The prices of four altcoins surged by double digits following their debut on leading cryptocurrency exchange Coinbase Pro.
Within 24 hours of the listings, IoTex (IOTX), Tribe (TRIBE), Orion Protocol (ORN) and Quickswap (QUICK) rallied as much as 20% to 75%.
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Coinbase Pro says that the four dollar-paired tokens are now in ‘full-trading mode’ on its platform.
IoTex is a platform whose goal is to link Internet of Things (IoT) devices and decentralized applications while TRIBE is the governance token of the Fei Protocol. Orion Protocol is a decentralized finance (DeFi) platform while Quickswap is a decentralized exchange (DEX).
“Our IOTX- USD, IOTX-USDT, IOTX-EUR, ORN-USD, ORN-USDT & TRIBE-USD order books are now in full-trading mode. Limit, market and stop orders are all now available.”
According to CoinGecko, IOTX surged by 75% after recording a low of $0.080744 and a high of $0.141670 within a 24-hour period.
ORN rose by 25% after reaching a low of $9.11 and a high of $11.43 in a day.
QUICK appreciated by 20% after hitting a 24-hour low and high of $580.94 and $694.53 respectively.
TRIBE recorded the lowest gain among the four after appreciating by approximately 19%. The governance token recorded a 24-hour low and high of $0.709872 and $0.842668 respectively.
The centralized cryptocurrency exchange says it started accepting inbound transfers of the tokens on August 10th. The four are not yet available on Coinbase.com or the exchange’s mobile apps.
In the first week of August Coinbase added support for two altcoins, which also surged after their listings. These were the payments token Alchemy Pay (ACH) and the native token of blockchain gaming platform and non-fungible token (NFT) marketplace PlayDapp (PLA).
In the past 24 hours, IOTX is up 26.54% at $0.1177, TRIBE is down 18.84% at $0.6795, ORN is down 12.86% at $8.78 and QUICK is down 13.45% at $547.97, according to CoinMarketCap.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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In collaboration with Binance Smart Chain, Orion Protocol has become the first partner to integrate Binance Bridge into its trading terminal via Orion Bridge. In doing so, Orion Protocol has become the first to allow users to efficiently trade across the ETH ecosystem on Binance Smart Chain, enabling accessibility of ETH assets without ETH network fees and latency.
As it stands the market is incredibly fragmented, with different assets spread across different exchanges built on different blockchains. While projects and protocols increasingly work to achieve interoperability, the industry is still too siloed to evolve to a state of full-interoperability without a solution that sits across the entire market.
As a chain-agnostic liquidity aggregator, that’s exactly what Orion Protocol is building: a decentralized gateway to the crypto market to include every centralized exchange, decentralized exchange and swap pool. While Orion works towards its goal of integrating every major chain and exchange, it is the only liquidity aggregator in the market to provide decentralized access to centralized exchange liquidity. Currently built on Ethereum andBinance Smart Chain, Orion is underway with integratingCardano,Polkadot,Fantom,Avalanche,HECO,Elrond, and more.
Binance Bridge creates a gateway to cross-chain liquidity from other blockchains onto the Binance Chain and Binance Smart Chain dApps. The number of projects built on Binance Smart Chain continues to grow, but these projects (including PancakeSwap) are yet to integrate Binance Bridge into their platforms, requiring users to use an external bridge with a number of steps in place in order to effectively trade cross-chain.
Meanwhile, Orion Protocol’s integration of Binance Bridge into Orion Bridge allows for this to occur seamlessly on Orion Terminal. With Orion’s integration of BSC already in place, integrating the Binance Bridge into Orion Terminal via Orion Bridge improves interoperability between the Binance Smart Chain ecosystem and Ethereum.
While many decentralized aggregators and exchanges work to enable cross-chain trading, Orion Protocol is the first to make significant strides in doing so, allowing users to trade assets across the ETH ecosystem via other chains in its first iteration of Orion Bridge. This enables traders greater flexibility, accessibility, and affordability in trading, allowing users to trade ERC20 tokens without the associated latency and ETH network fees.
