Origin 2025 Token Holder Update

Summary

Welcome to October’s Token Holder Update. This month brought meaningful progress across Origin’s core products, led by new integrations for the Automated Redemption Manager (ARM) and the completion of audits for the upcoming OETH staking upgrade.

The ARM deepened its role in DeFi through a formal partnership with the Lido Ecosystem Foundation and integrations with YO Protocol, MEV Capital, and Summer.fi. Meanwhile, the OETH staking upgrade introduces key improvements aligned with Ethereum’s Pectra standards, enhancing validator efficiency and preparing Origin Ether for larger-scale institutional adoption.

Let’s dive into this and more in October’s Token Holder Update:

Origin Token (OGN): October 2025

Over 9.5 million OGN was bought back in October, bringing total buybacks to 40.6M OGN which represents 6.2% of the circulating supply.
All bought back OGN is used to fund staking rewards. Max locked OGN is currently earning 42.3% APY, with 39.3% of the circulating supply locked to earn rewards.
An additional 5 million OGN was locked as xOGN in October, bringing the total OGN locked above 559 million.
The protocol generated $1 million in revenue in October, with ~$200,000 in fees being sent to OGN stakers.

ARM Growth and Lido Partnership

Origin’s Automated Redemption Manager (ARM) continued to scale through October, deepening integrations across DeFi and attracting key partnerships with top protocols.

Most notably, Origin has entered into a formal partnership with the Lido Ecosystem Foundation, aligning with the largest liquid staking protocol on Ethereum to reinforce the stETH peg. The Lido Ecosystem Foundation now routes treasury assets to the stETH ARM to generate ETH-denominated yield while strengthening stETH’s onchain peg.

Recent integrations have further diversified the ARM’s reach in DeFi:

YO Protocol integrated the stETH ARM as part of its yield optimized ETH vault, bringing $6 million of new capital to Origin’s ARM.
MEV Capital has become a primary liquidity provider to the stETH ARM. At the same time, the ARM now routes idle ETH to MEV Capital’s Morpho market for lending yield when arbitrage opportunities aren’t present.
Summer.fi added the ARM as a yield strategy for its Lazy Summer ETH vault, routing an additional $4M in ETH to Origin’s stETH ARM.

Attracting Institutional Capital: OETH Staking Upgrade

Origin Ether is in the process of completing a major staking contract upgrade aimed at improving efficiency, security, and validator scalability. All three independent audits — from Nethermind, OpenZeppelin, and Sigma Prime — have been completed, marking the final step before deployment.

The upgrade introduces several technical enhancements that strengthen Origin Ether’s position as an institutional-grade staking asset:

EIP-7251 support enables validator consolidation of up to 2,048 ETH per key, reducing gas costs and operational overhead.
0x02 validator architecture adopts Ethereum’s latest validator standards from the Pectra upgrade, enabling onchain updates to withdrawal addresses for improved security, key management, and institutional flexibility.
Merkle proof validation allows the contract to verify Beacon Chain balances directly onchain, removing reliance on third party oracles.

These changes make Origin Ether’s infrastructure more scalable and transparent while paving the way for larger participants to deploy capital efficiently through Origin’s liquid staking products.

Ecosystem Updates

October brought several new integrations that strengthened Origin’s reach across DeFi:

Borrow Booster markets expanded to Ethereum Mainnet with the addition of MEV Capital’s OETH/USDC Borrow Booster Market on Morpho.
New incentives went live on Pendle for the stETH ARM to grow liquidity for fixed and leveraged yield opportunities.
Additional liquidity was added to the superOETHb/USDC Borrow Booster market on Morpho, curated by Yearn. As of writing, there is $600,000 of liquidity available with a total market size above $1 million.
Goo Money, a BTC-based digital asset treasury, committed 100+ ETH to Super OETH to earn yield on previously idle ETH held by the protocol.

Product Metrics

See the table below for updates on total value locked and APYs for each of Origin's products:

In Case You Missed It

That’s all for October’s update. We’re looking forward to completing Origin Ether’s staking upgrade, which will put OETH in a category of its own with new security and efficiency improvements. At the same time, we have big ambitions for Origin’s ARM, with more updates to be shared in the coming weeks.

In case you missed it, here are some of our favorite pieces of content from October:

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