Origin Protocol

What is Origin Protocol (OGN)?

Powered by the Ethereum blockchain, Origin Protocol, like many others, is a platform seeking to introduce and deliver NFTs (non-fungible tokens) and DeFi (decentralized finance) to the general public.

The Genesis of Origin Protocol

Matthew Liu and Josh Fraser are mainly responsible for the founding of the Origin Protocol in 2017. Both of these founders have experience in social networking, with Liu in particular having worked at YouTube. However, Yu Pan, the popular engineer who was PayPal’s co-founder and one of the first employees at YouTube, joined these two later on.

With its ICO (initial coin offering), which took place around September 2018, it raised approximately $38 million. It then launched the preliminary version on the Ethereum blockchain the following month, in October 2018. Since then, it has kept on updating its features.

The Vision: Decentralized Commerce

The Origin Protocol aims to generate a marketplace with a shared economy where buyers and sellers can have some much-needed control over their data.

It also aims to be a marketplace where transactional fees can be substantially reduced, along with reputation scores and identity verification, allowing for a decentralized e-commerce platform.

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The Origin Platform

Outlined below are some of the underlying features that can be seen within the Origin ecosystem.

Peer-to-Peer Marketplace

With Origin, users have access to various P2P marketplaces. Here, users can easily link their Ethereum wallets, evaluate product listings, send messages, conduct transactions, and upload reviews, among other things.

Consequently, affordable transactions, transparency, incentive systems, and higher accessibility are all things that Origin’s marketplaces can provide for its users.

Developer Tools

Here, developers have all the tools they may need for creating their own marketplaces and managing their communities. In other words, they have customizable options that allow them to fine-tune their marketplaces so that certain clients can comfortably be catered for, allowing them to provide unique experiences.

DApp Ecosystem

The decentralized applications (dApps) within its ecosystem can be split between the three different features it offers, namely Origin Dollar, Origin Ether, and Origin Story, all of which offer applications unique to what they provide.

How Does Origin Protocol Work?

Within this section, we will briefly look at some of the things that make the platform work, like the security measures it has adopted and the actual NFTs within it.

Decentralized Agreements

This is where the IPFS (Interplanetary File System) and the Ethereum blockchain come in, which essentially allow both the platform and the participants within its community to engage with one another in a peer-to-peer manner. This removes intermediaries from the mix, enabling the booking and creation of goods and services, hence the decentralized aspect of the agreements.

Security Measures

The Origin Protocol has been made with an emphasis on security. This is evident by how its smart contracts have seen some rather comprehensive auditing by top security firms like Trail of Bits, Solidified, Certora, and OpenZeppelin, along with the regular conduct of internal audits.

Other than these robust measures, there is also the fact that its codebase is open-source and can be kept track of by the various skilled members within its community, which can aid with the quick identification of any possible issues.

NFTs in Origin Protocol

The NFT drops and marketplaces on Origin come from a diverse set of individuals or sources, from creators and crypto-native collections to various tech industry leaders. It has even partnered up with celebrities like Paris Hilton, Trevor Jone, and Lupe Fiasco, as well as industry-leading firms like SpaceX and Roofstock. Hence, the NFTS found here are truly one of a kind.

OGN Token

Here, we will be shifting our attention toward Origin Protocol’s native token, highlighting some of its uses and a few of its stats.

Utility and Use-Cases

OGN is essentially what powers the entire ecosystem at Origin, serving all kinds of roles, from governance and incentivization to payments and advertising.

To elaborate a bit more on its incentivization scheme, you can be rewarded with OGN tokens whenever you have verified your profile, referred the platform to family or friends, shared news pieces on social media outlets regarding Origin, and purchased from its featured sellers.

Other than that, the more obvious use cases involve it serving as a medium of exchange for the goods and services that can be bought and also for advertising purposes, in case you want to promote your profile. And finally, you can even stake the token to earn some discounts on certain deals.

Tokenomics

Moving onto tokenomics; the token’s price is currently sitting at approximately $0.09. Its market capitalization is slightly over $46 million, and its daily trading volume is a little over $10.2 million. As for its fully diluted valuation, that is more than $91.6 million.

On the other hand, its maximum supply is capped at 1 billion tokens, and its current circulating supply is slightly over halfway there, with over 502.7 million tokens.

How to Buy OGN on Binance

Now, if what has been mentioned here has resulted in you wanting to invest in this token, then we will discuss how that can be done on Binance, which is probably the most popular cryptocurrency exchange in the space.

Registration Process

If you haven’t already registered for an account on this exchange, then you can do that by either using its mobile application or its official website. Regardless of what option you want to use, the process, like that found on any other exchange, will be relatively straightforward.

