Allocate 100% of Protocol Revenue to $OGN Buybacks for xOGN Distribution

Summary

This proposal seeks to allocate 100% of Origin Protocol’s protocol revenue—generated by OETH, Super OETH, OUSD, OS, and the Automated Redemption Manager (ARM)—toward the buyback of $OGN from the open market. All purchased OGN will be distributed to xOGN holders, creating direct, ongoing value accrual for DAO participants and aligning long-term incentives between product usage and token ownership.

Allocating 100% of protocol revenue to OGN buybacks is designed to strengthen xOGN staking incentives and attract broader participation in the Origin ecosystem.

This program will be fully funded by protocol revenue, without relying on any token emissions.

Motivation

As Origin’s suite of products continues to grow in adoption and revenue generation, it is critical that protocol revenue is used in a way that meaningfully rewards stakers and holders. Currently, OGN holders benefit from staking incentives, but protocol revenue has not been directly tied to token holder value.

This proposal solves that gap by:

• Using 100% of protocol revenue to buy back OGN on the open market
• Distributing all purchased OGN to xOGN stakers
• Turning protocol revenue into direct token holder value

This would formalize the link between protocol performance and token holder benefit, enhancing the value proposition of holding and staking OGN.

Specification

Scope of Revenue:

The protocol revenue will no longer be used to acquire DAO assets, such as CVX. Instead, 100% of revenue generated by the protocol will be used to market buy OGN. The proposal covers all fees collected by the DAO from the following products:

• Origin Ether (OETH): 20% Performance fee on OETH yield
• Origin Dollar (OUSD): 20% Performance fee on Origin Dollar yield
• Super OETH: 20% Performance fee on Super OETH yield
• ARM: 20% Performance fee on ARM Vaults
• Origin Sonic (OS): 10% Performance fee on Origin Sonic yield

Mechanism:

1. Revenue will be periodically collected and consolidated into designated addresses.
2. Funds will be used to market-buy $OGN.
3. Purchased $OGN will be distributed to xOGN holders using the existing OGN staking program.

Benefits

• Direct Value Accrual: All products now drive utility and rewards back to the token.
• Incentive Alignment: Users and contributors are rewarded for holding and staking OGN.
• Sustainable Demand: Ongoing OGN buybacks create persistent market demand and potentially reduce circulating supply.
• Governance Participation: Drives more participation in the DAO as xOGN becomes the primary vehicle to access protocol rewards.

Implementation Timeline

• Proposal timeline: one week
• Buyback timeline: beginning within one month of this proposal passing
• Recurring operations: Buybacks will be conducted on a recurring basis as protocol revenue is generated, with updates posted in Origin’s Discord and on X.

Conclusion

If passed, this proposal directs all protocol revenue to buy and distribute OGN to xOGN holders—directly linking product success with token holder rewards. With no new emissions, it creates a clear path to sustainable value for both existing and new holders.