Serial series of articles about Coin and Token of Coin98. Today, let's learn about Origin Protocol (OGN), one of the coins that Mr. Le Thanh has praised many times on Coin98 Trading Desk!
In this article, we will learn about 3 main parts:
- What is the Origin Protocol, what are the project's ideas and products?
- Relevant information about the main token of the project that we invest in?
- Finally, we will combine the above factors to review an overview of whether OGN Token is worth investing or not?
- 1 What is Origin Protocol (OGN)?
- 2 What problem does Origin Protocol (OGN) solve?
- 3 What is Origin Protocol (OGN) solution?
- 4 What is OGN Token?
- 5 Some basic information about OGN Token
- 6 Token Allocation OGN
- 7 Token sale OGN
- 8 Token Release Schedule
- 9 Origin Protocol (OGN) rate for today
- 10 How to earn OGN token?
- 11 The wallet stores OGN tokens
- 12 Origin Protocol (OGN) trading support platform
- 13 The future of OGN Token
- 14 Should invest in OGN Token
- 15 Summary
What is Origin Protocol (OGN)?
Origin Protocol (OGN) is a Platform build on Ethereum's ERC-20 platform.
According to Coin98 definition:
Origin Protocol is a platform that allows the creation of peer-to-peer marketplaces of parties that can connect and trade goods and services on these markets. Developers can create their own applications on the Origin platform.
Origin's vision is to reduce / eliminate unnecessary costs, promote an open economy, grow more transparent e-commerce, and redistribute more equitable value to participants.
What problem does Origin Protocol (OGN) solve?
Some of the common problems that Origin Protocol (OGN) poses are:
Uneven distribution of value between parties within the Marketplace
The value received by intermediaries is not commensurate with the value they bring.
In Origin Protocol's White Paper they argue that online travel companies such as booking.com and Expedia charge affiliate hotels up to 15-30% of the transaction value. Other names can be mentioned such as AirBNB, Uber, Fiverr ...
The intermediaries control a huge store of user data. These corporations often use this data for their own benefit.
Moreover, such focus often makes them a bad target for Hackers and we do not lack the most recent hacked user information case, Hacked Twitter.
Lack of motivation for innovation
In some industries, there exist many monopolies, when in such positions many of them operate with the main purpose of "maintaining" their position. These companies lack motivation and healthy competition to grow and innovate.
A good example of this is Craigslist. It is the first mainstream goods and services marketplace on the Internet, which has grown for more than 20 years despite an outdated user experience that doesn't even offer a secure and easy way to pay for transactions. Even so, many of its competitors failed because Craigslist had the dominant advantage of being "the first in the industry".
What is Origin Protocol (OGN) solution?
Origin's solution is a Platform that allows the creation of Marketplace with the following highlights:
- Lower Fees: Buyers and sellers can save more money when the middleman is removed.
- Better incentives: Anyone can own shares in the network by contributing to the growth of the platform by introducing new users, promoting deals, promoting or building apps on the Origin platform. .
- Easier access: Anyone can access it, even if that person doesn't have a bank account.
In addition, Origin also provides other resources for developers to develop the ecosystem of the typical platform such as: Open source protocols, developer libraries, tools to create markets.
What is OGN Token?
OGN is the Native Token of the Origin ecosystem and is used for the following purposes:
- Rewards: Users are rewarded with OGN for earning cashback (which is like a discount) on purchases, verifying identity, promoting Origin on social media, and referring new users to the platform.
- Commissions / Advertising: Merchants pay app developers OGN commissions to promote their listings and gain higher visibility on e-commerce and marketplace apps to generate additional revenue.
- Payments: Buyers can pay the seller in OGN in exchange for receiving goods and services.
- Staking: In the official announcement, it is determined that there is, but has not announced the model and related information, is still in the R&D process.
- Governance: OGN Token will also have a governance function in the future.
Some basic information about OGN Token
- Token Name: Origin Token
- Ticker: OGN
- Blockchain: Ethereum
- Contract: 0x8207c1ffc5b6804f6024322ccf34f29c3541ae26
- Token type: Utility
- Token Standard: ERC-20
- Total Supply: 1,000,000,000 OGN
- Circulating Supply: 86,360,109 OGN (Aug 05, 2020)
Token Allocation OGN
- Advisor: Account for 4.38% of total supply.
- Strategic Sale: The strategy accounts for 23.75% of the total supply
- CoinList Sale: 4.84% of total supply
- Team: Account for 20.24% of the total token supply.
- Advisor Grants: Accounted for 1.69% of the total supply
- Foundation Reserves: Account for 31.37% of the total supply.
- Ecosystem Growth Funds: 12.99% of total supply.
- Long-term Partnerships: Account for 0.73% of total supply.
Token sale OGN
OGN Token has a Token Sale 3 times, the time and price for you can refer to the table above.
Token Release Schedule
The OGN token will be partially unlocked monthly. According to project information, the total circulation supply will increase by 5-7% every 3 months, each item will be unlocked a little.
You can refer to the visual chart of the number of% tokens unlocked from 1/2020 - 4/2022 in the above chart.
To consider the schedule of unlocking OGN's longer-term tokens, you can refer to click here.
Origin Protocol (OGN) rate for today
How to earn OGN token?
As in the OGN Token section, you can join the Origin Protocol Dapp ecosystem to buy and sell products on it to receive OGN.
The OGN copper exchanges mentioned above, Coin98 have all detailed articles. You can search and refer to more.
The wallet stores OGN tokens
OGN is an ERC-20 token so you can store it on Ethereum wallets that support this standard like:
- Saw Coin98 Wallet: This is the multi-chain wallet product of Coin98 Finance team. Allows storing most of the tokens of popular blockchains today such as Bitcoin, Ethereum (ERC-20, ..).
