Open USD (OUSD) Project Update

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Biggest Stories of 2025

• OUSD Collateral Simplification passed. A governance proposal to simplify OUSD's backing from a basket of USDT, USDS, and USDC to being backed solely by USDC passed with 83.89% of votes in favor, removing the USDT and USDS strategies (including the Morpho Gauntlet strategy for USDT and the Sky Saving Rate strategy for USDS) and setting the stage for new USDC-based strategies expected to generate higher yield. (November 9, 2025)
• OUSD Collateral Simplification proposed. Snapshot voting began on a proposal to adjust OUSD's collateral composition to be backed solely by USDC, with the Guardian (a 2/8 multisig, meaning a wallet requiring 2 of 8 signatures to execute transactions) responsible for swapping USDT and USDS into USDC and reallocating to existing or new strategies; voting was set to end November 8, 2025. (November 5, 2025)
• Avantgarde USDC Core Morpho Vault onboarded as an OUSD strategy. Origin Protocol DAO approved onboarding the Avantgarde USDC Core Morpho Vault as a new OUSD strategy to increase yield and broaden collateral exposure, initially capping the vault's USDC allocation to 25–50% of the amount deployable on Morpho, with the vault reporting a 9.37% net APY after performance fees. (August 6, 2025)
• OUSD Aave strategy removal rejected. A proposal to remove the OUSD Aave strategy failed to meet threshold requirements. (February 21, 2025)
• OUSD Aave strategy removal proposed. Onchain voting began on a proposal to remove the OUSD Aave strategy, with voting set to end February 21, 2025. (February 19, 2025)
• Curve Pool yield delegation passed. A proposal to delegate yield from the OUSD/USDT Curve Pool to the Curve Pool Booster passed with 100% of votes in favor. (February 6, 2025)
• Curve Pool yield delegation proposed. Onchain voting began on a proposal to delegate yield from the OUSD/USDT Curve Pool to the Curve Pool Booster, with voting set to end February 6, 2025. (February 5, 2025)
• OUSD AMO strategy removal passed. A proposal to remove the OUSD AMO strategy passed with 100% of votes in favor. (January 30, 2025)
• OUSD token contract upgrade passed. A proposal to upgrade the OUSD token contract passed with 100% of votes in favor. (January 30, 2025)
• OUSD AMO strategy removal proposed. Onchain voting began on a proposal to remove the OUSD AMO strategy, with voting set to end January 30, 2025. (January 29, 2025)
• OUSD token contract upgrade proposed. Onchain voting began on a proposal to upgrade the OUSD token contract, though the proposal did not provide a description detailing the upgrade; voting was set to end January 30, 2025. (January 28, 2025)