Welcome To The Fold

Origami is a non-custodial automated leverage protocol launching on Ethereum & Berachain. Vault depositors can fold their Yield-Bearing Token (YBT) exposure to maximise capital efficiency whilst minimising risk of liquidation.

Since launch on April 13, more than $6.9M in deposits have entered Origami vaults.

Origami Points Season 1

Starting today 4.20.2024, Origami is excited to announce the launch of Season 1 for Origami Points (Ori) in anticipation of the Berachain launch. Ori Season 1 will end on September 20, 2024 or the launch of Berachain–whichever arrives sooner.

Origami Points (Ori)

Origami Points or Ori are designed to track user contributions to the long-term sustainability of the protocol over the course of the Season. We hope to align our users to activities that will promote the growth of the community and success of the protocol for years to come.

Eligible Vaults

The Origami Leveraged Strategy (lov) vaults supply user deposits as collateral to respective 3rd party lending liquidity pools to automatically maintain leveraged exposure to the same asset and farm associated rewards. Both current and upcoming lovStrategy vaults are eligible for Ori Season 1.

lov-USDe-a (5x Folded Ethena USDe & Sats)
This Origami vault accepts deposits denominated in USDe–Ethena’s synthetic dollar. While USDe does not have a native yield, each 1 USDe deposited into this vault is eligible for approximately 100x Sats multiplier after the 5x leverage is applied through the Morpho USDe/DAI 86% LLTV pool. Current borrow APY on Morpho will impact the yield in this vault.

Before depositing, read the documentation on risks associated with USDe: https://ethena-labs.gitbook.io/ethena-labs/solution-overview/risks

lov-sUSDe-a (5x Folded Ethena sUSDe yield & Sats)
This Origami vault accepts deposits denominated in sUSDe–the token that represents Ethena’s staked USDe. The variable sUSDe yield is derived from Ethena’s version of the “crypto carry trade”. The sUSDe token accrues value from the staked ETH that backs the USDe as well as the funding rate earned from Ethena’s short ETH position. Each 1 sUSDe deposited into this vault is eligible for approximately 25x Sats multiplier after the 5x leverage is applied through the Morpho sUSDe/DAI 86% LLTV pool. Current borrow APY on Morpho will impact the yield in this vault.

Before depositing, read the documentation on risks associated with sUSDe: https://ethena-labs.gitbook.io/ethena-labs/solution-overview/risks

Notice To Potential Participants

Users should be aware that the Ori Campaign is explicitly geared towards long-term participants and users. Do not participate in the Ori Campaign if your intention is to farm and dump a quick airdrop. Users who have a high time-preference and/or short attention span will be disappointed.

Participation in the Ori Campaign is strictly prohibited for users in certain jurisdictions, including the United States (see FAQ below for additional details about restricted jurisdictions). The relevant sections of the Origami web application will be blocked to users in such jurisdictions including our dApp UI.

Fortune Favours The Fold

Origami is a first-in-class automated leverage protocol that allows users to generate frictionless leverage to farm the underlying vault asset with no need to actively monitor the position health ratio. Origami currently supports leveraged Ethena USDe and sUSDe vaults with Eigenlayer LRT vaults soon to come. Stay tuned for more announcements as we release more details about Season 1 and new vaults being launched.

FAQ

What are the risks of depositing into Origami?

Please be advised that Origami products are experimental and use of Origami products could lead to a total loss of user funds. Before using any Origami products, we strongly encourage you to educate yourself about the risks by reading our documentation: https://docs.origami.finance/the-second-fold-v2/risks

Are there deposit and withdrawal limits?

Users should note that Origami vaults are subject to deposit and withdrawal limits based on the current Asset to Liability (A/L) ratio for that vault. There may be a delay or suspension in the access to deposited tokens until a rebalance or liquidity event occurs. Read more about the limits here: https://docs.origami.finance/the-second-fold-v2/limits

Can I track my Ori points anywhere?

Origami users will be able to track their Ori points in the dApp as soon as next week.

What jurisdictions are restricted from participating in the points programme?

Abkhazia, Afghanistan, Angola, Belarus, Burundi, Central African Republic, Congo, Cuba, Democratic People’s Republic of North Korea, Donetsk People's Republic (DNR) region of Ukraine, Ethiopia, Guinea-Bissau, Islamic Republic of Iran, Ivory Coast, Lebanon, Liberia, Libya, Luhansk People's Republic (LNR) region of Ukraine, Mali, Burma (Myanmar), Nicaragua, North Korea, Northern Cyprus, Somalia, Somaliland, South Sudan, Sudan (North), Syria, The Crimea, The United States of America, Venezuela, Yemen and Zimbabwe.

Any jurisdiction in which the entry into this Agreement or the ownership of the Tokens or the use of the Platform is prohibited by applicable Law.

Any jurisdiction which is subject to United States, United Nations or other applicable sanctions or embargoes.

Where can I find the Terms of Service associated with Origami and the Ori campaign?

Find the Disclaimer and Terms of Service here: https://origami.finance/disclaimer