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Thanks to the support of the community, we are happy to announce that Origin token holders can now use OGN to borrow other cryptocurrencies on Cream Finance, a leading peer-to-peer lending platform. After the second proposal, CREAM holders voted overwhelmingly in favor of increasing OGN’s collateral to 45%.
OGN becomes a collateral on CREAM, providing many new utilities for OGN. From today, OGN holders can use OGN as collateral on Cream Finance and earn profits from other borrowers. This is another option to make profits from OGN in addition to these staking program now available. The OGN holder will also be able to use this platform to borrow money from OGN to get money, solve short-term capital needs while ensuring ownership and benefits from any price increases. Future.
In simple terms, for every $ 100 Ogn, they can probably borrow up to $ 45 in the form of stablecoins, tokens or wrapped BTC, ETH and other cryptocurrencies. For a complete list of supported tokens, please visit Gitbook.
In the future, Origin plans to take advantage of this new loan potential to further improve OGN fund management. We plan to use OGN in our reserves to borrow stablecoins and OUSD mint. This allows us to benefit from competitive yield of OUSD without having to sell OGN. By increasing OUSD’s circulating supply, we will also increase the amount of OGN acquired through Origin Dollar’s decentralized governance mechanism.
In summary, the main benefits for OGN holders are:
- Long-term holders can now lend to OGN and earn interest. This can be an attractive way to make a profit without being tied to the staking program.
- Long-term holders can now borrow stablecoins and other cryptocurrencies with OGN collateral. This reduces selling pressure and improves token utility.
- OGN holders can also use leveraged strategies on Cream.Finance to maximize profits during OGN price movements without relying on centralized exchanges.
The CREAM community is well known for supporting related projects and providing add-ons to their platform. We are extremely grateful for their enthusiastic support and will look for new cooperation opportunities in the future. Together, we can build a stronger ecosystem for both projects.
Learn more about Origin:
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