Important governance proposal for all OGN holders: Should we launch

a new token for OUSD? https://vote.originprotocol.com/#/proposal/0x0eec0d9a8294bab6ff0c073e2a73fc8eb02a3cb301c5b928d0a53f00c0ab214b

Just read through this. Will current OUSD holders receive OGV if they have supplied their stables through the OUSD.com portal?

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Yes, you will get as mentioned in the proposals as the team is current thinking We are early in our planning but we are eager for community feedback early in this process. Here’s our current thinking: Assuming community approval, a new ERC20 token, OGV will be launched as the new governance and fee accrual token for OUSD. OGV will be claimable by OGN holders on a 1:1 basis via a Merkle-distributor contract (similar to how Uniswap distributed UNI). If you have 100 OGN, you’ll be able to claim 100 OGV. This includes OGN holders who are currently staking OGN. We will work with centralized exchanges to make sure their OGN holders also receive OGV. Having a native token for OUSD will let us provide rewards directly to current and future OUSD holders and liquidity providers. This will further incentivize protocol growth and adoption. OGV will be the governance token for Origin Dollar via a veOGV mechanism (similar to Curve) that distributes economic and voting power to those most committed to the long-term success of the protocol. veOGV stakers will be able to set protocol fees as a percentage of yield, determine asset allocation, propose new strategies, etc.

Yes I understand what was provided within the proposal. The question still stands: “Will current OUSD holders that have utilized the OUSD.com portal to supply USDT/DAI/USDC to acquire OUSD be eligible to receive OGV?” This should be taken into consideration since it is a direct showing of who is actively using the OUSD product. Likewise with Origin Story.

Please let's wait for the official news.

Please share with me your channel

You can check our announcement channel. https://t.me/OriginProtocolAnnouncements

Need to figure out the specifics, but I agree it's only fair to include OUSD holders and liquidity providers

OUSD holders haven’t been exposed to the same speculative risk as OGN holders. Many OGN holders are way down on their investment. Plus this is basically a split off governance token from OGN. The 1:1 airdrop is already gonna have a large circulating supply of tokens and adding even more people to the airdrop pool is gonna cause some crazy inflationary issues in the long term. If anything it should be voted on.

Why would you unilaterally agree to that without putting it to a vote? Do you want OGV to tank like OGN?

There’s a major distinction between price exposure and anticipating the OGV 1:1 conversion to act as a “clean slate” for one’s losses to incentivizing/rewarding those who are actively contributing & using the OUSD product. let's not conflate the two.

I'd also add the OGN will act as the governance token for Origin Story. The only difference with OGV is that it’ll govern OUSD.

You’re already being incentivized/rewarded by receiving yield with no risk of loss. What I hear is I want free stuff with no risks involved.

I thought the proposal was to do an airdrop 1:1 for OGN holders. I wouldn't want to vote on this if it's for ousd holders too. I fear too big a supply could effectively hurt the project like many other tokens. Better to have those OUSD holders acquire OGN if they want to get the airdrop.

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This is a common issue we're experiencing in DeFi governance - rewarding tokenholders and not contributors. The team can see who is actively participating in and holding OUSD. Likewise for those who have staked their OGN. These are the intrinsically motivated individuals that exhibit long-term value capture qualities. Having OUSD holders acquire OGN would defeat the purpose because you're basically saying "go pump this token and receive a 1:1 in return later." This doesn't benefit the whole, just those who look to recooperate losses. In response to @rickdangerr, the risk involved is actively staking (if you're an OGN holder) an supplying stables to the OUSD product. That exercise in itself is not risk averse by any means.

The proposal said the airdrop would be 1:1 ogn for ousd, sir.

That it did. OUSD can work out rewards after the airdrop.

No, it said 1:1 OGN to OGV. Not OUSD.

That would defeat the purpose as a preliminary discussion can be had.

Mistyped that.

That's how the proposal reads. I also don't think ousd holders should get the airdrop, only future rewards.

OUSD holders and OGN Stakers share the same long-term conviction in the Origin Protocol. These are people (holders) that 9 times out of 10 will continue holding for the foreseeable future and will help maintain the health of the protocol moving forward. So yes, both should be reward/incentivized to continue doing so.

Sounds like it would need to pass a Governance vote with clear language.

But the airdrop should be 1:1 ogn to ogv, just like the proposal says. There was nothing stated about ousd holders getting airdropped. These things are better clarified.

