[FIP-30] Add FXN gauge to OUSD/fxUSD

Introduction

Origin Protocol is proposing to add a FXN gauge to OUSD/fxUSD. The goal of this proposal is to initially direct incentives to the pair, and then enable Pool Booster so the pool is consistently auto-incentivized. Passing this proposal will enhance liquidity, drive trading volume, and improve LP and voter incentives within the FXN ecosystem.

References & Useful Links

• Website:Origin Dollar (OUSD)
• Docs: Origin Dollar (OUSD) | Origin
• Github Page: Origin Protocol · GitHub

Protocol Description

OUSD by Origin, is a yield-bearing stablecoin. It is fully backed by reserves of USDC, and uses a rebasing mechanism to automatically compound yields to holders. OUSD deploys capital into DeFi strategies (lending via Morpho, market making via Curve) to generate returns, which are passed on to holders without lockups.

Specifications

Governance: OUSD is governed by xOGN stakers. The contracts are upgradable with a 48-hour timelock. The protocol is fully decentralized and autonomous, with OUSD Governance fully-owned by OGN holders.

Oracles: Oracles: Where available, Origin uses Chainlink to secure the protocol from pricing attacks: OUSD Registry | Origin

Audits: The Origin smart contracts have undergone multiple security audits, ensuring the highest level of safety for users. Audits can all be found here: Audits | Origin

Centralization Risks: OUSD is fully decentralized, utilizing DeFi-native yield rather than off-chain assets or opaque mechanisms. Contracts are fully owned by OGN governance. Everything in the protocol is fully decentralized, with no centralization vectors.

Market History: OUSD has established history with years of operation and significant TVL in DeFi. It has been live since 2020.

Motivation

The OUSD/fxUSD pool gauge request is driven by the goal of enhancing liquidity and adoption of both OUSD and fxUSD. By incentivizing this pool on Curve and extending to FXN gauges, we aim to deepen liquidity, reduce slippage, and create an efficient trading environment for users seeking stable, low-volatility exposure combining a non-rebasing stable asset with a rebasing yield-bearing one. We are planning on continuing to support more pools paired with OUSD and enabling Pool Booster to direct more yield to LPs. We will deposit incentives to help attract new LPs to this pool and to get the flywheel started.