What is Origin Protocol? Origin Protocol was born with the purpose of bringing NFT and DeFi to the masses. Origin Protocol provides a platform to build peer-to-peer marketplaces and e-commerce applications. Currently, Origin Protocol is building and further developing the decentralized Liquid Staking segment. So what makes Origin Protocol stand out? Let’s find out with Weakhand.
To understand more about Origin Protocol, please refer to the articles below:
- What is Lido Finance (LDO)? Overview of Electronic Conveniences Lido Finance
- Operating Model of Lido Finance (LDO)
- What Are Liquid Staking Derivatives (LSD)? Top 5 LSD Projects with Great Growth Potential
Origin Protocol Overview
What is Origin Protocol?
Origin Protocol is a platform built on Ethereum, focusing on NFT and DeFi development with the aim of removing the financial border between the real world and the blockchain world.
Origin Protocol uses the Ethereum blockchain and IPFS file system, a decentralized platform and community, allowing the creation and booking of services and goods without the need for intermediaries. Allows buyers and sellers of goods and services to transact on the open, decentralized web.
Origin Protocol has key products, including:
- Origin Story: This platform hosts NFT marketplaces and tools across various industries, including real estate, profile photos, music, art, and entertainment… Origin Story is supported by major partners in the NFT space: Roofstock onChain, Pudgy Penguins, Sappy Seals, Paris Hilton, 3LAU, BT, Inspiration4 and The Doge Pound.
- OTokens by Origin DeFi: Origin Dollar (OUSD) and Origin Ether (OETH). OTokens are designed to deliver superior DeFi returns. OUSD is a stablecoin pegged 1:1 to USD, while OETH is pegged 1:1 to ETH.
Highlights of Origin Protocol
Origin Story
- Origin Story: NFT tool provides ways for brands to use non-fungible tokens in unique ways. The protocol supports token-controlled access, various file formats, NFT auctions, etc. for creators to make the most of their non-fungible tokens.
- Origin Story marketplaces: Give creators and collectors more control over their content and digital products. Currently, Story marketplaces is supporting the Polygon network and is expanding to other blockchains.
OTokens by Origin DeFi: Represent Origin Dollar (OUSD) and Origin Ether (OETH), cBoth assets are decentralized and can always be exchanged for collateral. OTken is fully collateralized, requires no staking or lock-in period, and automatically accrues profits to the user’s wallet. Yield is earned through blue-chip DeFi protocols like Curve, Convex, Compound, and Aave, but it earns higher APY thanks to a unique rebasing mechanism. Origin Protocol strikes a balance between security and profitability by performing testing and analysis on each strategy to determine the appropriate allocation. With automatic pooling and rebalancing, maximize rewards for owners and save them on gas fees at the same time.
- Origin Dollar: OUSD is a stablecoin pegged 1:1 to USD. When users stake USD they will receive OUSD. OUSD gives users access to some of the best risk-adjusted opportunities in DeFi.
- Origin Ether: OETH uses ETH and liquidity staking tokens (LST) as backing collateral. 1 OETH is always worth 1 ETH. OETH uses the AMO strategy on Curve and Convex through the OETH-ETH pool. By integrating Lido, Rocket Pool, Frax, and DeFi strategies, OETH can automatically rebalance its allocation to earn the highest returns at any time. Users can deposit ETH or other supported LSTs to receive OETH or simply exchange for OETH directly via Uniswap or Curve.
Origin Protocol’s operating mechanism
With Origin Dollar (OUSD): OUSD offers an ideal platform for holders to put their idle funds to work with an APY of around 4%. Users can mint OUSD by depositing USDT, USDC or DAI through the native Dapp. Origin Dollar earns profits by allocating underlying collateral to leading lending protocols Compound (COMP) and Aave (AAVE). Additionally, the protocol earns transaction fees through Curve and Convex. OUSD provides liquidity to the OUSD-3CRV Curve pool. This pool combines OUSD with USDT, USDC and DAI, allowing users to swap between OUSD and underlying reserves. By providing liquidity in the form of all four tokens, Origin can earn rewards in the form of CRV. Staking Curve LP positions via Convex allows OUSD to earn CVX token rewards in addition to CRV.
With Origin Ether (OETH): By integrating Lido, Rocket Pool, Frax and DeFi strategies, OETH can automatically rebalance its allocation to earn the highest returns at any time (APY up to 7.5%). Users can send ETH or LSTs (stETH, rETH, frxETH…) to receive OETH or just exchange for OETH directly via Uniswap or Curve.
Origin Protocol’s Development Roadmap
- May 2017 Building ideas.
- September 2017 Whitepaper released.
- December 2017 Launched Alpha testnet on Ethereum.
- October 2018 Launched Beta mainnet on Ethereum.
- February 2019 Launched Marketplace Creator 1.0 and mobile application.
- July 2019 Launched shoporigin.com and new mobile applications, Enabled Meta Transaction.
