Proposal: Add support for OGN

Origin Protocol (OGN) is a decentralized finance and commerce protocol working to eliminate the intermediaries. We recently launched an NFT platform that has attracted high profile buyers and sellers, including Jake Paul and Grammy Award-winning musicians. Origin also maintains OUSD, a yield-aggregating rebasing stablecoin.

OGN has deep liquidity and is listed on Binance (with futures and margin), Huobi (with margin), and Coinbase Pro.

Why this would be good for Aave

Origin has a large and active community that could help bring new users to Aave. The email list is over 250,000 strong. OGN have over 70,000 people in our various Telegram groups, as well as nearly 100,000 Twitter followers and nearly 500,000 members on Blockfolio Signal. OGN has a very strong presence in Asia with full-time employees focused on Korea and China as well as other Asian countries that are less familiar with Aave.

Origin has a suite of working products, a well-respected team, and a track record of shipping code. We’re long-term believers in this space and are deeply committed to the success of Aave and the broader ecosystem. We’re optimistic that DeFi will eventually attract the masses that borrow/lend in order to finance real-world commerce, such as the purchase of goods and services on Origin decentralized stores and marketplaces.

In addition, regardless of whether OGN is added as a supported asset on Aave and subsequent proposal, this process will be a strong example of how decentralized governance can work in action. Just like DeFi has composability, we believe decentralized governance should have composability, and this will be a great way to test the chaining of two governance votes together.

About Origin

Origin’s mission is to bring peer-to-peer commerce (NFTs) and decentralized finance (DeFi) to the masses.

Origin was founded in mid-2017 in San Francisco and the 20-person team includes one of the founders of PayPal, the first engineer at YouTube, and former engineering managers from Google and Dropbox. Origin conducted token sales in 2017 and 2018, raising $38.1M, led by Pantera Capital with participation from Foundation Capital, Kyber, QCP Capital, and Alexis Ohanian (co-founder, Reddit), Steve Chen (founder, YouTube), and Garry Tan (partner, Y Combinator).

The Origin Marketplace is live on the Ethereum mainnet and our decentralized stores are used by many well-known players in the crypto community including Brave, Solana, Contentos and Kyber. OUSD has attracted millions of dollars in deposits and our first NFT auction netted nearly $12M for the creator.

About OGN

The Origin Token (OGN) is the governance and value accrual token for the entire Origin Platform and suite of products. OUSD is being transitioned into ownership by the community with OGN as the governance token.

OGN token holders will be able to create and vote on proposals to govern the underlying protocol. This may include:

  • Adding/removing new types of yield-earning strategies
  • Allocating capital across a basket of strategies
  • Determining what fees are charged by the protocol
  • Determining what incentives (e.g. OGN rewards for liquidity mining) are offered on an ongoing basis

Address: 0x8207c1ffc5b6804f6024322ccf34f29c3541ae26

Type: ERC20

Decimals: 18

Supply: 1,000,000,000 OGN

Holders: 35,299 addresses

Origin Tokens are being slowly released to presale investors, team members and advisors based on a gradual release schedule that’s available on the Binance Research report and the Origin’s Token dashboard .

Potential concerns

Liquidity

We recognize that liquidity is important for the security of the platform. OGN is currently listed on top exchanges like Binance, Huobi, and Coinbase Pro. Daily trading volume has ranged between $50M on the low end to $533M on the high end in recent weeks.

Other platforms

Composability is one of the most interesting parts of DeFi, and OGN is already available on other DeFi platforms like Cream, Uniswap, SushiSwap, Kyber and Balancer.

Security

Origin’s smart contacts have been audited by Trail of Bits. You can find their report and our responses to their findings here:

Medium – 17 Jan 20

The Results of Our Smart Contract Audit with Trail of Bits and How We…

At Origin, we take security very seriously. In particular, we are abundantly cautious with our smart contracts since they are the very…

Reading time: 4 min read

Custom functionality

The OGN contract has a custom approveAndCallWithSender function that is based on ERC-827 that allows OGN to be approved and transferred to a whitelist of addresses in a single step. We added this function to improve the user experience for users of the Origin marketplace. While adding complexity, we do not believe it adds any security considerations for our token or the security of Compound.

Admin rights

The OGN contract is owned by a 5 of 8 Gnosis mutisig contract which has been audited by OpenZeppelin, ConsenSys, Origin’s team, and others. While we can’t reveal the identities of the keyholders for security reasons, we can share that the keys are held by individuals with close ties to the company. Our keyholders have been instructed to manually double-check every proposal for accuracy before granting approval. The keyholders are highly intelligent and ethical individuals. My cofounder, Matt, and I have known and worked with many of them for years and we trust them to protect the best interests of all token holders.

