The protocol members can earn up to 25% by staking OGN. OGN tokens can be used for staking, trading, rewarding, governance, and payments. The first buyback took place in May 2021 for $1.3M worth of OGN. OGN buybacks are conducted using revenue generated from various income sources. The coins are allocated in the following way: long-term partnerships get 0.73%, advisors get 4.38%, 12.99% is intended for ecosystem growth funds, 23.75% was distributed through strategic sale, 4.84% of coins were sold during ICO sale, the team received 20.24%, advisor grants collect 1.69%, 31.37% of coins go to foundation reserves. The private pre-sale was held from January 12 to April 10, 2018. The ICO was held on CoinList from June 18 till August 1, 2018, and raised 6,600,000 USD. The maximum number of OGN is limited to 1 billion coins. Origin Protocol is powered by its native utility Origin token (OGN) that runs on the Ethereum blockchain. The protocol has been backed by a lot of private investors and investment companies among which are Pantera Capital, Foundation Capital, Garry Tan, Alexis Ohanian, Kamal Ravikant, and Steve Jang. It allows low-income groups to access open markets without the need for a bank account. Origin provides transparency, lower transaction fees due to the intermediaries’ removal, an improved motivation system that encourages users to keep the platform growing, pursuit of innovation and decentralization, and better accessibility. Users only need to register once, after that they can interact with any marketplace created on Origin. For safety reasons, new users are required to go through the KYC procedure. It offers a decentralized app Origin Marketplace, launched on the Ethereum mainnet in 2018, which allows users to connect their Ethereum wallet, view product listings, send messages, arrange transactions, and leave reviews. Origin Protocol provides a platform, which enables buyers and sellers to build e-commerce applications for promoting their goods and services through peer-to-peer networks. The company is headquartered in San Francisco, US. The platform aims to build a global online marketplace without intermediaries using the Ethereum blockchain and Interplanetary File System (IPFS). Origin Protocol is a network launched in 2017 that allows market participants to connect directly on the blockchain.
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