What is Origin Protocol (OGN)? – Bitfinex Blog
What is Origin Protocol (OGN)? February 10, 2023 in Education, Token
Founded in 2017, Original Protocol is a decentralized blockchain project that aims to bring the next 100M users to crypto through blockchain-powered products and protocols. Its two primary products are Origin Dollar (OUSD), a yield-bearing stablecoin, and Origin Story, an NFT platform. The Origin Token (OGN) is the governance and value creation token for the Origin Story Platform. Last summer, Origin airdropped OGV tokens to OGN holders, which act as the governance token for Origin Dollar.
Origin Story aims to enable decentralized commerce through NFTs. Origin Story’s full-featured platform – including NFT mint, marketplace, analytics, token-gated access, and more – enables NFT businesses to launch and operate without the need for blockchain development knowledge.
Origin’s OUSD stablecoin is a unique decentralized stablecoin implementation backed by USDt, USDC, and other stable coins such as Maker DAO’s DAI, which allows OUSD holders to passively receive interest from holding OUSD in their wallets. Is. OUSD is tailored for decentralized finance (DeFi) platforms and users who want to yield and escape the notorious volatility of crypto by holding value in a stablecoin.
The Origin Protocol Ecosystem
The Original Protocol ecosystem consists of a variety of products and tools created to onboard users to Web3. As mentioned earlier, Origin’s flagship products are Origin Story and Origin Dollar.
Origin Story’s full-featured platform enables creators and brands to launch and operate NFT collections, communities, and ecosystems. Story capabilities include:
Drops: Launchpad for NFT mints that pioneer safe and secure NFTs Launched at scale Marketplace: White label NFT marketplace and aggregator Analytics: Detailed analysis and aggregation of NFT holder communities Token-gated access and claims: NFT perks Token-gate redemption Fiat on-ramp: buy NFTs with credit card or other fiat payment methods Multi-token support: transact in ETH, USDC, and any ERC-20 token Multi-chain support: Ethereum, Polygon, additional chains and more Has been Meet KYC/Identity Verification Requirements Basic Dollar (OUSD) Stablecoin
OUSD is the flagship stablecoin of the original protocol, supported by other stablecoins such as USDt, USDC and DAI. Origin’s OUSD token provides passively earned income to token holders for holding the token in any Ethereum wallet. There is no need to stake or lockup tokens to profit.
The stablecoin is governed by Origin Dollar Governance (OGV) which is used to decide future protocol upgrades and weekly collateral allocation. Basic dollar collateral is routed to Aave, Compound, Curve, Convex and Morpho to earn sustainable, risk-averse yields for holders.
Why is the Origin Protocol unique?
Origin Protocol has an experienced core team, vibrant community and a strong track record of partnerships in the NFT ecosystem.
Origin’s core team has experience in building and scaling technology products. The core team includes early-stage tech and business leaders from iconic companies such as PayPal, YouTube, Coinbase, Pinterest, Lyft, Dropbox, Google, Palo Alto Networks, Tesla, and 1inch.
The Origin community today has hundreds of thousands of OGN holders, and investors including Pantera Capital, Foundation Capital, BlockTower, Blockchain.com, KBW Ventures, Spartan Capital, and Steve Chen (co-founder of YouTube), Alexis Ohanian (as angel investor) Are. co-founder of Reddit), Gary Tan (chairman and CEO of YCombinator), and Randall Kaplan (founder of Akamai).
Originating in NFTs also has a track record. Story powered NFT drops and marketplaces from creators, crypto-native collectibles and tech industry leaders. Story partners include:
Celebrities and Creators: 3LAU, BT, Paris Hilton, Trevor Jones, Don Diablo, Timmy Trumpet, Lupe FiascoWeb3 NFT Collections: Puddy Penguins, Chubbyverse, Moonrunner, OnchenMonkey, Sappy Seals, Lucky Ducky, Other industry-leading companies: Roofstock (real estate ) platform), SpaceX (first all-civilian mission in orbit)
Origin Story features powerful experiences that have established historic milestones, including: NFT auctions from 3LAU ($11.7M USD), a major whiskey cask sale ($2.3M), viral video NFT sales ($760K), and real Sold as Homes of the World NFTs on the peer-to-peer marketplace in partnership with Roofstock.
What is Origin (OGN) Token?
The Origin Token (OGN) is the native token value creation and governance token for the Origin Story Platform. It is an ERC-20 token that can be used to participate in staking and governance. The revenue of the Origin Story platform is given to OGN holders who stake their tokens. Stakeholders of OGN can participate in the upside in a permissionless manner through dApps and staking contracts. Currently, ETH fees and OGN bonus rewards can be earned in the staking program.
In addition to OGN, Origin Protocol has two additional tokens, OUSD, a decentralized yield-bearing stablecoin, and OGV, Origin Dollar Governance Token. OGV allows users to earn rewards for staking, earn transaction fees from OUSD, and participate in governance for a month or more by earning veOGV. Additionally, Origin Protocol plans periodic buybacks of OGV tokens to limit supply and increase demand.
Genesis Protocol Team
Genesis was founded by entrepreneurs Josh Fraser and Matthew Liu. Josh entered the crypto space in 2011, while Matthew joined soon after and participated in the Ethereum crowdsale. Former PayPal co-founder Yu Pan is the technical founder of the original dollar (OUSD). Origin’s team comes from large tech companies including early employees of YouTube, Instagram, Coinbase, Tesla, Lyft, 1inch and Dropbox. More detailed information about the Origin Protocol team can be found here.
How to Buy Origin (OGN) on Bitfinex
How to buy OGN with crypto
1. Log in to your Bitfinex account or sign up to create an account.
2. Go to the Deposit page.
3. In the Cryptocurrency section, choose the crypto with which you plan to buy OGN and generate a deposit address on the exchange wallet.
4. Send crypto to the generated deposit address.
5. Once the funds are in your wallet, you can trade them for OGN. Learn how to trade on Bitfinex here.
How to buy OGN with fiat
1. Log in to your Bitfinex account or sign up to create an account.
2. You need to get full verification to be able to deposit fiat into your Bitfinex account. Learn about the different levels of verification here.
3. On the Deposit page, under the Bank wire menu, select the fiat currency of your deposit. There is a minimum amount for fiat deposits on Bitfinex; Learn more here.
4. Check your Bitfinex registered email for wire details.
5. Send money.
6. Once you have funds in your wallet, you can use them to buy OGN.
Genesis Protocol Community Channel
Website | Twitter | discord | youtube | Telegram | Reddit | github | Medium | LinkedIn