Top Things You Should Know About Origin Protocol (OGN)
Hey guys, Iâm back with another comprehensive Q&A piece, this time for a blockchain platform that enables the building of decentralized marketplaces â Origin Protocol (OGN).
Origin Protocol is a blockchain platform that enables true peer-to-peer commerce through decentralized marketplaces without middlemen. The project features a suite of products that revolutionize how people shop and conduct business online.
Now, before we dive in, the following piece is similar to my latest articles on BarnBridge (BOND), Celsius (CEL), and Serum (SRM), so if you havenât already seen those, be sure to check them out as well.
Hope you enjoy!
The list of Q&A is kind of long so first comes the list of questions that I have prepared the answers to:
- What is Origin Protocol?
- Who and When Created Origin Protocol?
- What is $OGN Token?
- What is $OUSD Token?
- What is the Main Product of Origin Protocol?
- Where to Store $OGN & OUSD?
- Where to Buy & Sell $OGN & OUSD?
1. What is Origin Protocol?
Origin Protocol website homepage
The protocol enables developers to build decentralized marketplaces that operate without middlemen to reduce/remove unnecessary transaction fees and to promote open and censorship-resistant commerce.
Additionally, the Origin Protocol gives early ecosystem participants the opportunity to own a stake in the commerce network by contributing to its growth.
Origin Protocol Benefits
The Origin Protocol is building a sharing economy without intermediaries using the Ethereum blockchain, JSONSchema, and IPFS to enable true peer-to-peer commerce.
Some key features and benefits to this blockchain-powered commerce include:
Lower Fees
Centralized intermediaries often charge 20-30% in transaction fees to use their marketplace. Airbnb and Uber are perfect examples of this and the total sharing economy fees across marketplaces are expected to cross $40B by 2020.
With Origin-powered marketplaces, there are no middlemen to collect these fees. Instead, the buyers and sellers share 20-30% in savings when middlemen are removed.
Better Incentives
Centralized marketplaces like Airbnb and Uber donât reward their early participants with company stock. Origin Protocol enables every early participant to own a stake in the network by contributing to its growth.
Buyers and sellers can earn Origin Tokens (OGN) simply by using Origin-enabled applications to transact with one another. Also, developers, affiliates, and marketplace operators can earn OGN in a variety of ways as well.
Increased Access
There are an estimated 2 billion unbanked people in the world who donât have access to traditional bank accounts, credit cards, and other centralized financial services.
Origin Protocol enables the unbanked to participate in the new Internet economy with cryptocurrencies, giving them access to new markets globally.
More Resilience
Centralized marketplaces can be shut down or banned. For instance, Airbnb is heavily regulated or banned in cities like Paris, Berlin, Tokyo, New York, and more.
Origin-powered decentralized marketplaces canât be banned or shut down as they reside on top of the public Ethereum blockchain and have no single points of failure. That said, Originâs decentralized commerce is more resilient and promotes efficient markets.
2. Who and When Created Origin Protocol?
Origin Protocol founders, Josh Fraser and Matthew Liu
Origin Protocol was founded in June 2017 by Josh Fraser and Matthew Liu and is headquartered in San Francisco, California.
Josh Fraser is a brilliant programmer who started coding at the age of 10. He obtained his BS in Computer Science from Clemson University and prior to founding Origin Protocol, he co-founded four other venture-backed companies: EventVue, Torbit (acquired by Walmart Labs), Forage, and PriceSlash.
Matthew Liu is a highly educated and experienced tech entrepreneur who obtained his MS in Management Science & Engineering and BS in Electrical Engineering from Stanford University. Prior to founding Origin Protocol, Liu had already garnered extensive experience at leading tech companies:
Liu served as a Product Manager at YouTube before and after it was acquired by Google; he served as Vice President of Product Management at Qwiki (acquired by Yahoo) and at Bonobos (acquired by Walmart), and he co-founded Unicycle Labs and PriceSlash.
As you can see, Origin Protocol was founded by two highly talented and experienced individuals, sharing a bit of history together at PriceSlash. but they are also joined by a diversified team of team world-class members across China, Korea, Russia, India, New Zealand, Slovenia, and more.
