OUSD vaults
About OUSD vaults
Origin Dollar OUSD is used in 2 stablecoin vaults with $2.0M TVL. The largest vaults are Wrapped OUSD, VaultOUSD.
2 vaults are excluded from this ranking due to minimum TVL requirements or risk issues.
About Origin Dollar
Origin Dollar (OUSD) is a yield-bearing stablecoin issued by Origin Protocol on Ethereum. It automatically earns yield from DeFi strategies (currently Morpho) while sitting in holders' wallets, with no staking required. OUSD is backed by USDC, DAI, and USDT.
OUSD is issued by Origin Protocol on Ethereum. It is a rebasing ERC-20 token: the token balance in holders' wallets increases automatically as yield accrues, without any staking or lock-up.
Mechanism
- Backed 1:1 by USDC, DAI, and USDT held in reserve
- Yield is generated by deploying reserves into Morpho (previously also Aave, Compound)
- Auto-compounding — yields distribute directly to wallets
- Governance via OGN (Origin Protocol token) stakers
- 12+ security audits; operational since 2020
Security history
In November 2020 OUSD suffered a flash-loan exploit draining approximately $7 million. The protocol was subsequently relaunched with an upgraded, audited contract.
Status
Active on Ethereum with approximately $5.8 million TVL and a 5.49% 30-day APY (as of early 2025).
The current contract at 0x2A8e1E676Ec238d8A992307B495b45B3fEAa5e86 is the post-exploit version.
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Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Wrapped OUSD Unknown vault protocol | 6.6%* | 6.0%* | 30.9%* | 16.6 | 0.3% | 0.0% | OUSD | $1.94M $3.26M | 4.4 | --- | Unknown | Unknown |  | ||
VaultOUSD Unknown vault protocol | 0.0%* | 0.0%* | 0.0%* | --- | 0.0% | 0.0% | OUSD | $61.48K $119.05K | 3.4 | --- | Unknown | Unknown |  |
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