Origin’s ambitious new vision is coming closer to fruition with the successful passage of a key proposal detailing OGN’s post-merger tokenomics. At the close of voting on May 2nd, participants locked in a new conception for OGN, as both the sole governance and value-accrual token for Origin’s yield ecosystem.
Now that both the OGN and OGV communities have aligned on Origin’s new trajectory, the team is preparing to finalize migration mechanics for existing OGV holders. Stay tuned for further updates in coming weeks as we roll out the migration portal to finalize the OGN-OGV merger.
Following our migration audit scheduled for the week of May 13th, OGV will be able to be converted to OGN at a rate of 0.09317 OGN per OGV.
OGN’s updated tokenomics feature an overhauled staking model to boost usability and optionality for stakers.
Users can stake OGN to receive xOGN, representing economic and voting power over Origin Protocol. OGN can be staked for a duration of one month to a maximum of one year. Voting and economic power granted to stakers is relative to the amount of OGN staked and the chosen lock up duration.
Additionally, xOGN introduces the ability to exit stakes early in exchange for paying an early unstaking penalty. Users can now also add to existing stakes, allowing for far better capital management.
These mechanics complement OGN’s new value accrual structure, which channels a portion of protocol revenue from Origin’s products back to stakers. 50% of protocol revenue is distributed directly to stakers, while the remaining 50% funds the purchase of DAO-owned flywheel tokens to boost yield on Origin’s products.
The merger plays a pivotal role in Origin’s updated roadmap, which highlights bold new avenues for continued expansion.
Beyond OETH and OUSD, xOGN will also accrue value from the brand new Automated Redemption Manager (ARM), which offers LST holders seamless redemptions with zero slippage.
As the ecosystem grows to include more integrations across multiple blockchains, OGN stakers can look forward to even more revenue streams and governance opportunities.
Join the Origin discord and follow us on X to stay updated as migration rolls out!