- Myetherwallet wallet: Mycrypto, Metamask.
- Hard wallets: Ledger Nano S, Ledger NanoX, TreZor, imToken.
- Application: Trust wallet, Atomic Wallet.
In addition, you can store on the PRESTIGE exchanges that have supported listing of OGN.
Refer to the article: Instructions for using USDT Coin98 Wallet
Origin Protocol (OGN) trading support platform
According to the data of CoinGecko, OGN tokens have been traded on exchanges such as Binance, Houbi, MCX Uniswap V2, kyber Network ... with total trading volume in the past 24 hours reaching 6 million USD.
Maybe you are interested in: What is Binance? How to use Binance Exchange?
The future of OGN Token
Origin's market is the Sharing Economy, a market of hundreds of billions of dollars with many traditional companies dominating and making money. Origin project needs more than just a brilliant technology to compete with these giants.
Choosing a niche in it is a right direction that both saves resources and is easier to focus.
Origin Protocol chose the E-commerce market - one of the fastest growing industries in the blockchain industry over the next few years.
Looking back at OGN Token, this is the Native Token of the project. In the long term the price of the OGN Token will depend on the actual application of the Origin Platforms technology and the number of Users and Developers that they will be able to attract.
The larger the ecosystem, the more valuable the project, in the long run the price will go with value.
Should invest in OGN Token
This part will be my subjective view on the short-term (6-12 months) future of OGN Token.
Ideas and products
The idea of creating Market Places on Ethereum is not new. This is a long-term idea and takes a lot of resources to be successful but the team has stepped out of the Concept phase and have a finished product initially. This is one of the pluses for the project.
Origin Protocol products are:
A decentralized, open-source e-commerce platform that allows people to create an online store easily with features such as: Fast setup, relatively cheap fees, support for credit card payments, Token ERC20 on Ethereum.
You can refer to how to install and use Dshop in the video below:
A mobile app (Android, IOS) that allows people to buy Rent, rent a car, buy concert tickets on the Origin app, is already available on Samsung Blockchain Wallet.
The website version of Origin Marketplace.
Talking about personnel, this is a bright spot of the project, Core team many people used to hold important positions in big companies such as Google, Youtube, Paypal, Dropbox.
One of the highlights I noticed is Yu Pan - R&D Engineer at Origin Protocol, this guy is Co-Founder of Paypal, one of the first employees of Youtube, CTO of 1i ... and now he is an R&D Engineer. at Origin from 8.
About the Team of the project you can read more here.
The backed line of the OGN project is quite quality.
In the 3 rounds of fundraising, a fair number of up to nearly 40m is also raised, which is quite large compared to the common ground of Crypto projects today.
VCs segment has a few prominent names such as Pantera Capital, Consensus Capital.
Some names in the Portfolio of these VCs that we are quite familiar with are: Kyber Network (ROI YTD 770%), Polkadot (ROI YTD 14.3%), 0x (ROI YTD 97%), Basic attention Token (ROI YTD 50.2%), chainlink (ROI YTD 313%), Perlin (ROI YTD 274.8%).
Individual Investors have a few prominent names: Steve Chen (Founder, YouTube), Alexis Ohanian (Founder, Reddit).
Brothers refer to details here.
First I will say the Velocity of Money in English is the Velocity of Money.
The velocity of money is a measure of the number of times money moves from one entity to another in a given period of time.
The velocity of money is an important metric to measure the speed at which money is being used to buy goods and services. It is used to help economists and investors evaluate the health of an economy.
In Crypto the velocity of a cryptocurrency can be calculated by:
Velocity = total transaction volume / market cap
The higher the velocity means that the Crypto tends to be exchanged rather than stored.
Based on the design used by OGN, we can see that Rewards, Commissions / Advertising, Payments designs increase the circulation speed of OGN Token (short-term Sell Demand).
In contrast, designs such as Staking and Governance increase the demand for buying and storing OGN Token (Buy Demand).
At the time of writing this article, details of model Staking and governance of OGN has not been Released yet so I cannot assess whether these Buy demand is strong or not?
As for Token Release Schedule, it is clear that this is a significant Sell Demand for OGN tokens because every month there are unlocked tokens, this number falls to 5-7% of the Total Supply every 3 months.
In the remaining 2 quarters, the project will Released some important features as follows:
- Research and launch new bonus and bonus use cases for OGN (the Staking feature) targeting end users, merchants, affiliates, as well as infrastructure vendors and developers.
- Launch of tools and API for new developers to allow more types of dApps.
- Allows for Governance features of OGN Token.
Token price of course depends not only on the above but also on our expectations of the project. I will review some notable points of the project.
The point I really like about the Origin project is the way they try to be transparent about OGN Token through the token details page. On this page there will be quick Stats on OGN price, capitalization, Circulating Supply, total supply, Token Unlock Schedule, Modeled with actual token release schedule, everything is clear and intuitive.
For me, in a Researcher corner, the fact that a project tries to bring clear and unambiguous information about the Token is very remarkable for their efforts and efforts to provide information to Token Holders.
The second point is how the Team tries to reduce the circulating supply by various means:
- Many investors and our team members have voluntarily locked in for a while.
- The project's founders are committed to not selling any OGN tokens in 2020.
The total number of tokens locked out is 40,569,158 OGN while in circulation currently 92.716.867 OGN. That means nearly ½ of circulation tokens are locked.
For more details, please refer to the information you have just shared here.
Hopefully, my last article has helped you to have a better overview of the Origin Protocol project as well as the OGN coin.
As for you, what do you think about coin after this article? Please share your thoughts in the comments or in the Group telegram.
See you in the following articles!