Yanush Ali | April 19 2022
Yanush Ali | April 19 2022
Discord AMA recap: April 7th 2022
Orion held its first Discord AMA on the day of launching the new Orion Protocol Discord server. The Orion team was joined by guest 'tehMoonwalkeR', discussing the Orion restructure, developments, community questions and more. The audio for it can be found here, within Discord itself, and the written recap is detailed below.
Q1 - 00:22:25 / Will you be able to put orders based on price (Limit Orders) on PancakeSwap and Uniswap pairs?
Stéphane: We will assume he means limit orders, so that is the goal. PancakeSwap and Uniswap integration is the priority at the moment. You will be able to place orders the same way you do on any centralized exchanges.
Q2 - 00:23:00 / Will the whitepaper be updated soon?
Stéphane: No, we're focusing on developing our Orion Gitbook; that’s a tool that many projects use. The whitepaper is more for the initial project. It’s easy to update and more structured than a whitepaper.
But yes, we are working on our Gitbook instead of a whitepaper.
Q3 - 00:23:27 / Can we expect an update on the team page with the upcoming rebranding?
Kal: That is a good question. For sure, that’s one of our focuses, but as much as we want to focus on Orion being an over encompassing entity vs individual people. One of the biggest misconceptions is that Orion isn’t growing as a team; we aren’t hiring or growing the workforce, and with all respect, Iunderstand people thinking that because we haven’t updated the team roster in quite some time.
We absolutely will be updating the team on the website. Our team has grown quite a bit, and I’m proud of the team members we have added to the roster and our current team members
With that said, we are going to be updating the team roster. We have put some information on it, articles about new team members and where they came from, what they are about, what they think about Orion and the space. It’ll be interesting to meet these guys individually to know what they're about.
Q4 - 00:24:52 / When will Orion be added to CMC and GC as an exchange?
Yanush: Orion isn’t just a regular DEX or CEX, so it requires a good amount of dev work on their side. I wish I had a better answer; they’ll be added once they’ve finished integrating us but that's where we’re at, right now. We're reaching out to contacts. We’re trying to speed it up. I spoke with someone from the team today, but they have a long queue and we’re in that queue and were waiting for their dev team to sort it out. They’ve got all the information they need to integrate us.
Update: Orion is now added to CoinMarketCap as an exchange.
Q5 - 00:25:42 / Any ETA on when the circulating supply will be adjusted on CMC and CG?
CryptoToad: Regarding an ETA, similar to what Yanush said. We are corresponding with our devs about the circulating supply on Orion Terminal as that should be an easy fix. It’s not that far off, but it will be linked to the wallets on etherscan to make it fully transparent, and we are also coordinating with CMC and CG about it. It’s a top priority.
Update: supply has now been correctly adjusted on CMC.
Q6 - 00:26:24 / What about the virtual order books? Is there any way to learn more about them
Stéphane: We’re currently working on the documentation, explaining what it is and how it works, but we want to wait till it is released. It’s an incredible piece of technology that hasn’t been done before. Many people are starting to understand what it does; this piece of technology shows how advanced Orion's technology is compared to competitors.
We will have explainer content and marketing around it. It isn’t the easiest to understand, but it's very intuitive when you see the UI.
Update: VOBs are now live: blog.orionprotocol.io/vobs
Q7 - 00:28:03 / What are you doing to increase Terminal volume?
Stéphane: There are a lot of things we're doing/ planning. User acquisition is our top priority. We need to grow an actual team and have different initiatives to reach other markets. This goes in conjunction with marketing. The B2B solutions are coming sooner than later, and FTM integration is coming together.
Q8 - 00:29:51 / Are other chains hard to integrate, or is it just plug-n-play?
Yanush: Unfortunately, nothing is plug-n-play, especially with the type of tech we’re working with. There is different tech for different chains, even despite some being Evm-compatible. All chains are unique and require other methods to integrate.
We learn as we add new chains, which will help us with future chains, but it’s for sure not as easy as plug-n-play.
Q9 - 00:30:42 - When will the Fantom integration be final, and will the integration on the Terminal & wallet go live simultaneously? If not, what is the ETA?
Stéphane: It’s in VIP testing for the actual integration of the chain, as we speak, and the swap will be after that. Stay Tuned.
