Origin Protocol

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Discover Origin Protocol's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Origin Protocol?

Origin Protocol (OGN) is a decentralized platform that offers a suite of DeFi products, including liquid staking, stablecoins, and automated redemption management. The OGN token serves as both a value accrual and governance token, allowing holders to participate in decision-making and earn rewards from the platform's various products. It is built on the Ethereum blockchain and aims to increase economic opportunities through its multichain yield ecosystem.

How is Origin Protocol used?

Origin Protocol (OGN) is a cryptocurrency that serves as the native utility token for the Origin platform. It has several use cases:

  1. Incentive Systems: OGN is used to power incentive systems within the Origin ecosystem, encouraging participation and engagement.

  2. Payments: OGN can be used as a means of payment for transactions within the platform.

  3. Staking and Governance: OGN holders can stake their tokens to participate in governance and earn rewards. This allows them to have a say in the future of the platform and make proposals.

  1. Revenue Distribution: Revenues generated by the Origin Story platform are distributed to OGN holders who stake their tokens, providing a passive income stream.

  2. NFT Marketplace: OGN is used in the Origin NFT Launchpad, which enables creators to mint and sell NFTs without requiring blockchain development knowledge.

  3. Yield Farming: OGN holders can participate in yield farming through Origin Dollar (OUSD), a stablecoin that generates interest through lending, minting growth tokens, and use at Automated Market Makers (AMMs).

These use cases make OGN a versatile token that supports various aspects of the Origin Protocol ecosystem.

How do I store Origin Protocol?

To store Origin Protocol (OGN) tokens, you can use various wallets that support ERC-20 tokens. Here are some options:

  1. MetaMask: You can add OGN to MetaMask by searching for "OGN" and clicking "Add" if it is not already listed. This will allow you to view and manage your OGN tokens within the wallet.

  2. Trust Wallet: Similarly, you can add OGN to Trust Wallet by tapping the green (+) button and searching for "OGN" to add support for OGN tokens.

  3. Coinbase Wallet: OGN is supported by Coinbase Wallet, which means you can view and manage your OGN tokens within the wallet.

  1. Hardware Wallets: For hardware wallets that do not have built-in support for OGN, you can connect them with MyEtherWallet, MyCrypto, or MetaMask to view your OGN token balance.

  2. Origin's Mobile App: The Origin Marketplace app supports OGN at the application level. You can view your OGN balance or wallet address by tapping on the wallet tab on the bottom of your screen.

  3. Other ERC-20 Compatible Wallets: Any wallet that supports ERC-20 tokens can be used to store OGN tokens, including imToken and others.

Remember to always use the official smart contract address for OGN (0x8207c1FfC5B6804F6024322CcF34F29c3541Ae26) to ensure the authenticity of your tokens.

How to buy Origin Protocol?

To buy Origin Protocol (OGN) tokens, you can follow these steps:

  1. Create an account:

    • On Binance, sign up via the website or app and verify your identification.
    • On Coinbase, download the app and start the sign-up process, which includes verifying your ID and proof of address.
    • On Kriptomat, sign up with Google, Apple, or enter your name and email, and then verify your email, phone number, and identity.
  2. Add a payment method:

    • On Binance, you can use a credit card, debit card, or bank deposit to add funds.
    • On Coinbase, connect a payment method such as a bank account, debit card, or initiate a wire transfer.
    • On Kriptomat, add funds via a bank deposit or credit card.
  3. Select Origin Protocol:

  • On Binance, navigate to the "Buy Crypto" section and select Origin Protocol (OGN).
  • On Coinbase, search for Origin Token in the search bar and select it from the results.
  • On Kriptomat, click on the icon and select "Buy" to choose Origin Protocol from the list of cryptocurrencies.
  1. Enter the amount and confirm:
    • On Binance, enter the amount you want to buy and confirm the transaction.
    • On Coinbase, enter the amount you want to spend in your local currency, preview the purchase, and confirm.
    • On Kriptomat, enter the amount, preview the transaction, and confirm your purchase.

After completing these steps, you will have successfully bought Origin Protocol (OGN) tokens.

