Origin Protocol (OGN)

Decentralized Marketplaces and E-commerce

Origin Protocol enables developers and businesses to build decentralized peer-to-peer marketplaces and e-commerce applications. It supports various markets including traditional goods, NFTs, rentals, and gig economy services. The platform uses blockchain and smart contracts to facilitate secure, transparent transactions without intermediaries.

Token Utility and Governance

The native token OGN is used to pay transaction fees within the Origin ecosystem. OGN holders can stake their tokens to earn rewards, receive voting power, and participate in governance decisions that shape the protocol’s future. Fees generated by the platform are partly distributed to OGN stakers, creating a revenue stream.

DeFi Yield Products

Origin Protocol offers yield-generating tokens like OETH (Origin Ether) and OUSD (Origin Dollar). OETH is a liquid staking token backed by Ether and ETH liquid staking tokens, allowing users to earn compounded yields. OUSD is a stablecoin that automatically earns yield without requiring staking or lockups. These products integrate with DeFi platforms to optimize returns.

NFT Platform and Launchpad

Origin Protocol provides tools for NFT creation, auctions, and token-gated access. Its NFT Launchpad simplifies issuing NFTs and gives creators more control. The platform has hosted notable NFT drops and supports multiple blockchain scaling solutions.

Developer Tools and Ecosystem

Origin offers open-source standards, APIs, and libraries to help developers quickly build customized decentralized marketplaces. The protocol encourages a rich ecosystem of vertical use cases like vacation rentals, freelance services, and specialized marketplaces, all built on shared data and standards.

Advantages

• Origin Protocol enables peer-to-peer marketplaces without middlemen, reducing fees and increasing transparency.
• It offers a suite of DeFi products like Origin Dollar (OUSD) and Origin Ether (OETH) that generate yield automatically without lockups or staking requirements.
• The platform supports decentralized governance where OGN token holders can vote on proposals and earn revenue shares.
• Origin Protocol is built on Ethereum and IPFS, making it censorship-resistant and secure.
• It provides easy-to-use tools and dashboards that simplify DeFi and NFT interactions for both new and experienced users.
• The protocol encourages open-source development and third-party applications, fostering innovation and flexibility.
• Backed by experienced entrepreneurs and notable investors, adding credibility to the project.

Disadvantages

• The platform faces competition from large, established marketplaces and other blockchain projects with similar goals.
• Some features require significant resources, and the feasibility of all proposed functions is uncertain.
• The commercial viability and clear revenue model of the platform are not fully transparent.
• There have been concerns about leadership and vision, with some community members noting outdated content and slow progress.
• Users may be penalized for falsely challenging listings, which could reduce platform attractiveness.

Overall, Origin Protocol offers innovative decentralized marketplace and DeFi solutions with strong governance and yield features, but it also faces challenges in competition, resource demands, and community confidence.

Founders

Origin Protocol was co-founded by Matthew Liu and Josh Fraser in 2017.

Background of Founders

• Josh Fraser is a serial entrepreneur who started coding at age 10 and has co-founded several venture-backed companies before Origin Protocol.
• Matthew Liu is a Stanford engineering alumnus with experience in product and engineering from YouTube.

Team Experience

The team includes professionals with backgrounds from major tech companies like PayPal, YouTube, Google, and Dropbox. The founding engineer is Yu Pan, a former co-founder of PayPal and ex-Google executive.

Major Investors

Origin Protocol has raised around $38.1 million from a wide range of investors. Some notable investors include Pantera Capital (lead investor), Foundation Capital, Blocktower, Chain Capital (Shanghai), Cyber.Fund, KBW Ventures, Nodex Capital, Kenetic Capital, Hashed, DHVC, and 11:11 Media.

Individual Investors

Prominent individuals who have invested in Origin Protocol include Steve Chen (founder of YouTube), Alexis Ohanian (co-founder of Reddit), Garry Tan (partner at Y Combinator), and Paris Hilton (lead investor in a recent funding round).

Investment Rounds

Origin Protocol has completed multiple funding rounds including a $3 million seed round in 2017 led by Pantera Capital, a $28.4 million Series A round in 2018, and other rounds involving over 55 investors.

Investor Diversity

The project has attracted over 800 investors globally, including venture capitalists and cryptocurrency funds from various countries such as the United States, China, Korea, Russia, India, New Zealand, and Slovenia.

Halal Status of Origin Protocol

• Halal Rating: Yes, Origin Protocol is considered halal.
• Reason: Origin Protocol has a "comfortable" halal rating due to its clear utility in decentralized e-commerce, NFT platforms, and DeFi products like Origin Dollar (OUSD). The OGN token is used for governance, staking, and incentives within the ecosystem, which aligns with permissible activities in Islamic finance. There is no indication of involvement in prohibited activities such as interest (riba) or gambling.