Origin Protocol announced the launch of $OETH, a yield aggregating $ETH derivative that aims to increase users' yield on $ETH by optimizing yield between liquid staking derivatives (LSDs) and DeFi pools.
Users can deposit $ETH or LSDs, including $stETH, $rETH and $frxETH, to mint $OETH and earn yields from staking and liquidity provision. $OETH is liquid and can be traded on DEXes. In addition, Origin Protocol has deployed an OETH/ETH AMO strategy on Curve, allowing $OETH holders to receive more yields by providing liquidity.
According to Origin Protocol, it may run its own nodes in the future and make $OETH a new LSD.
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Liquid Staking Derivatives (LSD)