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History of Origin Protocol

Origin Protocol (OGN) is a blockchain platform designed to build decentralized marketplaces and e-commerce applications. Founded in 2017 by Joshua Fraser and Matthew Liu, the project aimed to enable true peer-to-peer commerce by reducing transaction fees, promoting open and free commerce, and giving ecosystem participants stakes in the network.

Early Development and Funding

Origin Protocol raised $38.1 million through private and public token sales between November 2017 and July 2018. The token sales were conducted in two phases: the Strategic Sale from January 12, 2018, to April 9, 2018, and the CoinList Sale from June 18, 2018, to July 31, 2018. The sales were conducted in ETH, BTC, and USD, with the OGN token priced at $0.1200 and $0.1364 respectively.

Platform Development and Features

Origin Protocol is built on the Ethereum blockchain and uses smart contracts to manage payments, identity, and reputation. The platform allows users to buy and sell goods and services without intermediaries, facilitating peer-to-peer transactions securely and efficiently. It also enables developers to create custom decentralized marketplaces using Origin technology.

Key Milestones and Products
  • Meta-Transactions: Origin implemented meta-transactions to save users from paying Ethereum gas fees, simplifying the user experience.
  • NFT Launchpad: Origin created a marketplace for NFTs, giving more control to creators and simplifying the issuance process.
  • Origin Dollar (OUSD): A stablecoin that generates yield passively and eliminates complexities of staking and protocol management.
  • Origin Dollar Governance (OGV): A governance token for the OUSD ecosystem, promoting decentralization and community-driven decision-making.
Current Status and Future Vision

Origin Protocol continues to evolve, focusing on onboarding new users and driving financial access to the masses. The project aims to bridge the gap between Web3 utility and Web2 ease of use, with a commitment to disruptive innovation and decentralized peer-to-peer exchange.

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How Origin Protocol works

Origin Protocol (OGN) is a decentralized blockchain project that aims to bring the next 100 million users into the cryptocurrency space through blockchain-powered products and protocols. The project is built on the Ethereum blockchain and focuses on two primary products: Origin Dollar (OUSD) and Origin Story.

Origin Dollar (OUSD)

Origin Dollar is a yield-bearing stablecoin that allows users to earn interest passively by holding OUSD in their wallets. It is backed by other stablecoins like USDt, USDC, and Maker DAO’s DAI, providing a decentralized stablecoin implementation. OUSD is designed for Decentralized Finance (DeFi) platforms and users who seek yield while avoiding crypto volatility.

Origin Story

Origin Story is a platform that enables decentralized commerce through Non-Fungible Tokens (NFTs). It provides a full-featured platform for creators to launch and operate NFT businesses without requiring blockchain development knowledge. The platform includes features such as NFT mints, marketplaces, analytics, token-gated access, and more.

Origin Token (OGN)

The Origin Token (OGN) is the native token for the Origin Story platform. It is an ERC-20 token used for staking and participating in governance. OGN holders can earn platform revenues by staking their tokens. Additionally, OGN stakers can participate in the upside in a permissionless way via the DApp and staking contracts, earning ETH fees and OGN bonus rewards.

Staking and Governance

OGN holders can stake their tokens to earn passive income and participate in governance. The staking program allows users to earn ETH fees and OGN bonus rewards. Furthermore, OGN stakers can participate in the upside of the platform in a permissionless way.

Tokenomics

The total supply of OGN is 1 billion tokens. The initial circulating supply was 23.86 million OGN, which is 2.39% of the total supply. The token distribution includes advisor sales, strategic sales, CoinList sales, team tokens, advisor grants, foundation reserves, ecosystem growth funds, and long-term partnerships.

Team and Partnerships

Origin Protocol was founded by entrepreneurs Josh Fraser and Matthew Liu. The team includes experienced professionals from big tech companies like YouTube, Instagram, Coinbase, Tesla, Lyft, 1inch, and Dropbox. The project has received backing from notable investors and advisors, including Steve Chen, Gary Tan, and Alexis Ohanian.

