Reading time saved: 3 minutes
0 replies, 1893 views, 5 likes
Ghantav proposed integrating Origin Protocol (OGN) into the AAVE platform, aiming to leverage Origin's large community and strong Asian presence. Despite potential liquidity concerns, Ghantav assures OGN's robustness, highlighting its availability on other DeFi platforms and its secure contract structure, while expressing openness to community feedback and suggestions.
The discussion primarily revolves around the proposal by Ghantav to integrate Origin Protocol (OGN) into the AAVE platform. Origin Protocol is an e-commerce/marketplace protocol that aims to eliminate intermediaries. It has a strong team, solid investors, and a large community. The integration of OGN into AAVE is expected to attract new users from Origin's large and active community, which includes over 250,000 email subscribers, 62,000 Telegram group members, 64,600 Twitter followers, and 68,000 Blockfolio Signal members. Origin also has a strong presence in Asia, with full-time employees in Korea and China.
Origin Protocol was founded in mid-2017 in San Francisco by a team that includes one of the founders of PayPal, the first engineer at YouTube, and former engineering managers from Google and Dropbox. They raised $38.1M in token sales in 2017 and 2018. The Origin Token (OGN) is a multi-purpose ERC-20 token created to fuel the growth of the Origin network. It enables an affiliate/advertising platform, incentivizes end-users to use and share the platform, and transfers value between buyers and sellers as a payment token. It will also be used for on-chain governance purposes in the future.
Despite potential concerns about liquidity, Ghantav assures that OGN has more liquidity than wBTC and is already available on other DeFi platforms like Uniswap, Kyber, and Balancer. The OGN contract has a custom approveAndCallWithSender function based on ERC-827, which allows OGN to be approved and transferred to a whitelist of addresses in a single step. This function was added to improve the user experience for users of the Origin marketplace. The OGN contract is owned by a 5 of 8 Gnosis multisig contract, audited by OpenZeppelin, ConsenSys, Origin’s team, and others. The keys are held by individuals with close ties to the company, who have been instructed to manually double-check every proposal for accuracy before granting approval. The contract includes OpenZeppelin libraries that enable minting, burning, and pausing. These functionalities were included to reserve optionality in an unknown future, but there are no current plans to use them. The founders do not have enough control to execute these owner functions on their own. Ghantav mentioned that they are not ready to revoke ownership of their token contract as the network is still developing, but they are open to adding a Compound-inspired timelock in front of any admin function calls if that will make a difference for the community. The discussion concluded with Ghantav expressing interest in hearing community feedback on this proposal and any suggestions that would make it more compelling.
Posted 3 years ago
Last reply 3 years ago
Summary updated 2 months ago
Last updated 04/12 00:18