In total, the Origin Protocol team is made up of 18 Core Members, 5 Community Team Members, 5 Advisors, and 180 Contributors.
Origin Protocol Investors
In addition to the solid team behind Origin Protocol, the project is also backed by a slew of notable investors and venture capital firms including:
Individual Investors
- Steve Chen - co-founder of YouTube and AVOS Systems and Engineering Manager at eBay
- Alexis Ohanian - co-founder of Reddit
- Garry Tan - founder and managing partner at Initialized Capital and co-founder of Posterous.com
- Gil Penchina - angel investor and a current partner at Ridge Ventures
- Steve Jang - founder and managing partner at Kindred Ventures
- Kamal Ravikant - founder and CEO of Reventics
- Randall Kaplan - co-founder of Akamai Technologies and CEO and founder of CollarCard, JUMP Investors, and Sandee
Venture Capital Firms
- Pantera Capital
- Spartan Group
- Foundation Capital
- Blocktower Capital
- 1kx
- Blockchain.com
- Eterna Capital
- PreAngel Fund
- FBG
- SNZ Holdings
- Continue Capital
- BlockAsset
- Danhua Capital
- Crypto Bazaar
- QCP Capital
- Sora Ventures
- Kenetic Capital
- Hashed
3. What is $OGN Token?
Origin Protocol (OGN) token logo
The native cryptocurrency of the Origin Protocol is $OGN and itâs the utility token of the Origin Protocol ecosystem of applications and marketplaces. $OGN serves as an incentive token that ensures the health and growth of the network.
Origin Protocol (OGN) Token Utility:
- Commissions - earn $OGN commissions on sales
- Payments - pay for goods and services with $OGN
- Rewards - earn $OGN rewards for contributing to the growth of the protocol
- Staking - in development
- Governance - OGN token holders will have governing powers
Commissions
Marketplace owners earn a commission when sellers pay with OGN to get featured prominently in search results. They earn Origin Tokens (OGN) by helping sellers complete their sales.
Payments
Use Origin Tokens (OGN) to pay for goods and services. Sellers that accept OGN as their preferred payment method earn larger stakes in the Origin Protocol network.
Rewards
Users can earn Origin Tokens (OGN) in a variety of ways:
- Earn OGN by verifying your profiles and referring friends and family to Origin
- Earn OGN by sharing news about Origin on social media
- Earn OGN by making purchases from featured sellers
Staking
The Origin team is currently researching and developing new staking models that will generate rewards for OGN token holders who participate in and support parts of the network.
Governance
In the future, OGN token holders will be able to participate in the governance of the protocol via voting on improvement proposals, upgrades, changes, etc.
Origin Protocol (OGN) Stats:
The total supply of Origin tokens is 1,000,000,000 OGN and the circulating supply is 130,353,925 OGN. The total number of locked Origin tokens is 41,093,338 OGN.
Origin Protocol (OGN) Token Distribution
- 4.38% - Advisors
- 23.75% - Strategic Token Sale
- 4.84% - CoinList Sale
- 20.24% - Team
- 1.69% - Advisor Grants
- 31.37% - Foundation Reserves
- 12.99% - Ecosystem Growth Funds
- 0.73% - Long-term Partnerships
Origin $OGN Token Release Schedule (Source)
4. What is $OUSD Token?
$OUSD website homepage
OUSD was launched in September 2020 and itâs unique because it automatically earns a yield for holders that keep it in their wallets. Currently, OUSD is earning an APY (annual percentage yield) of around 6-8%.
What sets OUSD apart from other interest-yielding DeFi assets, is that thereâs no need to stake or lock it. Users can simply hold it in any ERC-20 supported wallet and start earning yield. And whatâs more, rewards are instantly converted to OUSD and sent straight to your balance to be auto-compounded.
Origin Dollar (OUSD) Features
1:1 backed by other stablecoins
OUSD is backed by other proven stablecoins like USDT, USDC, and DAI. To mint OUSD, you deposit USDT, USDC, or DAI on a 1:1 basis. Additionally, the stablecoin capital backing OUSD is further insured by governance tokens issued by platforms like Aave and MakerDAO.
Automated yield farming
Automatically earn interest on your OUSD through automated yield farming strategies powered by OUSD smart contracts.
