Origin Protocol

The Origin Token ( OGN ) is the administration and value accumulation token for the stallion Origin Platform and suite of products. OGN token holders will be able to create and vote on proposals to govern the underlie protocol. OGN holders besides directly benefit from the success of the Origin Platform and products built on top of it. Revenues generated accrue directly to OGN via several economic models which can be changed in the future through the administration process. Simply creating a commerce platform using decentralized technologies does not guarantee widespread merchant and consumer adoption. only by creating new cause of death applications that are not potential without crypto-centric technologies will our industry succeed in creating a more open, permissionless, and resilient future for global commerce and finance that impacts hundreds of millions or billions of lives. While there are both buyers and sellers that transact across assorted verticals with stablecoins and/or Bitcoin and Ether, existing far-flung payment methods like credit cards and mobile payments are still preferred by many crypto-savvy users for their ubiquity, convenience, and lack of price volatility. Peer-to-peer commerce is handicapped until cryptocurrencies become the dominant phase of medium of exchange. nowadays most DeFi participants are highly sophisticated and number in the tens of thousands of users, while the majority of cryptocurrency users numbering in the millions have not yet adopted these technologies en masse. Interacting with DeFi protocols is unmanageable and cumbersome, requiring complicated operations like staking/unstaking, measuring impermanent loss, and paying expensive flatulence fees. Further, hundreds of millions to billions of mainstream consumers, merchants, retail investors, modest businesses, and ball-shaped enterprises have identical little cognition of these permissionless fiscal protocols and are unable to participate in possibly the most disruptive motion in finance since the very invention of money itself.

Reading: Origin Protocol

Decentralized Finance ( DeFi ) is the gateway to unlocking massive new fiscal opportunities for lenders, creditors, and liquidity providers. Over $ 40B of value is locked in DeFi protocols, and this number is expected to grow by multiple orders of magnitude in the adjacent few years. however, we are still in the very early innings of the DeFi movement. NFTs can function as digital collectibles. Further, they can be tokenized representations of physical goods and collectibles, unlock other digital contented, and act as access tokens to digital or in-person experiences. NFTs can be used for a wide array of fiscal applications and function cases. The design distance for NFTs is about outright and represents an exciting substitution class shift for blockchain technology. The first meaning beckon of users of decentralized commerce applications will be those seeking experiences or products they can not get from centralized alternatives. many of these early on users will be crypto natives. The most big product class to emerge is the Non-Fungible Tokens ( NFTs ) upright. NFTs do not merely defend digital collectibles but can create entirely newly experiences for creators and communities. To realize our ambitious imagination, we will continue to develop and grow the Origin Dollar ( OUSD ) as a critical DeFi construction block and money lego that is highly composable. It will exponent multiple mainstream consumer and merchant applications in the approach future. We anticipate millions of users to be using applications powered by OUSD in the next few years without necessarily even realizing they are using an underlie DeFi product. similarly, we believe there needs to be more compelling reasons for consumers and merchants to use cryptocurrencies and blockchain technologies for billion and trillion-dollar size department of commerce opportunities to exist. Peer-to-peer and consumer-to-merchant cryptocurrency transactions need to be made far simpler than they are today. We need to propagate cryptocurrency payment rails that are superior to existing credit/debit cards and mobile payments that rely on decree currencies and centralized systems. In addition, we will make it dead simple for mainstream consumers to participate in DeFi yield earning strategies. Investors and lenders should be earning yields at 10 to 100 times ( 10-20 % ) at what is offered presently by traditional bank systems. Borrowers should have easier access to credit to finance their investments, businesses, and other enterprises. far, this all needs to happen in frictionless and slowly ways that are in stark contrast to the merchandise experiences of today ’ s first-generation DeFi products. As of early 2021, NFTs have now overtaken DeFi on Google search trends and hold the kind of broad mainstream cultural appeal that early crypto verticals lack. This is a keystone factor that makes us believe NFTs will be the first product category that onboards mainstream users into crypto. The platform that is able to successfully onboard both creators and purchasers of NFTs will capture enormous value. We intend to be that platform. In 2020 alone, over $ 250M in NFTs changed hands, with most of that occurring late in the year. The rate of emergence in NFT sales and trade volume and the rate of invention in the space is exponential. Top brands like the NBA and MLB have already gotten involved and everyone from Andreessen Horowitz from the New York Times is investing in or commenting on NFTs. NFTs have the potential to disrupt the music diligence ( $ 70B+ a year ), finely artwork sales ( $ 60B+ a class ), video games ( $ 140B+ a year ), the collectibles market ( $ 370B+ a class ), and many early industries. NFTs represent a massive disruptive opportunity that can touch about every aspect of global culture and commerce. To get there, we will bring blockchain-enabled department of commerce and finance to the masses. We will continue to improve Origin products to enable new killer whale use cases that are only made possible by cryptocurrency technologies. To start, we will take advantage of non-fungible tokens ( NFTs ) to build raw commerce experiences that can not be replicated on incumbent platforms like Shopify, Amazon, or Alibaba. We believe the overlap of peer-to-peer commerce, specially in the NFT vertical, and decentralized finance ( DeFi ) will unlock billions of dollars in value that we intend to capture as share of the Origin Platform and ecosystem .

