Introduction to Origin NFTs Platform and Its OGN Token

UTC by Oluwapelumi Adejumo · 5 min read
Introduction to Origin NFTs Platform and Its OGN Token
Photo: Origin Protocol

Here is everything you need to know about the Origin platform and its OGN token. This protocol solves the bothersome blockchain issues by providing regular and vital incentives to customers with a stake in the network.

Origin protocol with its native OGN token is a peer-to-peer (P2P) network that allows developers to build decentralized marketplaces and other e-commerce applications as well as trade digital assets.

Built on the Ethereum network and integrated with the InterPlanetary File System (IPFS), the protocol strives to bring peer-to-peer commerce and decentralized finance (DeFi) to the masses. Providing regular and vital incentives to customers with a stake in the network, Origin creates a decentralized and incentivized environment for buyers and sellers to facilitate business. It ensures there is increased access to markets, secures transactions against censorship, and most notably, lowers the transaction “gas” fees.

Origin Protocol’s Launch and Team

Origin launched in 2017. With headquarters in San Francisco, it was originally started by Matthew Liu and John Fraser. Both are well-known names in the tech and cryptocurrency worlds. Since then, the team behind the protocol has grown to 18 members, with over 800 investors around the globe.

John Fraser is a coding maverick and a true serial entrepreneur famous for co-founding other successful cryptocurrency ventures apart from Origin. Fraser has great faith in the future of cryptocurrency and is not afraid to back his belief with action. John’s impressive resume includes an Eventvue, Torbit, and Forage.

Matthew Liu is a brilliant product manager and software engineer who has worked for several big names in the tech and cryptocurrency industry. He joined Origin with the aim to satisfy the need for true accessibility in the cryptocurrency market.

Yu Pan is a legend in the tech industry, one of the first six team members of PayPal Holdings Inc. (NYSE: PYPL), and the first employee at YouTube. He has also worked at Google LLC (NYSE: GOOGL) and was a co-founder of Kiwi Crate. He is the lead and founding engineer of Origin.

Frank Chastagnol, VP of Engineering at Origin, is a skilled engineer with extensive experience in the design, implementation, launch, and operations of large-scale systems. Besides, he is no stranger to leading engineering teams. Previously, he headed several engineering teams at Youtube, Dropbox, Inktomi, Paypal, and Google.

Kay Yoo, a talented Chartered Professional Accountant, has worked at KPMG Canada as a senior consultant before moving to Origin, where she is head of Finance and Operations.

Other team members include Micah Alcorn, Coleman Maher, Mila Choi, Anna Wang, Daniel von Fange, Nick Poulden, and Tom Linton.

Origin Technology: Features and Benefits

Origin network and its token are running on the Ethereum blockchain and ERC-20 compliant. The peer-to-peer network uses a shared data layer on the Ethereum blockchain and IFPS network to directly connect buyers and sellers across several applications without the need for a third party.

Interested merchants post listings on the network for a small commission in Origin (OGN) tokens to whatever application they use to connect to the network. The applications will then be able to provide listings from the merchant on the network.

Origin utilizes several middlewares and infrastructural services that increase its efficiency. First of all, they include a meta-transaction relayer that helps subsidize the “gas” fees of transactions. Further, Origin employs the Origin Node, a caching layer with search capabilities. Above all, the platform consists of smart contracts at the protocol layer. Its intermediary APIs that enable the creation of apps by developers.

The platform also has its own Origin Rewards system. It provides end-users with various incentives when carrying out or endorsing transactions on the Origin network.

Origin has many attractive features, but the most important is the meta-transaction option. This unique feature allows users and developers to carry out transactions on the Ethereum network at lower network charges. Unlike centralized networks and traditional payment processors, Origin aims to eliminate charge fees in the future by cutting out intermediaries who require enormous costs.

Centralized networks and other financial institutions often have a rather unfriendly financial relationship with their clients. These institutions must rely on fees to continue operations. For them, their clients are like “preys” constantly paying money. However, Origin solves this problem. It creates a decentralized commercial network and ensures that any user can hold a stake by contributing to its growth.

To sum up, Origin’s DeFi network ensures secure storage of funds and protection of accounts from interference.

Origin (OGN) Token and Origin Dollar (OUSD)

Origin (OGN) token is a highly versatile primary token of the Origin network. It is used for basic transactional activities on the platform and accrues interest even when it is merely held.

