The growth in cryptocurrency and decentralized finance is now encouraging many people to embrace digital assets. This has brought an increase in the overall number of crypto investments and transactions. Consequently, more crypto exchanges have emerged to serve the growing demands of investors and traders.

However, despite the numerous crypto exchanges in the industry, traders still experience some difficulties carrying out profitable transactions. There are challenges of liquidity in most prominent exchanges.

Also, investors face the issues of high trading fees and suitable cryptocurrency for investment. Moreover, most traders don’t have what it takes to research platforms with the best trading returns.

These issues brought the birth of Orion, a protocol that simplifies crypto trading and investment to the minimum.

Rather than trying to compete with other existing crypto exchanges, Orion aggregates their order books to a single platform. This provides endless liquidity and rich trading tools on one platform for every crypto user.

This article will explore the great possibilities from Orion protocol, its token, and the project stands to offer. Read on to discover the uniqueness of this endless liquidity provider.

What is Orion Protocol?

Orion Protocol is a project that aggregates liquidity from the entire crypto market to a single decentralized platform. The protocol’s unique functionalities profer solutions to some DeFi prominent issues.

These problems include a lack of trading pairs, liquidity, and special trading tools that meet traders’ demands. The protocol gathers all crypto exchanges’ order books to a single easy-to-use platform for users.

While other decentralized liquidity aggregators operate within the DeFi space to gather liquidity, Orion Protocol goes beyond that. The new project also aggregates liquidity from centralized digital exchanges in addition to the DeFi ecosystem.

One of its major distinguishing factors is that while operating from centralized exchanges, users funds are decentralized. Thus, the users maintain control of their funds without external influence, irrespective of the liquidity source.

From its operability, Orion Protocol stands as the first DeFi project that provides liquidity from decentralized, centralized, and swap pools.

History of Orion Protocol

Alexey Koloskov was the first to form the concept of the Orion Protocol. Koloskov, together with Kal Ali, created the project in 2018. The project was finally launched in 2020

The founding of the Orion protocol came intending to handle the monopolizing problems of most large exchanges in the industry. Besides other pronounced problems, both decentralized and centralized exchanges have other challenges. While decentralized exchanges battle relative underdevelopment, centralized ones are more susceptible to hacks.

The founders of Orion put the project as the new hope for the cryptocurrency industry. This’s because the protocol as a decentralized platform supplies the demands of both users and businesses.

Koloskov currently occupies the position of CEO and co-founder of the Orion Protocol. Before now, he was a blockchain developer, Waves Platform’s Chief Architect, and IT project manager of UniCredit Bank in Russia.

Orion Products

The Orion Protocol is a one-stop-shop cryptocurrency platform. It offers several digital products and services to users. Here are some of Orion products:

Orion Trading Terminal

Orion trading terminal enables users to consummate their trading transactions through ist universal API conveniently. The platform needs no other formalities from the traders and investors; there’s no requirement for KYC.

So whether you’re investing in an emerging blockchain initiative or buying new crypto tokens, you can have it all on the Orion trading terminal.

You can engage in cross-chain trade orders and automatically execute transactions using the best available prices with just one call. All a user needs to do is attach his wallet and deposit some funds in the smart contract.

The terminal supports trading across Binance and Ethereum. Some other prominent exchanges that you can trade from the terminal include KuCoin, AscendEx, and others.

One of the outstanding advantages of the terminal is its non-custodial technological design. Thus, there’s no compromise in the security of your private keys as you trade across the digital market.

Also,  in its stance to keep up the protocol’s security, its trading terminal is presently going through CertiK’s security audit.

This’s a check from one of the reputable companies for blockchain security. Currently, the Orion terminal integrates some wallets like Coimbase wallet, MetaMaska, and Fortmatic.

Portfolio Management Application

Orion portfolio management application eliminates the stress from users in checking their several accounts from different exchanges one after the other. The app simplifies the monitoring processes for the users’ portfolios. It gathers all the relevant information into a single tool for the users.

Furthermore, users can observe and maintain their performances across other exchanges from the management application. They have opportunities to set alerts for arbitrage positions, as well as automate assets management processes.

Despite the various processes on the platform by the management application, users won’t need to surrender custodians of their funds. Instead, the application has a non-custodial feature that empowers users to control their funds while operating the portfolio management tool.

