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Pete
@slagathor
Hi everyone, Peter here from Origin Protocol! I submitted a candidate prop that went onchain Sunday and goes up for vote tomorrow at 6:45 PM PDT. Would love to know everyone's thoughts, it is for testing with just 1 ETH: https://nouns.wtf/vote/388
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Pete
@slagathor
I'll hang around here to answer any questions on Origin Protocol, OETH, or the proposal itself!
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Pete
@slagathor
Fun fact - OETH actually reused 95% of the codebase of previous Origin product, the Origin Dollar (https://ousd.com/). OUSD is essentially the same token, but uses stablecoin (USDC, USDT, DAI) as collateral instead of ETH and LSTs. OUSD officially launched in January 2020 and the codebase has been audited 10+ times!
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Pete
@slagathor
During the scary depeg weekend of 3/10/23 OUSD actually performed beautifully 😇 OIP-4 prevented minting of new OUSD w/ depegged stables, and the protocol exit fee was also able to collect a lot of cash from people exiting and trying to arb. $120k was collected for OUSD holders!
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Pete
@slagathor
Here's OIP-4 for anyone interested, the same mint protection was also implemented for OETH and it has also been working beautifully: https://github.com/OriginProtocol/origin-dollar/issues/1000
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seneca
@seneca
hey pete, thx for coming on to chat. personally, i don’t think capturing this type of upside and taking on its corresponding risk is a worthy pursuit for nouns given our focus being entirely outside of the financial eng real. either way, thx for considering and good luck!
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