The altcoin project Origin Protocol (OGN), which has come before investors with a new move, is preparing for the critical vote that will be held tomorrow! OGN, on the other hand, is losing value in its price! Here are the details…
This altcoin is facing its investors with a new move!
Origin Protocol, a protocol that focuses on NFT and DeFi, appeared before its users with a critical vote. The platform is now trying to compete in NFT royalty wars with zero interruptions without excluding investors who stake OGN coins and can therefore rebalance their tokenomics.
According to a governance proposal set to be passed on Tuesday, Origin Protocol is moving towards supporting the OGN staking program with its budget-funded Ethereum (ETH) and OGN grants. The next move is designed to combat a short-term shortage in price revenue that supports Origin Protocol’s popular returns program, which currently holds 11 percent of all OGN coins. But wages will go down to zero, at least by June. Earlier this month, participants in Origin Protocol’s on-chain governance approved a three-month freeze on the 1.25% cut in NFT sales driven through the protocol’s brand-focused NFT marketplace service, Origin Story.
It competed with OpenSea and Blur!
Finally, this move from the project put Origin Story in direct competition with OpenSea and Blur, two of the top NFT markets that stand out with zero downtime to instantly impress digital collectibles investors. Origin explained its latest move as the opportunity to “gain market share at this critical time”.
While Origin Protocol’s recent moves towards the NFT market and investors are noteworthy, this latest subsidy proposal states, “We will have a short-term reduction in platform revenues that will be given to OGN shareholders,” due to the fee freeze. The data, instantly disclosed on Origin’s website, shows that the protocol has completely run out of prize pools for both ETH and OGN, revealing that there are no tokens to be paid out to investors staking OGN. Platform officials, on the other hand, convey the following words in their statements:
If this offer passes, we invite the community and other team members to submit more specific offers on the amount of ETH and OGN to allocate to the pool.
Experts expect a decrease in price with the voting!
Hours before the vote, the proposal seems likely to pass. At the moment, 27 owners of OGN coins on Origin voted more than 1 million coins in favor of the transition, and none of them voted against. Of these, at least three participating addresses appear to be employees of Origin Protocol. Two other Origin Protocol team employees have not yet commented on the subject.
With the approach of the vote, the price level decreases. In the last 24 hours, the popular altcoin project OGN has lost 2.5% of its value and is currently trading at $0.11. As we have quoted as Kriptokoin.com, the market value is instantly at the level of 59 million dollars.
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