Not only does BSC halve wait times for off-chain order execution and on-chain order settlement, transactions on BSC can cost135x lessthan they currently cost on Ethereum, making commissions for deposits, withdrawals, order execution, etc. on the terminal negligible.
Users will be able to trade ERC20 tokens listed on Orion Terminal directly from their ETH wallet on Binance Smart Chain using a ‘helper wallet’, with all settlement on Binance Smart Chain. Users need only to pay Ethereum network fees when depositing into the smart contract on Orion Terminal; all subsequent trading and withdrawals will benefit from the marginal network fees of BSC.
Additionally, integrating Binance Bridge enables support of native tokens like BTC, LTC, DOT, and others; allowing users to trade native (not wrapped) tokens directly on the Terminal via Metamask.
As a chain-agnostic aggregator, Orion Protocol has already integrated Ethereum and Binance Smart Chain into the protocol, with Cardano, Polkadot, Fantom, Avalanche, HECO, and Elrond underway, with more to be announced. As other chains successfully deploy their own cross-chain bridges, these will be integrated into Orion Bridge in turn, as Orion Protocol works towards a seamless, cross-chain trading solution that encompasses the entire crypto market.
Furthermore, Orion seeks to solve the fragmentation not only of crypto markets, but NFTs marketplaces, and assets from traditional finance by eventually aggregating them into one decentralized platform for traders.
About Orion Protocol
Built on the most advanced liquidity aggregator ever developed, Orion Protocol will aggregate the liquidity of every single crypto exchange into one decentralized platform: providing a decentralized gateway to the entire digital asset market. In doing so, they’re building a protocol on which to bridge the worlds of crypto, traditional finance, and real-world assets.
A mid-cap crypto asset that is up over 1,250% since the start of the year is now teaming up with smart contract platform Cardano (ADA).
This week, Orion Protocol (ORN) announced on Twitter that it is partnering with research and development outlet Input Output (IOHK) to integrate its services with the Cardano blockchain.
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Since January, the Orion token has performed well, rising from a low of $2.16 to a high of $29.25 this March. The project currently has a $346 million valuation and a $1.6 billion fully diluted valuation.
Orion Protocol is an aggregator that will allow crypto users to access liquidity across centralized and decentralized exchanges at once. The project will be the first liquidity aggregator to develop on top of Cardano.
Orion adds that partnering with Cardano will allow the protocol to access “far greater interoperability, scalability, and performance of the protocol and each solution.”
Cardano was recently overtaken by Polkadot (DOT) as the top smart contract Ethereum competitor by market cap. However, it is just roughly $2 billion shy of that second-place spot.
Cardano founder Charles Hoskinson says that the Alonzo testnet, which will bring smart contract capabilities to the sixth-largest crypto asset, may launch as early as this month.
“For the first time ever, publicly, people will be able to write smart contracts and deploy them on Cardano.”
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As the decentralized finance (DeFi) industry grows, new exchanges and liquidity pools constantly emerge. For the average investor, keeping track of all of them and finding the best yield opportunities has become increasingly complicated.
The situation becomes even worse as centralized exchanges also offer staking opportunities. Therefore, the need for a liquidity aggregator that connects to several decentralized and centralized exchanges has become quite clear. Orion Protocol aims to provide access from a single platform for users to trade and swap pools.
Instead of competing with exchanges, the service aggregates order books and liquidity into one decentralized platform. When in place, Orion Terminal will offer Binance and KuCoin trading without the need for any accounts or Know Your Customer (KYC) verification. Moreover, it will provide connectivity to both Ethereum and Binance Smart Chain.
The Orion Terminal aims to go live on March 31, and since February, Orion Protocol’s ORN token has rallied by 730%.
ORN/USDT on Binance. Source: TradingView
According to the Orion Protocol blog, users will trade and stake without giving up their private keys, using MetaMask, Fortmatic and Coinbase wallets. By depositing funds into the smart contract, users will be able to trade across exchanges with no need for multiple accounts.
