August was a very busy month for Origin. We announced our transition to decentralized governance with the launch of an OGN governance portal and opened up our weekly DeFi meetings to public participation. OUSD reached new milestones and our OUSD liquidity pool was added to the Curve Finance UI, placing Origin Dollar on the most important stablecoin exchange in DeFi. We also announced more major NFT drops that combine real-world culture with the Metaverse.
Origin Dollar hit an important milestone this month — $25 million in circulating supply. We have come a long way since our early struggles and I am very proud of how hard our team has worked to reach new heights. One of the ways in which we reached this important number is by increasing our outreach to the community. We opened up our weekly DeFi meetings to the public with this in mind. Anyone can join and participate in our meetings and learn about our engineering and business initiatives. Meetings take place every Monday at 11 AM PDT on our Discord channel. Our meeting notes are also public. We also launched an exclusive Telegram chat for OGN holders. Origin has built a tool that can detect and verify your OGN balance in your Web 3 wallet to regulate access to this chatroom.
We also launched the most significant upgrade to the OUSD Dapp since its launch with smart transaction routing. This means that users will automatically get the best price for OUSD whether it be from minting, buying on a DEX, or buying from OUSD Swap, a gas optimized swap contract. We are constantly looking for ways to make the Origin Dollar user experience easier and better.
Origin Dollar’s Curve factory liquidity pool was also added to the Curve Finance UI. This is a prerequisite in getting CRV gauge rewards for liquidity providers (LPs) of the OUSD pool. We will be utilizing OGN rewards to bribe (yes, you read that correctly) CRV holders into increasing our gauge weight for more CRV rewards for OUSD LPs. LPs will be able to receive both OGN and CRV token rewards in a major liquidity mining campaign on one of the most significant DeFi platforms.
We also took the first major step in transitioning towards complete decentralization by launching our OGN governance portal. OGN holders will be able to create proposals or vote on existing proposals to signal to the Origin core team what they think should be changed or worked on. This is just the first step in a journey towards gradual and complete decentralization. Origin has always defaulted to public and the underlying code powering our products and protocols remains open source.
On the NFT front, we announced a major drop by one of the standard bearers of car culture in West Coast Customs. This drop features NFTs that grant access to in-person events and experiences, NFTs that represent exclusive memberships, physical displays for NFTs, and other cool stuff. We also concluded the ΞTHΞRΞAL drop by major NFT creators Trevor Jones, Don Diablo, and Alotta Money. The winning bid was 150 ETH which represents a major success for everyone involved.
We have made some updates to our token dashboard. Currently there are 84,355,714 OGN tokens staked. This is nearly 25% of the entire circulating supply of OGN, showing strong belief in OGN from our holders.
Circulating supply is currently at 340M compared to a projected 410M tokens. The circulating supply number includes the millions of OGN staked in our staking program, reducing the actual float further.
To this date, no OGN tokens have ever been sold by either Origin co-founder. They have no plans on selling any OGN any time soon.
One of the greatest things we experience at Origin is welcoming new people to the Origin team. We welcomed Eric to our team a little while ago but made the news official recently.
Mila Choi, our regional manager in Korea, joined an NFT panel with many important figures in the Korean crypto scene including our friend Erica Kang of Kryptoseoul. You can find a recap of this on our Naver blog.
We are still looking for an experienced Product Manager for our NFT Launchpad, a Social Media Manager, a Full-stack Engineer, a Senior Growth / Marketing Engineer, and a Senior Solidity Engineer. Check out our job postings, and come join us or refer your friends!