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Getting Started With OETH: Supported Wallets and Exchanges

July 12, 2023
OETH wallets and DEXs

OETH and Liquid Staking

Ethereum’s transition to proof-of-stake has carved out an exploding sector as investors rush to benefit from the network’s staking rewards. However, directly staking ETH to the smart contract has an extremely high barrier to entry. Users need to lock up a minimum of 32 ETH and run a validator node in order to participate.

Liquid staking offers a far more accessible alternative, lowering the minimum threshold to just 0.01 ETH. Users who deposit ETH to these services receive an equal value of liquid staking tokens (LSTs) in return. LSTs can be used just like any other token, allowing users to retain full control over their invested capital while earning staking rewards.

Origin Ether (OETH) is a novel LST that compounds yield across DeFi via groundbreaking strategies. As a result, OETH delivers  higher yields than base staking rewards, empowering users to stack ETH faster than ever before.

Brief History of Origin DeFi and OTokens

Origin Protocol has remained at the forefront of blockchain innovation since launching in 2018. The protocol’s flagship products continue to disrupt the on-chain space across DeFi.

Origin DeFi has been relentlessly improving the staking and yield generation sector since launching Origin  Dollar (OUSD) in 2020. Fully backed by reserves of USDT, USDC, and DAI, OUSD introduced a seamless staking design that offers some of the highest stable yields on chain. Users who mint OUSD can trade it freely, with yield distributed directly to holders’ wallets – no lockups required. 

Origin Ether builds on OUSD’s battle-tested codebase to deliver outsized yields while retaining robust security and unparalleled usability. 

OETH utilizes reserves of ETH, stETH, rETH, and frxETH to achieve these goals. Since launching in May, OETH has generated more than 30,000 ETH in TVL while offering APYs in excess of 8%. This yield outpaces OETH’s underlying LSTs significantly. stETH, for example, currently delivers 3.08% returns.

Ethereum Wallets That Support Origin Ether

The scope of OETH’s presence is broadening rapidly. The following section highlights popular wallets that have integrated OETH.

Metamask

Metamask’s versatile, user-friendly interface has made it the most widely used wallet in Web3. Launched in 2016, the software wallet can be used as a Chrome extension or as a mobile app on Android and iOS.

While Metamask initially only supported Ethereum, the wallet now boasts vast multi-chain support. Users can track their portfolios, purchase crypto with fiat, swap tokens, and view their NFT holdings. 

Metamask’s robust architecture has garnered over 21 million users to date.

Wallet Connect

Wallet Connect is an open source protocol that connects Web3 wallets with decentralized applications (Dapps). The protocol achieves this by integrating QR codes and deeplinking.

Originally launched in 2018, the protocol’s v2.0 upgrade shipped in late 2021 with enhanced performance.

Wallet Connect’s ease of use has had a significant impact on the blockchain space. Prior to Wallet Connect’s launch, developers needed to integrate support for software wallets individually.

The service eliminates this requirement when establishing a secure connection to a Dapp, making on-chain transacting far more seamless. Integrating Wallet Connect allows Web3 platforms to integrate more than 100 software wallets.

Exodus Wallet

Exodus Wallet predates Metamask, having launched in mid-2015. The platform boasts support for over 50 networks via its Chrome extension and feature-rich desktop app. Exodus is renowned for its attentive support – users can access help 24/7 via the platform’s live chat. Exodus also offers a dedicated Bitcoin wallet, which has amassed over 4 million downloads. 

Rainbow

Rainbow is an Ethereum wallet that balances robust functionality with a fun user experience. The wallet’s engaging UI is designed to make on-chain transacting less intimidating for new adopters, abstracting away much of the technical jargon. 

Rainbow is available exclusively on mobile, offering apps for iOS and Android.

Ethereum DEXs That Support OETH 

While wallets offer a place to store and transact OETH, decentralized exchanges (DEXs) allow users to make the most of their holdings. 

OETH is available on an array of DEXs. However, the following platforms are most closely integrated with the protocol.

Curve Finance

Curve plays a vital role in Origin Ether’s ecosystem. The platform has become one of the largest DEXs in DeFi since launching in 2020, with more than $2B in total value locked (TVL). 

Curve offers extremely efficient stablecoin trading through cutting-edge mechanics that bolster liquidity and reduce spreads.

OETH harnesses Curve by supplying underlying collateral to Curve’s OETH-ETH pool. Providing this liquidity allows OETH to earn rewards in the form of trading fees. OETH executes this strategy via Convex Finance, which further boosts Curve yield. As a result, OETH is able to earn CVX rewards tokens in addition to Curve trading fees. 

The bulk of OETH’s liquidity can be found on Curve. Users can take advantage of this by providing liquidity to the pool or by using the deep liquidity to conduct swaps. 

Uniswap

Launched in 2018, Uniswap holds the title of the first successful DEX. Uniswap’s open source design allows anyone to create and deploy new tokens for trade.

This utility has contributed significantly to the explosive growth of DeFi in recent years. At present, Uniswap is one of the largest DEXs in the space, with ~$5B in TVL captured across six chains.

An OETH-ETH liquidity pool is live on Uniswap, offering yet another avenue to trade OETH. As with Curve, users can provide liquidity to this pool in order to earn rewards in the form of trading fees.

1inch

1inch is one of the space’s leading DEX aggregators.

The protocol was developed to address the problem of fragmented liquidity across DeFi’s many decentralized exchanges. The platform provides users with an overview of token rates across exchanges, empowering users to take advantage of the best deals on offer.

Despite launching on Ethereum, 1inch now supports a number of leading networks. Using 1inch to acquire OETH or underlying collateral ensures that you can get the best prices possible.

KyberSwap

KyberSwap is another prominent DEX aggregator, designed to deepen liquidity across DeFi. KyberSwap aggregates liquidity across more than 13 chains to deliver a seamless trading experience with an emphasis on usability.

Users can swap tokens directly via the dapp, place limit orders at specific prices, and even conduct cross-chain swaps.

Swap to OETH: Start Stacking ETH Faster

Despite only launching in May, OETH is disrupting DeFi with seismic force. The wallets and exchanges discussed above are only some of the platforms that have integrated the latest offering from Origin DeFi. Visit the ecosystem portal to discover more of OETH’s integration partners.

Origin Ether’s groundbreaking mechanics have seen the protocol claim its place as a leading LST on Ethereum.

OETH’s strategies ensure that users earn rewards above and beyond base staking rewards.

OETH has achieved this goal since going live, regularly generating yields above industry norms. The platform’s current 30-day trailing APY sits above 4%.

With OETH, users are empowered to earn outsized ETH yield without locking up funds. Utilizing ETH as collateral offers users an opportunity to compound their staking rewards while retaining liquidity in the form of OETH.

The aforementioned platforms offer many convenient options to acquire OETH. Users can also mint OETH directly via the native dapp at app.oeth.com.

Yasthiel Devraj
Yasthiel Devraj
Origin
Originally released by Origin Protocol
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