Josh Fraser, one of the co-founders of Origin Protocol, recently discussed the concept of liquid staking and the potential for earning better yields in the cryptocurrency space in an exclusive interview with the Cryptonews Podcast. Origin Protocol is an Ethereum-powered platform that focuses on developing Web3 technologies.
Fraser shared his early experiences with Bitcoin, revealing that he discovered the cryptocurrency back in 2010. At the time, buying Bitcoin was challenging, but mining it was somewhat easier. Fraser recalled the process of downloading software and running it on his computer for several hours, causing the device to overheat. Ultimately, he mined 50 BTC, which was worth very little at the time but has since become a significant fortune.
After a seven-year hiatus from the crypto world, Fraser was reintroduced to the space in 2017 by his co-founder Matt Lew, who encouraged him to explore Ethereum. This rekindled Fraser’s excitement for blockchain technology, and he began experimenting with trading crypto and building smart contracts to explore the possibilities.
The more Fraser and his team built, the more convinced they became that blockchain technology was revolutionary. They eventually settled on the idea for Origin Protocol, which they considered to be their most audacious and ambitious project.
Origin Protocol aims to provide users with better yields regardless of their location or the blockchain they use. One of their recent developments is Origin Ether (OETH), an ETH-pegged token that allows users to earn yield from staking. The team at Origin is also working on creating a Liquid Staking Token (LST) that can be easily traded on a one-to-one basis without concerns about slippage.
Fraser emphasized that the goal is to ensure that users can enter and exit LST without worrying about any slippage, making it the only token of its kind to offer this feature. Additionally, Origin Protocol is focused on expanding to other chains and Layer 2 solutions to take advantage of enticing yield opportunities and reduce gas fees.
Fraser highlighted that the team has received an 185,000 ARB grant from the Arbitrum Foundation, which will help grow the ecosystem. He noted that many DeFi projects are also shifting to Layer 2 solutions to save on gas costs and take advantage of new incentives.
Origin Protocol’s approach to staking is designed to be accessible and simple for users. Instead of requiring a large investment in ETH to become a validator, Origin allows users to stake any amount and receive an equal amount of OETH in return. The underlying ETH is put into 32 ETH chunks and deployed onto validators, with Origin taking care of all the overhead. Users don’t need to worry about claiming or harvesting their yield as it is automatically added to their wallet balance.
In addition to discussing liquid staking and better yields, Fraser also touched on his early experiences with coding and creating games at a young age. He co-founded several venture-backed companies before Origin Protocol and has worked with top internet retailers such as Amazon, Microsoft, and Intel.
The full podcast episode covers a wide range of topics, including the history and future of DeFi, the volatility of the crypto industry, Origin Protocol’s expansion to Layer 2 networks, token mergers, and the Automated Redemption Manager (ARM) concept.
Overall, Fraser’s insights shed light on the exciting developments happening in the crypto space and Origin Protocol’s efforts to make NFTs and DeFi more accessible to a broader audience.
