Improved User Experience: Origin is one of the first projects to implement meta-transactions on Ethereum, which aims to save users from paying Ethereum gas fees for all transactions, and therefore simplifying the user experience.
User & Developer Traction: As of writing, over 30,000 Ethereum wallets have registered on the marketplace platform with approximately 2,000 transactions of goods and services (e.g., homeshare rentals, e-commerce sales). More than 170 developers have contributed to the project on GitHub, and the team has also gathered more than 50 volunteer translators who have made the Origin dApp available in 20 languages.
Developer Platform: Origin provides open source protocols, developer libraries, marketplace creator tools, and end-user applications to improve the user experience of all platform participants.
Team & Investors: The project is led by serial entrepreneurs and seasoned team members from PayPal, YouTube, Google, DropBox, etc., and has received backing from top investors such as Pantera Capital and Foundation Capital, as well as from individuals like Steve Chen, the founder of YouTube.
WHAT IS ORIGIN PROTOCOL?
Origin Protocol provides a platform for building peer-to-peer marketplaces and e-commerce applications. Users can buy or sell goods and services on these marketplaces, and developers can create their own applications powered by the Origin blockchain. The Origin token (“OGN”) is used as an incentive, payment, and governance token in the Origin ecosystem.
Origin’s mission is to enable true peer-to-peer commerce.
Project Value Proposition
Lower Fees: Buyers and sellers can save more when middlemen are removed.
Better Incentives: Anyone can own a stake in the network by contributing to its growth by referring new users, driving transactions, promoting listings, and building applications.
Increased Access: Markets are accessible to even the unbanked population.
Censorship Resilience: Peer-to-peer marketplaces are difficult to ban or shut down.
TOKEN SALE & ECONOMICS
Advisor Sale Allocation
4.38% of tokens
Advisor Sale Token Price
Advisor Sale Date (start to end)
Nov 10th 2017
Advisor Sale Amount Raised
Strategic Sale Allocation
23.75% of tokens
Strategic Sale Token Price
Strategic Sale Date
Jan 12th 2018 - Apr 9th 2018
Strategic Sale Amount Raised
CoinList Sale Allocation
4.84% of tokens
CoinList Sale Price
CoinList Sale Date
Jun 18th 2018 - July 31st 2018
CoinList Sale Amount Raised
Current Circulating Supply
23,862,410 OGN (2.39%)
Token Supply Distribution:
Advisor Sale tokens comprise 4.38% of the total token supply.
Strategic Sale tokens comprise 23.75% of total token supply.
CoinList Sale tokens comprise 4.84% of the total token supply.
Team tokens comprise 20.24% of total token supply.
Advisor Grants tokens comprise 1.69% of total token supply.
Foundation Reserves tokens comprise 31.37% of total token supply.
Ecosystem Growth Funds tokens comprise 12.99% of total token supply.
Long-term Partnerships tokens comprise 0.73% of total token supply.
Advisor Sale Overview
The Advisor Sale was conducted on Nov 10th 2017 at a rate of 0.0685 USD / OGN and raised a total of 3.00MM USD, selling 4.38% of total token supply. The Advisor Sale was conducted in USD only.
Strategic Sale Overview
The Strategic Sale was conducted from Jan 12th 2018 to Apr 9th 2018 for 0.1200 USD / OGN at an average rate of 1,002 USD = 1 ETH and 10,926 USD = 1 BTC, and raised a total of 25.51MM USD, for 23.75% of the total token supply. The Strategic Sale was conducted in ETH, BTC, and USD, and raised a total of 16,895 ETH, 167 BTC, and 9,752,331 USD.
CoinList Sale Overview
The CoinList Sale was conducted from Jun 18th 2018 to July 31st 2018 for 0.1364 USD / OGN at an average rate of 426 USD = 1 ETH and 5,890 USD = 1 BTC and raised a total of 6.60MM USD, for 4.84% of the total token supply. The CoinList Sale raised a total of 10,261 ETH, 89 BTC, and 1,704,604 USD.
Token Governance & Use of Funds
As of writing, Origin has used approximately 7.50MM USD (21.70%) of token sale funds according to the allocations below:
15.00% Professional Services & Legal
4.00% Office Rent
Origin utilizes Gnosis multisig wallets for secure storage of crypto assets, as well as sharing ownership of various smart contracts. Fiat reserves are stored in USD bank accounts.
OGN Token Release Schedule
The following chart represents the number and breakdown of all OGN tokens that are to be released into circulation on a monthly basis. The Foundation Reserves tokens will continue to be released after July 2024.
OGN Token Overview & Use Cases
OGN is the native utility token used to power the Origin platform, enable incentive systems, payments, and future governance mechanisms.
Rewards: Users are rewarded with OGN when earning cashback on purchases, verifying identities, promoting Origin on social media, and referring new users to the platform.
Commissions/Advertising: Sellers pay OGN commissions to application developers to promote their listings and gain higher visibility on marketplace and e-commerce applications to generate more sales.
Payments: Buyers can pay sellers with OGN in exchange for receiving goods and services.
