Alexey Koloskov | August 23 2022
Alexey Koloskov | August 23 2022
Biggest blockchain DEXs coming to Orion Protocol: how it benefits you
Orion Protocol combines centralized exchanges and decentralized exchanges as it removes notorious barriers within the crypto industry of fragmentation. With the top centralized exchanges already connected to Orion, such as Binance, OKX, KuCoin, and AscendEX, the development and testing of the biggest DEXs will mark a monumental era for blockchain and DeFi once live.
Uniswap and PancakeSwap have consistently been the popular DEXs across Ethereum and BNB Chain, trading with increased popularity since inception. 24-hour trading volumes on both platforms have produced between around $200k up to a high of $5bn for PancakeSwap, and around $1bn up to near $11bn at its February 2022 peak for Uniswap.
Both platforms remain the elite DEXs in the industry; however, both succumb to the same fragmentation issues which affect the liquidity in the cryptocurrency space. Users needlessly and repeatedly must jump across to other exchanges for the assets, while elite CEXs still keep the most liquidity by far.
Solving industry issues
Orion solves limitations within the blockchain industry as it combines separated liquidity sources into one place. Better still, Orion places these exchange order books into one, optimizing the potential for best value, along with Orion’s ability to smart route and split orders. The additional use of Virtual Order Books (VOBS) helps to create unique trading opportunities, completely unique to Orion’s technology.
Meanwhile, Orion Bridge reflects true L1-to-L1 atomic swap capabilities to ensure securely bridged assets between chains directly through Orion Terminal itself. This reduces friction and enhances user experience while also protecting individuals from other inadequate and insecure blockchain bridges in the industry.
Uniswap and PancakeSwap will form fresh additions to the Orion aggregation ecosystem along with the bolstering of the currently integrated DEXs of QuickSwap and SpookySwap. Over time, these DEXs build up exponentially, offering traders unparalleled access to the top crypto exchanges in one place.
Impact: how it benefits you
The inbound integration of Uniswap and PancakeSwap will drive exceptional amounts of liquidity through Orion, bringing thick order books primed for quality trading - already populated by the most liquid CEXs in the industry. The addition of the top CEXs and DEXs together drives unmatched liquidity through the same order book, ensuring Orion Protocol thrives as the pinnacle of liquidity aggregation within the cryptocurrency industry. Each source of liquidity added furthers the overall aggregated prices a user receives as the orders compile together. This reduces slippage and creates an abundance of strength to hold bid/ask prices at the same price point, whereas individual exchanges with limited capacity for liquidity cannot hold prices, often forcing users to pay more at a higher order book price. Orion’s Virtual Order Books (VOBs) receive significant input for enhanced calculations from additional sources, leading to unique transaction routes only possible on Orion, creating further value for users.
Additional DEXs bring additional assets, reinforcing the liquidity of current tokens and coins while introducing a host of new assets to Orion Terminal as well. New tokens lead to more opportunities to trade with, and through Orion’s aggregation, it provides users with a single place to trade, reducing friction, time-wasting, and additional procedures needed for single and severely hampered trading entities. Orion does not compete; it combines.
The upcoming rollouts of Uniswap, PancakeSwap, and the strengthening of QuickSwap and SpookySwap serve each of the four currently integrated chains on Orion Protocol. While currently in the advanced testing phase by the development team and VIPs, the rollout enhances Orion Protocol extensively. Unlike individual exchanges, which stay flawed and limited because of their own liquidity ceilings, Orion’s foundation of continuous improvement enables an unlimited amount of DEXs to be combined for the ultimate best value for trades. This level of opportunity increases further with additional chains and provides easier access to Orion’s liquidity, such as through Orion Swap Widget and other B2B solutions. Orion’s technological growth fosters the resilience of the crypto and blockchain industry, seamlessly solidifying the trading orders for users seeking the greatest price, performance, and privacy in the trading world.
Watch out for “soft releases” in the upcoming days ahead of the official unveiling.