AMA With Orion Protocol | Notum
May 05, 20226 min read
Orion Protocol is a protocol aggregating liquidity and a universal gateway to crypto, and a decentralized, highly secure, easy-to-use platform. It’s a place that allows you to trade across various chains.
It gathers liquidity across DEXs, CEXs, and swap pools that allow finding the best prices in the market. Orion aims to solve the splitting of crypto markets, NFTs marketplaces, and assets from traditional finance by eventually putting them together in a single place — Orion Terminal.
We’ve been delighted to have an interesting AMA session with Orion, all your questions show us how engaged you are. Such events are always a great chance to reach each other and learn more about your favorite project and the crypto world in general.
So, let’s not delay any longer and reveal your best questions and our answers. Enjoy reading!
1. Why Orion Protocol choose Elrond Network as an infrastructure layer provider? and What are the main concerns you have to choose Elrond over others?
Thanks for your question, babycrypto. Orion is chain-agnostic, meaning we don’t just have one specific chain integrated, we have a number of them. As Orion aggregates various liquidity sources, both centralized and decentralized, along with swap pools, chains such as Elrond, Fantom, Cardano, Avalanche, Holochain, Polkadot, and more can be added seamlessly. We don’t look at choosing one chain over the other as a concern. We see it as an opportunity to be inclusive and part of our “gateway to crypto” which Orion is designed to be.
2. Do you have plans about allowing NFT projects to be built on ORN blockchain?
Hi, Econo. Orion isn’t a blockchain, it is a liquidity aggregator. Several blockchains can be integrated into the protocol for use with decentralized trading, swapping, and bridging. Regarding NFTs, Orion will be aggregating NFT marketplaces in the future. This creates opportunities for traders to trade their NFTs in one place and without marketplace-hopping. We look forward to sharing more on this as it develops.
3. Do you have any plans with who you want to collaborate in the future?
Thanks for being involved in this AMA, Prideeee. A thoroughly exciting part of Orion is that it combines various blockchains, marketplaces, and more. It is in our nature to partner with other projects and teams as we combine. I think we have over 60 teams that we’ve partnered with so far and that will only increase. Who would we want to collaborate with? The answer is simple. We want to partner with other teams who share our ambition and drive for making Orion an integral piece of the overall blockchain puzzle, in tandem with their own projects, as we provide an overall solution to industry limitations. These limitations are problems such as insufficient liquidity, lack of accessibility, scalability, and custody.
4. How can the community contribute to #OrionProtocol progress? Do you have a Governance model? Are there any ambassadors or bug bounties or contests we can help with to enable further adoption?
Hi, Chandjv. Being involved in the community, in general, is a great start to participating in what we are doing. We have a dedicated Discord server as a Hub for Orion news, and Telegram, plus other social channels. We have staking ability on Orion Terminal with the ORN token, and governance voting enables rewards to be accrued by voting on liquidity pools. Of course one of the best ways of contributing to Orion Protocol is simply by using Orion Terminal for your trades. Orion Terminal enables users to access centralized liquidity without needing an account to trade. Users always access this centralized liquidity in a decentralized manner using their own wallets. Exchanges including Binance, KuCoin, and AscendEX are all integrated into Orion with many more to be added. Global access without restriction.
5. All project coins have their main Utilities & real-life use case! So, Can you tell us what is the main role of your coin in your ecosystem? Explain its Utilities & Real-Life use cases? and Why should I invest in your coin for the long term?
Hello, Yaroslava. The beauty of the ORN token is that we have ensured deep utility across the entire protocol, integrating it into all of the protocol’s main transactions. Orion has 18+ revenue streams (and counting!) and as each one is implemented, it adds to revenue across the ecosystem. Upon Main Net Staking, these revenue streams will help to drive daily total volume, with a portion flowing back to the stakers. We have just launched Orion Swap Widget, enabling any website to install the widget, gaining users access to trading centralized aggregated liquidity in a decentralized way with a user’s own wallet. Holder benefits of ORN include further incentivizing holding, being involved in IDO raises, discounted trading, advanced features, protocol access, staking returns, and more.
