This new partnership brings together two of DeFi’s most recognized and respected game-changers, promising new sustainable income-generating investment opportunities for lenders and borrowers
MIAMI, Fla., Jan. 23, 2023 (GLOBE NEWSWIRE) — Archimedes, the upcoming game-changing DeFi lending and borrowing platform on Ethereum, bringing long-term real returns and up to 10x secured leverage to high-quality returns- with stablecoin assets, works with Origin Protocol. Origin is an Ethereum-powered platform that will bring NFTs and DeFi to the masses and will help build and grow Archimedes’ offerings through integrations with Origin’s rigorously vetted, high-quality suite of offerings.
Archimedes Finance Partnership with Origin Protocol
Archimedes selected Origin Protocol as a launch partner due to the protocol’s robust performance in the current bear market and the resilience Origin’s USD-pegged yield-bearing stablecoin – OUSD – has shown over the past few quarters. Proven to have a strong retention mechanism, Origin Dollar has been thoroughly tested in various 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 secure, vetted, transparent, and value-added 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 like USDC and DAI. OUSD held in a user’s wallet immediately begins accumulating compound returns generated by blue-chip DeFi protocols. The OUSD smart contracts move stablecoin assets in and out of liquidity pools across various money markets and AMMs such as Aave, Compound and Curve to provide holders with the best possible returns.
Unfortunately, users looking for long-term market-rate returns in DeFi face excessive risks. Some DeFi platforms take advantage of their borrowers by liquidating them, and fees can fluctuate significantly on such platforms. Stablecoin de-pegging, asset volatility, hacks, and other risks can also result in losses for investors. These risks (liquidity, cost and collateral risk) can be avoided by resorting to collateral-backed and high-yield stablecoin investments on the Archimedes platform.
The story goes on
If you wish to buy a leveraged OUSD position, deposit your OUSD on the Archimedes platform by visiting ArchimedesFi.com. There you can then participate in an auction process to pay for the leverage with ARCH token, the Archimedes platform’s governance and utility token. The Archimedes auction was designed to find the fair market price for leverage. As a result, Archimedes provides up to 10x 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 liquidate your position at any time to receive both the principal and any interest earned.
The lenders (liquidity providers) also benefit greatly from the economic activity of the Archimedes platform, as it generates sustainable top returns through revenue sharing and issuance. Lenders provide 3CRV to the Archimedes 3CRV/lvUSD Curve Pool in exchange for ARCH dynamic token issuance, other partner protocol tokens, and a share of fees paid by borrowers (leverage takers).
By building a sustainable, two-way credit and lending market and integrating with OUSD, Archimedes is increasing capital efficiency, opening new income opportunities for investors, and building the next wave of applications and offerings that will bring DeFi to adoption.
According to Oz Rabinovitch, CEO of Archimedes: “OUSD has been pressure tested in the various economic scenarios and its audits are very thorough. Matt and Josh are top notch founders who have helped us with Archimedes from day one. Origin has proven to be a strong, stable project backed by great engineers, products, and teams. They also live by the same values as we do at Archimedes: transparent, focused and ethical. This is why we selected Origin Protocol as a launch partner with its stablecoin OUSD.”
According to Matt Liu, co-founder of Origin Protocol: “We are thrilled that Archimedes is using OUSD as a money Lego to enable industry-leading leveraged stablecoin returns. When Oz, CEO of Archimedes, 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 offer users various risk-reward options, backed by our battle-tested protocol. We’re excited to be the first launch partner and offering to our OUSD users, investors, and wider community.”
Learn more about the project and how it is generating real, stable high returns for investors by visiting https://archimedesfi.com/ and following the team on Twitter and Discord.
About Archimedes
Archimedes builds a leading credit/lending market on each AMM. In essence, the vision of the project is to create sustainable, long-term and accessible opportunities within DeFi for billions of people through an innovative and scalable technology solution. By solving the sustainability problem of the pool reward, offering up to 10x leverage for yield-generating stablecoins, and increasing capital efficiency, Archimedes increases stablecoin wealth and makes it easier for investors to generate top APYs without pool hopping or portfolio management and Capital investment overheads that DeFi investors are currently facing. Learn more about the project at https://archimedesfi.com/.
About the Origin protocol
Founded in 2017, Origin Protocol is a Web3 pioneer developing innovative products in the fastest growing sectors of the crypto industry, namely non-fungible tokens (NFTs) and decentralized finance (DeFi). Origin’s NFT platform, Origin Story, has driven NFT sales such as 3LAU’s record-breaking $11.7 million music sale, global headline-grabbing viral video sale of Charlie Bit My Finger, iconic series Past Lives, New Beginnings” by Paris Hilton and many more. Origin has worked with top NFT creators such as Trevor Jones and Alotta Money, and brands such as Rolling Stones and Inspiration4/SpaceX, as well as developing branded marketplaces for popular NFT collections including Pudgy Penguins and Karafuru.
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