Origin Protocol’s OGN and OGV Tokens Will Be Merged to Improve Ethereum Liquid Staking
Origin Protocol token holders have voted to merge the protocol’s lesser known token Origin DeFi Governance “OGV” with its native decentralized finance (DeFi) Ethereum token OGN.
The OGN protocol is backed by Reddit co-founder and VC investor Alexis Ohanian, Taiwanese-born American YouTube co-founder Steve Chen, and Y Combinator president Garry Tan.
In an announcement, Origin Protocol said the move to integrate the tokens will improve Ethereum liquid staking. This allows anyone to share in the rewards of staking without having to maintain complex staking infrastructure.
“The proposal aims to unify Origin Protocol under a single token,” Matt Liu, co-founder of Origin Protocol told Cryptonews. “If both DAOs align on the merger, OGN will become the cornerstone of Origin’s ecosystem, fostering alignment among the community, investors, and core team for improved value creation,” said Liu.
“At a market capitalization of less than $15 million, the team and its investors feel that acquiring OGV while undervalued will serve as a value-creating event,” said Origin Protocol in a press release.
Origin Protocol is a blockchain platform designed to enable decentralized marketplaces and sharing economies and claims to cut out the middleman. It aims to disrupt traditional sharing economy companies like Airbnb and Uber by allowing buyers and sellers to interact directly without the need for intermediaries.
The platform utilizes smart contracts to facilitate transactions, reducing fees and increasing transparency. It also allows developers to build decentralized applications (dApps) on top of its infrastructure.
A token merger refers to the consolidation of two or more tokens into a single token. This process usually involves
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