Origin intends for OGN to be a commission-type token, handing out incentives like search engine optimization and additional OGN when the developers, merchants, and other high-level operators buy, sell or promote products with the coin.

OGN is already on its way to becoming one of the renowned tokens. The total supply of OGN is 1,000,000,000 tokens. 20.24% of this amount has been allocated to the team.

Origin has also its own stable coin, Origin Dollar (OUSD). It is the first trustworthy stable coin that allows you to yield passive and automatic gains while being passively held in wallets. You can transfer OUSD freely without paying “gas” fees to unlock spendable capital. In addition, OUSD is an ideal unit of account. DeFi investors no longer need complicated spreadsheets to calculate their earnings as they can easily see their constantly updated OUSD balances in real-time as their interest compounds automatically.

Conclusion

Origin Protocol remains the premier Blockchain platform for building decentralized marketplaces. A talented and creative team supports the platform, and a strong community is standing behind them.

Origin’s goals are clear, as the platform aims to build a world where an easily accessible open-source protocol replaces multi-million dollar companies.

Origin protocol has a rather impressive list of investors and backers, from silicon valley tech gurus like Steve Chen and Alexis Ohanian to venture capital firms like Pantera Capital and the Spartan Group.

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FAQ

What is the purpose of Origin platform?

The Origin platform enables actual peer-to-peer trade, allowing developers to build decentralized environments and users to connect to digital marketplaces through the open-source platform. It facilitates e-commerce without the need for third parties and middlemen.

Who are the founders of Origin protocol?

Origin launched in 2017. With headquarters in San Francisco, it was originally started by Matthew Liu and John Fraser, both are well-known names in the tech and cryptocurrency worlds. Since then, the team behind the protocol has grown to 18 members, with over 800 investors around the globe.

How does the Origin platform function?

Origin network and its token are running on the Ethereum blockchain and ERC-20 compliant. The peer-to-peer network uses a shared data layer on the Ethereum blockchain and IFPS network to directly connect buyers and sellers across several applications without the need for a third party.

It uses a series of layers superimposed over the Ethereum blockchain and IPFS. These layers include a shared data layer and a protocol layer for the platform. All data is stored on the blockchain, while metadata is stored on the IFPS, which increases scalability. A DApp can then connect to the platform and all the networks laid over it. It allows suppliers or sellers to post listings that the buyer or consumer can easily find.

Interested merchants post listings on the network for a small commission in Origin (OGN) tokens to whatever application they use to connect to the network. The applications will then be able to provide listings from the merchant on the network.

Origin utilizes several middlewares and infrastructural services that increase its efficiency. First of all, they include a meta-transaction relayer that helps subsidize the “gas” fees of transactions. Further, Origin employs the Origin Node, a caching layer with search capabilities. Above all, the platform is made up of smart contracts at the protocol layer, intermediary APIs that enable the creation of apps by developers.

What is unique about the Origin platform?

Origin is one of the first platforms to resolve the problem of Ethereum transaction or “gas” fees. With lower transaction fees, an improved incentivization system, and better accessibility, Origin aims to disrupt the sharing economy by setting up a decentralized, P2P network between merchants and cutting out traditional intermediaries. 

What is Origin token?

Origin (OGN) token is a highly versatile primary token of the Origin network. It is used for basic transactional activities on the platform and accrues interest even when it is merely held. 

Origin intends for OGN to be a commission-type token, handing out incentives like search engine optimization and additional OGN when the developers, merchants, and other high-level operators buy, sell or promote products with the coin.

Where to buy Origin tokens?

You can acquire OGN on exchanges like Huobi Global, Binance, Uniswap, and even Coinbase. OGN tokens can also be received as rewards or gains when using the Origin platform.

What is Origin Dollar?

Origin Dollar (OUSD) is Origin’s stable coin that captures competitive yields while being passively held in wallets. With OUSD, there is no need to unwind complicated positions in order to spend your OUSD. You can transfer it freely without having to pay gas to unlock spendable capital. In addition, OUSD gives you access to some of the highest-earning opportunities across DeFi with none of the hassles. The OUSD smart contract will deploy your underlying capital to a diversified set of yield-earning strategies, rebalancing over time to achieve great yields while diversifying risk. Earnings automatically accrue in your wallet and compound continuously while you hold OUSD. 

What is the future of Origin?

The Origin Platform with the services it offers may become one of the most significant innovations since the arrival of blockchain technology. Its structure will serve as a model for future digital marketplaces, wherein the customer is truly a king.

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