Please check out latest news, expert comments and industry insights from Coinspeaker's contributors.
Origin also says its staking program will help limit its token’s circulation supply, which will benefit the project’s token economics.
California-based Origin Protocol has launched its native OGN Token staking program, the company announced via a medium post. The initiative, which was launched on the Origin Dollar (OUSD) DApp, allows participants to earn up to 25% yield by staking their Origin Tokens.
30-day staking will allow users to earn 7.5% annualized interest, 90-day staking will get a 12.5% annualized return, and a year of staking OGN will bring a 25% yield.
During the staking period, staked tokens will be locked; after which, users will be able to get both their staked principal and the interest earned. The program is already live on ousd.com, which also hosts Origin’s yield-bearing stablecoin OUSD.
Trading OUSD is temporarily disabled, after a recent hacker attack, but the team at Origin is working to boost up its security and audits. The staking program has been thoroughly checked by its engineering team and by a smart contract auditing company Solidified, the announcement said.
Origin also says its staking program will help limit its token’s circulation supply, which will benefit the project’s token economics. Origin estimates there are about 159 million OGN tokens in circulation now, which is 76 million less than originally expected. For convenience, Origin is offering users a new dashboard to track staked tokens at all times.
Origin Protocol, which was founded in 2018, offers a platform for building decentralized e-commerce stores with DShops and the competitive yield on its OGN Token. Founded by entrepreneurs Josh Fraser and Matthew Liu, the project raised $38 million from top VC firms and individual investors including Pantera Capital, Youtube co-founder Steve Chen, and Reddit co-founder Alexis Ohanian.