Decentralized finance project Origin Protocol said it would issue Origin Ether , an ether derivative that allows holders to earn yields generated from staking ether on other protocols.
OETH holders can earn trading fees and token rewards through DeFi protocols Curve and Convex. Origin holds a significant amount of curve and convex tokens, allowing the protocol to boost yields through rewards tokens that are emitted to liquidity providers. Through OETH’s positive rebasing mechanism, yield is generated at least once per day directly in holders’ wallets in the form of additional units of OETH with no gas fees required.
“With OETH, you can earn an additional yield on top of the native staking yield that is available from trusted liquid staking derivatives without wasting hundreds of dollars maintaining your position,” Fraser added.