Archimedes has published an official blog post to announce its partnership with Origin Protocol for the launch of its upcoming blue chip lending and borrowing marketplace. The objective is to accelerate the scalability of the DeFi ecosystem while becoming more capital efficient.
The venture has also announced the adoption of a real yield approach to become a strong pillar for the decentralized finance industry. Lenders will be able to enjoy a favorable risk-to-reward ratio through this approach. The initial access will be offered to OUSD by the Origin Protocol, with a plan to launch soon on the Ethereum Mainnet.
Archimedes has chosen Origin Protocol as both share the common value of creating a long-term relationship to generate attractive returns for the users.
OUSD will feature in the initial days since it is the only stablecoin that yields interest without seeking to be lent or borrowed by the users. It can simply be kept in the wallet, and holders would still be able to add interest to it. It is currently registering a safe yield in the range of 6% to 8% APY.
The Origin Protocol team has proven to be stable and sustainable in the face of some of the market’s most difficult challenges.
Matthew Liu, the Chief Executive Officer of Origin Protocol, has said that everyone is thrilled with the partnership and the fact that Archimedes is using OUSD. Liu has further appreciated the unique leverage products of Archimedes for providing users with different options for risk and return.
The Origin Protocol’s transparency and emphasis on user security through ongoing audits make it an ideal fit for the partnership. OUSD is fully backed 1:1 by other stablecoins like DAI and USDC. It is an ERC-20 stablecoin that was launched in 2020 on the Ethereum blockchain.
OUSD can be obtained by simply exchanging existing stablecoins for OUSD. To do so, Origin Dollar holders must visit the official dApp or an AMM. After conversion, the wallet begins to accumulate a compounding return.
Archimedes is now working hard to bring more opportunities to the community of decentralized finance through innovation and experimentation.
Archimedes, which does not currently have a token on Mainnet, is offering its customers up to 10x leverage on idle liquidity. Its operations are backed by collateral, and its mechanism is engineered to generate returns while mitigating risks for the users. It is credited as being one of the early players to enter the DeFi industry, with the belief that it lacks sustainability.
The objective is to promote sustainability by employing idle liquidity and fostering long-term perspectives among all ecosystem participants. It is led by Oz, the Chief Executive Officer, who is supported by a solid staff that grows daily.
The partnership between Archimedes and the Origin Protocol is a new one with the potential to travel long distances.
Source: https://www.cryptonewsz.com/archimedes-announces-partnership-with-origin-protocol-for-the-upcoming-launch/