Chainlink Keepers Used by Origin Dollar to Automate OUSD

On November 30, Origin confirmed the integration of Chainlink Keepers to enable Origin Dollar (OUSD) rebasing more reliable and consumer-friendly. The integration advances their objective of making OUSD the simplest and most cost-effective option to earn the finest risk-adjusted returns available from DeFi.

Formerly, when significant mints or repays triggered rebases, OUSD would enhance everybody’s holdings by dispersing generated return. This means that OUSD consumers had no idea when their next dividend would arrive.

Origin nowadays is providing daily delight to their members, who see their balances improve day after day thanks to the efforts of Chainlink Keepers.Origin Dollar generates revenue in three ways: interest from lending platforms, transaction fees from decentralised exchanges, and harvesting (selling and reinvesting) rewards from any governance tokens supplied as incentives by the establishment procedures. Previously, these harvests occurred sporadically and at random periods, which is why Origin Protocol has introduced logic for Chainlink Keepers to ensure weekly harvesting of these prizes.

Chainlink Keepers is a decentralized smart contract automation system that activates essential smart contract operations depending on predetermined criteria.

Origin Protocol intends to adapt OUSD in the future to exclusively rebase on this fixed schedule, as the enhanced consistency may enable OUSD integrations easier for centralised exchanges. For the time being, their users can take use of both planned rebases and additional rebases throughout the day depending on user activities.

Origin Protocol finally chose Chainlink Keepers over all other smart contract automation systems due to its outstanding properties, which includes:

  • Good availability – Chainlink Keepers are managed by the same expert DevOps teams who have a proven track record of delivering exceptionally dependable data to Chainlink Price Feeds during periods of peak network problems and price fluctuations.
  • Cost Savings – Chainlink Keepers include various gas-optimizing elements that bring down the cost of automating maintenance operations, such as a rotating node selection procedure that prevents gas price bidding wars and stabilises pricing.
  • Decentralised Execution – Chainlink uses a decentralised and open pool of Keepers to help give major deliverables surrounding secure contract automation, reducing time and reducing the dangers associated with manual manipulations or centralised servers.

About Chainlink

Chainlink is the market leader in developing, acquiring, and reselling oracle services required to run hybrid smart contracts on any blockchain. Chainlink oracle networks enable smart contracts to link to any external API while leveraging safe off-chain analytics to enable feature-rich apps. Chainlink presently safeguards vast amounts of money across DeFi, insurance, gambling, and other important industries and provides a common gateway to all blockchains to global organizations and prominent data suppliers.

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