Kal Ali | June 15 2020
Kal Ali | June 15 2020
Orion Protocol is the DeFi platform building B2B and B2C solutions on the most advanced liquidity aggregator ever developed. The protocol aggregates the liquidity, order book depth, and price discovery from every centralized and decentralized digital asset market, enabling the creation of the Orion Terminal, and an array of industry-critical solutions for consumers and businesses.
The decentralized brokerage comprises of a network of third-party brokers chosen to carry out all transactions on the platform. Brokers run Orion Broker Software, automatically executing trades routed from Orion's liquidity aggregator, and are chosen to execute trades based on how much ORN they stake.
To prevent monopolies from forming and to ensure the protocol remains democratic, Orion has built into the network non-broker stakers who stake ORN to vote for their choice of broker - choosing brokers based on the dynamic reward share offered. Brokers are incentivized to offer attractive rates to non-broker stakers to grow their stake and increase their chance of being chosen. Learn more about how this works here.
Designed using advantages from Proof of Stake, brokers carrying out transactions are rewarded for their work. Unlike traditional consensus mechanisms, however, new tokens are never minted to create rewards: brokers are rewarded via generous portions of transaction fees from the platform’s thirteen revenue streams.
BitMax, one of the largest and most progressive exchanges in market, saw the broker network as an innovative and lucrative opportunity for both revenue and expansion. Wanting to capitalize on this opportunity, BitMax has joined as a broker: providing additional revenue through transaction fees while offering a decentralized solution to their centralized order books. The top-tier exchange will monetize idle assets while serving as a premier liquidity provider for Orion.
In a mutually-beneficial partnership, BitMax is joining Orion as both a broker and advisor. The BitMax team brings a wealth of experience in money markets and trading across crypto and traditional finance, having been founded by Wall Street quant trading professionals with considerable experience in crypto since then. This partnership aims to help Orion navigate and further expand into the crypto landscape - bridging the gap between traditional finance and DeFi.
Registered in Singapore, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust product design ranging from innovative volatility products to margin trading and other investment solutions. Since launch in 2018, it has established itself as a top institutional-grade trading platform with $400M daily trade volume.
Built on the most advanced liquidity aggregator ever developed, Orion Protocol solves some of the largest issues in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform. Governing the protocol is the proprietary staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralized brokerage with the ORN token at its core. This underpins each industry-critical solution built on the protocol, including the flagship product Orion Terminal: aggregating all major exchange liquidity into one decentralized terminal. Orion Enterprise provides much-needed solutions for businesses in the space, including blockchains and exchanges, while their roadmap includes a price oracle and a high-margin DEX.