Like many other widely used tokens, we included the OpenZeppelin libraries that enable minting, burning and pausing. We included this functionality solely out of a desire to reserve optionality in an unknown future. We have no current plans to use it and have put careful processes in place to prevent both accidental and intentional abuse. Even as founders acting together, Matt and I do not have enough control to execute those owner functions on our own. We recognize that burning any externally owned tokens could do irreparable harm to our reputation and value of our token. As a result, this external burning capability would only be used under extreme circumstances and with community support.

While we’re not ready to revoke ownership of our token contract altogether as the network is still developing, we are open to adding a Compound-inspired timelock in front of any admin function calls if that will make a difference for the community.

Community feedback

We’re genuinely interested in hearing community feedback on this proposal as well as any suggestions that would make it more compelling. Let us know your thoughts and questions!

22 Likes

Let’s do it! Origin has been focused on building since the beginning. 2017-2021~ adding more value.

9 Likes

Simply saying OGN will bring huge benefits to crypto community. Check it!

8 Likes

OGN is already making its way to the top 10

6 Likes

OGN is full of potentials

6 Likes

Everyone can notice that Origin is the next big thing in the NFT space.
On top of that, custom functions implemented to the code make the development of decentralized marketplaces easier than ever before. The team is focused on bringing real cases to the crypto-world and every of their actions is headed toward this direction.

6 Likes

OGN has a solid community of diverse interests. There are token investors who are always looking for new ways to play the market. The Marketplace and Sharing economy crowd whose values also align with Defi governance. Their Defi followers with Staking on their dapp and Binance, Cream borrowers, OUSD holders. Then there are the people holding it for the long-term because the overall ecosystem is designed to build value to the token holders, relieve selling pressure, and grow liquidity.

The lite paper made clear their commitment to continue to grow into this space and their community appears to be completely onboard if price can be considered in these matters.I think this would be mutually beneficial for both the Origin and Aave communities.

5 Likes

OGN has and amazing team and product. They have the best example of a successful NFT marketplace platform out there. It will only get better.

3 Likes

It would be wise to have OGN mature along AAVE. Yu freaking-I-Invented-PayPal Pan is a founder of OUSD. The team is probably one of the most attractive aspects because we can have faith that they will add value to the industry and community but the economomics of OGN is pretty good. look at their token dashboard 71 Million OGN staked and more than 50% of that is for 365 days. Their community of holders are interested in more than quick gains. They are willing to try Defi products, and they have every reason in the world to want to explore what this community can offer.

3 Likes

Let’s bring it on. Origin is bringing peer-peer commerce (NFT) to the masses. They’ve got a large community and massive presence.

2 Likes

$OGN has a very strong community, deep liquidity and listing on ALL the top dexes.

Moreover, Origin team is super quick to act and deliver tech :+1:

2 Likes

OGN is a big deal, They’ve got the best Team that’s ready to push the crypto space forward, Especially with thier recent move into the NFT Space… The party is just getting started.

1 Like

Insight will make one realize OGN is full of potentials and can’t be knocked off. Backed with an amazing team and a great community, I feel the future is here.

1 Like

$OGN is one of the best projects in crypto with a mindblowing team :muscle::muscle:

1 Like

Yeah that’s what I’m talking about. They are going to give OUSD back to their community. Who does that? No wonder people are just staking OGN. This thing barely learned to walk, imagine what it will be like when its running at full pace? I love seeing this types of projects bring their users into defi

2 Likes

DeFi and NFT tech are showing us their power. At this point Origin Protocol is competing at the top with Rarible, Opensea, Theta, Chiliz, others. I consider this one as unique because it wants to eliminate/reduce middlemen per transaction. With a new trend as NFTs, it’s important to receive as much money as you can per NFT sold.

Usually, Singers and Artists lose a lot of money when they sell anything to the main stream so now they will be happier with this kind of project. You’re working Jake Paul and Lupe Fiasco and it’s impressive. Good luck on this proposal guys! :star_struck:

2 Likes

$OGN is a powerhouse. Clearly. If this proposal pass, which is highly likely , this will only add to the credibility of $AAVE.
It is not a coincidence that Coinbase Pro about to list Origin Protocol. Coinbase they did their homework. You should do as well then. $OGN CEO Josh and Co-Founder Matthew builds something for the long run. I am more bullish for $OGN than ever. King of #NFT combined with #ecommerce.
First Lupe NFT drop on the 12th of April then Jake is next.

1 Like

Have known Originprotocol as a very strong project with dedicated, diligent, and professional team.

This project actually came to revolutionize the e-commerce space and to show the rest how Dshop works in a very positive ways.

Recently OGN made it to coinGecko NFT list, which simply means entering NFT space is not by mistake.

Coinbase listing is another mind blowing news which shows the journey just begin👌

1 Like

Guys, OGN has a new support which is 3$ watch out because Jake Paul, Paris Hilton, Lupe Fiasco are buying OGN, you can confirm this on Google!

$OGN is one of the strongest project in #crypto Space with reliable, dedicated and fantastic team. Go $OGN! The best is yet come :muscle: