What is Origin Protocol (OGN)?
Despite Origin Protocol
being founded back in 2017, few people know what Origin Protocol is. Origin Protocol was founded to support the development of the sharing economy and bring it to the blockchain. Users will only need one account to use all the decentralized applications (dApps) running on the blockchain that are part of the sharing economy.
The sharing economy is the sharing of certain goods and services. Think for example of renting out your house (with AirBnB), selling your second hand stuff (via Ebay) and ordering food (Uber Eats). For all these applications you need a separate account.
Origin Protocol runs on the Ethereum blockchain and makes it easier for users to use such applications. The blockchain, of course, serves as the foundation, on which various applications are built. These dApps can be developed by anyone because the blockchain is open-source. As a result, each application may have a completely different way of being put into use.
Origin Protocol runs on top of these applications. This allows users with an Origin account to use all dApps running on the blockchain.
What can you do with Origin Protocol?
Since 2017, Origin Protocol has developed several products to contribute to a better user experience on the blockchain. So you can do several things with the Origin Protocol.
Origin Protocol token (OGN)
is the token of Origin Protocol and can be used in several situations. For example, token owners can use their tokens as voting rights. Everyone can have a say in the future of the Origin Protocol and make proposals. OGN is also used as a means of payment to carry out transactions.
The Origin Protocol (OGN) tokenomics look like this:
- Maximum inventory of 1 billion tokens;
- 20.24% is allocated to the team behind Origin Protocol;
- 1 billion tokens in circulation;
- 388.6 million tokens (39%) tradable by April 2022;
- An all-time-high (ATH) of $3.11.
Origin USD (OUSD) stablecoin
Origin Protocol has its own stablecoin called OUSD. This stablecoin has its value pegged to the U.S. dollar and thus always remains stable. The main purpose of such a currency is to be used as a means of payment. The value always remains the same, so both sender and receiver can always assume the same value.
OUSD can be used for three different forms of yield farming (receiving interest on your crypto tokens):
- Lending (lending crypto to receive interest);
- Minting growth tokens (creating tokens on the blockchain);
- Use at Automated Market Makers (AMM) (software used at decentralized exchanges, or a DEX, among others).
Origin NFT Launchpad
Origin Protocol has its own platform for minting launches of NFT
collections. On this platform, users can offer their NFT art to potential buyers. They have the option to buy the art directly on the platform. This can be done not only with crypto, but also with fiat currency, which makes the platform unique. This makes it possible to buy NFT-art with a credit card, for example. Makers of NFT have even more opportunities to design the sales process on the platform according to their own wishes.
Several successful NFT collections have been launched on the Origin NFT Launchpad in the past, including Useum Collectibles and Inspiration4 Collectibles.
Who are the founders of Origin Protocol?
In 2017, it was Josh Fraser and Matthew Liu who founded Origin Protocol. They had years of experience developing software. Josh Fraser at EventVue and Torbit, and Matthew Lui at YouTube. They did not do the development of the Origin Protocol alone. For example, they had help from Yu Pan, who is the founding engineer of the project and has worked with Liu at YouTube in the past.
What partnerships does Origin Protocol have?
Origin Protocol has a number of notable partnerships. The companies and organizations below are some of the names that partner with Origin Protocol in various ways:
- Google Cloud;
- AWS Marketplace (Amazon).
Rumors have also circulated in the past about a possible partnership between Origin Protocol and YouTube, but nothing official has come out about this yet.
Where can you buy the OGN token from Origin Protocol?
If you want to invest in Origin Protocol, you can buy the OGN token
on a crypto exchange or broker. Coinmerce is a suitable platform to buy Origin Protocol because we offer attractive terms. For example, you can buy OGN
tokens with iDEAL, SEPA, Giropay, MyBank and credit card. There is no deposit fee to use these payment methods.
Before you can purchase Origin Protocol tokens, you need an account. You can create one here. Once your account is verified, you can begin trading Origin Protocol immediately. You can buy Origin Protocol on this page, or search for Origin Protocol on the Coins page.
Storing Origin Protocol (OGN) safe
You store Origin Protocol's OGN tokens in Coinmerce's wallet. This is where they are moved directly to after purchase. We ensure that most of them are kept in cold storage, so your OGN tokens are always safe.
Of course, you can also place the OGN tokens on your own hardware wallet. To do so, you will need to verify the address of, for example, your Trezor or Ledger wallet within your Coinmerce account.
Can you stake or mine Origin Protocol?
It is not possible to mine Origin Protocol. This is because this protocol does not use Proof of Work, and runs on Ethereum's blockchain. In contrast, Origin Protocol staking is possible. Origin Protocol has launched a special staking contract where anyone can send OUSD crypto coins and then receive a reward for the coins they stake. Of course, this is not without risk, as there is always the possibility of losing money. Indeed, such a smart contract is fully automated.