What is Origin Protocol (OGN) How does it work?
Origin Protocol is a platform that produces web3 technologies for users to access various products in the NFT and DeFi fields. Origin Protocol’s stablecoin and its Ethereum staking service represent its products in the DeFi space, while there is also an NFT platform where NFT creators are supported and incentivized. Therefore, it is appropriate to examine Origin Protocol in two separate categories.
DeFi
Origin Protocol’s own stablecoin, Origin Dollar (OUSD), offers a value equal to the US dollar (USD). The assets held as collateral for the stablecoin include USDT, USDC, and DAI. Holding these three most popular stablecoins as collateral ensures trust in OUSD, while it should be noted that any problem with one of these three stablecoins could directly affect OUSD.
Origin Protocol distributes the income it earns through OUSD to users who hold OUSD. Unlike other platforms, this distribution does not require staking or any locking period. Having OUSD in a wallet is sufficient to earn passive income.
The second main product of Origin Protocol in the DeFi space is its Ethereum staking service. Since staking Ethereum requires a certain level of technical knowledge and a capital of 32 ETH, there are many intermediary platforms to facilitate this process. These intermediary services, reduce capital requirements and eliminate the need for technical knowledge. The service offered by Origin Protocol also provides these conveniences and issues a token called OETH in return for the amount of ETH staked.
NFT
The NFT platform of Origin Protocol aims to simplify the creation and distribution process for NFT creators to make production easier and more efficient, in addition to offering NFT buying and selling services like similar platforms. Thus, it aims to support NFT creators both in the production and marketing stages. The platform also activates credit card payments besides cryptocurrency, trying to connect NFT creators with a broader user base.
OGN
Despite the many different services offered by Origin Protocol, the governance token of the platform, the OGN cryptocurrency, is used for the management of all these services. Therefore, the valuation and interpretation of Origin Protocol’s services are directly influenced by the OGN token.
Get to Know OGN
As of July 4, 2024, the circulating supply of OGN is 586,941,391.
Origin Protocol, based in the United States, was launched in 2017. The developers of Origin Protocol include Josh Fraser and Matthew Liu.
You can access the Origin Protocol website at https://www.originprotocol.com/
All technical details about Origin Protocol can be found at https://docs.originprotocol.com/
How to Store Origin Protocol (OGN)?
OGN is an ERC-20 based token. You can manage your OGN balances with desktop, mobile, and hardware wallets that support ERC-20 based Ethereum assets.
How to Buy and Sell Origin Protocol (OGN)?
To buy and sell Origin Protocol (OGN) with Turkish Lira and Tether, you can use the BtcTurk | Kripto website or the BtcTurk | Kripto mobile application. If you are not a member of BtcTurk | Kripto, you can sign up immediately from our website or mobile application and buy Origin Protocol (OGN) by sending Turkish Lira 24/7 with the 7 partner banks.
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