Products and Features

Origin Protocol offers several products and features, including:

  • Origin Ether (OETH): Allows users to stake ETH and receive equivalent Origin Ether, which can be used cross-chain across DeFi to compound returns while earning staking yield.
  • Origin Dollar (OUSD): A yield-bearing stablecoin that allows users to earn interest passively by holding OUSD in their wallets.
  • Origin ARM: An Automated Redemption Manager that unlocks LST liquidity and rapid redemptions.
  • NFT Launchpad: A platform for creators to launch custom NFTs with direct control over content and pricing models.
  • Origin NFT Marketplace: A secondary market for NFTs, supporting NFTs from other Ethereum-based platforms.

Overall, Origin Protocol aims to make DeFi accessible to a broader audience by providing a suite of products and protocols that streamline the creation of decentralized and peer-to-peer marketplaces for digital assets.

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Origin Protocol's strengths

The Origin Protocol (OGN) token has several strengths:

  1. Governance and Value Accrual: OGN serves as both the governance and value accrual token for the Origin Story platform, allowing holders to participate in governance and earn rewards through staking.

  2. Staking Program: The OGN staking program offers competitive yields, with options for 30-day, 90-day, and 365-day staking periods, earning up to 25% annualized interest. This incentivizes long-term holding and supports token economics.

  3. Security: The staking contract has been rigorously audited by both the Origin engineering team and Solidified, ensuring the security of user deposits and earnings.

  1. Tokenomics: Origin Protocol has managed its circulating supply effectively, with a total supply of 1 billion OGN tokens. The initial circulating supply was only 2.39% of the total, and the team has been conscious of managing token supply to benefit long-term holders.

  2. Use Cases: OGN can be used for staking, governance, and advertising on the Origin platform, providing a range of utility for token holders.

  3. Support and Accessibility: OGN is supported by various wallets, including Metamask, Trust Wallet, and Coinbase Wallet, making it easily accessible to users.

  1. Integration with Other Tokens: The Origin ecosystem includes other tokens like OUSD (a yield-bearing stablecoin) and OGV (the governance token for Origin Dollar), which work together to provide a comprehensive DeFi experience.

These strengths contribute to the overall value and functionality of the Origin Protocol (OGN) token.

Origin Protocol's risks

Origin Protocol (OGN) is associated with several financial risks that investors should be aware of. These risks include:

  • Risk of Losing Money Rapidly: Trading in cryptocurrencies like OGN involves the risk of losing money rapidly due to leverage. This means that investors can potentially lose a significant portion of their investment if the market moves against them.
  • Market Volatility: Origin Protocol's price can fluctuate significantly due to market movements, which can result in losses for investors. The cryptocurrency's volatility is measured by its standard deviation and beta, which indicate how much its price can deviate from the historical average.
  • Unsystematic Risk: This type of risk is specific to the Origin Protocol project and cannot be diversified away. Events specific to the project, such as changes in its governance or technical issues, can negatively impact the coin's price.
  • Systematic Risk: This type of risk is associated with the overall cryptocurrency market and cannot be eliminated through diversification. Market-wide movements can affect the price of OGN, and investors should be prepared for potential losses.
  • Risk of Manipulation: The price of OGN can be influenced by limited trading activity, which can make it susceptible to manipulation. This risk is mitigated by trading on reputable exchanges with high liquidity.

It is essential for investors to carefully consider these risks before investing in Origin Protocol (OGN) or any other cryptocurrency.

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Did Origin Protocol raise funds?

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Origin Protocol’s team

  • Cofounders: Josh Fraser and Matthew Liu
  • Founding Engineer: Yu Pan
  • VP of Engineering: Franck Chastagnol
  • Director of Product: Micah Johnson
  • Senior Engineers: Nick Poulden, Domen, Shahul, Mike, Daniel, Ed, Chris, and Tom
  • Product Designer: Aure
  • Project Manager: Chase
  • Account Manager: Eric
  • Creator in Residence: Jon
  • Executive Assistant: Kara
  • Head of Community: Aaron
  • Investments/Treasury: Kelly
  • VP of Product: Linus
  • Head of BD, OUSD: Andra
  • Head of Finance: Justin

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