What Is Origin Protocol (OGN)?
OGN is the native token of the Origin, which is a Web3 protocol that runs on the Ethereum network and employs the Interplanetary File System (IPFS). The platform seeks to create a decentralized, worldwide marketplace for non-fungible tokens (NFTs) and decentralized financing (DeFi). Take a look at the Origin Protocol price chart above to see the current OGN price.
Origin provides users with a decentralized marketplace. It allows them to connect their Ethereum wallets, send messages, check product listings, make transactions, post reviews, and so on. Transparency, cheaper transaction costs, an incentive system, and greater accessibility are all provided by Origin.
NFT Launchpad and Origin Dollar (OUSD) are two main products of the Origin Protocol.
NFT Launchpad is an online shopping platform that allows NFT developers to sell their assets. Developers have a lot of control over their assets including branding, pricing, and so on. They can either place their NFTs on the Origin NFT marketplace or create their own storefronts on their websites. Besides, Origin also allows buyers to use fiat currencies to purchase NFTs, which is not the case with most NFT marketplaces.
Talking about the Origin Dollar (OUSD), it essentially is an algorithmic stablecoin. OUSD is pegged to the US Dollar and backed by other popular stablecoins (USDT, USDC, DAI) at a 1:1 rate. OUSD holders can generate 20%-150% profit simply by holding the tokens in their wallets, without the need to lock up or stake them.
10% of OUSD’s yields are used for the OGN token buyback-and-burn mechanism, which is a tool for raising the value of a crypto asset. How does it work? The project simply buys back its own tokens and then burns them, this way reducing its supply while increasing the price.
The Founders of Origin Protocol
Josh Fraser and Matthew Liu launched the Origin Protocol crypto project in 2017.
Josh Fraser has a degree in computer science. Apart from founding the Origin Protocol, he also co-founded such companies as EventVue, Torbit, Din, and PriceSlash.
Matthew Liu has a degree in management science and electrical engineering. Prior to founding the Origin Protocol, he worked as a product manager at YouTube, Google, Qwiki, and Bonobos. Besides that, he co-founded Unicycle Labs and PriceSlash.
The Purpose of OGN Tokens
The Origin Protocol token is a utility token. The main use cases of OGN are:
- Staking. OGN tokens can be staked in order to earn up to 25% profit.
- Trading. OGN tokens can be traded on various exchanges.
- Rewarding. OGN tokens are used as a reward token for the users of the Origin Protocol.
- Governance. OGN token holders have a right to participate in the decision-making processes considering the future development of the Origin Protocol.
Note that you can see the live OGN price on the aforementioned Origin Protocol price chart above.
Tokenomics of OGN
The max and total supply of Origin Protocol coins is 1 billion. 32,97% of the total supply was dedicated to Advisor, Strategic, and CoinList Sales, during which the OGN price ranged from $0.0685 to $0.1364. The remaining portion was distributed between the team, advisors, foundation reserves, ecosystem growth funds, and long-term partnerships.
The Origin Protocol price is subject to change, so keep that in mind if you're thinking about purchasing Origin Protocol tokens. This occurs because the volatility of the entire cryptocurrency market has an impact on the OGN price, just like it does on the pricing of other digital assets.
