I was looking into the Origin USD (OUSD) and I thought it was a really interesting concept. It is a stable coin on the Origin network that is backed by other stablecoins (USDC, USDT and DAI, maybe others, but those were the ones I saw listed). When a user converts their stablecoins to OUSD, those stablecoins are then invested in DeFI protocols. The smart contract accumulates the earnings and automatically pays out to all OUSD holders to their wallets.
This provides a way for a user to hold a stablecoin, and earn interest, without having to lock it up, and it can be used to pay for services or send to other users… all while continuing to earn interest. I thought this might be a interesting concept for an Incognito based stablecoin (or maybe even a derivative coin) where the backed coins are used to provide liquidity in the pDEX…
Just a thought, not sure if anyone has seen this or has any thoughts around it… Here is the article for reference…