What's New in V2?

Origami now enables easy access to leveraged strategies in a simple vault interface with automated position management and auto-compounding.

  1. Leveraged Origami Vaults (lov) also known as lov-Strategy vaults allow users who deposit a yield-bearing token token (YBT) or native tokens as collateral to achieve instant leveraged exposure to either the underlying yield or points farming. The vault reserve for each lov-Strategy vault is the actual YBT such as sUSDe for the lov-sUSDe vault or wstETH for the lov-wstETH vault. In the case of the lov-USDe vaults, the vault reserve is simply USDe to enable leveraged farming of Ethena SATS. By depositing the reserve token to the respective lov-Strategy vault, the user will gain leveraged exposure to the same asset with no further debt position management required.

  2. Origami Vaults (ov) allow users to enjoy auto-compounded exposure to the target yield-bearing token (YBT) by selling rewards to increase vault reserves. Collectively, these vault reserve tokens are called oTokens. The oToken is backed 1:1 by the vault deposit token e.g. GLP or GMX. The user deposit will be automatically compounded with no need to regularly claim or sell rewards. The ov vaults were released in Origami v1 and have been deprecated in v2.

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