Bond Contract

ORIGIN sells two main types of bonds: liquidity and reserve.

·Liquid Bond Sales

in which ORIGIN users use LGNS-USDT LP to trade with the ORIGIN protocol; it is called purchasing liquidity bonds. The protocol obtains ownership of LP, and users lose ownership of LP. Users will receive the transaction price to purchase more LGNS tokens as compensation. The band has a 5-day exercise period. After the exercise period, the user will receive LGNS tokens.

If users want to purchase liquid bonds, they must first add liquidity to the LGNS-USDT trading pair, obtain LP tokens, and then use LP tokens to purchase liquid bonds.

The protocol obtains the ownership of the LP, and at the same time, the protocol calculates the LP's risk-free value ( RFV). LP risk-free value is measured in LGNS quantity.

RFV=（LP/Total LP）*2sqrt(Constant Product)

{Constant Product is the constant product of the LP}

The agreement then calculates the execution value ( Executing Price) of the bond, and the execution price is measured in LGNS quantity.

Executing Price=RFV/Premium

{Premium≥1}

Premium is the bond premium, determined by the total system debt and a scaling variable that relates the bond price to the number of bonds outstanding (each bond has a 5-day exercise period).

Premium=1 +( Debt RAio*BCV)

Debt RAio=Bonds Outstanding/ LGNS Supply

{BCV is the protocol-adjustable inflation rate}

{Bonds Outstanding: Number of outstanding bonds}

Liquid bonds give users a discount ( Discount); users have corresponding discounts when purchasing bonds.

Proportional rate of return ROI: the greater the discount, the higher the rate of return. The band has a 5-day exercise period. After the exercise period, the user will receive LGNS tokens. This process is irreversible.