Origin Protocol (OGN) on DeFi, Token Utility, and What’s Next in 2025
Origin Protocol (OGN) has grown from its roots as the creator of the first yield-bearing stablecoin into a robust DeFi protocol for multichain yield. Their suite of complementary yield products is designed to increase economic opportunity for all and provide superior user experiences across DeFi.In this in-depth interview, the team reflects on recent milestones, clarifies token dynamics, addresses the token holder community, and outlines what’s next for Origin in the fast-evolving Web3 ecosystem.Project Evolution & Strategic Positioning1. For readers unfamiliar with Origin Protocol, how would you define your mission and core product offering in 2025?At Origin, our mission is to unlock DeFi’s full potential for everyday users by building products that deliver superior yield, liquidity, and user experiences across chains. Since launching the first yield-bearing stablecoin (OUSD) in 2020, we’ve expanded into a suite of yield products that now includes Origin Ether (OETH), a liquid staking token, and Super OETH, an enhanced-yield LST on Base and Plume. Together, these products simplify access to DeFi yields, help protocols bootstrap liquidity, and drive sustainable value back to our native token, OGN. With Origin’s multichain presence and integrations with leading platforms like Morpho, Aerodrome, and Compound, we’re enabling users to earn more from their assets with less friction.2. What key market gaps does Origin aim to solve in today’s DeFi industry — especially in contrast with projects like Lido?Lido solved the most crucial barrier to ETH staking – opening up liquidity while being able to earn rewards. What Origin is focused on is the yield opportunities that come next, as well as the growing demand for composable, incentive-aligned yield products across chains.Origin is focused on two critical gaps:Enhanced capital efficiency: Origin’s yield-bearing tokens are supported by efficient liquidity and yield strategies, boosting APYs and holding a tight peg to their underlying collateral assets. We’ve opened up new use cases for yield with Yield Forwarding, enabling LSTs and other yield-bearing assets to forward yield to liquidity incentives and beyond.Broader accessibility: By operating across Ethereum and more scalable networks like Base and Plume, Origin gives users more ways to put their ETH to work without being locked into a single chain or ecosystem.We’re also unique in how protocol revenue ties directly to OGN buybacks and staking rewards, creating a clear value loop for token holders.3. With many Web3 infrastructure projects pivoting or stalling, what factors have helped Origin maintain relevance and resilience through multiple market cycles?Origin’s resilience comes from adaptability, responsible treasury management, and an uncompromising focus on security. We’ve consistently evolved with the market—moving from stablecoins and marketplaces to liquid staking and yield-enhanced products—while maintaining a strong treasury to fund innovation through every cycle. Combined with top-notch security practices and battle-tested smart contracts, this approach has kept Origin trusted and relevant as DeFi continues to mature.Product Development, Adoption & Technical Roadmap4. What were the most impactful milestones over the past 12 months — whether on-chain activity, revenue generation, DAO progress, or new product rollouts?The past year has been transformative for Origin. Protocol revenue has tripled, enabling the OGN DAO to accumulate over $3M in assets from protocol earnings alone. This growth directly fueled the launch of a new OGN buyback program that channels all protocol revenue and DAO assets into sustained buy pressure for OGN.On the product side, we rolled out Super OETH, Origin Sonic, and the Automated Redemption Manager (ARM)—all designed to strengthen protocol revenue and expand user opportunities. Together, these products have driven Origin’s total value locked (TVL) above $200M, with OETH and Super OETH making up the majority. Tens of thousands of users now interact with Origin’s suite of yield products across multiple chains, reflecting strong and growing global adoption.OGN: Tokenomics, Utility, and Market Dynamics5. Can you walk us through the current utility models for OGN in 2025?OGN captures the value generated by Origin’s products. As of June 30th, 2025, all protocol revenue and DAO assets are now used to buy back OGN on the open market, creating sustained buying pressure. Stakers of OGN (xOGN) earn from these buybacks, making the token directly tied to the protocol’s success. On top of this, OGN holders govern the DAO, deciding how revenue is deployed and what products are built next.6. How is the OGN token being used in governance and staking today? Has utility grown meaningfully since 2022–2023?Utility has grown dramatically. Previously, staking rewards were subsidized with a fixed treasury allocation of OGN. Now, rewards are entirely fueled by protocol revenue through ongoing buybacks. This shift means staking OGN doesn’t dilute supply but instead accrues real yield from the performance of Origin’s products.7. Many community members remain unclear on the distribution model, unlock schedule, and long-term supply of OGN. Can you share updated insights or changes to your tokenomics?The biggest change is that staking rewards no longer rely on new emissions. Since launching buybacks, 100% of rewards come from protocol revenue, ensuring no additional inflation and aligning token value directly with revenue growth. Long-term supply is capped, and the DAO has no plans for new token unlocks beyond the existing schedule.8. How does the protocol ensure value accrual to OGN holders in the long term?OGN is designed for long-term alignment. As more revenue flows through Origin’s products, more OGN is bought back and distributed to stakers. This creates a self-reinforcing flywheel where product success drives buy pressure and rewards stakers.Governance, Regulation & Community Transparency9. With DAO participation often low across Web3, how are you improving decentralized governance and token holder engagement in the OGN DAO?Origin’s University Governance Program (UGP) brings top blockchain clubs into OGN DAO to research, vote, and shape proposals. It’s a fresh approach to strengthening governance and engaging the next generation of builders. Soon, we’ll be expanding this program to include other organizations outside of University clubs.10. What internal or third-party audits, transparency reports, or real-time dashboards are in place to build trust with your community and institutional partners?Origin works with top auditors including OpenZeppelin, Trail of Bits, and Electisec to ensure protocol security for every smart contract upgrade. The protocol also has a $1M bug bounty through Immunefi, crowd-sourcing security through white hat hackers. On top of this, there is a 48-hour time lock on all upgrades made to Origin’s core yield products.DeFi and the Future of On-Chain Yield11. Where do you see the DeFi space heading in the next 2–3 years — and what role will Origin play in areas like yield-earning assets and RWAs?Our industry is on the cusp of receiving an enormous influx of capital as the lines are blurring between DeFi and traditional finance. With the advent of digital asset treasuries (DATs) and RWAs, new demand is emerging for sustainable, scalable, real yield.Origin is positioned at the center of this shift—our products already provide superior yield opportunities for ETH holders and our expansion to Plume is the first step toward serving the projected multi-trillion dollar RWA market by offering increased capital efficiency through Origin's novel token design.12. What have been your most impactful ecosystem integrations in the past year? How have they contributed to real-world adoption, volume, or visibility?Key partnerships with Morpho, Pendle, Silo, and Sonic have expanded Origin’s reach, driving adoption, liquidity, and visibility across multiple chains. These integrations let users deploy Origin’s tokens in various DeFi strategies—earning boosted yield, providing liquidity, and using Origin assets as collateral.2025 Goals & Vision13. What key product launches, adoption metrics, or DAO milestones will define a successful 2025 for Origin?A successful 2025 means scaling protocol revenue to $10M annually, which directly drives buybacks and staking rewards. We also expect to see higher staking participation as OGN’s value capture model gains traction, alongside new product rollouts and DAO initiatives that strengthen Origin’s position across chains.14. As a team that has endured through multiple market phases, what’s your vision for Origin Protocol — and what legacy do you want to leave in the Web3 economy?Our vision for Origin is to be the blueprint for a sustainable, revenue-generating DeFi protocol where token holders benefit directly from growth. The legacy we want to leave is simple: a protocol that proves you don’t need hype cycles or emissions to build lasting value in Web3.