Staking: The Origin team is currently researching and developing new staking models that will generate yields for token holders in exchange for powering and supporting other parts of the network.
Governance: The OGN token will also have governance functionalities in the future.
Onboard additional partners to peer-to-peer marketplace and e-commerce store creators
Enable off-chain payments to reduce buyer friction and increase network transaction volume
Launch additional marketplace and e-commerce applications on top of the Origin platform
Research and launch new staking and reward use cases for OGN targeted at end users, merchants, and affiliates, as well as infrastructure providers and developers
Upgrade self-serve marketplace and e-commerce store creators
Launch of new developer tools and APIs to enable more types of dApps
Enable governance features of the OGN token
Commercial Partnerships and Business Development Progress
Trips Community: Trips Community is an Italian homesharing company founded in 2011. Trips is building its marketplace application on the Origin platform.
ZoidPay: ZoidPay is a crypto payment platform whose flagship marketplace, ZoidShop, is powered by the Origin platform.
Hubris One: Hubris One is a cryptocurrency wallet which has built its e-commerce store using Origin’s marketplace creator tool.
TrustToken: TrustToken is a stablecoin issuer. TrueUSD and other stablecoins from TrustToken will be supported by Origin’s platform and marketplaces built on it. In addition, TrustToken’s e-commerce store will be powered by Origin.
MakerDAO: MakerDAO is a DeFi lending platform and the issuer of stablecoin DAI. DAI is supported by Origin’s platform and marketplaces.
Circle: Circle is the issuer of the USDC stablecoin. USDC will be supported by Origin’s platform and marketplaces.
imToken: imToken is a Ethereum wallet provider. The OGN token is supported by imToken; imtoken has also conducted a Chinese Singles Day partnership campaign on the Origin flagship marketplace app.
SLife: SLife is a Chinese marketplace company; Slife has conducted a Chinese Singles Day partnership campaign on the Origin flagship marketplace app.
GitCoin: GitCoin is a crowdfunding and freelancing developer platform. GitCoin is running its e-commerce store on the Origin platform.
CryptoMerch: CryptoMerch is a crypto swag and merchandise store built using Origin’s marketplace creator tool.
PeerArt: PeerArt is a P2P art marketplace built using Origin’s marketplace creator tool.
Bitberry: Bitberry is a Korea-based multi-purpose cryptocurrency wallet service run by RootOne. The OGN token is supported by Bitberry.
Paktor: Paktor is a dating app focusing on the Asian market. Paktor has conducted a cryptography-themed dating event with Origin in Singapore.
Co-founder of PriceSlash, Din, Torbit, and EventVue.
Co-founder of PriceSlash and Unicycle Labs, VP of Product at Bonobos and Qwiki. Former Product Manager at Google and Youtube.
Head of R&D
Co-founder of PayPal and Kiwi Crate, former Google and Affirm engineer. 1st employee at YouTube.
Former Tech Lead at Dropbox, Lead Engineer at Endorse.com, Engineering Manager at Youtube and Paypal
Technical cofounder of WellAttended.
Former UI Archilect at Palo Alto Networks, Lead Software Engineer at C3 Energy Network.
Founder of Dockyard and Serfdox.
Former CTO for Chess Raiders.
Former Senior Ethereum and IPFS Engineer at Lunyr.
Former freelance designer with several Fortune 500 and startup companies.
Former Engineer at Zoho.
Creator of ERC-725 Alliance, former Real-Estate Investor & Broker, and Advisor for HireGo and wiji.
Finance & Operations
Former Senior Accountant and Senior Consultant at KPMG.
Regional Manager, Korea
Former Curator at Art Center Nabi, and Docent at D Museum.
Regional Manager, Greater China
Former Global Digital Marketing Manager at Exness, Forex and Crypto Broker.
Regional Manager, Russia
B.S. in Economics.
OGN is currently not listed on any exchanges and cannot be transferred except via the Origin platform. OGN’s initial listing will be on Binance, at which point OGN will be unlocked and freely transferable.
Origin has 24 public repos. The vast majority of the core development activity took place in Origin’s monorepo.
The Origin platform enables buyers and sellers to connect across various applications and transact directly without intermediaries. Sellers post listings on and pay OGN commissions to the Origin flagship mobile application or third-party applications.
All relevant data will be written to the shared data layer on the Ethereum blockchain and IPFS network. The shared data layer enables multiple applications to surface seller listings across the distributed network. Applications and other affiliates (e.g., influencers, bloggers, publishers in the future) promote seller listings in order to capture OGN commissions.
The platform also utilizes multiple middleware and infrastructure services, including the Origin Node (a caching and search layer), the meta-transactions relayer (to subsidize gas fees and drive user adoption), and arbitration services. End users are incentivized to promote and drive transactions on the Origin network through Origin Rewards (from the Ecosystem Growth Funds).
Origin Product Offerings
Origin has built a suite of products to serve the peer-to-peer marketplace and e-commerce markets.
Origin’s products include, but are not limited to the following: