These Altcoin Developers Respond to Allegedly Selling Coins on Binance!

Altcoin, a blockchain-based decentralized platform Origin Protocolclarified the circulating offering and token release schedule after confusion among its community.

Altcoin Origin Protocol Developers Clarify Controversial Issue

According to the company, some members of the community on CoinGecko with the circulating supply Binance questioned the discrepancy between what was reported in its report, which led to suspicions that Origin team members were selling tokens, causing a drop in OGN’s value.

The company assured its community that no team members or advisors are selling OGN on Binance or any other exchange, and that 100% of its employees and advisors are currently in lockdown.

Origin attributed the inconsistency in the circulating supply to several factors, including overfunding of wallets used to programmatically distribute tokens to pre-sale investors, forgetting to inform CoinGecko about a wallet with OGN allocated for partnerships, and pre-funding the liquidity provider to ensure adequate liquidity.

To clear up the confusion, Origin returned all the extra tokens to Foundation Reserves, a multi-signature wallet with an ERC-20 contract, increasing its current circulating supply to 2.34%.

The company apologized for the confusion it caused and promised to be more careful to ensure its circulating supply matches what it shared publicly in the Binance report.

Additionally, Origin predicted that February deliveries for Origin Rewards will be slightly higher than anticipated due to the overwhelming success of the Holiday Rewards campaign, which had a tremendous buzz around its launch.

However, the company assures its community that the absolute number of tokens as a percentage of its total circulation remains quite small and will be a one-time event associated with the launch of the slightly larger distribution.

*Not investment advice.