Origin Protocol (OGN) is a blockchain project that allows participants to share goods and services via P2P networks.
What is Origin Protocol (OGN)?
Origin Protocol (OGN) is a protocol focused on NFT and DeFi, where users can share products and assets peer-to-peer (P2P). Its symbol is OGN. Origin Protocol (OGN) is a San Francisco-based project. Its founders are Josh Fraser and Matthew Liu. The first version of the project, which started in 2017, was published on the Ethereum Mainnet in October 2018. It was released to the crypto market on January 10, 2020.
Origin Protocol (OGN) works with Ethereum infrastructure. It aims to provide users with a commission-free experience by eliminating the intermediaries needed in traditional financial transactions 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. In addition, Origin Protocol (OGN) aims to be a leading platform where users can promote and sell their products.
Origin Protocol works as a decentralized Blockchain network built for DeFi and NFT transactions. The network is designed to offer high scalability and speed.
Origin Protocol (OGN) for Users
OGN enables users on the Ethereum network to communicate and shop without intermediaries for low transaction fees. It is also an open source platform that rewards and encourages users for their contributions to the network.
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.
Origin Protocol (OGN) has a stable coin called OUSD. This stable coin, indexed to the dollar, offers users the opportunity to earn passive income. Users holding stable coin can make their transactions autonomous by saving time through automated smart contracts.
What is OGN Coin?
OGN coin is Origin Protocol’s governance token. OGN holders can participate in the management of the platform using their assets and vote on the decisions taken. Also, OGN is distributed to incentivize users. Users who promote and market products created by NFT vendors are rewarded with OGN. OGN coin can also be used for purposes such as purchasing products within the platform or paying transaction fees. OGN, which has a 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.
