Every month, the Origin team publishes a monthly update to our token holders and broader community. Welcome to the May 2020 edition. We are eager to hear feedback and suggestions from our community. Please email [email protected] for support requests and [email protected] for general inquiries/comments.
In May, the team has been heads down laying the foundation for several exciting initiatives that will be announced in the next quarter.
On the technology side, we’ve been focused on iterating quickly on our products based on customer feedback:
We’re working hard on making it easier to launch new partner stores on the Dshop platform. We’ve re-tooled our backend infrastructure to simplify the deployment process. This month we also launched the Contentos and Solana Dshops. We’re looking forward to deeper partnerships with both companies going forward.
On Origin Deals, we’ve been learning a lot from our early Beta users. Some of our most passionate early adopters have made 30+ transactions already since we opened our doors to select users in mid-April, locking up Origin Tokens (OGN) every single time. We’ve been working on new features to further engage these power users as we get closer to opening up the product to the general public.
Regarding token economics, our current circulating supply is at 58.82M, or 30% lower than our expected circulating supply of 84.55M. This is over 25M tokens fewer than was originally modeled at network launch in our Binance Research Report. We expect that circulating supply will continue to grow at a slower-than-modeled pace throughout this year.
This month, we launched two new third-party Dshops for Contentos and Solana. With Contentos, we’re particularly excited about working with them in the coming months to launch decentralized stores for individual content creators in the Contentos network. Contentos creators will be able to monetize their channels at zero-fees through the partnership.
In addition, we completed several Dshop infrastructure updates this month. To date, launching each store has been a very involved process. Each new Dshop had to be manually provisioned by members of our engineering team before being deployed to IPFS. This created a bit of a backlog in launching third-party parties, slowing down our customer and partner acquisition processes.
However, we will soon be moving to a new model that will allow for rapid creation of individual Dshop instances. This will greatly accelerate our ability to onboard new partners that have already signed up to launch decentralized e-commerce stores.
Expect additional updates in this area in the coming weeks. If you’re interested in launching your own decentralized store, please get in touch and request a demo.
Elsewhere, we’ve seen exciting early data from the Origin Deals Beta. Here are some of the early customer testimonials we’ve received.
“…cool, group orders are looking good. very smooth experience.” — Jagdish (35 purchases)
“Origin is the most used token for me. It provides a real utility instead of just speculating on the price. I think this is a real use case for tokens besides DeFi.” — HT (32 purchases)
“It’s either I use Amazon or Origin, but Origin saves me 20%. It’s a no brainer.” — Mike (18 purchases)
We’ve re-launched our Origin Deals browser extension and expect this to further improve the conversion funnel. Previously, Origin Deals customers could only purchase one item at a time by shopping on the Origin Deals website. This was an awkward experience. Now, we’re letting users do most of their work on Amazon, shopping as they normally would and adding multiple products to their carts.
They are then able to check out on Origin Deals and save up to 20% by locking up OGN. This simplifies the purchase process, and we are already seeing positive feedback and increased OGN lock-up amounts from this small but meaningful update.
Our goal with Origin Deals is to create a great product for our customers while creating the right incentives for using and locking up OGN. At the same time, we’re working to make OGN more accessible to the masses across multiple geographic markets. OGN is currently listed on over a dozen exchanges, including Binance, Upbit, Bittrex Global, Uniswap, and Kyber.
June is already looking to be very busy for the entire team. We already have multiple exciting releases slated for the month. Stay tuned.
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