As for the staking and liquidity pool aggregation services, final testing and a mainnet are expected for mid-2021. The project also has amassed over 40 partners, bringing additional volume to the protocol and boosting potential staking rewards.
Expansion plans include derivatives, leveraged exchange-traded funds (ETFs), nonfungible tokens (NFTs), lending, margin trading and staking for many digital assets.
This all sounds very enticing, but promises of Bloomberg-like crypto trading terminals have been coming and going since 2017, and none of those have lived up to expectations. Furthermore, in October 2020, MetaMask launched its own decentralized exchange aggregation service.
Furthermore, the number of non-KYC centralized exchanges is declining every year, leaving little room for Orion Protocol to expand its service.
In short, DEX aggregation is an extremely competitive sector with little to no entry barriers. Therefore, the ORN token might have priced in some market share that may never come to fruition.
Balancer TVL and trading volume. Source:DeBank
As a comparison, the Balancer Protocol Governance Token (BAL) has a $1.7 billion total value locked (TVL) and $50 million in daily average volume. Meanwhile, BAL’s market capitalization stands at $743 million, 28% above Orion Protocol’s yet-to-launch product.
The views and opinions expressed here are solely those of theauthorand do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Orion Protocol has announced that it will launch an aggregator terminal for non-fungible tokens, the first of its kind in the cryptocurrency sector. The aim is to enhance accessibility to the market, as users will be able to trade a broader array of tokens for NFTs. As a complement to the terminal, Orion Protocol will also operate an oracle for NFTs to provide fair pricing data.
Founded in 2019, Orion Protocol aims to overcome the issue of fragmented liquidity in the cryptocurrency markets. Rather than hopping about between exchanges to enable a particular token swap, the protocol aggregates liquidity from all centralized and decentralized trading venues into one terminal. The purpose is to create a more seamless user experience, ensuring the best prices on the market with deeper liquidity.
Now, Orion has announced that it will be including NFTs in its aggregator service, making it the first in the industry to provide a one-stop-shop for NFTs across all marketplaces and platforms. As things stand, NFT liquidity is also fragmented across many different trading venues such as Nifty or Sorare. Furthermore, users can generally only pay in a limited range of cryptocurrencies, mainly BTC or ETH. With the Orion NFT terminal, users will be able to browse all NFTs for sale across the entire market in a single interface and pay for their NFT purchases in any ERC20 token.
The aim is to provide more accessibility, liquidity, and volume to the burgeoning NFT market. It offers the potential to appeal to a broader range of users who may be intimidated by needing to jump between multiple trading venues or put off by not being able to pay in the token or currency of their choice.
Securing Long-term Sustainability
Alongside the NFT terminal, Orion Protocol will also operate a price oracle dedicated to NFTs. It will feed price data back to the marketplaces and ensure prices are fair based on sales and market sentiment. In doing so, Orion hopes to secure long-term sustainability for the NFT sector.
The move is timely indeed, as NFTs have been undergoing meteoric growth over recent months. The most talked-about event so far is the recent auction of 5,000 pieces of digital art produced by prolific creator Mike Winkelmann, aka Beeple. The sale fetched a staggering $69 million, and it was laterrevealedthat the buyer was MetaKovan, the pseudonymous founder of MetaPurse.
However, this could just be the tip of the iceberg. Following the record-breaking Beeple sale, British artist Damian Hirstannouncedhe was planning to launch a “secret art project” using NFTs, which he said has been five years in the making. Hirst also recently sold a collection of cherry blossom prints, for which he accepted cryptocurrencies.
However, it’s not just art that’s finding a home in NFTs. A rare digital collectible card featuring the soccer player Cristiano Ronaldo recentlysoldfor nearly $300,000 via the Sorare marketplace. Elsewhere, a performing arts company called Beauty in the Streets hastokenized dance movesas animated emojis that people can use in apps and video games, proving that the imagination is the only limit when it comes to the possibilities for NFTs.
