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OGV to OGN Migration Guide

June 18, 2024

Migration Now Live: Convert OGV to OGN

Following multiple successful governance proposals, the merger is reaching its final – and most exciting – stage. OGV holders can now convert their tokens to OGN using the migration portal on Origin’s new, all-in-one dapp.

Existing holders have a one-year window to convert their holdings to OGN, which now serves as the sole governance and value accrual token for Origin’s yield ecosystem. Read on to learn how to migrate your holdings using the new platform.

Key Details:

  • Migration window: Open for one year from May 28th, 2024 at 7pm UTC
  • Conversion rate: 1 OGV = 0.09137 OGN

How To Convert Your OGV to OGN

1. Connect Your Wallet

First, navigate to the migration portal. Next, select “Connect Wallet” and sign in using the Web3 wallet that holds your OGV and veOGV. Make sure to set the network to Ethereum.

2. Select Balances to Convert

Once connected, the dapp will display your OGV balance, unclaimed OGV rewards, and current veOGV lockups on the left.

Confirm the balances and veOGV lockups you would like to convert to OGN using the associated check boxes. While users are encouraged to migrate all their holdings, the migration portal will remain open for a year to provide holders with maximum flexibility.

Once you’ve selected your balances, the dapp will display the total OGV to convert, as well as the resulting OGN you will receive. Select “Convert to OGN” to confirm.

3. Choose Your Stake Duration

The staking page also allows you to set the duration of your lockup, from 1 month up to a maximum of 1 year. As a reminder, xOGN holdings are determined by both the amount of OGN staked and the duration of your lockup time.

Users can also choose to stagger lockups on multiple time horizons by selecting specific balances to convert at once. For example, users can choose to stake certain balances for 1 year, and repeat the process to stake remaining balances for 6 months.

The page displays comprehensive metrics, including voting power and current staking vAPY, empowering you to make an informed decision.

After entering your desired staking details, you can proceed to convert your OGV to xOGN. The full conversion and new staked positions will be executed in a single transaction to minimize gas costs.

Sit Back and Reap the Rewards

After completing the conversion, your OGN holdings should reflect in your wallet, along with xOGN representing your staked holdings. Visit the dapp staking portal to manage your staked positions.

Governing OUSD, OETH, and the new Automated Redemption Manager, xOGN holders accrue rewards from multiple streams across Origin’s product suite. Explore the ecosystem and wield your voting power to have your say on protocol mechanics, treasury allocations, and more.

With the merge now finalized, Origin is laser-focused on conquering its brand new roadmap, which features exciting multichain expansions and even greater utility.

Join the Origin discord and follow us on X to keep up to date with the latest releases.

Yasthiel Devraj
Yasthiel Devraj
Originally released by Origin Protocol
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