Origin Products

Since our establish in 2017, Origin has focused on enabling commerce on the blockchain .
While we plan to address commerce across many different verticals, today we are keenly focused on crypto-specific commerce opportunities that target early adopters of our technology. In the last few months, we ’ ve had enormous success in the non-fungible token ( NFT ) market .
We believe NFTs are a nascent but highly disruptive engineering that will bring our crypto-centric commerce products to millions, if not hundreds of millions, of users in the adjacent few years. At the time of compose, Origin set all-time records for largest music NFT sale at closely $ 11.7M with 3LAU and largest viral video/meme NFT sale at $ 760k with the original viral video, Charlie Bit My Finger. The 3LAU sale reached mainstream media outlets like the New York Times and Forbes, CNBC, CNN, BBC, Time, NPR, ABC, NY Times, and dozens of other outlets covered the globally-viewed Charlie Bit My Finger sale. In both instances, Origin saw significantly increased community membership and engagement and interest in OGN following these record-breaking events. We believe that future blockbuster NFT sales will far introduce mainstream audiences to Origin ‘s products and OGN .
The overall market for NFTs is about to hit an explosive inflection degree, and Origin is very well positioned to take advantage of this opportunity. While NBA Top Shots has recently seen a decrease in secondary sales, over $ 200M of transactions were achieved in both February and March of 2021. In May, Larva Labs sold closely $ 90M of NFTs in 24 hours with their Meebits launch. This was soon followed by mainstream business influencer Gary Vaynerchuk launching Veefriends successfully. It is clear that NFT sales are growing at an exponential rate and represent the fastest growing opportunity for crypto-centric department of commerce. even more importantly, we are now seeing iconic ball-shaped brands and personalities like Gucci, the Golden State Warriors, Playboy, and Paris Hilton embrace NFT technology to interact more immediately with their fanbases .
however, we believe that the majority of the market misconstrues NFTs as plainly barely digital art. While digital art is one exciting vertical that we have been able to capitalize on, we believe Origin will redefine commerce in respective other key verticals as well .
Origin Story will redefine department of commerce in several key verticals .
NFTs that are cashable for offline goods
In May 2020, Grammy-winning DJ RAC released his $ TAPE NFTs that were redeemable for physical cassette tapes. little did he know that he would be setting the read for the final sale price of a single cassette record, as $ TAPE tokens redeemable for the cassette tapes finally cleared $ 3,000 per keepsake .
This is equitable one exercise of how NFTs have changed the landscape for limited-edition agio products. NFTs that represent physical offline goods can be authenticated on the blockchain. Influencers, artists, creators, and other merchants can now issue NFTs that are both certifiably barely and representative of valuable physical items .
There is an enormous opportunity to use NFTs to might these godhead communities. Because NFTs are freely exchangeable on the blockchain, they besides inherently create an after-market for circumscribed edition goods .
One needs lone to reference StockX, the premium fink marketplace that is presently valued at $ 2.8 B, to recognize the possibility of NFTs flourishing in many verticals where scarcity and authenticity need to be enforced. nowadays, the company generates $ 400M in tax income by taking fees to certify that premium sneakers are legalize and not deceitful. Using NFTs that are tied to these sneakers would establish a acquit sense of birthplace as sneakers are sold from one buyer to the next .
In another manifestation of using NFTs connected to offline products, the restrict goods do not need to be redeemed. For model, a collector can purchase an NFT that entitles them with the rights to redeem that NFT for fine art, luxury handbags, or other products but can store that merchandise with the original manufacturer. redemption can happen at any point in the future. Again, because NFTs are exchangeable, collectors could invest in luxury items with the hopes of these items appreciating in value. however, they nobelium longer need to take physical delivery and can just sell the NFTs representing the items in an after market to profit from their investments .
Taking this one model one step far, NFT-powered commerce can generate tax income evening before products are developed or manufactured. In the web 2.0 universe, we saw how crowdfunding platforms like Kickstarter and Gofundme were able to generate need for godhead projects. In the web 3.0, NFTs can be a better form to issue ownership of future cashable products. once again, because these NFTs are freely exchangeable they provide backers the ability to resell their ownership even before the projects are completed .
At Origin, we have conducted NFT sales for mega-influencer Jake Paul and One Republic frontman, Ryan Tedder, that enabled collectors to receive restrict edition forcible merchandise in addition to their NFTs. We have even helped close, but highly funded electric motorcycle startup Micro pre-sell their earliest e-bikes that will come off the fabrication line. In the far future, we imagine using NFTs as the engineering for tracking ownership of major physical items like homes and cars alternatively of the arcane processes we have today, like going down to the local courthouse to make certain no one else is claiming to own the same property .
NFTs that access digital subject
We intend to release NFT features that besides provide holders access to digital content and services. For model, content providers can replace paywall subscriptions with NFT ownership. Users that have purchased NFTs can unlock premium articles, unreleased music, premium video content, or special features in social and mobile games .
here are a few examples of how this might work. Today, Patreon influencers allow their super fans to access unique content through the platform. The party generates $ 50M of gross and is presently valued at $ 1.2B. however, these subscriptions and person payments are tied to unique users. In tomorrow ’ mho populace, creators can issue NFTs that unlock special video or music content rather .
In recently Q3 2021, we expect many of our NFT sales to feature unlockable subject. Users lone need to have purchased NFTs in their origin managed wallets or a web3 wallet like Metamask to get access to premium content offered by our many creators .
NFTs that are access tokens
A third opportunity that is a multi-billion dollar opportunity in NFT-powered commerce lies in experiential commerce. NFTs that are certifiable on the blockchain can guarantee authenticity of tickets for professional sports, concerts, and other hot performances. This reduces the gamble of deceitful tickets and besides maintains clear birthplace of ticket resales .
Going back to the Patreon exercise, a godhead NFT may enable a drug user to get a 1-on-1 television chat with their darling fame. Another drug user can purchase a premium NFT that grants them backstage access to their darling musicians concerts for life .
In our highly successful Bassjackers NFT sale, the winning bidder was given the ability to name a traverse and appear on stagecoach with BassJackers at future music festivals and concerts .

