Developers of the Surprise Altcoin Announced They Will Conduct a Large Token Buyback, Causing Price Volatility!

OGN DAO announced that it plans to buy back OGN tokens from the market using the assets of its treasury, which has a value of over 3 million dollars.

According to the announcement, the new management proposal that includes this plan was unanimously accepted by the community.

This step signifies a significant change in the value transfer mechanism within the Origin Token ecosystem, following the previously approved proposal to direct "100% of protocol revenues to OGN buybacks."

The DAO is transitioning to a model that aims to provide sustainable returns to token holders by halting token issuance and instead relying on protocol revenues and real returns generated from DAO assets.

In the next 12 months, over 3 million dollars worth of assets from the DAO Treasury will be used for OGN buybacks, based on the values at the time this news was written, (. 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 value appreciation.

After the development, the OGN price increased by approximately 7% in a short time but then pulled back.

*This is not investment advice.

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