📕Tokenomics FAQ
1. What is OGY and how is it used?
The OGY utility token is the lifeblood of the ORIGYN Protocol. OGY is used to create ORIGYN Digital Certificates, mint ORIGYN NFTs and facilitate transactions within the ORIGYN Protocol. Individual holders can stake OGY in order to generate voting power and participate in governance, as well as to earn rewards for their participation. Fees for interacting with the ORIGYN Protocol also cover the cost of storing data on the Internet Computer (IC) blockchain, ensuring the secure and immutable storage of digital assets.
2. Where is OGY available?
OGY is publicly listed and traded on the following centralized and decentralized exchanges, with more to come this year:
3. What is ORIGYN Tokenomics 3.0?
ORIGYN Tokenomics 3.0 is the latest evolution in ORIGYN tokenomics, which officially began in October of 2021 with the launch of OGY token. In version 3.0, OGY becomes a deflationary token, as ORIGYN will no longer mint new OGY tokens — period. In addition, Tokenomics 3.0 releases existing holders from their vesting schedules in order to participate in staking and governance. Ecosystem partnerships, developer rewards, multi-chain interoperability and liquidity represent additional core functions of ORIGYN tokenomics. To learn more, please visit the ORIGYN Tokenomics 3.0 Deck: https://dashboard.origyn.ch/Tokenomics_V3.pdf
4. How has ORIGYN Tokenomics evolved since its inception?
The most recent changes to ORIGYN Tokenomics were implemented to reward long-standing OGY holders by releasing their OGY from vesting to participate in governance and receive rewards. Additionally, these changes were made to position OGY as a deflationary utility token and to create a more dynamic, collaborative, transparent and accessible ecosystem.
ORIGYN Tokenomics 1.0 launched in October of 2021 with the genesis of the OGY token. 10 billion OGY were minted at genesis, and the tokenomics included a balance of inflationary and deflationary mechanisms. This methodology was updated in 2022, with Tokenomics 2.0, which was the first step toward a fully deflationary model and included a variety of inflation-limiting initiatives. For a brief history of ORIGYN Tokenomics, click here [lite paper link]
5. What are DAOs for Good?
At the inception of ORIGYN Foundation, 300 million OGY were earmarked for future global causes. This OGY has been equally divided between three Decentralized Autonomous Organizations (DAOs) that support philanthropic and humanitarian initiatives. For more on the timeline and launch of these DAOs, please see the aforementioned tokenomics roadmap.
6. What type of token is OGY?
OGY is a utility token in accordance with the standards of the Swiss Financial Market Supervisory Authority (FINMA)
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