Origin Protocol (OGN) news

What is Origin Protocol (OGN)?

Origin Protocol is a company that develops web3 technologies with the goal of making non-fungible tokens (NFTs) and decentralized finance (DeFi) more accessible to the general public. The company's partnerships and innovative tools are instrumental in achieving this objective. Origin Protocol's two flagship products are Origin Story (governed by OGN) and Origin Dollar (governed by OGV).

Origin Story is a white-label NFT marketplace solution that works with disruptors in various industries by utilizing non-fungible tokens. The platform hosts NFT marketplaces and tools in a variety of fields, including real estate, profile pictures, music, art, and entertainment.

Roofstock onChain, Pudgy Penguins, Sappy Seals, Paris Hilton, 3LAU, BT, Inspiration4, and The Doge Pound are just a few of Origin Story's partners. Instead of focusing on a specific area, Origin Story Marketplaces aim to cast a wide net across several industries impacted by NFTs. Investors may see OGN as a "picks and shovels" approach to investing in NFTs.

Who are the Founders of Origin Protocol (OGN)?

Josh Fraser and Matthew Liu launched Origin Protocol, with Mr. Fraser having a background in coding since childhood and being involved in the crypto industry since 2011. Mr. Liu, on the other hand, is a Stanford engineering alumnus and has been involved in crypto since 2014, participating in the Ethereum crowd-sale in the same year. The protocol's founding engineer is Yu Pan, a former co-founder of Paypal and ex-Google executive.

Origin Protocol's lead investor is Pantera Capital, and other investors include Foundation Capital, Blocktower, Steve Chen (founder of YouTube), Alexis Ohanian (co-founder of Reddit), and Garry Tan (partner at Y Combinator). The company aims to make NFTs and DeFi more accessible to the general public through innovative tools and partnerships. Origin Story and Origin Dollar are the company's flagship products, with Origin Story being a white-label NFT marketplace solution that works with disruptors in various industries.

What makes Origin Protocol (OGN) Unique?

Origin Protocol is dedicated to unlocking the value of crypto opportunities across various verticals. The company's white label marketplaces, Origin Story, offer creators and collectors more control over their digital products, with integrated data analytics, streamlined buying experiences, and custom aesthetics according to the client's brand. Additionally, Origin Story's NFT tooling provides unique ways for brands to utilize non-fungible tokens, including token-gated access, soulbound tokens, NFT auctions, and support for various file formats. To expand its user base, Story marketplaces support Polygon, and Origin is actively exploring other scaling solutions.

Origin Protocol's stablecoin, Origin Dollar (OUSD), is another critical aspect of the company. This stablecoin is fully collateralized and automatically accrues yield to user wallets without requiring staking or lock-up periods. It earns yield through blue-chip DeFi protocols such as Convex, Curve, Compound, and Aave, with higher APYs due to its unique rebasing mechanism. Only user wallets accrue yield, while funds held in smart contracts act as a multiplier on users' yield.

In the summer of 2022, OGV, the governance token for Origin Dollar, was airdropped to OGN holders. OGV is used to vote on collateral allocations across DeFi pools and accrues value through the stablecoin protocol's revenue.

How is the Origin Protocol Network Secured?

OGN is an ERC-20 token based on Ethereum. The Origin Protocol is committed to achieving greater decentralization and is presently in the second phase of a four-stage plan. It is important to note that only the protocol is being decentralized, and not applications like P2P payments or debit cards developed with OUSD, which remain centralized.

What is the OGN Token?

OGN serves as the governance and value accrual token for the Origin Platform. Those who hold OGN can participate in decision-making by voting on proposals such as adding or removing yield-earning strategies, allocating capital across different strategies, determining protocol fees, and deciding on ongoing incentives.

Conclusion

To summarize, the Origin Protocol cryptocurrency is poised to revolutionize the e-commerce industry by providing a transparent and decentralized platform. The OGN token supports secure peer-to-peer transactions, safeguards user privacy, and empowers community governance. Origin Protocol embodies the latest advances in decentralized finance, reflecting the ongoing evolution of digital technology.