OUSD
Origin Dollar
active
Crypto Backed
USD
Yield-Bearing
Market Cap $7M
OUSD is a USD-pegged, yield-bearing token launched in 2020. Origin documentation states that OUSD is currently backed by USDC and generates yield through Morpho and Curve strategies, with yield distributed through rebasing.
Key Data
| Backing | USDC |
| Auditor | OpenZeppelin; yAudit; NetherMind; Sigma Prime |
| Redemption | Origin documentation states that OUSD can be redeemed 1:1 for USDC. If enough liquidity is in the vault, redemption occurs after a 10-minute delay; otherwise it can take up to 24 hours. |
| Peg Currency | USD |
| Yield-Bearing | Yes |
| Launched | 2020 |
Supported Networks
L1 EVMEthereum
Cross-Chain Supply ($7M total)
Depeg History
| Date | Low Price | Duration | Cause |
|---|---|---|---|
| 2020-11-16 | $0.5400 | — | Smart-contract exploit affecting the OUSD vault |
Use Cases
Defi CollateralCorporate Treasury
Overview
OUSD is a USD-pegged, yield-bearing token launched in 2020. Origin documentation states that OUSD is currently backed by USDC and generates yield through Morpho and Curve strategies, with yield distributed through rebasing.
Key Features
- Rebasing token that increases holder balances as yield is distributed
- 100% USDC backing under current documentation
- Collateral deployed into Morpho and Curve strategies
- Direct 1:1 USDC redemption through the Origin dapp
Reserve Backing
USDC.
Supported Networks
Available on Ethereum.
Recent Activity
- 2026-07-01AdoptionCircle CEO touts USDC's network advantage as OUSD emerges
- 2020-11-16DepegSmart-contract exploit affecting the OUSD vault
- —Our coverageStablecoin Recap Jun 29–Jul 6, 2026: Stablecoin Market Capitalization Declines by $2.3 Billion
- —Our coverageOpen USD, Qivalis, and the Race to Own Stablecoin Settlement
Other USD Stablecoins
Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.