Origin Protocol OGN

Payout, not buybackRank#21in Low payout▼4Score39

Holders revenue is paid out to stakers, not used to buy the token on the market.

Liquid Staking, Ethereum, Base, Sonic, 193 days of data

Low payout: less than $100k to holders in 30 days, or payouts on fewer than 8 of the 30 days (for a token that pays in cycles of a week or longer: more than one of the payouts its cycle predicts missed); ranked within this group

Market cap

$16.4M

price $0.0217 · 7d −8.3% · 30d −37.0%

FDV $30.6M (1.9× market cap)

source defillama

Counted per year

$319k

holders revenue of the last 30 days, $53k, × 365 ÷ 30, × type factor 0.5 (payouts count 50%)

Distributionbuyback share 100%

Pays out 3.9% of its market cap a year, using 100¢ of every $1 it earns.

Not a buyback: counts for 50% in the multiple (type factor 0.5), so the denominator is $319k instead of $639k.

Multiple

51.1×

peer median 18.5× (Staking, 5 tokens), against 51.1× here

Run-rate

55.0×

last 7 days $11k × 52 × 0.5 (type factor) = $297k a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 51.1× (type factor 0.5: payouts count 50%), 2.8× more expensive than its Staking peers (median 18.5×, 5 tokens). The group's largest earner Lido trades at 18.5×: 2.8× dearer per dollar returned to holders. On total revenue: 25.6×, 1.5× dearer than the revenue peer median.
Distribution
Distribution: Revenue is paid out to stakers or holders (often in another asset); no buy pressure on the token. Holders got $53k of $53k revenue in 30 days → buyback share 100%. DefiLlama: “OGN Staking Rewards: Performance fee forwarded to OGN stakers.”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 4% of the month's holders revenue; paid to holders this week: 80% of the best week in 90 days. Revenue −10% over 7 days and −9% over 30 days, price −37% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

No flags today: no active sell signal, and nothing in the data of this token needs a caveat.

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $53k / $53k; last 30 closed days
To holders: Pays out 3.9% of its market cap a year
FDV / dilution: $30.6M / 1.9×; FDV ÷ market cap
Price 7d / 30d: −8.3% / −37.0%
Revenue growth 7d / 30d: −10% / −9%; versus the period before
Divergence: 0.00; revenue growth minus price growth, 30d
DEX liquidity: $1.9M; DexScreener, representative pools
24h volume: $1.7M; all markets, CoinGecko
Unlocks 30d: —; no unlock schedule for this token
Revenue multiple: 25.6×; market cap ÷ revenue per year
Fee multiple: 5.1×; market cap ÷ fees per year
Distance to peak: 80%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)

Multiple over time

today 51.1× (scored) · peer median 18.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

No signals for this token yet.

Versus peers

Staking (merged group) · 5 tokens · median multiple 18.5× · Lido is valued 15.7× higher. Per dollar that counts for holders, Origin Protocol is 2.8× dearer.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Marinade	Buyback	5.0×	2.5×	50%	$191k	$11.7M	−14%
SSV Network	Mixed	12.1×	9.1×	100%	$271k	$30.0M	−12%
Lidoleader	Buyback	18.5×	7.0×	37%	$0	$257.1M	−5%
Origin Protocolthis token	Distribution	51.1×	25.6×	100%	$53k	$16.4M	−9%
Kinetiq	Mixed	77.6×	34.2×	59%	$133k	$94.7M	−37%

Score build-up39 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

39of 100#21▼4top 27%

Valuation 9.1Momentum 11.0Divergence 0.0Quality 18.9= 39.0

Valuation35%

26Valuation 26.1: HR half 19.1 (multiple 51.15×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 33.0 (revenue peer value 0.69×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

44Momentum 44.0: m = 0.5·g7 −0.109 + 0.3·(ln(day jump 0.97) clamped ±1.5 = −0.034) + 0.2·g30 −0.098 = −0.084; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

0Divergence 0.0: d = g30 − p30 = 0.000; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

95Quality 94.6: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 4% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.80 → 83.9 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from

Revenue source: 4 active children; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 12, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token4 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Origin Dollar
Yield Aggregator · Ethereum
type distribution · source label
“OGN Staking Rewards: Performance fee forwarded to OGN stakers.”
Performance fee distributed to OGN stakers.
OGN Staking Rewards
Performance fee forwarded to OGN stakers.
adapter on GitHub ↗
Origin Ether
Liquid Staking · Ethereum, Base
type distribution · source label
“OGN Staking Rewards: Performance fee forwarded to OGN stakers.”
Performance fee distributed to OGN stakers.
OGN Staking Rewards
Performance fee forwarded to OGN stakers.
adapter on GitHub ↗
Origin ARM
Yield · Ethereum, Sonic
type distribution · source label
“OGN Staking Rewards: Performance fee forwarded to OGN stakers.”
Performance fee distributed to OGN stakers.
OGN Staking Rewards
Performance fee forwarded to OGN stakers.
adapter on GitHub ↗
Origin Sonic
Liquid Staking · Sonic
type distribution · source label
“OGN Staking Rewards: Performance fee forwarded to OGN stakers.”
Performance fee distributed to OGN stakers.
OGN Staking Rewards
Performance fee forwarded to OGN stakers.
adapter on GitHub ↗