Origin has announced a new ERC20 token called Origin Dollar Governance (OGV) that will be the new governance and value accrual token for Origin Dollar (OUSD). Crypto.com supports the airdrop of the OGV token to Origin Protocol (OGN) holders on the Crypto.com App and Exchange, and will distribute OGV tokens based on the total OGV received by Crypto.com.
The final snapshot time will be determined by the OGN team, and is expected to take place between 5 July 2022, 00:00 UTC and 12 July 2022, 23:59 UTC. Crypto.com will take the snapshot of OGN tokens held by users once we receive the exact snapshot time from the OGN team. OGN tokens that are pending deposits or withdrawals at the time of the snapshot will not count towards users’ OGN balances. The Crypto.com Exchange will suspend margin borrowing for OGN/USDT and OGN/BTC starting from 05 July 2022, 00:00 UTC, and the snapshot of the Margin Wallet will be taken on this date. We will resume margin borrowing for these pairs after the snapshot is taken.
To be eligible to receive the OGV token airdrop, users must hold a minimum of 1 OGN (excluding those in pending trade orders) in their Crypto.com App or Exchange account. Users who hold OGN on Cronos Chain must send the tokens to their Crypto.com App or Exchange account before the snapshot time to be eligible to receive the airdrop.
We will closely monitor the situation and distribute the OGV tokens once the snapshot is taken and no issues are found. All borrowed OGN will not be eligible for the airdrop. ALL OGV tokens will be distributed to eligible clients’ Crypto.com App or Crypto.com Exchange Spot Wallets (including Margin Wallet holders with OGN) accordingly.. Kindly refer to status.crypto.com for updates.
The OGV token airdrop is subject to the successful execution of the recently issued proposal for the OGN Governance Portal (Details). Crypto.com reserves the right to cancel or amend the airdrop rules at our sole discretion and shall not be liable should there be any changes made on its distribution plan.