• © Goverland Inc. 2026
  • v1.0.8
  • Privacy Policy
  • Terms of Use
Origin ProtocolOrigin Protocolby0x96FEb7b6F808dd2BBd09c9E5ccdE77caBd58d019Micah Alcorn

Stop OGN buyback in preparation for OGV launch

Voting ended almost 4 years agoSucceeded

10% of OUSD's yield is currently held by the protocol and then used to automatically buy OGN on Uniswap.

https://etherscan.io/address/originbuyback.eth#tokentxns

With the introduction of OGV as the new governance token for OUSD, there will no longer be a direct relationship between OUSD and OGN. It's also likely that veOGV holders may prefer that fees accrue to them directly rather than indirectly through token buybacks.

As we prepare for the launch of OGV, I propose that the 10% service continue to accumulate OUSD in the buyback contract (originbuyback.eth) but that the automated OGN swapping be disabled. If this proposal passes, the buyback should be disabled prior to the OGV airdrop on July 12, 2022.

It's worth noting that, when the buyback contract was initially deployed, it accumulated OUSD for 19 days before the first automated swap to OGN occurred. Similarly today, the OUSD balance in this contract should continue to grow and then a subsequent proposal can determine how those funds should be used.

Off-Chain Vote

Yes, stop swapping OUSD for OGN
1.61M OGN100%
No, take no action
0 OGN0%
Download mobile app to vote

Discussion

Origin ProtocolStop OGN buyback in preparation for OGV launch

Timeline

Jun 11, 2022Proposal created
Jun 11, 2022Proposal vote started
Jun 13, 2022Proposal vote ended
Mar 04, 2026Proposal updated