Enterprise Trade

The issues of interoperability, as seen in other protocol aggregators, are not applicable in Orion. The functionality of the protocol addresses such problems its extensions for institutional users.

Thus, traders, developers, and other companies embed or link their software to Orion’s API through the extension for easy connectivity.

By using Orion’s enterprise trade, enterprise customers can directly access and purchase tokens from its platform.

Also, there’s the opportunity for speedy crypto transactions within the open market through no exchange for enterprise clients outside the blockchain. Furthermore, there’ll be no requirement for keeping treasury departments for projects.

Orion App Store

Another Orion product is the marketplace where users can purchase different software solutions. For example, the decentralized app marketplace features much Orion-based software such as an algorithmic trading bot, Arbitrage apps, and Payment integration software solutions.

DEX Launcher

Orion offers another product that benefits developers. The DEX launcher is a platform where they can launch a decentralized exchange and leverage Orion’s liquidity. The method is straightforward and also beneficial. Once a developer launches the exchange, it is sure of liquidity to support transactions.

Orion Plugins

Orion provides plugins that both decentralized and centralized exchanges can integrate into their platforms. With such plugins, these exchanges can contribute to the liquidity aggregation practice of the Orion ecosystem. Also, by this integration and contribution, exchanges can utilize market makers with lower fees.

Another important thing is that those exchanges that don’t have volume can rely on instant liquidity plus Orion’s order book to survive. The aggregated liquidity consists of brokers who leave their funds in different exchanges and still execute orders for their users.

These brokers are the liquidity providers that keep the network running. To be a part of Orion’s liquidity pool, these brokers will stake a certain amount of the native token. Thus, the number of ORN they hold in exchanges will affect their fees for executing their client’s orders.

Orion Token (ORN)

Orion Protocol’s native token is called ORN. This token serves as the means of performing various transactions on the protocol. For instance, the token facilitates payments on the Orion terminal and helps users make some profits.

If a user pays transactions fees with ORN, the amount becomes lower than when using other means. Also, with the token, users can earn interest through the staking mechanism.

Another relevance of ORN is to the brokers on the decentralized brokerage platform. They use the token to stake to qualify for executing trades. Also, non-brokers on the Orion Protocol can stake the native token to qualify for voting their preferred broker.

The ORN has a total supply cap of 100,000,000 tokens. For now, the amount in circulation is around 29,985,000, while the live market cap on CoinMarketCap is at $284,104,306. According to the Orion Team, they’re working towards ensuring the sustainability of the token.

Orion Protocol Review: All About ORN Explained In This Guide

Image Credit: CoinMarketCap

So, they’re focused on facilitating non-inflationary staking, diminishing supply, providing more uses for ORN, offering refund opportunities to users. Also, they want to create more benefits for ORN holders to encourage more investment.

How Does Orion Token ORN Remain Valuable?

According to the team behind Orion, they’re ensuring the ORN sustainability through several means that includes:

1.   Non-inflationary Staking

Orion offers a multiple exchange pre-staking system that yields up to 39% APR. This initiative is very profitable, and that’s why Orion users are staking their tokens massively. Presently, 50% of the total ORN in circulation is already staked.

Orion uses a Delegated Proof of Broker in its staking process. The model offers two different components; Non-broker stakers and Broker stakers. The Brokers uses the Orion Broker-dedicated software that executes trades that comes from the liquidity aggregator.

If the number of stake brokers has is high, their chances of executing trades also increase. Another way to increase their suitability to executing trades is through the votes of the non-brokers. These groups stake their tokens to vote for a broker they support.

Orion offers staking rewards for both Broker Stakers & Non-broker Stakers. The reward for the Broker Stakers comes from the trade fees they realize after executing it.

The brokers get a certain portion from the fees. For the non-brokers, their rewards come from the Brokers who reward them for their votes. However, these rewards vary depending on the brokers.

This Delegated Proof of Broker staking model is non-inflationary. This is because Orion doesn’t need to mind tokens to reward stakers. Instead, the stakers get their rewards from the various revenue streams of the protocol. As such, the value and necessity of the ORN token are continually increasing.

2.   Benefits for Token Holders

ORN token holders gain more by paying lesser on the Orion Terminal. By using the ORN, they can get lower fees discounts on the terminal. Also, if they participate in the DPoB staking system, they’ll get more rewards.

