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OGN & OGV Merger Proposals Now Finalized

April 17, 2024

Origin’s OGN-OGV Merger Approved by Governance

At the start of April, we proposed a bold new vision for Origin’s future trajectory. The community’s positive reception to our new roadmap has further cemented our conviction in the protocol’s new direction.

The proposed merger to absorb OGV into OGN saw two governance votes in recent weeks. The initial proposal for the OGN community was followed by another submission to align OGV stakers. We’re excited to announce that both proposals have passed, placing OGN at the core of our diverse yield ecosystem.

This merger offers significant benefits for all stakeholders, solidifying Origin as a dominant player in the yield generation arena.

Concentrating Value

Until now, OGV has governed both OETH and OUSD, earning stakers a share of protocol revenue from both products. However, OGV remains severely mispriced, with a far lower market cap to TVL ratio than other competitors in DeFi.

Placing OGN at the heart of the ecosystem marks a vital step toward focusing Origin’s offerings under one, unified banner — accruing yield from all of Origin’s products. This renewed focus allows the team to concentrate on building with confidence, while also cultivating a clear, robust narrative for the community to rally behind.

As a result of the merger, OGN holders will directly benefit from governing 9 figures in TVL and earn a share of protocol revenue from OETH and OUSD. At the same time, existing OGV holders will benefit from the increased liquidity and support offered by OGN. OGN’s utility expands along with Origin’s product suite. The token will also govern PrimeStaked, a robust liquid restaking platform launched at the start of 2024.

Excitingly, OGN will also serve as the sole value-accrual and governance token of Origin’s brand new Automated Redemption Manager (ARM), placing it at the center of a cutting-edge hub for seamless LST liquidity.

Looking Forward

In the near future, users will have the opportunity to vote on a governance proposal regarding OGN’s upgraded tokenomics. If approved, migration mechanisms will be implemented to allow OGV holders to convert their holdings to OGN.

A new era of OGN is upon us, and we’re immensely thankful for the community’s continued support as  we embark on this journey.

Join Origin’s Discord and follow us on X to keep up to date with new announcements!

Yasthiel Devraj
Yasthiel Devraj
Originally released by Origin Protocol
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