Compound Interest
Interest earned on your OUSD is automatically sent to your balance so that it too can start earning interest and compound your yield.
You always have full control
You can store and earn OUSD with non-custodial Ethereum wallets. Thereâs no staking, no lockups, and no minimum OUSD amount required to earn yields.
Elastic supply, stable price
OUSD is pegged to the US Dollar and rewards are distributed as additional units of OUSD, therefore supply rebasing happens continuously.
Spend your OUSD with ease
Spend your OUSD as you please. There is no need to complete complicated steps to gain access to your funds. Spend OUSD without having to unstake or unlock capital.
5. What is the Main Product of Origin Protocol?
Dshop website homepage
The main product of the Origin Protocol is Dshop â a decentralized and open-source e-commerce platform that allows anyone to create an online store easily.
Dshop enables anyone to harness the power of the Origin Protocol to create a customizable and open-source e-commerce platform built on the decentralized web. With Dshop, you can create an ecommerce website backed by powerful tools that help you find customers and drive sales.
Dshop has no transaction fees, itâs fully customizable, it supports crypto and credit card payments, and itâs free to run.
Dshop Features
Multiple Shops, 1 Account
Launch as many decentralized shops as you want and manage them under one account. There are no commitments, no long-term contracts, and they are free to run.
Multiple Payments
Dshop e-commerce stores support both crypto and credit card payments for customers. Let your customers pay how they want to pay and without charging them extra fees.
Secure, Distributed Data
Dshop keeps your data safe with IPFS, a resilient, censorship-resistant system of file storage.
Infinitely Extensible
Dshop can be easily integrated with third-party tools and services to speed up your workflow. Integrate with PayPal, Stripe, Uphold, AWS, and more.
Dshop Customers
Origin Protocol already has multiple businesses choosing to build and grow their decentralized online stores with Dshop including:
Additionally, the flagship app of the Origin Protocol is Origin Marketplace, an app that enables users to rent a home, buy concert tickets, hire a contractor, and so much more.
This app is just 1 example of the potential for hundreds of decentralized, peer-to-peer marketplaces powered by the Origin Protocol and Dshop product.
6. Where to Store $OGN & $OUSD?
Origin Marketplace app
Both the Origin Protocol (OGN) and Origin Dollar (OUSD) are ERC-20 tokens residing on top of the public Ethereum blockchain. That said, you can store $OGN and $OUSD in any ERC-20 token supported wallet.
However, the best wallets for storing these tokens are non-custodial Web3 wallets that provide seamless access to the best DeFi applications in the Ethereum ecosystem. Also, one place you might want to store Originâs tokens is on the official Origin Marketplace app, which allows you to buy and sell various products and services on the Origin Marketplace with cryptocurrencies.
Popular $OGN and $OUSD Wallets:
- Metamask (web)
- Trust Wallet (mobile)
- Argent (mobile)
- Coinbase Wallet (mobile)
- Fortmatic (web)
In addition to the above-listed wallets, $OGN and $OUSD can be stored on a wide variety of other reputable wallets supporting ERC-20 tokens.
7. Where to Buy & Sell $OGN & OUSD?
Origin Protocolâs native cryptocurrency $OGN and its stablecoin $OUSD can be bought and sold on a peer-to-peer (P2P) basis but the most popular way to buy, sell, or trade $OGN and $OUSD is through centralized and decentralized cryptocurrency exchanges.
Currently, Originâs stablecoin $OUSD is only supported via the decentralized Uniswap exchange where itâs primarily traded for $USDT.
As for Originâs native token $OGN, you can buy and sell it with cryptocurrency or fiat currency at the following top DEXes and exchanges. In most cases, you will be able to buy OGN with BTC, ETH, or stablecoins.
- Uniswap - WETH
- Binance - BTC, USDT, BNB
- Kyber Network - ETH
- Huobi Global - BTC, USDT, HT
- Loopring Exchange - USDT
In addition to the exchanges listed above, Origin Protocol (OGN) is also traded on a wide variety of other exchanges and platforms that enable people to buy, sell, or trade cryptocurrencies.
Hope you enjoyed that read , Let me know if I have missed something in the comments.
Ethereum DeFi Stablecoin Origin Dollar (OUSD) Origin Protocol OUSD