3.   Diminishing Supply

Another way the token remains valuable is that the team usually remove it from circulation by doing the following;

  • Refunds: Orion destroys every token refunded through the Dynamic Coin Offering.
  • Staking: As both Brokers & non-brokers stake their ORN, they automatically reduce the circulating number of tokens in circulation. Also, all the rewards for the stake go back to their stakes and further lowers the number.
  • Licensing fees: all the licensing fees that the protocol generates from the Defi solutions are used to buy ORN, which lowers the number available in the market.

4.   Refund Opportunities

Orion uses Dynamic Coin Offering (DYCO), which is different from other protocols. Orion sets asides 80% of the funds it raises during the DYCO to buy back tokens from holders who want to sell their collection. Once these tokens are refunded, Orion burns them.

Is Orion Safe For Investors?

One of the impressive things about Orion’s security is that CertiK usually audits the network. This blockchain-security company ensures that the network is continually functional, maintains its integrity & adequately optimized via regular penetration and security audits.

Other parts of the Orion network that pass through regular audits are the open-source software brokers use, the Orion Protocol code, and the smart contracts. With all these audits and checks, the Orion Terminal remains stable.

Another aspect to consider is that the Orion Protocol is a non-custodial solution that doesn’t provide asset storage mechanisms. Orion users have 100% control of their assets. They’re in charge of their wallets, passwords & keys. No central body manages the tokens, keys, or passwords.

Many crypto exchanges usually offer wallet solutions to investors who wish to store their tokens on the platform. But one problem that these on-exchange wallets have is that they’re prone to hacking. So, crypto experts usually recommend using a hardware wallet instead.

By allowing users to control their assets, it is safe to say that Orion is safe. Furthermore, any hacker compromising the network won’t access users’ funds since they’re not on the platform.

Where to Buy Orion Protocol Tokens

If you’re ready to invest in the Orion Token, you can visit the following exchanges:

  1. BKEX
  2. KuCoin
  3. Binance
  4. Uniswap (V2)
  5. Capital.com

To buy ORN, you can use your Ethereum (ETH) or the USDT in many exchanges like Uniswap, KuCoin, or AscendEX.

On the Bilaxy platform, you can also buy it. Moreover, according to the team, users can even stake the tokens on KuCoin Biki or AscendEX unnoticed and earn up to 39% APR bonuses.

Benefits of Using the Orion Protocol

  1. Orion Protocol is one of the protocols with lower fees and the best prices for digital assets.
  2. It operates with an aggregated order books that even other exchanges based on Orion can utilize.
  3. Orion provides up to 18 incomes streams for users of its diverse solutions. So, there are many ways for users to make money on the protocol. These streams of income for Orion also ensure longevity for the network.
  4. There are Arbitrage opportunities for users.
  5. The protocol is decentralized & non-custodial to ensure that users manage their assets themselves without fear of compromise.
  6. It is cross-chain available and ensures that DeFi enthusiasts make money through staking.
  7. Many of the Orion trading tools are amongst the best in the industry. Some include tools for real-time trading signals, news, and market analysis tools.
  8. It offers a DEX Launcher that developers use to build new exchanges and also utilizes Orion’s aggregated liquidity to operate.

Orion Future Road Map

One of the impressive things to note is that the Orion Protocol has mapped out many plans to take the network higher. For instance, the team planned to launch the Orion Terminal mainnet in the first quarter of 2021. Now, phase one of the Terminal has been launched already.

Other plans have been set for Quarter 4, which includes the launch of the liquidity boost plugin. With all these plans, both the ones already executed and those in the queue, it’s obvious that the protocol is set to grow and integrate more features and functionalities.

Conclusion of Orion Protocol review

One of the things that traders worry about is how to ensure that their transactions are profitable. This concern stems from the activities of large investors and crypto whales who influence liquidity and thereby manipulate market prices.

This issue has been discouraging many traders until the emergence of the Orion protocol with its aggregated liquidity solutions. Orion ensures that both large investors or whales don’t influence its liquidity and offer more profitable trades for its users.

Also, given the processes that Orion uses to make the token valuable, it is therefore obvious that users can hold the ORN for a long term. Another positive aspect is that Orion Protocol offers lower transaction fees and the best prices for assets.

The protocol focuses on combining many exchanges under one umbrella as users can check the performance of their assets on diverse platforms through Orion.

Moreover, Orion Protocol is user-friendly and even provides two staking components; Brokers staking and non-brokers staking. This ensures that all levels of users get rewarded for staking their ORN tokens.