- April 2019 Launch of Origin Reward Enable stablecoin payments.
- September 2019 Launched OGN Commission.
- Quarter 4/2019 Raise capital for OGN token investors, launch Dshop application.
- Quarter 1/2020 Launched on Mainnet 1, Listed on Binance, Launched OGN as a payment token, added to Samsung Wallet.
- Quarter 2/2020 Listed on exchanges, Supporting partners to launch Dshop.
- Q3 2020 Partnering with Brave, Google Cloud and others.
- Quarter 4/2020 Launching OUSD stable coin, launching OGN token staking model.
- 2021 Continue to grow the Origin platform and community.
- May 2023 launch Origin Ether (OETH), implementing OETH AMO.
Core Team
Origin Protocol’s development team are entrepreneurs from technology companies such as Coinbase, YouTube, Google, Paypal, Dropbox and Pinterest.
Typical core members include:
Josh Fraser – Co-Founder
- Josh Fraser graduated with a degree in Computer Science from Clemson University. Josh started coding at the age of 10.
- Before Origin, Josh Fraser co-founded three other venture-backed companies: EventVue, Torbit (acquired by Walmart Labs) & Forage. From June 2017 until now, Josh is an Investor, advisor at Unfair Advantage, advisor to Solana (SOL), Biconomy (BICO), Naos Finance (NAOS), XMTP, …
- From June 2017 to present, Josh Fraser is Co-Founder at Origin Protocol.
Matthew Liu – Co-Founder
- Matthew Liu graduated in Electrical Engineering and Management Science & Engineering from Stanford University.
- Matt was the 3rd PM at YouTube (acquired by Google) and VP PM at Qwiki (acquired by Yahoo) and Bonobos (acquired by Walmart). Matt was Vice President, Product Management at Bonobos; Matt as an Investor and Advisor at Unfair Advantage.
- Matt has worked at Origin Protocol as a Co-Founder since 2017 until now.
- Micah is the technical co-founder of WellAttends, a bootstrapped box office management platform. He worked as a commercial real estate broker while learning to code.
- Ryan comes from the crypto journalism industry with a passion for educating the masses about blockchain technology. He scaled Benzinga’s crypto vertical from tens of thousands to millions of readers and is a recent graduate of the University of Michigan.
Investor
- Origin Protocol raised $37.5M from investment funds and Public sales Coinlist, including:
- The Strategic Round raised $28.5M from investment funds: BlockTown Capital, Continue Capital, Hashed, Kenetic Capital, FBG Capital, 1KX, ..
- The Seed Round raise raised $3M from Pantera Capital investment fund.
- Public sales Coinlist raised $6M.
Partner
Partners with Origin Protocol include: 3LAU, Inspiration4 Mission, BT, Trevor Jones.
Tokenomics
Information about OGN Token
- Token Name: OriginToken
- Symbol: OGN
- Blockchain: Ethereum
- Contract: 0x8207c1ffc5b6804f6024322ccf34f29c3541ae26
- Total supply: 1,000,000,000
OGN Token Allocation
- Seed Round: 4.4%
- Strategic Round: 23.8%
- Public Round: 4.8%
- Team: 20.2%
- Advisors: 1.96%
- Partnerships: 0.73%
- Foundation: 31.4%
- Ecosystem: 13%
OGN Token Release
- Seed Round: 6% TGE, lock 4 months, vesting 11.8% quarterly.
- Strategic Round: 6% TGE, lock 4 months, vesting 11.8% quarterly.
- Public Round: 6% TGE, lock 4 months, vesting 11.8% quarterly.
- Team: 3 month lock, vesting 2.08%/month.
- Advisors: 3 month lock, vesting 8.33%/month.
- Partnerships: 5.5% TGE, lock 3 months, vesting 3.94%/month.
- Foundation: 1% TGE, vesting 2% quarterly.
- Ecosystem: 0.5% TGE, vesting 0.5%/month.
OGN Token Use Case
OGN Token is the value accumulation and governance token for the entire Origin Platform. Token holders can vote on the following proposals:
- Add/remove new profit strategy types.
- Capital allocation across strategies.
- Determine the fee charged by the protocol.
- Identify incentives offered.
Receive fees when expanding OUSD supply.
OGN Token Exchange
OGN Token is currently traded on major exchanges, such as: Binance, Coinbase, Kucoin, Kraken, Gate, Houbi, UniSwap, Bitget, MEXC, …
Project Information Channel
- Website: https://www.originprotocol.com/
- Twitter: https://twitter.com/originprotocol
- Discord: https://www.originprotocol.com/discord
- Telegram: https://t.me/originprotocol
- Medium:
Summary
Origin Protocol platform is designed to streamline the creation of decentralized and peer-to-peer marketplaces for digital assets. Specifically, the platform is geared towards NFTs (non-fungible tokens) with the overall goal of making DeFi accessible to the masses.
Hopefully this article provides useful information about Origin Protocol and OGN token.