What is Origin Protocol? Origin Protocol (OGN) is a blockchain project focused on NFT and DeFi, where users can share products and assets peer-to-peer (P2P). In this article, you can access answers to questions such as what is Origin Protocol, what it offers, what is OGN coin, how to get it, what is it used for. As Kriptokoin.com , we have prepared it for our curious readers. Let’s examine the project together.
What is Origin Protocol?
Origin Protocol is a Blockchain project where users can trade peer-to-peer (P2P) assets. The project aims to provide users with an experience where they do not pay commission fees by eliminating the intermediaries needed to perform transactions in traditional finance with the IPFS model. Built on the Ethereum Blockchain, the project has a native cryptocurrency called OGN coin and a stablecoin integrated into the dollar called OUSD. Origin aims to be the leading platform where users can promote and sell their products. For this, the project works as a decentralized Blockchain network built for DeFi and NFT transactions. The network is designed to offer high scalability and speed.
What does the Origin Protocol offer?
Origin Protocol has a product called Origin Story where users can sell their NFTs. Through this product, users can host and sell their NFTs on their own website instead of a marketplace. Allowing the sale of NFTs on the Ethereum and Polygon networks, Story uses auction mechanics to maximize revenue from NFTs. Users who want to buy NFT can use credit cards as a payment method as well as cryptocurrencies.
The project has a stable coin named OUSD. This stable coin, indexed to the dollar, offers users the opportunity to earn passive income. OUSD holders earn 8.66% annual interest by keeping their assets in their wallets. Users holding the stable coin can automate their transactions, saving time through automated smart contracts.
What is OGN coin?
OGN coin is a token that works as the native cryptocurrency of the Origin Protocol network. The token was created with the ERC-20 smart contract on the Ethereum Blockchain. The maximum supply of OGN is limited to 1 billion units. This means that the token is deflationary. Created to provide power and flexibility to Origin, OGN can be used for various purposes within the network.
With a market cap of around $230 million at the time of writing, OGN coin was the 195th largest cryptocurrency. In addition, 388.5 million OGNs were in circulation, accounting for 39% of the token’s maximum supply.
What is OGN coin used for?
OGN coin is the governance token of Origin Protocol. OGN holders can participate in the management of the platform using their assets and vote on the decisions taken. Besides, OGN is distributed to incentivize users. Users who promote and market products created by NFT vendors are rewarded with OGN. The token can also be used for purposes such as purchasing products within the platform or paying transaction fees. OGN with staking feature allows users to earn passive income. OGN holders can lock their assets in the platform’s smart contracts for a certain maturity and earn additional token rewards at maturity.
How to get OGN coin?
OGN coin is a cryptocurrency that is traded on many exchanges, including large cryptocurrency exchanges. Among these exchanges, Binance, KuCoin, Bitget, Huobi Global, Coinbase and SushiSwap stand out. Investors interested in Origin Protocol must first become a member of one of these exchanges. Investors who are fully members can purchase OGN by depositing funds into their wallets.
