ORIGYN introduces the next evolution of its governance and tokenomics model with the launch of ORIGYN Tokenomics 3.0.

This latest advancement was designed to enhance the longevity of the #ORIGYN Protocol, benefit #OGY $ICP token holders globally, and support the foundation's mission: to protect the most valuable .

Since the launch of the OGY utility token in October 2021, ORIGYN tokenomics has evolved to meet the needs of the ORIGYN ecosystem and its underlying technology. From version 1.0 to 3.0, this progression was designed with OGY token holders in mind at every step.

Where we have been and where we are going

Tokenomics 1.0:

  • Allowed OGY holders to participate in the governance of the ORIGYN ecosystem by having OGY vote on proposals.

  • 10 billion OGY were minted at genesis to boost the ORIGYN protocol and ecosystem.

  • Combined inflationary and deflationary mechanisms: inflationary to mint new OGY tokens to participate in governance and deflationary to burn OGY obtained as income.

Tokenomics 2.0:

  • Reduced the reward rate for staked OGY tokens and removed vesting rewards to reduce the minting of new tokens and stabilize inflation.

  • Burned 197 million OGY tokens in the progression towards a deflationary model.

Tokenomics 3.0:

How does ORIGYN best protect existing OGY token holders? Ensure the longevity of the protocol? Recognize the first defenders of the ecosystem?

The formation of ORIGYN Tokenomics 3.0 is the foundation's response to these questions, as well as its effort to counter the challenges of the macroeconomic downturn and grow its community of governing and engaged token holders.

Tokenomics 3.0 will include the following actions:

  1. Implement a deflationary model. With ORIGYN Tokenomics 3.0, ORIGYN stops minting new OGY tokens. Furthermore, the maximum supply of OGY will continue to decrease as the revenue acquired by OGY will be burned periodically.

  2. Burning of OGY through the income generated. We created the ORIGYN Treasury Account (OTA) to hold all ORIGYN income. This includes certificate minting fees, transaction fees, and donations made directly to this account. The ORIGYN Foundation will submit proposals through OGY governance on what to do with tokens held on the OTA (i.e. token burning).

  3. Using existing tokens to stake rewards. ORIGYN will contribute 1 billion OGY to an ORIGYN Rewards Account (ORA) for the benefit of staked and voting holders. The reward fund consists of 250 million OGY in its first year and will be halved every two years to incentivize and reward early and long-term contributors to the ecosystem. The new betting algorithm was implemented on 09/20/2023. Holders who previously staked their OGY will be released for a two-week grace period to stake their OGY again and benefit from the ORA. The staking reward amount will be as follows:

In addition, there will be the following multiplier:

4. Release OGY holders from the acquisition of rights. To further promote ORIGYN's new deflationary model and reward early supporters, all existing token holders are released from their current vesting schedules. This includes any and all purchased rewards earned during the initial ORIGYN Tokenomics 1.0. This does NOT apply to ORIGYN team members and advisors. By removing vesting restrictions, OGY holders can now stake their OGY and participate in governance to receive rewards.

5. Promote decentralization. ORIGYN will take the following measures to increase the number of OGY holders governing the protocol:

  • Attracting new OGY holders by connecting with other platforms and allowing interoperability between OGY and ICP tokens, Bitcoin and Ethereum.

  • Collaboration with key native IC partners, including Shiku, YUMI, and Hot or Not, for giveaways, airdrops, and other OGY token-based projects.

6. Support developers: ORIGYN will contribute 100 million OGY to an ORIGYN Development Fund for developers to create open source code for the ORIGYN Protocol.

7. Improve Liquidity: Liquidity is crucial to ensure a smooth market for OGY. By prioritizing liquidity, ORIGYN aims to prevent price manipulation and make it easier for users to buy and sell tokens whenever they want as we work to list on more CEXs and DEXs.

Much more on the way

This is just the beginning of the advancements, partnerships and products to come this year at ORIGYN. ORIGYN Tokenomics 3.0 also launches alongside the new and improved OGY Dashboard

This dashboard provides token holders with full transparency about OGY and its token economy, improves staking and governance functionality, and provides holders with important information and data about OGY. For details on how to use the OGY dashboard and more information about ORIGYN, visit our GitBook.

We are confident that these changes will help ensure the long-term success of ORIGYN, as well as that of the OGY token.