Orion Protocol will launch the full version of its mainnet in the coming weeks.
March 2, 2021 — Orion Protocol, the liquidity aggregator building a decentralized gateway to the entire crypto market, has revealed Binance Smart Chain (BSC) as the latest chain to be integrated into the protocol, with more chains to be announced in the coming weeks.
Phase One of Orion Terminal launched on Ethereum on Dec 15, granting users access to the liquidity of major centralized exchanges such as Binance, KuCoin, and BitMax without the need for an account on those platforms. With a full public launch slated for the end of March, incorporating Binance Smart Chain will benefit Terminal users principally through reduced costs and increased transaction speeds.
“As a decentralized gateway to the entire digital asset market, we have always been chain-agnostic,” said Orion Protocol CEO Alexey Koloskov. “Expanding to Binance Smart Chain and other blockchains is a natural move for Orion Protocol, as it gives our users more freedom to transact across the crypto sphere.
“Binance Smart Chain has attracted huge interest since launching last September, from projects and from end-users. With transaction fees a fraction of what you’d expect to pay on Ethereum, and a familiar user experience, BSC is making life easier for cryptocurrency traders. At Orion Protocol, we have plans to become a validator on the BSC network to take a more active role in its advancement.”
The implementation of the Binance Smart Chain into the Orion Terminal is already underway, with the latest updates to the Terminal set to be live imminently. Orion’s expansion to BSC promises to halve wait times for off-chain order execution and on-chain order settlement.
Orion Protocol will provide decentralized access to all major digital asset exchanges on the market, including centralized exchanges such as Binance and decentralized alternatives like Uniswap. Through Orion Protocol, users can access thousands of trading pairs at the best possible price, with near-zero slippage. They also get to trade across the entire market from the safety of their own wallet.
The Orion Protocol team is continuing to work on the implementation of theElrond blockchainand smart contracts, with a number of other chains to be announced in the coming weeks. While many multi-chain aggregators require end-users to select the separate chains and trade on the tokens available on that chain, the multiple chains integrated into Orion Terminal remain in the back-end for a seamless user experience more akin to that of a CEX – but without surrendering your assets.
About Orion Protocol
Orion Protocol aggregates the liquidity of the entire crypto market into one decentralized platform and represents a non-custodial gateway to crypto for traders throughout the world. In addition, the Protocol will offer private banks, wealth managers, and funds a compliant and non-custodial point of access to the digital asset crypto market. With the ORN token at its core, Orion has developed 17 different revenue streams across its stack of solutions.
Bitcoin’s (BTC) strong bull run and the immense popularity of the decentralized finance space have attracted several new investors to cryptocurrencies. A report from Crypto.com shows a massive increase in crypto users as the figure rose from 66 million in May 2020 to 106 million by January this year.
Crypto market data daily view. Source:Coin360
Contrary to the popular notion that new crypto users are mostly speculating on the price, data from Unchained Capital shows that investors who bought in the past three to five years are still holding and are not yet tempted to book profits.
Unlike the 2017 bull market where many low-cap altcoins rallied, the current bull trend has rewarded projects with strong fundamentals. Let’s have a look at three such tokens and also analyze their charts.
HOT/USD
Holochain (HOT) aims to provide the solution for the scalability problems which may be a limiting factor in the crypto sector. Holochain wants to give control of data and privacy back to the people, eliminating large corporations and middlemen.
To achieve that, Holo, a distributed peer-to-peer hosting platform, acts as the link between the web and the Holochain apps. Holochain wants to make this technology available to users who can access the apps in a web browser. If this needs to be done, the technology must have vast scalability, fast speeds, and it should also be financially viable. The team at Holochain believes they are on the path to achieving this goal.
As part of the process, Holochain launched an app called Elemental Chat that runs on HoloPorts. The team is also planning to enable web users to log into Elemental Chat through the HoloPort. This will put the protocol’s scalability claims to the test and help to further fine-tune the project.
