1. OGN Buybacks & Staking
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Over 40.5 million OGN has been bought back equivalent to 6.2% of the circulating supply, funded entirely by protocol fees and DAO assets.
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Despite consistent buybacks, the DAO treasury remains strong at around $2.5–3 million in ETH, Super OETH, and stablecoins.
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OGN staking APY stands at 42.3% for max lock and ~30% for shorter locks, with nearly 39% of circulating supply (≈560M OGN) staked.
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Origin generated $1M in protocol revenue over the last 30 days, with around $200K in fees.
2. Borrow Booster & Morpho Markets
The OETH/USDC Morpho market on Ethereum offers negative borrow rates (–0.6%), meaning users are paid to borrow due to OETH yield incentives. TVL surpassed $3.4M, led by liquidity from MEV Capital. A second market on Base (SuperOETH/USDC) has around $1M TVL, with rates hovering between –0.5% and 1%.
3. ARM Vaults & Institutional Adoption
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The stETH ARM vault crossed $2.5B in total volume, with over $28.8M TVL and 4.5% APY, outperforming typical liquid staking yields by 50%+.
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Lido and MEV Capital have allocated liquidity to Origin’s ARM vaults, validating institutional confidence.
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A new EtherFi ARM has launched, with future plans to expand ARMs for additional restaked and LST assets. The EtherFi ARM is currently in testing and deposits are not yet enabled.
4. OETH Staking Upgrade
The upgrade replaces off-chain oracles with Merkle proofs, enabling fully on-chain validator verification, making Origin one of the first LSTs to achieve this.
The new setup eliminates off-chain trust assumptions, offering transparency and auditability ideal for institutional staking adoption.
Technical Advancements:
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EIP-7251 support enables validator consolidation of up to 2,048 ETH per key, reducing gas costs and operational overhead.
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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.
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Merkle proof validation allows the contract to verify Beacon Chain balances directly onchain, removing reliance on third party oracles.
5. Ecosystem Updates
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YO Protocol’s integration with the stETH ARM as routed $5M+ to the ARM ETH Vault.
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Summer.fi added the ARM as a yield strategy for its Lazy Summer ETH vault.
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Borrow Booster markets expanded to Ethereum Mainnet with the addition of MEV Capital’s OETH/USDC Borrow Booster Market on Morpho.