Origin Protocol’s primary goal is to provide users with better yields across different chains and assets, regardless of geographical location
By Temitope Olatunji
Edited by Julia Sakovich
Updated
3 mins read
Josh Fraser, the co-founder of Origin Protocol, an Ethereum-based platform that develops Web3 solutions, provided insight into the future of decentralized finance (DeFi) and the potential for liquid staking in an interview with Cryptonews.
Fraser entered the crypto space in 2010 when mining Bitcoin was relatively easier than buying; it only required a regular laptop to earn 50 BTC in block rewards. During this period, some even mined their phones to earn rewards. Despite this, the Origin Protocol co-founder was uncertain about navigating the digital currency industry, taking him another seven years before returning to the crypto space after being motivated by Ethereum, ultimately leading to the development of Origin Protocol.
Origin Protocol’s primary goal is to provide users with better yields across different chains and assets, regardless of geographical location. The protocol has developed Origin Ether (OETH), an ETH-pegged token that earns yield from staking. One of the team’s primary goals is to make OETH unique, providing users with liquid staking capabilities, and allowing them to easily enter and exit staking positions without experiencing slippage, regardless of how large their trades are.
To achieve this, Origin is expanding its presence beyond the Ethereum Mainnet, venturing into Layer 2 networks like Arbitrum, Base, and Optimism. He revealed that high ETH network gas fees and the attractive yield opportunities on other chains drive this multi-chain approach. The co-founder said:
“Gas on the Ethereum is quite prohibitive for a lot of people…And so big push for us this year is expanding from mainnet to Arbitrum and then later on Base and Optimism as well.”
The expansion to Layer 2 is a big shift for the project, as it has also received a grant of about 185,000 ARB from the Arbitrum Foundation. This financial support will help the Origin team develop its ecosystem. The co-founder also believes that many decentralized finance solutions are transitioning to layer 2 networks, enticed by the lower gas fees and new incentives.
The team also aims to solve the complexities and inaccessibility of staking by offering “risk-free yield” for those who do not have the required 32ETH to become an Ethereum validator or do not want to stake as high as that. He revealed that one of the unique characteristics of the liquid staking service is that ETH stakeholders are entitled to an equal amount of OETH, no matter the amount staked.
He further stated that the OETH tokens are redeemable, and the platform will handle every technical aspect, like managing validators and claiming tokens encountered by users and marketing the solution as user-friendly.
“We take care of all of that overhead for you. You don’t have to worry about it. And then, all of that yield, as it comes back, you don’t have to do anything to claim or harvest it; our balance will automatically increase in your wallet,” he said.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