Origin Story

The key to unlocking prize in all of these crypto-centric opportunities with NFTs is making NFT issue absolutely bare for creators. In accession, in contrast to existing players in the market like Nifty Gateway, we believe the creators should own the stigmatization and have direct control over pricing models ( e.g. different auction mechanics or tiered price ). Origin Story gives creators and influencers more direct control over their message and their physical, digital, and experiential products. Just as many merchants have chosen Shopify over selling on generic marketplaces that do not allow for custom stigmatization and aim relationships to end customers, we believe the same model will be successful for NFTs. Further, many creators prefer Origin ’ s NFT platform because they do not need to plowshare the degree with other competing NFT drops that may be off-brand. We have besides lowered the exploiter experience barriers for newcomers to NFTs. While many of the other platforms require using cryptocurrency, we besides offer the ability to purchase NFTs with accredit and debit cards .
In the near future, we intend to form extra partnerships with extra mainstream influencers and iconic brands to might their NFT commerce initiatives. We believe there is a huge untapped market for monetizing premium, limited-edition on-line and offline goods and services through our latest NFT intersection upgrades to the Origin Platform .
Self-serve NFT sale
today, Origin Story is a curated experience for our collectors and is an invite-only platform. For creators, we build custom storefronts that oftentimes require several weeks of mastermind work. While this allows us to hold record-breaking NFT sales with lead creators, the death thing we want to do in the long-run is to become the gatekeepers of which creators can launch NFT drops .
We have thousands of inbound requests from creators of all sizes, from verticals like music, artwork, sports, retail, and many others. We are excited to open Origin Story to all interest creators by the second half of 2021 with the launch of our self-serve WYSIWYG ( what you see is what you get ) editor program .
Creators will be able to create Origin accounts, upload audio and ocular assets for their NFTs and customized websites, and agenda NFT sales using a variety of different sale formas ( e.g. 1 of 1 auctions, leaderboard auctions, open editions, limited editions, and more ). Origin Story will democratize NFT creation and sales. importantly, Origin will share in the proceeds of NFT sales conducted by our creators, creating substantial revenue-generating possibilities for us .
Site-specific and Aggregator NFT Marketplaces
secondary market sales are critical for true price discovery of NFTs and the festering of this nascent market. We intend to build a market platform for secondary market sales of all NFTs launched on Origin Story a well NFTs from early platforms and marketplaces. The Origin team already has over 4 years of know building peer-to-peer market technology, and we are the leaders in this field. The original Origin Marketplace was launched on Ethereum mainnet in 2018 and supported tens of thousands of users and listings for a diverseness of goods and services. Origin amply intends on being the NFT marketplace leader and capturing NFT sales from our collaborator creators angstrom well as creators who launch independently or with another platform .
Our market product will allow for both site-specific marketplaces and a larger Origin-branded collector marketplace .
