Stablecoin minting and nonfungible tokens (NFTs) have been the latest trending topics in the cryptocurrency market and protocols like Terra (LUNA) have led the discussion on why stablecoins should be backed by assets like Bitcoin (BTC) and Avalanche (AVAX).\u00a0<\/p>\n
One project that appears to be following Terra’s lead is Origin Protocol (OGN), a platform focused on NFTs and decentralized finance. <\/p>\n
Data from Cointelegraph Markets Pro and TradingView shows that over the past month, the price of OGN has rallied 143% from a low of $0.25 on March 10 to a daily high of $0.725 on April 19.<\/p>\n Three reasons for the OGN rally include a reorganization of staking rewards, developments in the protocol’s Origin Dollar (OUSD) stablecoin and the expansion of its NFT ecosystem. <\/p>\n Holding and staking OGN tokens is set to become more lucrative following the passage of a governance proposal that will distribute Origin Story platform fees to stakers. <\/p>\n \ufe0f A recent governance proposal was passed that will allow Origin Story platform fees, whether primary sales commissions or secondary trading\/royalty fees, to be distributed to $OGN<\/a> stakers after an upcoming re-launch of our staking program.<\/p>\n Read more https:\/\/t.co\/63WlOPTkGH<\/p>\n \u2014 Origin Protocol (@OriginProtocol) April 12, 2022<\/a><\/p><\/blockquote>\n Origin Story is the protocol’s NFT launchpad that has been utilized by musicians, celebrities and creators to mint new lines of NFTs for interested parties to purchase. <\/p>\n The proposal, which was put forward by the core development team at Origin, will establish a direct connection between Origin Story\u2019s product traction and revenue growth and OGN performance and it passed with 100% approval from voting participants. <\/p>\n Following its full implementation, OGN stakers will begin to accrue rewards from primary sales commissions and secondary trading and royalty fees on Origin Story. <\/p>\n Another development providing a boost for OGN is an increase in the capabilities of the Origin Dollar stablecoin, plus the addition of a governance token and a new exchange listing. <\/p>\n In March, OGN holders voted on a proposal for the creation of a new governance token for OUSD that will be distributed to OGN hodlers. <\/p>\n Important governance proposal for all $OGN<\/a> holders: <\/p>\n Should we launch a new governance token for $OUSD<\/a> with a 1:1 airdrop to all $OGN<\/a> holders?https:\/\/t.co\/d80l6Kh2qf<\/p>\n \u2014 Origin Protocol (@OriginProtocol) March 10, 2022<\/a><\/p><\/blockquote>\n The measure passed the community vote and helped spark the mid-March rally in OGN price after traders accumulated the token to qualify for the airdrop. <\/p>\n On top of the momentum generated by the governance token launch, OUSD has also benefited from a listing on Gate.io, which is offering OUSD holders extra yield as an additional way to earn aside from the 15% that OUSD holders earn by simply holding the token in a wallet. <\/p>\n Related: <\/em><\/strong>How Web3 is redefining storytelling for creators and fans through NFTs<\/em><\/strong><\/p>\n A third factor helping to boost the price and on-chain activity for Origin Protocol is the continued expansion of its NFT ecosystem, which has seen multiple new projects launch in the past month. <\/p>\n We\u2019re proud to join forces with @praise_pals<\/a> to bring this collection of 8,888 unique characters to Origin Story. Praise Pals has partnered with celebrities, brands, & thought-leaders to create one-of-a-kind Web3 experiences to give back back to community!https:\/\/t.co\/USbKiRvCf8<\/p>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/ac121671-5573-4d4a-8ff7-a0f06ff733c6.png\"\/)
Updated staking rewards<\/h2>\n
\n
Origin revamps its stablecoin<\/h2>\n
\n
Growth of the Origin Protocol NFT ecosystem<\/h2>\n
\n
![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/fbe00a5d-1227-4d5c-a7b9-a5818f5cc674.png\" "\\"\\"\/")