The ORIGIN protocol sextet consists of six central contracts: treasury contract, sales contract, bond contract, Stake contract, transaction turbine mechanism, and FOMO POT prize pool. The above six contracts constitute the basic operating logic of ORIGIN.
1.Treasury contract
The treasury contract is a simple vault that holds all funds the protocol collects. For example, if a user purchases USDT bonds, USDT will be fully received by the Treasury in exchange for equivalent LGNS. New LGNS will be minted based on the Treasury’s risk-free assets (RFV).
Total treasury assets: The total amount of various assets entering the Treasury through bond sales, including the total value of USDT, LGNS-USDT LP, etc.
Total risk-free assets of the Treasury: the total risk-free amount of various assets entering the Treasury through bond sales. Among them, USDT bond value = USDT bond risk-free value; LP bond total value > LP bond risk-free value. Therefore, the total treasury assets may decline as LGNS prices fall, but the total treasury risk-free assets show a unilateral upward trend. ORIGIN sets that each LGNS minted is backed by $1 of treasury risk-free assets. As the Treasury’s risk-free assets increase, more LGNS will be minted.
2.Sales contract
According to the treasury contract, each LGNS mint is anchored to 1USDT. When 1 LGNS>1 USDT, the protocol will add and sell LGNS; when 1 LGNS< 1 USDT, the protocol will repurchase LGNS. Support is achieved through inflationary or deflationary patterns. At the same time, regardless of whether the price of LGNS is higher than 1 USDT or lower than 1 USDT, the ORIGIN protocol can benefit from it.
3.Bond contract
ORIGIN sells two main types of bonds: liquidity and reserve.
Liquidity bond sales: The process in which ORIGIN users use LGNS-USDT LP to trade with the ORIGIN protocol is called purchasing liquidity bonds. The protocol obtains the ownership of LP, and the user loses ownership of LP. As compensation, the user will get more than the market purchase. LGNS token. Liquid bonds provide users with corresponding discounts. The bonds have a 5-day exercise period. After the exercise period, users will receive LGNS tokens.
Reserve bond sales: Users use USDT to purchase reserve bonds. The protocol owns USDT. As compensation, users will receive more LGNS tokens than the market purchases. Reserve bonds provide users with corresponding proportional discounts. The bonds have a 5-day exercise period. After the exercise period, users receive LGNS tokens.
Advantages of bonds: 1) Bonds do not rely on market data. The bond market is automated; the number of bonds outstanding determines bond prices. 2) Bonds delay the impact of new LGNS supply on the market. 3) Bonds require less management, and bond sales are designed to have a discount rate controlled by the agreement. 4) Bonds are a more market-driven way to achieve the protocol’s goals.
4.Stake contract
staking logic is relatively simple. Staking is the primary source of income for users participating in ORIGIN. It is designed with participants in mind, rewarding ORIGIN consensus members and LGNS token holders. For participants, the best way is to hold LGNS for a long time, and the protocol will automatically distribute income and compound interest.
5.Trading turbine mechanism
All tokens obtained through the reward mechanism must be released to the user’s wallet through the transaction turbine mechanism. The transaction turbine mechanism refers to buying the corresponding token at a ratio of 1:1 and holding it silently for 24 hours to obtain the reward mechanism token release. Reward sources: Cobweb system, DAO pool rewards, bond purchase recommendation incentives. This mechanism can effectively circulate and stabilize currency prices from an automated system.
6.FOMO POT prize pool
will be charged for selling tokens, 2% of which will go into the prize pool. When the prize pool reaches 20,000U, the lottery will be drawn. The points for the last 10 buying addresses with more than 100U will be weighted and distributed according to the purchase amount. This prize pool increases playability, enriches the scenario applications of the entire ecosystem, continuously creates community topics, and stimulates the trading activity of the LP pot.