With the erstwhile implementation, secondary marketplaces can be run and curated by the NFT creators themselves. Again, these marketplaces can live on the individual creators ’ websites. Gallerists and artists have always cared deeply about presentation and curation as it can have a hard shock on the price of their assets. In another scenario, one can imagine exceed brands like Marvel or the NFL wanting to showcase junior-grade sales of their NFTs in more brand-centric experiences. Letting creators control every view of their NFT from creation to secondary market sale is a key differentiator to Origin ’ s NFT chopine over more generic NFT marketplaces. Fans of specific creators and artists will besides appreciate going direct to the source alternatively of browsing through unrelated listings on a generalize marketplace .
With the Origin-branded market, we will aggregate all our NFT sales on a single web site that makes it easy for buyers to discover newfangled creators. Site-specific marketplace NFTs will be aggregated to the Origin-branded marketplace. In the future, we will allow for creators like brands and celebrities to promote their NFTs on the Origin-branded marketplace. This is alike to how Google AdWords works and presents a potentially lucrative extra occupation model for Origin .
Creators are excited about custom NFT marketplaces because they allow them to better monetize their creations over a longer time period of time. Artists will experience increase value capture from programmatic transaction fees attached to NFTs they create. This means that any junior-grade marketplace sales will generate gross for NFT creators in perpetuity. previously, musical artists would only capture a little parcel of this measure through royalties and finely artists would capture no value from secondary coil sales .
not only are junior-grade market sales authoritative for price discovery, gross sharing from these sales will be one of the key tax income drivers for Origin Story. Far more bulk is done on the secondary marketplace than during initial sales and we expect record-breaking trades in the future. Origin intends to build a fully-featured NFT platform and ecosystem. We will develop the best throughout NFT platform in the distance and capture massive respect for our users, NFT creator partners, and our token holders .
OGN buybacks and other token utilities
We may conduct extra OGN buybacks over time using gross generated from the diverse income streams that are being developed across Origin Story ( e.g. primary sales proceeds, secondary coil sales gross parcel, paid forwarding by creators ). We conducted our first gear redemption at the end of May 2021 for $ 1.3M worth of OGN .
We besides anticipate tightly coupling OGN into our self-serve and marketplace products. For model, we intend to experiment with allowing creators to stake OGN for increased gross partake. There may besides be certain NFT sales that will be structured around buyers using OGN for particular bonuses and perks ( e.g. require OGN bet on or requital for drawing/raffle sales ). It is besides anticipated that OGN will be the native currentness for paid promotion on our collector market .
Mainstream NFTs
Origin ’ sulfur NFTs are presently Ethereum ERC-721 NFTs. While this efficaciously targets the early adoptive parent residential district that has developed around Ethereum, we recognize that the mint costs of nowadays ’ mho Ethereum NFTs, frequently $ 25 to $ 50+ per NFT, make these NFTs prohibitively expensive for more mainstream adoption. In order to bring NFTs to the hundreds of millions of consumers, NFTs must be cheaper to mint. To tackle this volume-centric strategy, Origin will begin integrations with option blockchains and besides explore Ethereum layer 2 solutions in Q3. Our goal is to enable creators to offer NFTs at $ 10 to $ 20 that can be purchased by their mainstream audiences in seconds with credit and debit cards. This will be specially important for NFT manipulation cases related to trade, ticketing, and collectibles .

