Origin Protocol (OGN) is a network that enables market participants to share goods and services using peer-to-peer (P2P) networks. The platform wants to create a large online market by using the Ethereum (ETH) blockchain and the Interplanetary File System (IPFS) to get rid of the need for middlemen.
The protocol enables the development of decentralized environments in which buyers and sellers can connect, check available listings, and execute a number of other tasks. This facilitates the easier trading of fractional assets.
Origin was established by two businessmen Josh Fraser and Matthew Liu. Josh started working with cryptocurrencies in 2011, and Matthew joined soon after and took part in the Ethereum crowd sale. Yu Pan, who co-founded PayPal, is the technical founder of Origin Dollar (OUSD). Origin's workforce includes early employees from YouTube, Instagram, Coinbase, Tesla, Lyft, 1inch, and Dropbox, among others.
The Origin Protocol seeks to address a variety of problems affecting the DeFi community. The platform uses a marketplace, a launchpad, and incentives to make peer-to-peer commerce with NFTs and DeFi popular. Here are a few more issues that the Origin Protocol could be able to help with. Investor Confusion - DeFi users today are mostly technically savvy. Using DeFi protocols is hard and time-consuming. The Origin Protocol eliminates the technical barriers to using DeFi by adding a simple dashboard interface. Accessibility - The removal of technological and financial restrictions allows the Origin Protocol to give its services to everyone. Both new and experienced investors can find various reasons to use the network. As a result, the Origin Protocol could help to make these technologies more popular in new ways. Centralization - Another problem that the Origin Protocol solves is centralization. The platform gets rid of the idea of a centralized market. Instead, NFT creators are encouraged to build unique marketplaces that cater to their niche audience.
Open-source decentralized applications (dApps): The Origin Protocol dApp enables buyers and sellers to make transactions directly without a third party. More of these marketplaces are being created, and development by third parties is encouraged. The protocol's open-source developer libraries make it possible to create these dApp marketplaces in minutes. Through this, developers can come up with new ideas and create new B2B and B2C platforms without going through middlemen.
Origin dollar (OUSD): The OUSD or OGN coin, the system's stablecoin, can be used as a transaction currency in dApps developed on the Origin protocol. This stablecoin can also provide its holders with a return without requiring them to lock up assets in liquidity pools (LPs) or stake coins in proof-of-stake (PoS) consensus protocols.
OGN is the native utility token that is utilized to fuel the Origin platform, enabling incentive systems, payments, and future governance mechanisms. Reward: Users get OGN for getting cash back on purchases, verifying their identities, promoting Origin on social media, and bringing new users to the platform. Commissions/Advertising: Sellers pay OGN commissions to application developers in order for their listings to be promoted and obtain more visibility on marketplace and e-commerce applications, resulting in more sales. Payments: Buyers can use OGN to pay sellers for products and services.
| DATE | NEWS/EVENTS | IMPACT |
| 11/04/2022 | Praise Pals teams up with Origin to launch NFTs for Joy | +26% Increase |
| 03/03/2021 | Binance has launched OGN Staking | +95% Increase |
| 17/11/2020 | Origin Protocol loses $7 million in the latest DeFi attack | -21% Decrease |
The Origin Protocol is a decentralized platform that seeks to promote the development of Web3 and DeFi by providing traditional B2B and B2C marketplaces, such as Uber and Airbnb, but without the use of middlemen. With an active team and a good number of transactions, the Origin Protocol looks promising. However, in terms of its future direction, it remains to be seen if the Origin Protocol will be able to create a truly unique offering in comparison to its competitors.
Origin Protocol