What is Origin Protocol?

Origin Protocol is an open source platform that allows users to create decentralized marketplaces and e-commerce applications on the Ethereum blockchain.

Origin’s mission is to bring non-fungible tokens (NFTs) and decentralized finance (DeFi) to the masses.

Origin Product

Since its inception in 2017, the Origin protocol (OGN) has focused on developing e-commerce on the Ethereum blockchain. Origin protocol already supports selling physical goods and services offline.

While the Origin protocol plans to address commerce across various verticals, today the project is specifically focused on cryptocurrency-specific commercial opportunities targeting early adopters of the technology.

In 2021, the Origin protocol enjoyed tremendous success in the non-fungible token (NFT) market.

Origin has set the record for the largest music NFT sales on its platform, Origin has reached mainstream media outlets such as the New York Times and Forbes, CNBC, CNN, BBC, Time, NPR, ABC, NY Times and dozens of other outlets.

Origin’s flagship products (Origin story, Origin Dollar, Origin Token) are tackling the fastest growing verticals in Web3. We will go through the product details:

Origin Story

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Origin Story is where top creators sell their NFTs. Now you can too! Personalized storefronts. Flexible sale formats. Secondary royalties. No code required.

While many other platforms require the use of cryptocurrency, Origin can provide the ability to purchase NFTs with credit and debit cards.

Origin intends to form additional partnerships with key influencers, artists and other iconic brands to advance their NFT commercial initiatives.

Creators will be able to create Origin accounts, upload audio and visual content for the NFT and their custom websites, and schedule NFT sales using a variety of sales formats.

Origin will aggregate all of its NFT sales on one website, making it easy for buyers to discover new creators.

Origin Dollar (OUSD)

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Origin Dollar (OUSD) is the first stablecoin that earns a yield while it’s still in your wallet. Access DeFi yields without any of the hassles. No staking. No lockups.

The Origin Dollar is the first cryptocurrency stablecoin that automatically and passively provides users with the opportunity to earn yield while sitting in cryptocurrency wallets. Users do not need to stake/unstake or provide liquidity to earn yields across underlying DeFi protocols.

OUSD uses two high-level strategies for generating yield–lending and AMMs:

Lending:

OUSD integrates with DeFi lending platforms that provide over-collateralized loans. Over-collateralization, combined with smart rules around liquidations, provide a reasonable level of security for lenders.

OUSD integrates with two leading lending providers, Compound and Aave, that have a proven track record of auditing smart contracts, and have successfully lent hundreds of millions of dollars without issue.

Automated market makers (AMMs) :

The OUSD protocol routes USDT, USDC, and DAI to highly-performing liquidity pools as determined by trading volume and rewards tokens. Yields are then passed on to OUSD holders. The OUSD smart contract is currently integrated with Curve, and may be integrated with Uniswap, Sushiswap, and Balancer in the future.

OUSD is able to generate higher yields than competing protocols due to a combination of important design decisions that amplify the rewards that are returned to OUSD holders:

+ Exit fees are returned to the pool, rewarding long term holders

+ Price oracles favor the collective over the individual, again rewarding long term holders

+ Smart contracts must manually opt-in to earn yield. This allows the protocol to put more capital to work than would be otherwise possible.

+ OUSD smart contracts allow users to balance risk and reward more effectively than deploying capital in any single underlying strategy.

In the short-term, OUSD’s target audience encompasses the millions of cryptocurrency users in the world that are not yet invested in DeFi. An even larger opportunity lies in targeting the hundreds of millions of users that are currently using traditional peer-to-peer and merchant payment systems.

Besides, Origin also plans to develop in the future:

– OUSD Payment App

– OUSD payments on traditional platforms

– Cross-chain OUSD

Origin Token (OGN)

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The Origin Token (OGN) is the governance and value accrual token for the entire Origin Platform and suite of products.

OGN token holders will be able to create and vote on proposals to govern the underlying protocol. This may include:

+ Adding/removing new types of yield-earning strategies

+ Allocating capital across a basket of strategies

+ Determining what fees are charged by the protocol

+ Determining what incentives (e.g. OGN rewards for liquidity mining) are offered on an ongoing basis

OGN holders will benefit directly from any protocol revenues and fees generated from products built on the Origin Platform. This includes on-chain revenue from OUSD as well as potential off-chain revenue sources from OUSD or commerce products in the future.

Unlike most projects when they don’t pay attention to circulating supply, Origin team always tries to reduce the total circulating supply of OGN through buying OGN redemption program from NFT revenue, or deducting 10% interest from OUSD to acquire OGN.

As OUSD circulating supply increases, service fees generated will also increase, directly benefiting OGN holders financially. The converse is also true. OUSD holders are incentivized to be OGN holders, so they can participate actively in the governance of the protocol. This creates a strong flywheel effect between Origin’s two tokens.

Recap of outstanding features

Origin aims to create a conducive environment for online market participants by providing:

Lower transaction fees
Customer rewards
Easy payments
Governance
Better Accessibility

Tokennomic (OGN)

In addition to the concept and function of OGN as mentioned above, we also have the following information:

Key Metrics OGN

Name: Origin Token
Symbol: OGN
Blockchain: Ethereum
Contract: 0x8207c1ffc5b6804f6024322ccf34f29c3541ae26
Type: Utility, Governance
Standard: ERC-20
Total Supply: 1,000,000,000 OGN
Circulating Supply: 388,570,732.54 OGN

OGN Token Allocation:

Advisor: 4.38%
Strategic Sale: 23.75%
CoinList Sale: 4.84%
Team: 20.24%
Advisor Grants: 1.69%
Foundation Reserves: 31.37%
Ecosystem Growth Funds: 12.99%
Long-term Partnerships: 0.73%

OGN Token Release Schedule:

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Team:

Origin was founded by Josh Fraser and Matthew Liu, two successful entrepreneurs who have built multiple venture backed companies that saw successful exits and who have worked together on multiple businesses in the past. They were joined by founding engineer Yu Pan. Yu Pan was one of the co-founders of PayPal alongside Elon Musk, Peter Thiel, Max Levchin, Ken Howery, and Luke Nosek. Yu Pan was also the first employee at YouTube and held senior positions at Google and Affirm.

Investor:

Origin’s lead investor is Pantera Capital, the world’s oldest cryptocurrency fund. Other notable investors include Foundation Capital, Blocktower, Blockchain.com, KBW Ventures, Spartan Capital, PreAngel Fund, Hashed, Kenetic Capital, FBG, QCP Capital, and Smart Contract Japan. Well known angel investors include Steve Chen, founder of YouTube, Alexis Ohanian, founder of Reddit, Garry Tan, partner at Y Combinator, and Randall Kaplan, founder of Akamai.