The Origin Dollar (OUSD)

In 1999, Yu Pan, one of PayPal ’ s original co-founders conceived of creating “ the raw world currency ”, accomplished with interest concede strategies and debit cards without having to connect to traditional banking systems. respective pivots and an eBay learning by and by, PayPal dropped its ambitions in this area .
Two decades later, Yu Pan, Origin ’ s founding engineer, and the rest of the Origin team have last launched this new populace currency .
The Origin Dollar is the first cryptocurrency stablecoin that mechanically and passively provides users with the opportunity to earn yield while sitting in cryptocurrency wallets. Users do not need to stake/unstake or provide liquid to earn yields across underlying DeFi protocols. While past performance does not guarantee future results, to date OUSD has generated, through the implicit in DeFi protocols, annualized yields between 20 % and 150 % at any given prison term .
OUSD is a superior DeFi product for the masses. By removing all the complexities normally associated with gain fees through lend or supplying fluidity to automated market makers ( AMMs ), OUSD is highly accessible to users who are new to cryptocurrency technologies. nowadays, users need only to purchase OUSD on centralize exchanges or decentralized swap sites like Uniswap/Sushiswap to begin getting DeFi yield exposure immediately. alternatively, users can mint OUSD with their existing stablecoins ( DAI, USDT, USDC presently ) on the OUSD DApp.

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stream APYs and circulating provide are published transparently on the OUSD splashboard .
With OUSD, there ’ s no need to unwind complicate positions when you want to spend your OUSD. You can transfer it freely without having to pay gas to unlock expendable capital. In accession, OUSD gives you the ability to utilize a basket of leading DeFi opportunities with none of the hassles. The OUSD smart contracts deploy your underlie capital to a diversified set of yield-earning strategies, automatically rebalancing over clock time to achieve strong yields while diversifying risk. Earnings mechanically accrue in your wallet and compound endlessly while you hold OUSD. Again, no stake or lockups are required, making your OUSD as slowly to transfer as any other ERC-20 token. OUSD besides serves as an ideal unit of measurement of account. DeFi participants no longer need complicated spreadsheets to calculate their earnings as they can easily see their constantly updated OUSD balances in real-time .
output strategies
OUSD uses two high-level strategies for generating yield — lending and market make .
lend :
DeFi lend platforms let users lend and borrow crypto assets without any middlemen. Both lenders and borrowers get more rate from their crypto. Lenders earn interest, while borrowers deposit crypto as collateral to gain access to credit without traditional banking headaches. DeFi lending platforms presently provide far superior returns for lenders than are broadly available in the traditional markets .
OUSD integrates with DeFi lend platforms that provide over-collateralized loans. Over-collateralization, combined with bright rules around liquidations, provide a fair level of security for lenders. Aave besides additionally secures their lend pools with AAVE tokens respectively, far lower gamble .
OUSD integrates with two leading lending providers, Compound and Aave, that have a testify chase criminal record audited smart contracts, and have successfully lend hundreds of millions of dollars without issue .
market cook :
automated market makers ( AMMs ) have cursorily risen as the choose form of decentralize substitution on the Ethereum network. This is in function due to the difficulty of supporting ordering bible DEXes on Ethereum 1.0 that can rival the instant and low-slippage experiences on centralize exchanges. Further, AMMs like Uniswap are relatively user-friendly and gas-efficient to use .
AMMs can only enable raw markets when liquid providers supply liquid ( e.g. multiple tokens for given trade pairs or pools ). In return for providing liquid, liquidity providers are rewarded with trade fees when other users swap tokens. For example, when traders swap USDT for USDC on Uniswap, they are presently charged 0.3 % on top of flatulence fees. These fees are distributed pro-rata to liquid providers on the USDT-USDC copulate based on the percentage of entire liquid that they have provided .
The OUSD protocol routes USDT, USDC, and DAI to highly-performing liquid pools as determined by deal volume and rewards tokens ( e.g. Balancer rewards BAL tokens to liquidity providers ). Yields are then passed on to OUSD holders. The OUSD bright contract is presently integrated with Curve, and may be integrated with Uniswap, Sushiswap, and Balancer in the future .
In addition to collecting interest from lending and fees from market make, we intend to automatically claim and convert the bonus incentives that are being distributed by many of the DeFi protocols. For example, Compound gives away COMP tokens, Balancer gives away BAL tokens, and Curve gives away CRV tokens. These bonus rewards will be regularly converted into stablecoins, deployed in the market, and distributed to OUSD holders in the form of extra give .
OUSD is able to generate higher yields than competing protocols due to a combination of crucial design decisions that amplify the rewards that are returned to OUSD holders :

