OGN DAO has announced that it plans to buy back OGN tokens from the market using DAO treasury assets worth over $3 million.
According to the statement, the new management proposal containing this plan was unanimously accepted by the community.
This move marks a significant shift in the value transfer mechanism in the Origin Token ecosystem, following the previously approved proposal to “direct 100% of protocol revenues to OGN buybacks.”
In order to provide sustainable returns to token holders, The DAO is transitioning to a model where the token supply is halted and instead supported by protocol revenues and real returns from The DAO assets.
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Over the next 12 months, over $3 million (at the time of writing) of assets from the DAO Treasury will be used to buy back OGN. These assets will primarily be converted into Origin’s own assets, OUSD or OETH. This structure aims to support regular buybacks while preserving the treasury’s potential for appreciation.
Following the development, the OGN price rose by approximately 7% in a short time but later retreated.
*This is not investment advice.
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