🏛️Key Entities in OGY Tokenomics
To understand OGY Tokenomics 3.0, it’s important to first understand the existing and new entities that contribute to the ORIGYN token economy.
ORIGYN Foundation: The ORIGYN Foundation is a major contributor to the ORIGYN ecosystem and serves as a steadfast proponent of its mission and purpose
ORIGYN Protocol: The ORIGYN Protocol is the Decentralized Autonomous Organization (DAO) controlled by OGY token holders, who participate in governance by voting on proposals. Governance activities include setting exchange rates, motion proposals, NFT collection governance, authenticator registration, fraud recovery, re-minting assets, and other functions of the ORIGYN Protocol.
ORIGYN Treasury Account (OTA): Revenue earned from operating the ORIGYN platform, such as through minting fees, transactions, and donations, will be placed into the ORIGYN Treasury Account. The revenue account is owned by the protocol and the ORIGYN foundation will make proposals for the use of the revenue, with the main purposes being to (1) burn OGY or (2) reinvest revenue to improve and support the protocol.
ORIGYN Rewards Account (ORA): The ORIGYN rewards canister incentivizes and rewards staking and governance participation. Rather than minting new OGY tokens, the foundation and its founders will contribute up to one billion OGY from the existing supply of OGY to the ORIGYN Reward Canister.
ORIGYN Ecosystem Fund: The ORIGYN Ecosystem Fund will support ORIGYN’s desire to increase the number of OGY holders and drive further decentralization of its governance model through partnerships within the IC ecosystem. The ORIGYN Ecosystem Fund will partner with YUMI, SHIKU, and HOT OR NOT, in the first instance, to provide the liquidity of OGY tokens to pair with their newly spawned tokens or distribute to users.
Developer Grants, Bounties, and Airdrops: In order to incentivize community involvement in developing open-source code for the ORIGYN Protocol, the foundation will reserve 100 million OGY to attract developers to the ecosystem that will be used for bounties, grants, and airdrops.
DAOs for Good: ORIGYN has established three DAOs in support of important global causes (each seeded with 100 million OGY). These not-for-profit organizations were defined at the onset of the foundation and are now being operationally expanded to support philanthropic and humanitarian initiatives, including the environment, causes for children, and other charitable endeavors. This begins with the launch of the BioSphere DAO, which supports the protection of endangered species and the environment. The first project that will be seeded through the DAO in Q4 2023 will be in partnership with the Protecting African Wildlife (P.A.W) foundation by artist Conor Mccreedy.
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