All that needs to be done is enter an email address, set up a strong password, and then verify your email address by entering that six-digit verification code. Speaking of codes, click on the link below to register using the Coin Labs referral code and receive a few sign-up bonuses.

KYC Verification

Once you’re done with registration, you might want to complete the KYC process here. This is so that you can experience a hassle-free experience when trading and not come across any limits. So, head over to its verification page, where you will have to fill in a few personal details about yourself, namely those related to your identity. So, once you have added them, the next step will be for you to provide a few documents showing the same details you entered earlier.

Two-Factor Authentication

Now, we will look at how you can raise the security of your newly created account by setting up 2FA on Binance. You can either do that through Binance’s authenticator application or by using the standard Google Authenticator.

Still, regardless of what you end up choosing, to initiate the process, head over to its security page and click on the appropriate option. Follow the instructions that Binance will outline about completing the 2FA setup.

Funding Your Binance Account

Next comes funding your account, all so that you will be able to use the numerous options available to buy the tokens you want. So, start by going to its deposit page. Select a token and then a supporting network, like ERC-20 or TRC-20, for instance.

Once that is done, you will see a deposit address pop up. Paste that address into whatever wallet or exchange you plan on using to send the funds you want to your account here at Binance, and then confirm your transaction.

Navigating and Buying Process

Now that your account has been properly funded, you can use the several options Binance provides for its users to buy the token you want, which, in this case, is OGN. The easiest of these options would likely be simply converting whatever it is that you have currently deposited for OGN.

Others will include executing buy or sell orders on its spot or futures trading pages, which do not tend to be as straightforward and may take a while to get the hang of. The buying process will therefore vary and may take a while to fully process, depending on the option you have chosen.

Transferring to a Wallet

So, now that you have finally gotten what you were looking for, i.e., the OGN token, you might want to transfer it to your cryptocurrency wallet. You can carry that out through Binance’s withdrawal page. Once there, select the OGN token and the network, and within the withdrawal field, paste your wallet’s address and confirm your withdrawal.

Future of Origin Protocol

Due to its relationship with the NFT sector, Origin may be more or less dependent on the performance of the sector as a whole.

Unfortunately, demand has pretty much waned significantly for NFTs, in particular, for quite a while now, with the current sentiments being rather bearish, which further implies that the future of Origin can be a bit uncertain. However, Origin’s emphasis on e-commerce and lowering the costs normally associated with the sector may yet help it push itself through.

Conclusion

The primary objective behind the formation of the Origin Protocol was to maximize personal liberty. The team behind it wished to provide a platform where lower fees, more innovation, less censorship, and cross-border commerce, among other things, could all be catered for, and so far, whether or not it has done a fair job of delivering that is up to the users to decide, but the fact remains that it has attracted various institutional investors and even celebrities.

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Therefore, we are not responsible for the investment decision in Origin Protocol and the resulting loss.

Origin Protocol Basics

Here are some factors that investors should consider before investing in Origin Protocol.

Cryptocurrency Features	Origin Protocol (OGN)
Publisher or Developers	Origin Protocol Labs
Headquarters (Registration Number)
Symbol	OGN
Platform
Published Date (CMC Registration)	2024-11-01
Max Supply	1,409,664,846 OGN

Reliability Score of Origin Protocol in 2024

These are indexes mesuring the investment reliability of Origin Protocol conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 6 Exchanges
Number of Available Pairs Worldwide	184 Pairs
Market Cap of the Cryptocurrency	90,757,170 USD (Rank #370)

The table above shows the result of investment suitability evaluation for Origin Protocol.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Origin Protocol Price

Here are the price and recent trading volume of Origin Protocol. (Data of 2024-11-02 00:35:00)

Price Items	Price and Trading Volume of Origin Protocol
Origin Protocol Price	0.081 USD
Price Change 24h	0.02%
Price Change 7d	-3.57%
Trading Volume 24h	6,163,438 USD
Trading Volume Change 24h	-58.02%

Cryptocurrency Metadata

You can check the development status and social media information of Origin Protocol through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Origin Protocol

Here are the top ten world crypto exchanges where traders can buy Origin Protocol in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/OGN_USDT
Coinbase	Listed	https://exchange.coinbase.com/trade/OGN-USD
Kraken	Listed	https://pro.kraken.com/app/trade/ogn-usd
KuCoin	Listed	https://www.kucoin.com/ko/trade/OGN-USDT
Bitfinex	Not listed
OKX	Not listed
Huobi	Listed	https://www.htx.com/en-us/trade/ogn_usdt
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Listed	https://www.gate.io/trade/OGN_USDT

Frequently Asked Questions