Welcome to bulliscoming media, the OGV airdrop is among the airdrops in the blockchain space that have been making waves.
OGV token is expected to be used as a governance token for the Origin protocol.
Many crypto enthusiasts are interested in participating in the OGV airdrop — because they perceive the airdrop event as an opportunity to get some free money in this bear market.
However, the airdrop doesn’t come in a free platter of gold — as it requires a little action to be taken by anyone that wants to get the OGV airdrop at a particular point in time.
In this article, that is what I will be covering, and I will also briefly explain what Origin Protocol (OGN) is all about.
What Is Origin Protocol?
Origin Protocol is a web3 protocol with the mission to bring non-fungible tokens (NFTs) and decentralized finance (DeFi) to the masses. After the Origin team has been building consumer-friendly products in the blockchain space for years, they learned that decentralized commerce would satisfy needs that users cannot fulfill with centralized alternatives. This can happen in the form of NFTs as digital collectibles or for financial applications.
Origin Protocol aims to create crypto-centric and user-friendly applications that will enable decentralized applications to rival their centralized counterparts. Origin Protocol also believes that decentralized finance, while growing, is still too cumbersome and complex for average users. Therefore, even crypto-savvy users prefer alternatives like credit cards and mobile payments for their convenience.
For this reason, Origin Protocol has been focusing on enabling commerce on the blockchain across verticals like non-fungible tokens and decentralized finance.
What Is OGN Token?
OGN token is the governance token of the Origin protocol ecosystem.
It’s used to vote on governance proposals in the ecosystem, which means OGN holders have the right to govern the operation in the ecosystem.
OGN token is an ERC-20 token that has 1b as its total supply, with which 501,077,477 are in circulation at the time of this writing.
OGV Airdrop
The Origin protocol ecosystem consists of two tokens which are OGN and OUSD. As I mentioned earlier, OGN (currently) is the governance token of the ecosystem and value accrual token for OUSD.
The Origin protocol possesses two products — which are DeFi and NFT.
However, the DeFi aspect in this ecosystem is that — OUSD is a stable coin, and it generates yield for anyone that’s holding the stablecoin in their wallet (without staking/locking hassle).
Important: Crypto Airdrops — How To Get Legit Crypto Airdrops
Meanwhile, the OGN token represents both of these products (DeFi and NFT) and also serves as a governance token in the ecosystem.
According to the Medium post published by Origin Protocol Co-founder, Josh Frasher, having the OGN token representing both of the products has been confusing for the community, thus, limiting the OGN token to reach its potential and eventually gain more value.
Considering this, they have decided to launch a new token separate — which will serve as the governance token for the ecosystem.
However, they wish to spice it up and achieve a huge number of wallets holding the newly created token at initial launch, and also strategically get it to be listed on major cryptocurrency exchanges.
Hence, they will launch an OGV airdrop model that will also influence the growth of OGN and OUSD by laying down the criteria to be eligible to claim the OGV airdrop, which is:
How To Get OGV Airdrop
You can get the OGV airdrop in three different ways, according to the airdrop criterion laid out by the team. Below is the list of the three different ways:
- Hold OGN
Any OGN holder is eligible for the OGV airdrop in a ratio of 1:1. A snapshot will be taken between July 5 – 12, and holders must be holding their token at that period in time — to be able to claim the OGV airdrop.
However, it doesn’t matter if they are holding the token on a centralized exchange as the team had promised that they have been communicating with major exchanges to support the airdrop campaign.
But then, there will be a list of exchanges that’ll be supporting the OGV airdrop publicly published.
- Have been holding OUSD since January 2021 to the snapshot window.
Those that have been holding OUSD since January 2021 till when the snapshot will be taken are also eligible for the OGV airdrop.
- Pre-Launch Liquidity Mining Campaign
The Origin protocol has also activated the prelaunch liquidity mining program, and anyone that participates in the new prelaunch liquidity mining campaign by contributing to the OUSD pairs on Curve or Convex will be eligible to claim the airdrop.
The token (OGV) is expected to be 4 Billion while the circulating supply is 1 Billion or less.
Related: 01 Protocol Airdrop Update | How to Participate
Final Thought
The OGV airdrop could be considered a quick relief from the current “crypto winter” for investors in the crypto space.
However, it might be risky to participate in the OGV airdrop, because there might be huge selling pressure on the OGN token after the OGV airdrop has been distributed to OGN holders.
Hence, this might lead to a slight loss for anyone that will buy an OGN token — just to partake in the OGV airdrop.
Nevertheless, this article is for informational purposes only, and shouldn’t be considered financial advice.
