Generate Yield On OGN with Fyde Treasury Protocol (Part II)

Summary: Follow-up proposal to deploy idle OGN from the Origin Treasury into the Fyde escrow contract. This will accrue 36~60% APY for the next 6 months in the form of FYDE, and kick off a long-term partnership between Origin and Fyde. Note: This solely involves depositing OGN into a non-custodial smart contract. No OGN is sold at any point and 100% of deployed OGN is returned to the treasury at the end of the proposed engagement. There are also no lock-ups on withdrawals, so Origin can withdraw the OGN at any time during this engagement.

First Proposal (Passed): https://snapshot.org/#/origingov.eth/proposal/0xd0692f589e21e997e2b60301844af8a1f20395055a42905fd0392751ab43e6a5

Background: The Origin Treasury currently holds a large portion of OGN. No yield is currently being generated on the treasury’s OGN. Fyde presents a yield opportunity that ensures the protection of 100% coin principal. This yield is paid in FYDE tokens as part of our Treasury Incentive Program.

Why Fyde is providing an allocation of tokens to Origin: Fyde is a treasury management protocol focused on providing a novel route for treasury diversification, native token liquidity, and yield.

By engaging with the Origin Treasury, Fyde can distribute its governance token FYDE to strengthen the Origin Treasury. This also introduces Fyde’s Liquid Vault to the Origin community and opens a relationship between the two protocols for potential future collaborations.

Liquidity Terms: Provide a % of OGN Treasury holdings to earn a % of the total FYDE token supply equivalent to 36~60% APY.

Return Breakdown: 100% of coin principal returned after 6 months. +FYDE token allocation which can be used to further support Origin’s treasury. All funds can be withdrawn at any point before the end of the 6 months. If Origin chooses, Fyde’s Liquid Vault is available to obtain diversified market exposure.

Fyde Token Allocation: Receive a % of total FYDE token supply. 3.5% unlock at the end of the deposit period. Vesting: 6 months linear.

Next steps: Vote on deposit amount (OGN for x% of FYDE Total Token Supply, converted into APY yield). Deposit OGN into https://escrow.fyde.fi/ Earn FYDE tokens over the next 6 months. Return 100% of the principal OGN deposit.