Q10 - 00:31:13 - How often will we be listing pairs to the terminal?
Kapano: We want to focus on what adds the most value, most quickly. Right now, the focus is on Fantom and Virtual Order books. Also, remember we have OpenOrion, where projects can list themselves on our Terminal, which is already live and functional.
Q11 - 00:32:35 - What is the biggest challenge for Orion?
Stéphane: Building a quality team. We have a big project, and we need to grow our team sustainably and find the right people. It’s tough to build a team with all strong quality developers on the development side.
People with the correct skillset, experience, and people we can trust are what we're looking for, even within the business development team. We welcome people from the community if they come with the proper skillset and have that passion and work ethic.
Q12 - 00:34:27 / Will Orion release its own layer one blockchain so external parties are incentivized to build on top of it, or will it stay in its current form.
Kal: This sounds good but, with that, it means you’d have two products which you’d need to build and create communities for. Look at other blockchains, there are many out there with a lot of money, but not many transactions, not much TVL, and they're putting a lot of money into growing their respected chains, but it’s a slow process, and you’re competing against the big dogs ETH, AVAX, BSC etc.
Q13 - 00:37:05 / Any plans to finish the Elrond integration?
Yanush: Yes, eventually we will, but it’s not our primary focus at the moment. We want to build on chains that already have large amounts of trading volume, TVL, and we need these chains to have good infrastructure, meaning they have the tech and make it easy to integrate, which hasn’t been easy with Elrond. It also needs to have many exchanges of its own and native tokens in that chain, as that’s what we do, we aggregate.
To summarize, we will finish the integration, but it isn’t our priority.
Q14 - 00:38:02 / What is the reason for ORN pool farming rewards being reduced, and what exactly is the team doing with the ORN that’s not being spread out in the pools?
CryptoToad: Last week, we enabled the possibility of liquidity providers to move their liquidity over to BSC from ETH for the pools that are also on BSC. With this migration, we want to stimulate people to move their liquidity to BSC as those pools are far more effective in transaction volume and fee-generating for liquidity providers.
We are also rebalancing the farming rewards.
Q15 - 00:39:49 / Are there any plans to add leverage trading or shorting capabilities to Orion Terminal?
Stéphane: It is in the pipeline. This was spoken about internally just a few weeks ago. Also, adding margin trading to the terminal increases TVL. We are exploring the idea of hiring a consultant/ expert in the field and, hopefully, a full-time developer, but there are other priorities before that.
Q16 - 00:40:44 / Are there any plans to add more stable platforms for the terminal like Stellar or Algorand?
Yanush: Yes, considering we are chain-agnostic. Considering we don’t have the best relationship with Algorand, that’s something we're going to be working on.
Q17 - 00:41:19 / When can we expect FTM integrations and Virtual Orderbooks?
Yanush: We tend to stay away from giving out exact dates; you know how hard it is in software development and especially in crypto. As soon as it is ready and steady, it’ll be released. Anything tested in the VIP group can be assumed to be out next.
Update: VOBs are now live: blog.orionprotocol.io/vobs
Q18 - 00:42:00 / Besides FTM wallet integration and Virtual Orderbooks, what are the three following things that will be released for Orion, and will it take long?
Yanush: With the goals of Orion, it takes time, and this is all we're focused on in short/medium term.
Q19 - 00:42:38 / Kal mentioned the change in direction; what is the vision for Orion now, and how will we know when you’ve achieved it?
Stéphane: We feel the biggest misconception is that there is no progress. This really isn’t true, and every day, there is progress being made, but it just takes time and a lot of effort. We need more devs, but that takes a lot of time, and good devs are hard to find.
Q20 - 00:46:12 / We’ve heard a lot about B2B solutions coming soon, but still, we don’t know when we will see these B2B integrations and when we’ll start to see B2B volume. Any ETA for this?
Yanush: We were very close to finalizing version one of the swap widget; we’re still working out the final details and are also hiring some Business Development Coordinators that’ll be solely focused on user acquisition and client acquisition of the swap widget.
This is our first enterprise solution, and we’re very excited about it.
Keep an eye out for more news and integrations with Orion Protocol. Thanks again for joining us and we'll see you next time.