ORIGYN Governance
.the ORIGYN
utility token
The ORIGYN Token (OGY) is the native utility token of the ORIGYN platform. OGY is used to create digital certificates and is required to access and utilize the ORIGYN platform.
OGY is a utility token by the standards put forward by the Swiss Regulators (FINMA) regarding token classification and is publicly traded. The value of OGY is driven by three core components:
Overall Market Conditions: OGY is bound to the behaviors and performance of the global macro environment, which impacts the overall crypto and token market.
ORIGYN Ecosystem Performance: The performance of the overall ORIGYN ecosystem, in particular the amount of certificates in circulation and the revenue ORIGYN generates, has a direct and indirect impact on the demand of OGY.
OGY Tokenomics: ORIGYN tokenomics establish a set of rules to balance supply and demand of OGY with incentives and rewards for the proper functioning of the project.
OGY is publicly listed on the following centralized and decentralized exchanges:
On-chain Governance & Dashboard
OGY holders may help to govern the overall ecosystem and participate in surplus economic value. This includes voting on proposals, which are a core principle in decentralized governance. OGY token holders can file proposals to enact changes within the ORIGYN ecosystem.
Through the ORIGYN Governance Dashboard, OGY token holders can manage their OGY holdings, including staking and governance rewards.
How Staking Works
ORIGYN has an on-chain governance system where token holders collectively vote on proposals. Token holders are able to stake their OGY tokens to gain voting power. Staking involves locking OGY tokens in the ORIGYN Governance Canister (OGC) to support the security and operations of the ORIGYN network.
The voting power is linearly proportional to the number of tokens staked. Tokens that are locked due to vesting are treated like staked tokens until they are removed by the owner and reallocated. Therefore, tokens with lockup periods of 12 months or more will generate voting power.
To prevent short-sighted voting outcomes, the minimum lockup period is set at one year. That is to say, tokens with lockup periods of at least one year have the same voting power. Those with lockup periods less than one year have no voting power.
To execute a veto on any proposal, 30% of the vote is required. Veto override majority requires 2/3rds to pass.
