In October, Bitcoin (BTC) reached an almost 17-month excessive. In the meantime, Latin America seems to be positioning itself as a blockchain hub, with the trade valued at over $500 billion in 2022. Notably, in Mexico, the world’s second-largest recipient of overseas remittances, there’s a surge in crypto funds.
This shift has additionally been noticed in numerous economies throughout Latin and South America, the place blockchain and cryptocurrencies are seen as safe, cost-effective, and user-friendly alternate options to conventional monetary programs.
Caracas Blockchain Week, held from Oct. 24 to twenty-eight, served as a gathering for trade professionals, together with pioneers, thought leaders, startup founders, buyers, companions, and initiatives. The occasion featured workshops, a hackathon, and an interactive convention highlighting initiatives and platforms in blockchain. These discussions showcased the potential of each rising and established blockchain initiatives.
Subjects lined included methods for constructing the way forward for blockchain throughout bear markets and the evolving panorama of world crypto rules. There was additionally an emphasis on web3 adoption, offering a platform for a various viewers, together with new customers, seasoned builders, trade decision-makers, and challenge leaders, to debate creating a blockchain-based web3 future.
Origin Protocol at Caracas Blockchain Week
Origin Protocol participated within the occasion as a fully-fledged platform service. Based in 2017, Origin focuses on creating merchandise for the crypto trade’s rising areas, together with non-fungible tokens (NFTs) and decentralized finance (defi). Notable achievements embrace facilitating NFT gross sales, video tokenization, and collectible drops that includes figures like Paris Hilton.
Origin has an skilled workforce, a worldwide neighborhood, a platform-native governance token, and numerous funding, staking, and digital asset merchandise. Its merchandise, OETH and OUSD, are yield-bearing tokens that supply passive yield with out staking lockups.
Moises Sosa, the senior neighborhood supervisor at Origin, engaged with trade leaders to supply details about Origin’s choices. Sosa defined how the platform simplifies entry for the broader viewers to profit from simple but efficient integrations in web3.
He stated:
“It’s all the time a pleasure to be surrounded by different fanatics from the web3 world, beginning conversations, studying, and giving and receiving constructive suggestions. At this 12 months’s convention, we touched on the historical past of crypto, the way it began, and the way Bitcoin, Ethereum, and different blockchains have contributed to the growth of the blockchain area. Because of the super-interactive workshops, dialogue panels, and brainstorming classes, we’ve had a good time collaborating with skilled founders, neighborhood leaders, entrepreneurs, merchants, and extra. We stay up for working collectively towards a vivid web3 future.”
Understanding Origin Protocol
With six years of improvement, Origin Protocol is deeply built-in into Ethereum’s ecosystem. Origin invented the yield-bearing stablecoin in 2019, attracting a whole bunch of thousands and thousands of {dollars} of funding over the next years.
In 2023, Origin used Origin Greenback’s codebase to launch a brand new yield-bearing token, Origin Ether (OETH). Equally to OUSD, OETH earns passive yield for holders whereas holding their funds all the time liquid. As an ether-pegged token, OETH tracks the worth of Ethereum whereas making yield by liquid staking tokens and established DeFi methods.
By optimizing yield between stETH, rETH, frxETH, and defi methods, OETH has delivered increased APYs than liquid staking since its inception. Origin Ether has gained over $80 million in TVL in six months.
Origin’s NFT arm, Origin Story, has branched into real-world property (RWAs) to unlock new utilities for NFTs. An instance is Origin Story’s partnership with Roofstock onChain – Origin Story powers their NFT market for actual property brokerage. By tokenizing properties, Origin Story and Roofstock have minimize out redundant intermediaries, serving to save dwelling patrons and sellers money and time throughout the sale course of.
Seeking to the longer term
Whereas the crypto area remains to be reeling considerably from the consequences of the 2022 bear market, Origin Protocol and occasions reminiscent of Caracas Blockchain Week exhibit the benefits and quantifiable utility of web3 and blockchain-based choices.
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