essence, the project's vision is to create a sustainable, long-term, and accessible set of opportunities within DeFi for billions of people through an innovative and scalable technology solution. By solving the pool reward sustainability issue, offering up to 10x leverage for yield-generating stablecoins, and increasing capital efficiency, Archimedes is supercharging stablecoin assets and making it easier for investors to generate top of market APYs without any of the pool hopping or portfolio management and capital deployment overheads currently faced by DeFi investors. Learn more about the project at https://archimedesfi.com/.
About Origin Protocol
Founded in 2017, Origin Protocol is a web3 pioneer developing innovative products in the crypto industry's fastest growing verticals of non-fungible tokens (NFTs) and decentralized finance (DeFi). Origin's NFT platform, Origin Story, has powered NFT sales like 3LAU's $11.7M record-breaking music sale, the Charlie Bit My Finger viral video sale that generated global headlines, Paris Hilton's iconic "Past Lives, New Beginnings" series drop, and many more. Origin has worked with top NFT creators like Trevor Jones and Alotta Money as well as brands like Rolling Stones and Inspiration4/SpaceX, in addition to developing branded marketplaces for beloved NFT collections, including Pudgy Penguins and Karafuru.