Origin Protocol presents at Caracas Blockchain Week, showcases advancements in blockchain
In October, Bitcoin (BTC) reached a nearly 17-month high. Meanwhile, Latin America appears to be positioning itself as a blockchain hub, with the industry valued at over $500 billion in 2022. Notably, in Mexico, the world’s second-largest recipient of foreign remittances, there is a surge in crypto payments.
This shift has also been observed in various economies across Latin and South America, where blockchain and cryptocurrencies are seen as secure, cost-effective, and user-friendly alternatives to traditional financial systems.
Caracas Blockchain Week, held from Oct. 24 to 28, served as a gathering for industry professionals, including pioneers, thought leaders, startup founders, investors, partners, and projects. The event featured workshops, a hackathon, and an interactive conference highlighting projects and platforms in blockchain. These discussions showcased the potential of both emerging and established blockchain initiatives.
Topics covered included strategies for building the future of blockchain during bear markets and the evolving landscape of global crypto regulations. There was also an emphasis on web3 adoption, providing a platform for a diverse audience, including new users, seasoned developers, industry decision-makers, and project leaders, to discuss developing a blockchain-based web3 future.
Origin Protocol at Caracas Blockchain Week
Origin Protocol participated in the event as a fully-fledged platform service. Founded in 2017, Origin focuses on developing products for the crypto industry’s growing areas, including non-fungible tokens (NFTs) and decentralized finance (defi). Notable achievements include facilitating NFT sales, video tokenization, and collectible drops featuring figures like Paris Hilton.
Origin has an experienced team, a global community, a platform-native governance token, and various investment, staking, and digital asset products. Its products, OETH and OUSD, are yield-bearing tokens that offer passive yield without staking lockups.
Moises Sosa, the senior community manager at Origin, engaged with industry leaders to provide information about Origin’s offerings. Sosa explained how the platform simplifies access for the broader audience to benefit from straightforward yet effective integrations in web3.
He said:
“It’s always a pleasure to be surrounded by other enthusiasts from the web3 world, starting conversations, learning, and giving and receiving constructive feedback. At this year’s conference, we touched on the history of crypto, how it started, and how Bitcoin, Ethereum, and other blockchains have contributed to the expansion of the blockchain space. Thanks to the super-interactive workshops, discussion panels, and brainstorming sessions, we’ve had a great time collaborating with experienced founders, community leaders, marketers, traders, and more. We look forward to working together toward a bright web3 future.”
Understanding Origin Protocol
With six years of development, Origin Protocol is deeply integrated into Ethereum’s ecosystem. Origin invented the yield-bearing stablecoin in 2019, attracting hundreds of millions of dollars of investment over the following years.
In 2023, Origin used Origin Dollar’s codebase to launch a new yield-bearing token, Origin Ether (OETH). Similarly to OUSD, OETH earns passive yield for holders while keeping their funds always liquid. As an ether-pegged token, OETH tracks the price of Ethereum while making yield through liquid staking tokens and established DeFi strategies.
By optimizing yield between stETH, rETH, frxETH, and defi strategies, OETH has delivered higher APYs than liquid staking since its inception. Origin Ether has gained over $80 million in TVL in six months.
Origin’s NFT arm, Origin Story, has branched into real-world assets (RWAs) to unlock new utilities for NFTs. An example is Origin Story’s partnership with Roofstock onChain – Origin Story powers their NFT marketplace for real estate brokerage. By tokenizing properties, Origin Story and Roofstock have cut out redundant intermediaries, helping save home buyers and sellers time and money during the sale process.
Looking to the future
While the crypto space is still reeling somewhat from the effects of the 2022 bear market, Origin Protocol and events such as Caracas Blockchain Week demonstrate the advantages and quantifiable utility of web3 and blockchain-based offerings.
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