The airdrop should aim to maintain & stimulate active contributions. Hence the intention of this in the first place. The goal is to extend community ownership to these two product lines (OUSD and Origin Story). As agreed upon by one of the team members OUSD holders should also be considered as well - since this will directly affect them regardless (since OGV will govern OUSD). (referenced message here: https://t.me/originprotocol/601652) Regarding token supply, that was my assumption that OGV will match that of OGN.

Nevertheless, specifics can sstill be laid out even if the proposal passes. This is not set in stone.

it really isn't lol. that is literally how governance works 😅.

Yeah…we vote on what is written. Not make stuff up after it passes.

To reward ousd holder with an airdrop would be a huge mistake. Why?/ ousd is a stable coin for heaven's sake. It did not give you losses but stable profits, while we as loyal $OGN holders, we are rekt big time.

Again, you're viewing this with the perspective of recovering losses. I completely undersetand your stance, but on a governance perspective is not a viable approach. Yes, OUSD is a stablecoin but it also should be governed by long-standing stakeholders of both OGN and OUSD.

I agree, we have been invested for a while now. Tokenholders should be prioritized because we invested in the entire ecosystem when it was a lot smaller.

That’s why you own OGN to have a stake in OUSD…

Lol , when did a stablecoin holder get any airdrops? Like as a usdt holder? I do not remember ever. There is a reason why not happened this... Logical.

I don't think @joshfraser would do such a colossal mistake, airdrop for stable coin holders, which are in profit anyway. $OGN holders, we are in deep, deep losses. Colossal losses

You would need to have been here a while to fully understand this.

Ogn holders already paid for the OUSD hack. That's it. We will surely not airdrop anything to OUSD holders. They have the best stablecoin already.

USDT isn't a yield-bearing asset that utilizes multiple yield farming strategies. Hence why there's about to be an active proposal on OUSD's allocation strategy (https://snapshot.org/#/origingov.eth/proposal/0x2bf10338c77e000781661f24c345be3be0adabd0ce206134284d1db7b8ac2f22). I understand that you're in a loss (as well as others), but you're exhibiting the exact same behavior that will afflict the protocol - being extrinsically motivated.

I think you're trying to obfuscate his argument.

Lol, to give a airdrop to OUSD holders , that would be the last drop for OGN. Colossal mistake. I would surely never support OGN after that. Just cut the bullshit

there's nothing to obfuscate to begin with... You can't compare the two products as they adhere to two different methodologies.

Thank goodness this isn't traditional finance.

You're failing to see my point.

Likewise.

I understand what you're saying and disagreeing with it. Big difference.

You hold your ogn, and you will get an airdrop. Simple is that. No stablecoin will give you an airdrop, if the stablecoin is functioning as intended:)

That's not to say a liquidity mining program available to ousd holders where they earn ogv wouldn't happen.

same logic could apply for OGN Stakers.

Not in the proposal but OGN stakers who staked for a year should get extra reward, in my opinion.

a multiplier should be explored for long-term stakers, i agree. Regarding the proposal, even if it passes it's not definitive. An official announcement still needs to be made. The team is still exploring specifications.

I heard some Alpha on this exploration. It’s gonna involve 1:1

could be 🤷‍♂️

He doesn't seem to comprehend that no matter how many times it's explained. Thanks for chiming in, anon.

Because it’s besides the point 😂

No it's not. I'm done with you. Not wasting anymore time on this. Notice the amount of people agreeing with me over you? That should be enough for now.

I mean you’re fixated on this notion of “I need airdrop because I’m at a loss” when the entire purpose of the proposal is to hand off community ownership (emphasis on **ownership**) to the OUSD product. A product that has amassed a multi-million dollar market cap due to active community contributors. I recommend reading about DeFi Governance because this is beyond recuperating losses from OGN (if that was the case a 1:1 wouldn’t have been proposed). Either way, the team needs to provide more information as they did mention they’re going through specifics. So TBD.

I'm not reading this. If you held OGN through a +90% drawdown from all time high, maybe I'd consider your opinion. Good day, sir.

1:1 to OGN holders - it’s pretty definitive. OUSD airdrop wasn’t specified in the Governance proposal. OUSD holders can convert their OUSD into OGN if they’re not holding. Dunno how gaining yield is somehow an “Active community contributor”

Just stop. You've already failed to construct an argument. We're done.

Dr. If you have an idea, why don't you make a proposal on Snapshot. Anyone could make a proposal.