Orion Protocol is the first decentralized platform that will allow users to trade across both decentralized and centralized crypto exchanges and swap pools (including an NFT marketplace) within one decentralized platform.
Orion is providing a non-custodial gateway that bridges the gap between centralized and decentralized worlds, allowing users to access the entire digital asset market from one terminal.
ORN Token Details
Orion Token has some of the best token utilities you will find in the crypto space. Orion now has now 18+ revenue streams that will give ORN holders huge benefits (these are likely to continue growing over time as they expand across the crypto space as well).
The ORN Token itself is currently an ERC-20 token, but the team have stated they are also open to migrating over to a native token if they need it.
“At this time we do not plan to migrate, but we’re always considering ways to improve and evolve the platform… If reasons arise and we need to migrate, it can be done successfully without affecting Orion’s functionality and platform.”– blog.orionprotocol.io/faq-orn-token
As shown in the image, all these revenue streams will drastically add to the validity and use case of the project long-term continuing to benefit ORN holders, through continuous revenue generation.
Orion’s Liquidity Boost Plugin will give any exchange instant access to the liquidity and volume of all exchanges through the platform. Any exchanges that may be struggling with daily volume can choose to quickly plug into the liquidity of Orion’s platform benefiting both parties, but also ORN stakers/brokers.
Partner exchanges using Orion’s liquidity means more transactions with trading fees that then raises the total Daily Volume.
If you would like a visualization of the process, check out this infographic.
Orion’s DEX Kit will allow crypto projects to build decentralized exchanges, employing their own chain. Trades completed through the DEX Kit will result in general trading fees which build Daily Volume and Staking rewards.
Licensing fees charged for utilising the Orion DEX Kit will be paid in ORN directly bought through the platform, removing them from the supply. This is an amazing feature for any DEX as building a user base and growing liquidity can take time and be expensive, so this can put them ahead of competitors.
The ORN token is supply-capped at 100,000,000. But, the token supply is diminishing, this is for a few reasons:
- Brokers will hold large amounts of the tokens and will be given rewards in ORN.
- Stakers will lock their tokens away for great APY rewards paid in ORN.
- All licensing fees will be paid in the token from Orion’s DeFi solutions.
- The refund system (DYCO token sale) will reduce supply, as every ORN token refunded will be destroyed.
Orion has made an ecosystem where they incentivize the community to hold their ORN tokens, they have made it clear they want to continue to add more functionality and benefits improving the value for holders even further.
Discounted trading fees on the platform:
Save up to 20% on standard trading fees by paying with ORN.
ORN holders can earn more tokens by staking and receiving a % APY in return. There is now a staking calculator which can give you estimates on potential staking rewards: https://calc.orionprotocol.io/
I’ve also seen that there may be some future rewards for stakers/holders including NFTs or NFTVs (vouchers) through Boson Protocol.
“Brokers and Non-Broker Stakers can earn extra transaction fees by staking ORN – with chances increasing along with the size of their stake”
Holding ORN will unlock the ability to take part in new features, including first access to Orion Margin Trading and Orion Lending (likely coming in Q3).
Unlocking of more premium services on the platform. Currently including advanced trading orders like controlling Take Profit and Stop Loss parameters.
dApp Marketplace Access:
Future dApps in the marketplace will be available for holders, including apps for trading bots, payment gateways, and investments. These services will be available through ORN as payment.
How does the platform work, what are the benefits?
Orion is an all-in-one platform where traders can access the liquidity of centralized and decentralized exchanges (DEX’s & CEX’s), and also swapping pools.
This will save time in ‘exchange-hopping’, and will ensure the best prices across all exchanges on what can be looked at as a crypto-wide order book:
Providing arbitrage opportunities across all exchanges, and also allowing you ‘whales’ out there to transact in large quantities without the associated risks of doing so on a single exchange.
Being a decentralized platform means that there is no KYC involved for users on Orion as it is a non-custodial platform. Orion uses a decentralized brokerage system (they do not hold any funds). Whereas brokers will hold funds and are KYC’d (the foundation for the entire platform).
Stakers and Brokers:
The decentralized brokerage uses a Delegated Proof of Broker (DPoB) model that is the underlying support for the Orion ecosystem, built up of Stakers and Brokers allowing the protocol to function using the ORN token.
Non-Broker Stakers will stake ORN to ‘vote’ for a broker based on their offerings in reward shares. This incentivises Brokers to make their rates appealing to collect more ORN which in turn will increase their chance of being chosen (as a competitive ranking system).
Stakers and Brokers are rewarded via transaction fees on the protocol. Staking rewards are generated through volume on the terminal, and from all the other DeFi products in the platform, so as transaction volume increases on the platform the rewards will as well.
What else can we see on the platform moving forward?
Orion’s Main Net Terminal is live 31st of March 2021. So you can go check out their platform for yourself and get a feel for what it’s like!
Connect your wallet up and start trading across their current major exchanges like Binance, KuCoin, Bitmax and many more.
Main Net Staking is in its final testing and will be live in Q2, where you can stake ORN and get Rewards. In the meantime check out their Staking Calculator I mentioned earlier to gauge your potential rewards.
Additional features to be added to the terminal later this year include lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, and staking of any digital asset type”.– https://blog.orionprotocol.io/2021
Most of these features will be coming in Q2 this year, the margin and lending later in Q3, with the official launch of the Liquidity boost plugin in Q4.
Orion will be launching the first NFT Aggregator that will include every major marketplace all available into the Orion terminal. If you want to stay up to date for when this is open make sure to sign up for their updates!
For Orion, building many Partnerships is vital for the Ecosystem and they have been growing rapidly over the past few months. To give you an idea, here are some of them: Binance Smart Chain, Elrond, Avalanche, Coti, KuCoin, Boson Protocol, Polkastarter and YFDai. These are only a few on a long list, and I expect Orion to continue growing this list over the coming months and for years to come.
If you would like to learn more about how their Partner Ecosystem works I would highly recommend checking out Orion’s Partners page, and if you still need more information have a read through this: Partners Explained.
To sum it all up
Orion Protocol is essentially a powerful all-in-one non-custodial decentralized platform that incentivizes users to hold ORN tokens due to the many Revenue Streams, benefitting holders in the long term.
It bridges the gap between DEX’s and CEX’s, users can take advantage of crypto-wide liquidity across all areas even including Swap Pools and NFT Marketplaces, while still allowing users to secure their own wallets.
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