The price of Origin Protocol (OGN) jumped by around 10% today, attracting the attention of crypto market observers and sparking curiosity about the factors behind this surge.

On April 17, the value of OGN cryptocurrency surged, a development that has generated discussions in the crypto community about the potential causes of this price rally.

This price increase follows a significant announcement from the Origin DeFi DAO, which could potentially influence the future direction of the protocol. Moreover, the positive sentiment in the broader crypto market today might have also contributed to the gains.

OGN Price Rises After Merger Proposal Approval

Recently, Origin Protocol announced a major decision that has generated excitement among crypto enthusiasts. The proposal to merge OGN and OGV has been approved by the Origin DeFi DAO, marking a significant milestone for the protocol.

This strategic move aims to consolidate value and simplify the protocol's offerings under a single banner, signaling a new era of growth for Origin.

The merger, which received strong support from the community, is expected to bring substantial benefits for all stakeholders. By consolidating OGV into OGN, Origin Protocol is positioned to become a major player in the decentralized finance (DeFi) landscape.

With OGN at the forefront, stakeholders can look forward to governing a significant portion of Total Value Locked (TVL) and earning a share of protocol revenue from various products, including OETH and OUSD.

What's Next for Origin Protocol?

The merger sets the stage for the integration of PrimeStaked, a robust liquid staking platform, into Origin's ecosystem, offering users enhanced liquidity and support.

OGN's utility is set to expand significantly, as it takes center stage in governing Origin's Automated Redemption Manager (ARM), a cutting-edge hub for seamless liquidity provision.

As the protocol prepares for the next phase of its evolution, users can anticipate voting on a governance proposal to finalize OGN's upgraded tokenomics. If approved, migration mechanisms will be established to facilitate the seamless conversion of OGV holdings to OGN, ensuring a smooth transition for all stakeholders.

At the time of writing, OGN traded at $0.156, up 9.71% over the last 24 hours, while its trading volume from yesterday soared 28.52% to $19.19 million. However, despite the recent rally, the crypto has lost more than 30% in the last seven days amid a broader crypto market crash.