The team has also outlined the progress on the upcoming milestones of the Holo suite of products that will be progressively released in the future. If the team delivers on its promises, the protocol may attract investor attention.
HOT surged from $0.0007817 on Feb. 8 to an intraday high at $0.00424 on Feb. 21, a 442% rally within two weeks. This up-move had pushed the relative strength index (RSI) above 92 on Feb. 21, indicating the market was extremely overbought in the short term.
HOT/USDT daily chart. Source:TradingView
That resulted in profit-booking on Feb. 22 and 23, which pulled the price down to the 61.8% Fibonacci retracement level at $0.0021028. But the positive sign is that the long tail on the candlesticks on both days showed strong buying at lower levels.
However, traders who are stuck at higher levels are dumping their positions on rallies, as seen from the long wick on the Feb. 24 candlestick.
After the large intraday range of the past few days, the HOT/USD pair has formed an inside day candlestick pattern today, indicating a balance between supply and demand. The pair may now consolidate for a few days.
If the bulls can push the price above $0.00363, a retest of $0.00424 is possible. A breakout of this level could start the next leg of the up-move that may reach $0.0055629.
Conversely, if the bears sink the price below $0.0028, the pair may drop to the 20-day exponential moving average ($0.0020).
ORN/USD
As the decentralized finance space grows, many new projects are being announced on a regular basis. It becomes difficult for investors to keep track of all of them. Hence, a liquidity aggregator that connects to several decentralized and centralized exchanges in order to swap pools and provide access from a single platform may be sought after and this is what the Orion protocol (ORN) aims to do.
The protocol plans to offer its investor’s a variety of revenue streams. The Orion Liquidity Boost Plugin offers increased liquidity to its partners and has already onboarded Polkastarter and many other blockchain projects.
Orion’s Launchpad Liquidity has partnered with DAO Marker and DuckDAO, which will enable projects launch incubated projects on the launchpad’s own platform
Orion recently launched the staking calculator, allowing ORN token holders to calculate the staking rewards and attain APY’s of up to 38%.
After launching the first phase of the Orion Terminal’s mainnet on Dec. 15, the team plans to add several features like derivatives, leveraged ETFs, contract trading, NFTs, lending, margin trading and staking of any digital asset by 2021.
As more products are launched, the revenue is likely to increase and that may benefit ORN token holders.
ORN has been in a strong bull run this year. It rallied from $4.3014 on Feb. 8 to an intraday high at $15.20 today, a 253% rally in just over two weeks. As a result, the RSI has surged to above 91 levels, indicating the possibility of a short-term fall or a range-bound trading action.
ORN/USDT daily chart. Source:TradingView
The bears tried to stall the rally on Feb. 22 and Feb. 23, but the long tail and the positive closes of each day show that the bulls purchased the dips and resumed the rally.
However, today it looks as if traders booked profits and a retest of the 38.2% Fibonacci retracement level at $11.4379 is possible.
If the ORN/USD pair rises from this support level, it will indicate strong demand at lower levels. That could result in a retest of $15.20 and a breakout of this resistance may propel the pair to $20.
On the other hand, a break below $10.2759 could pull the price down to the 20-day EMA ($8.21). Such a deep fall could delay the next leg of the up-move.
DODO/USD
The DeFi space has been attracting investor attention in the past few months. However, the growing popularity has clogged the Ethereum network gas fees have soared to unsustainable levels. Therefore, traders are searching for options that are on competing networks and charge fewer fees. Binance Smart Chain has been one of the major beneficiaries of this trend.
DODO is a decentralized exchange that uses the Proactive Market Maker (PMM) algorithm, which the team claims is better than automated market makers. DODO offers several features such as trading, aggregation, initial DEX offerings, and mining.
DODO introduced Crowdpooling in January, and this feature aims to provide equal opportunity to investors by addressing the biggest issues being faced by new projects. If successful, Crowdpooling will help prevent frontrunning, insufficient liquidity, and the high costs associated with attracting liquidity. The first phase of the DODO V2 Beta crowdfunding pool called ‘ShuttleOne’ was a huge success as it was oversubscribed by 173 times.