6. Once the product is developed, one of the main challenges seems to be adoption. What are some of the plans to stimulate adoption and build out the ecosystem around Orion Protocol?
Hi, Merve. Orion Terminal is live right now, and users can trade liquidity from centralized exchanges such as Binance, KuCoin, and AscendEX using their own wallet and from any location in the world. As Orion Protocol is a liquidity aggregator, we naturally gravitate towards adopting more and more chains, assets, projects, marketplaces + more. This in itself is an excellent way to scale the project and we have many more, such as the use of Orion’s products like Orion Swap Widget to gain exposure and grow.
7. Could you please tell us more about your tokenomics? What's the total supply and what kind of plans do you have regarding ORN unlocks in the future?
Hi, imad. ORN is a supply-capped token that started at 100m ORN, meaning no other tokens will be minted beyond the TGE (July 2020). With various methods of permanently removing tokens from circulation such as Orion’s SolarFlare IDOs, this total ORN amount will only ever reduce. Private sale vesting has already been completed. More on this can be found here.
8. Could you share with us 1-3 killer features of "OrionProtocol" that set it apart from its competitors? What competitive advantages does your platform have that you feel most confident in?
Hi, Roso. Orion doesn’t compete with exchanges, it aggregates them! Orion is the first decentralized liquidity aggregator in the market. Other hybrid aggregators require accounts and personal data to be shared. With Orion, a user just has to connect their wallet to trade centralized liquidity immediately.
Orion Liquidity Boost Plugin will enable other exchanges to connect Orion’s liquidity into their exchange, instantly giving them access to the liquidity and volume of all connected exchanges in the protocol.
Orion Launchpad Liquidity enables the launch of incubated projects on the launchpad’s own platform, via a seamless white label swap DEX with the liquidity of the entire market. With Orion’s solution, incubated projects raise funds on the launchpad platform, and list on their own Swap immediately afterward: reducing friction, improving customer experience, and generating revenue.
9. Many projects are competing to create innovations to solve problems in the DeFi structure, such as issues with smart contracts, market volatility, and a lack of liquidity. What innovations will the Orion protocol create to overcome the DeFi problems?
Thanks for your question, taka. No one has solved liquidity, custody, accessibility, and scalability in one platform. Orion solves insufficient liquidity by pulling in liquidity from multiple sources, both decentralized, and centralized - which holds the majority of the liquidity in the blockchain industry. Other liquidity aggregators who pull from centralized exchanges are in fact centralized themselves. On Orion Terminal, just connect your wallet and access centralized liquidity in a decentralized way.
With Orion Terminal offering multiple chains such as Ethereum, BSC, and Fantom, with more to come, accessibility is far wider with Orion and will continue to grow with every new exchange added.
Swapping pools are popular yet the pools themselves are often not large enough to sustain increasing demand. This leaves token prices susceptible to manipulation. Users can trade risk-free on Orion with deep liquidity from centralized and decentralized sources, making Orion exceptionally scalable.
10. What is the ultimate mission that "OrionProtocol" trying to achieve in the crypto field? Obviously crypto market will experience huge growth in upcoming years, so which role would you like to play in this game?
Hi, Opu! Orion Protocol is the single point of access to the crypto market. Orion Terminal seamlessly aggregates bottomless liquidity from major exchanges, centralized + decentralized: providing rich trading tools in one easy-to-use platform. Orion will grow with the industry, continuing to integrate chains, exchanges, pairs, and more, making the aggregation deeper and deeper - providing the user with consistently better value.
Thank you all for your wonderful questions! That was such a fruitful session, so we just can’t wait to have another one! We do hope you’ve found the answers to all your questions if you have any other ones, keep them till the next AMA, and we’ll definitely answer them, too. Stay with us and be always updated about the following events!