Support wsuperOETHb as a collateral asset on Venus Protocol BASE Core Pool

Summary:

Origin contributors would like to propose the addition of a Wrapped Super OETH (wsuperOETHb) market to Venus Protocol as a core market on the upcoming Base launch

Motivation:

Origin Protocol is a leading LST and yield generating platform. Integrating wsuperOETHb on Venus as a launch partner for the Base deployment will provide a high yielding collateral and new defi use cases to Venus users on Base, while aligning interests and creating a strong relationship between the two protocols.

Benefits

• Venus users will be able to take advantage of wsuperOETHb as a collateral asset, which currently offers 9-11% APY in ETH.
• This partnership will enable Venus to capitalize on our growth and allow both Origin and Venus users to capitalize on advanced defi strategies such as looping & leverage for the benefit of both protocols.

About Origin

Origin Protocol is a decentralized platform offering various yield generating products such as wsuperOETHb, OUSD, OETH & ARM. Origin has been building in the web3 space since 2017.

About Super OETH

Super OETH (superOETHb) is the next iteration of OETH, a superior LST with an extremely tight peg and high yields thanks to a combination of the OETH AMO and DVT direct staking through SSV/P2p. superOETHb yields are able to reach double digit levels, making it an exceptionally perfect token for lending as collateral. superOETHb was built reusing 90% of the code from OETH, for which the codebase has already been audited 12+ times.

Super OETH is the first token in a new category of liquid staking: Supercharged LSTs. Supercharged LSTs will have materially higher yield while being designed for L2s, with a similar risk profile to mainnet LSTs. Ethereum liquid staking is amplified with chain-specific, auto-compounded incentives. Deep concentrated liquidity pools guarantee exits with minimal costs - users will never lose ability to convert back to ETH.

Using Super OETH on Venus will produce higher yield than the other top LSTs and have a near perfect ETH peg. Utilizing a concentrated Aerodrome liquidity pool with the tightest tick possible helps make Super OETH the most pegged L2 LST currently available, while being able to reach double digit yields. Our vision for Super OETH is for it to become the most trusted LST for those seeking to use an LST for leveraged staking.

Specifications

Contract Addresses:

• superOETHb: 0xDBFeFD2e8460a6Ee4955A68582F85708BAEA60A3
• wsuperOETHb: 0x7FcD174E80f264448ebeE8c88a7C4476AAF58Ea6

Optional Oracle & Price Feeds:

• Dia Data: CDR #057: OUSD Price Feed - #6 by pete - CDRs - Custom Delivery Requests - DIA Forum | Cross-Chain Oracles for Web3
• Tellor: https://basescan.org/address/0x34fae97547e990ef0e05e05286c51e4645bf1a85

Next Steps

We would be happy to answer any questions on Origin Protocol, Super OETH, or the proposal itself. The Origin team can be reached at any time via the Origin Discord server.