DODO token was listed on Binance on Feb. 19 following the DODO V2 Public Beta launch on the Ethereum Mainnet and Binance Smart Chain on Feb. 22. There are also several incentive programs available on BSC.
DODO price rallied from an intraday low at $2.788 to an intraday high at $10 on Feb. 19. The token had strong listing gains but since then, the price has been in a corrective phase.
DODO/USD 4-hour chart. Source:TradingView
The bulls attempted to start a rebound off $3.50 on Feb. 23, but the bears continue to sell on minor rallies, indicating a negative sentiment. However, a minor positive is that the bulls have been defending the $4.50 level for some time.
If the price turns up from the current level and breaks above $5.660, the DODO/USD pair may rise to $7.50. This level is likely to act as a stiff resistance but if crossed, the pair could rally to $8.75 and then retest $10. The next leg of the uptrend may resume above this level.
Conversely, if the bears sink the price below $4.50, a drop to $3.50 is possible. The selling could intensify if the $3.50 to $2.788 support cracks.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
As the cryptocurrency and blockchain technology industry continues to grow while being endorsed by more celebrities and some of the top S&P 500 companies, there are more choices than ever when it comes to what platform to use.
While the inception and increasing popularity of Decentralized Exchanges (DEX) and protocols have made it easier to navigate the vast catalog of cryptocurrencies by using fewer platforms in terms of listings, the limitations and benefits of both DEXs and Centralized Exchanges (CEX) can make the decision-making more difficult than necessary.
The Orion Protocol is a part of the solution, and it helps make the markets whole again.
This fragmentation not only makes it harder for newcomers who get confused when faced with all the choices available to them but also for existing investors who need to execute more complex trades if looking to get the best deal to maximize their profit.
The option until now has been jumping through hoops: buying specific cryptocurrencies in specific platforms, then having to transfer them to a specific wallet, just to, later on, have to move them back. This fragmentation is not only unnecessary but also inefficient both time and money-wise.
Orion Protocol: Defragmentation by Aggregation
Orion Protocol was specifically designed to solve this issue by aggregating the liquidity of the entirety of the crypto market ecosystem into a single decentralized, secure, and flexible platform built on the most advanced liquidity aggregator developed to date.
While most Decentralized Finance protocols and DEX have been created to fight the monopolies that were forming in the crypto market, those designed to aggregate them have been pretty limited in terms of the offering, with both quickly becoming stagnant and part of the problem they aimed to solve.
Orion Terminal aggregates liquidity from all major exchanges
The Orion Protocol doesn’t aim to compete with existing markets nor facilitate the use of specific projects, it aggregates all of them to complement each other, no matter if it is a DEX, CEX, or swap pool. These benefits all the parties involved, boosting the development and adoption of the crypto ecosystem.
By having all the liquidity of DEX and CEX in a single platform, Orion Protocol allows investors to streamline their investment strategies without having to compromise.
The Orion Protocol DeFi platform was designed to fill the needs of businesses by offering Bussines-to-business (B2B) and Business-to-customer (B2C) solutions, working as a bridge between both the centralized and decentralized worlds of crypto without operating as a centralized authority.
This approach to DeFi resulted in the creation and recent launch of Orion Protocol’s first live product: The Orion Terminal. With this launch, users will be able to start benefiting from the Orion Protocol by giving them the ability to trade, deposit, and withdraw from a single location.
While the Orion Terminal is the protocol’s platform for consumers and pro investors to take advantage of the aggregation of markets, the team is working on launching its B2B solution, the Orion Enterprise Trade Widget, in the near future.
Orion Protocol is also working on the development and launch of its own price oracle, which will allow investors to automate their investment processes by gaining access to live quality data from different sources out of blockchain.
