NFT marketplace builder Origin Protocol may rebalance its tokenomics as it tries to compete in the zero-fee royalty wars without also ostracizing stakers of OGN token, who depend on the platform’s now-slashed fee revenue.
The protocol is moving toward backstopping its OGN staking program with ETH and OGN subsidies funded by its budget, according to a governance proposal poised to pass on Tuesday. The action is designed to combat a short term shortfall in the fee revenue that usually supports Origin’s popular yield program, which currently holds 11% of all OGN tokens.
But those fees are going to zero – at least until June. Earlier this month, participants in Origin’s on-chain governance approved a three month freeze to the 1.25% tax on NFT sales conducted through Origin Story, the protocol’s brand-focused NFT marketplaces service.
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