Origin Protocol is one of the best performing cryptocurrencies in the daily timeframe as the token gained by 40% during the past twenty-four hours and 35% in the past week. The cryptocurrency had been consolidating during October and started off the new month with a bullish note. The bulls have strengthened for the token as it is on a steep uptrend. The bullish momentum for OGN crypto can be attributed to some interesting developments going on in the network. At the time of writing, the cryptocurrency stands at a price level of $1.43. Origin Protocol stands at a market rank of #151.
What is Origin Protocol?
Origin Protocol is a decentralized marketplace which aims to connect buyers and sellers through a peer-to-peer network – utilizing the blockchain technology. The aim of the network is to solve the problems plaguing centralized online marketplaces. Some of the rampant issues on such marketplaces are lack of transparency, inefficiency and high fees. By eliminating the need of middlemen and intermediaries, the platform has made online buying and selling seamless and efficient.
Apart from being a marketplace for NFTs, Origin Protocol also aims on enabling users towards financial freedoms through its yield program. The network also utilizes a stablecoin OUSD and its staking program is designed to give participants much higher returns. The yields are also distributed fairly and justly among holders. Moreover, the protocol also increases collaboration and harmony in its community to ensure sustainable growth.
Why is OGN surging?
Origin Protocol’s goal is to make its stablecoin adopted by the masses and the team has a plan to help OUSD reach there. The first step is to increase the liquidity of OUSD in order to get it listed on centralized exchanges so it has more acceptance. The next step is to get the stablecoin integrated with other decentralized finance platforms to enable it access to a broader userbase. For this purpose, the team has taken the first initiative in the shape of its first liquidity mining campaign to be launched on the largest decentralized exchange in terms of total value locked, Curve.
As the NFT segment is one of the hottest, Origin Protocol has also been working on its NFT offering to remain up to date. The network wants to make its NFT marketplace and launchpad mainstream by enabling the masses to have access to it. Origin Story is the network’s first step towards democratizing the NFT space. The recent developments have caused the cryptocurrency to surge upwards.