  • Exit fees are returned to the pool, rewarding long term holders
  • Price oracles favor the collective over the individual, again rewarding long term holders
  • Smart contracts must manually opt-in to earn yield. This allows the protocol to put more capital to work than would be otherwise possible.
  • OUSD smart contracts allow users to balance risk and reward more effectively than deploying capital in any single underlying strategy.

Origin ‘s function in OUSD
OUSD is meant to be a tool that gives users easy and passive access to DeFi exposure. Origin ’ randomness role in the growth of OUSD is ministerial rather than managerial. This means rather of actively managing OUSD as a business or actively managing the funds in the OUSD vault, Origin maintains the OUSD smart contracts as developers in order to keep the protocol functional and keep off catastrophic losses or failures for users. origin does not intend to make strategic decisions to allocate funds from the OUSD vault. Funds in the OUSD vault are automatically deployed to the largest and most common DeFi protocols including Compound, Aave, and Curve, as outlined above. OUSD is a decentralized protocol on the Ethereum blockchain without active management. Funds are allocated by OUSD fresh contracts, not Origin employees, and Origin developers chose the aforesaid DeFi protocols for their guard and ubiquity in DeFi preferably than to seek maximal yields or profits. The OUSD protocol is 100 % open-source and we are fast tracking OUSD to be governed in a wholly decentralize fashion .
Readers can learn more about the technical details of OUSD on our documentation .
Benefits of OUSD
Mainstream cryptocurrency users now have the equivalent of a high-yield keep open account mechanically built into their Ethereum wallets whenever they are holding OUSD. This increases DeFi ’ s addressable drug user base from tens to hundreds of thousands of sophisticate users to tens of millions of users immediately. By comparison, Uniswap, the most wide used DeFi product to date has only interacted with approximately 250k Ethereum wallets since its origin .
Because OUSD makes it slowly for consumers to switch between spend and savings modality, it can besides become the ideal average of commute. Today, many merchants other than those dealing in black or grey markets do not have many incentives to accept cryptocurrencies. Because most consumers presently use credit rating cards and mobile payments, merchants are forced to accept payments predominantly with these methods. In the process, they are often charged a 2.90 % citation poster processing fee, with other payment intermediaries ( e.g. merchant bankers and interchange networks ) besides increasing the monetary value of doing business .
For merchants that have traditionally been doubting of receiving cryptocurrency payments, being able to accept a yield-bearing stablecoin that beats traditional savings accounts and instantaneously earn succumb is a herculean incentive. alternatively of losing money on each sale, they are immediately adding capital to their merchant accounts that compounds instantaneously, giving them more operate capital over time. For merchants that oftentimes face cash flow management and inventory issues, being able to accept a yield-bearing form of requital is highly compelling .
OUSD creates the incentives for merchants to not only accept, but promote the custom of cryptocurrencies in their businesses. As more users hold and make purchases with OUSD, more merchants will similarly accept OUSD. These powerful network effects have the potential to gradually replace the requital rails for both on-line and offline commerce .
In the short-run, OUSD ’ s prey audience encompasses the millions of cryptocurrency users in the populace that are not even invested in DeFi. An even larger opportunity lies in targeting the hundreds of millions of users that are presently using traditional peer-to-peer and merchant payment systems .
nowadays, PayPal boasts over 305M consumers and 22M merchants and processes over $ 200B of payments in a single quarter. Our aspirations are to begin penetrating that customer base with OUSD and future payments applications built on peak of the OUSD protocol in the approaching year .
future products
We imagine a better future for on-line and offline payments that uses OUSD as the underlie requital rails. Below, we outline our imagination for what we ‘d like to see built on clear of the OUSD protocol. We besides encourage our large community of supporters and open-source developers to build extra compel products to bring DeFi and cryptocurrency payments to the masses .
Venmo meets high-yield savings and a debit card
nowadays peer-to-peer mobile payments account for trillions of dollars in transaction volume. In the United States, Venmo and Square Cash dominate. In China, cryptocurrency ’ randomness largest market by trading bulk, Wechat and Alipay have near monopolistic holds on consumers and merchants. These simple, centralize payment apps are used by customers paying merchants and by friends and family transferring money to each other. Furthermore, in many markets, the US and Europe specially, bank cards are still the go-to direction to spend money for on-line and offline transactions. Credit wag companies, payment processors, and banks dominate this market and there are a variety of companies such as PayPal that assist merchants and consumers in using their cards on-line .
The billions of users using these existing requital methods have very little incentive to adopt cryptocurrency payments ascribable to increased friction and miss of network effects .
We believe a newfangled peer-to-peer payment app with an consort debit tease built on clear of the OUSD protocol can disrupt incumbents. today, Venmo users shuffle money between their Venmo accounts and their match accounts and credit rating cards. In the case of the former, money sitting in Venmo or checking accounts doesn ’ thymine earn any interest. Venmo balances that are funded by credit cards are even worse as there are fees charged by multiple intermediaries. In the late shell, concern earned by users is normally negligible, particularly when taking into history inflation. Cash back or rewards programs can offer drug user incentives but high pastime rates for missing payments are a strong disincentive to users .
Tomorrow ’ s peer-to-peer mobile requital lotion powered by OUSD will introduce the cause of death feature of double-digit yields. Our adaptation of Venmo will combine the ease of peer-to-peer payments with a high-yield savings account that beats traditional savings accounts by a factor of 10 to 100x .
The OUSD payment app will be built with a centralized mobile app and APIs to minimize user friction for mainstream users. Users will be able to deposit USD and/or other decree currencies to the app and enjoy the seamless user experiences of centralize applications. however, on the backend, these fiat deposits will be used to mint OUSD. New users will hold their balances in OUSD in Origin custodial wallets without needing to understand cryptocurrencies. They will simply be able to earn industry-leading yields when they are not spending. Again, your OUSD is always earning & ready to be spent or transferred at the lapp time .
The viral effects of the future OUSD payment app can not be overstated. Payment apps are by nature already viral, with users onboarding their friends and family in club to transact with them, establishing herculean network effects. Merchants quickly adopt the payment services that attract the most users. By adding in the ability to earn yield the identical instant that any new referred exploiter accepts funds from a referring user, we believe the viral coefficient for existing users referring raw users will be multiples higher than ever seen before in a traditional payments application .
The OUSD debit card will be tied to the future OUSD payment app and will allow users to spend down their on-app OUSD poise. Whenever users want to use their OUSD, their OUSD will be converted to USD via Visa ’ mho substitute network and be immediately accepted by 40 million merchants all over the world. Merchants will receive USD and need not know that OUSD was used as the underlying original currency to might the transaction. Again, when users ’ OUSD is not being spent, it will mechanically accumulate staggering yields that should be superior to any cash bank or credit circuit board rewards broadcast in being .
Although we plan on launching with hosted or managed wallets, we believe that users should be in control of their own funds if they do not want to use do wallets. While the avail that we build will be centralized at the lotion and middleware layer, the core protocol is decentralized. Users will be able to eject from the managed wallet at any indicate in time to plainly hold their OUSD in their own self-managed wallets within the same app. We imagine that more and more users will gradually migrate from managed wallets to self-hosted wallets over time as they become educated about the benefits of underlying protocol .
OUSD payments on traditional platforms
Getting on-line and offline merchants to accept payments that are powered by OUSD rails is a monumental step. however, further down the road, an even more ambitious objective is to get merchants to accept OUSD directly .
The incentives to accept OUSD as a merchant over traditional accredit cards or mobile payments is extremely compel. Merchants can earn double-digit yields upon the sales of goods and services versus getting taxed with multiple payment fees .
thankfully, both Shopify and Woo Commerce have mature developer platforms and APIs. We intend to build applications on these existing platforms that allow merchants to accept OUSD directly from customers that want to pay with OUSD. These developer plugins are relatively elementary to build, and there are many existing examples of working payment alternatives .
For example, the Shopify app store presently already offers Coinbase Commerce, Bitpay, and GoCoin. We will release an OUSD payment app for merchants in the come future .
Cross-chain OUSD
Given the late scend in both the price of ETH and the use of the Ethereum network, gas fees are becoming increasingly prohibitive and a major deterrent for getting the kind of retail borrowing that we want .
Ethereum is by far the most dominant level 1 range when it comes to DeFi activity and sum value locked ( TVL ) today. however, as early layer 1 chains gain DeFi adoption, it is our purpose to make OUSD accessible on other chains like Binance Smart Chain, Solana, Cosmos, and Polkadot which offer faster transactions and lower gas costs .
All of the return for OUSD will continue to be generated on the Ethereum chopine since that ’ mho where the huge majority of capital and earning opportunities exist nowadays. however, chain-specific versions of OUSD will be mintable by anyone who locks up OUSD in the cross-chain bridge. For model, you could lock 100 OUSD in the Solana bridge in order to generate 100 sOUSD which would be freely assignable within the Solana ecosystem. The original OUSD would stay locked in a bright sign where it would continue earning give. Inside Solana, the circulating sOUSD tokens would rebase in lockstep with the OUSD that was locked in the smart compress. Anyone who wishes to exit would be able to redeem their sOUSD for the in the first place locked capital plus any yield that was generated while they were holding it .

The Origin Token (OGN)

The Origin Token ( OGN ) is the administration and measure accumulation nominal for the integral Origin Platform and cortege of products .
Decentralized government for the OUSD protocol will happen first gear. Following the successful migration of making OUSD community-owned, we will begin the progressive decentralization of Origin ‘s products a well .
today, the OUSD protocol is already presently undergoing a progressive path to full decentralization. We ’ ve outlined four phases to full decentralization and are presently in phase 2 .
OGN token holders will be able to create and vote on proposals to govern the fundamental 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

note that decentralized administration privileges will not apply to the centralize applications like the peer-to-peer payments intersection or debit menu to be built on OUSD in the near-term. however, the underlying protocol will be in full decentralized before the end of 2021 .
Value accumulation
OGN holders will benefit directly from any protocol revenues and fees generated from products built on the Origin Platform. This includes on-chain tax income from OUSD vitamin a well as likely off-chain tax income sources from OUSD or our commerce products in the future .
presently, 10 % of DeFi yields generated from OUSD are collected as a protocol service fee. These on-chain fees are being used to buy back OGN on the market, generating consistent bribe pressure for OUSD ’ s government keepsake.

Through decentralized government, the community will be able to adjust service fee settings american samoa well as other measure accumulation parameters .

  • For example, the community may vote for variable service fees based on OUSD yield benchmarks (e.g. higher service fees when OUSD is returning 50%%+ yields vs. 20%%+ yields).
  • Other community-proposed models may include directing these service fees to OGN holders directly as dividends to OGN holders.
  • Additional models may reward larger fees to OGN holders that stake their tokens (e.g. OGN holders that stake for 3 months will receive more rewards than those that stake for 1 month)

OGN holders are therefore incentivized to promote OUSD. As OUSD circulating supply increases, service fees generated will besides increase, directly benefiting OGN holders financially. The converse is besides true. OUSD holders are incentivized to be OGN holders, so they can participate actively in the administration of the protocol. This creates a strong flywheel effect between Origin ’ s two tokens .
Since it is our intention to build powerful applications on top of the OUSD protocol like the newly peer-to-peer payments intersection and debit card offer, we will besides be able to create fresh monetization opportunities with these applications. For exercise, we may take a modest percentage of OUSD yields as gross to cover the costs of running the centralize infrastructure to power these experiences. Any profits that are generated off-chain can similarly be reinvested into the OGN redemption broadcast or other fee distribution options mentioned above .

source : https://ontopwiki.com
Category : Finance

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