A Chain is Only as Strong as Its Links
While the Orion protocol is chain-agnostic, it has partnered with different blockchains in order to improve its flexibility, use cases, and security. One of such partners is Elron, which provides speed and scalability to the platform by settling all trades on Orion Terminal with order validation logic, trade exchange, and signed order message
Elrond’s high throughput and low latency smart contracts execution platform were some of the reasons why the Orion Protocol team chose it to bring speed, scalability, and low fees to Orion Terminal.
Orion Protocol is planning on introducing new solutions such as Lending, Price Oracle, Liquidity Boost Plugin, and the Orion Enterprise Trade Widget, all of which will operate on the Elrond blockchain, benefiting users and both ecosystems in the process.
Trade across all major exchanges
The governing of the protocol makes use of a proprietary staking mechanism known as “Delegated Proof of Broker”, which fulfills its functions by using a decentralized network of brokers using the ORN token as its fuel.
Orion’s Broker Network includes some of the most relevant in the industry so far, covering the CEXs, DEXs, and Non-Exanche broker niches. The list of brokers includes KuCoin, BitMax, MXC, Injective Protocol, and Chainlink.
Orion Terminal’s mainnet code is constantly being audited by Certik to ensure no vulnerabilities can be exploited by attackers, ensuring the security of the protocol.
How Does Orion Terminal Work?
The Orion Protocol team focused its efforts on 4 major aspects that they believe can make the project fulfill its mission of revolutionizing the crypto market: Liquidity, custody, accessibility, and scalability.
To offer its users as much liquidity as possible, Orion terminal makes use of decentralized liquidity aggregators like 1inch to make it possible to pull liquidity from DEXeswhile using a network of brokers like KuCoin to add liquidity from CEXes to combine the best perks of both worlds.
While most aggregators that pull from centralized exchanges are centralized and custodial solutions, Orion Terminal doesn’t require its users to grant control custody over their assets as using the platform is as simple as connecting their wallet and executing their order.
Decentralized Finance has struggled to gain mass adoption by small investors due to the high costs of Ethereum gas, which has also resulted in dApps depending on small transaction fees to lose popularity. As Orion Terminal is not limited to ERC20 tokens or a specific blockchain, it facilitates adoption by users and projects relying on any blockchain network.
When it comes to scalability, Orion Terminal has been designed to support high demands right from the start without the need of relying on Layer 2 solutions in the future, as has been the case of Uniswap.
By aggregating every order book, Orion Protocol can provide the best price and lowest fees in markets, while experiencing zero spread and slippage, all of this in the convenience of having every exchange market on one platform.
The Past, The Present, and the Future
Orion Protocol was founded back in 2018 by Alexey Alexey Koloskov and Kal Ali after obtaining a $300K seed investment through self-funding as well as help from friends and family. The project would then raise 3,450,000 via an Initial Coin Offering (ICO) in July of 2020, in what would be one of the most successful token sales of the year.
Alexey Koloskov, CEO and Co-Founder of Orion Protocol, counted with experience in both the traditional finance and DeFi worlds, having been the Chief Architect and Creator of the Waves DEX back in 2016.
This experience helped Mr. Kolosov to develop its own non-custodial decentralized trading platform, which would be a singular and non-custodial gateway to crypto: Orion Protocol.
The launch of the Orion Terminal represents the completion of the first objective of the First Quarter of 2021, which will also see the launch of ORN staking features, Orion Oracle, Orion Wallet Swap SDK, Orion Enterprise Trade Widget, Orion Collateral Optimization, and the Orion DEX Kit.
These steps will solidify the groundwork for the future of the project as it aims to expand accessibility to crypto and improve the entire ecosystem, with more DeFi features being planned for the future to extend the available trading strategies investors can make use of.
While DeFi was pretty successful in 2020, with the continued gain of the popularity of cryptocurrency and blockchain technology, the moment is perfect for the ecosystem to continue to develop by taking advantage of the new scalability and efficiency of new chains and projects. Orion Protocol plans to be an integral part of this future, not by computing but by completing.
Concordium and Swvl Announce Partnership for Blockchain-Based Mass Transit Systems
