Origami Finance is a protocol that provides targeted leverage for any whitelisted liquid-staking strategy through a simple vault UX. The flagship product is the Leveraged Origami Token Vault (lovToken), which connects users who wish to lever up on their favorite liquid-staking yield strategy and liquidity providers who will supply USDC to the oUSDC vault to earn interest for lending to one or more lovToken vaults. The lovToken vault will automatically lever up when its collateralization ratio is healthy and deleverage when that the same ratio deteriorates. The prevailing borrow APR for each lovToken vault is also dynamic and will fluctuate depending on the utilization of the debt ceiling set for each vault. To ensure capital efficiency, the USDC will only be lent out if the borrow APR paid by the vault exceeds the APY for the designated USDC idle strategy. Overall, the Origami protocol design is highly modular and composable to accommodate new liquid-staking strategies and new sources of liquidity to maximize returns.

Zellic conducted a security assessment for TempleDAO from January 2nd to January 25th, 2024. During this engagement, Zellic reviewed Origami Finance's code for security vulnerabilities, design issues, and general weaknesses in security posture.