Last time, we answered your questions on Orion Protocol. Here, we’ll be answering your questions on our $ORN token: including its utility, supply, our plans for distribution, and how we’re chain-agnostic.
Answering your questions will be our CEO and Co-Founder, Alexey Koloskov; our COO and Co-Founder, Kal Ali; our CMO, Timothea Horwell; and our CSO, Yanush Ali.
Have a question? We’d love to hear it.
How can we be sure the $ORN token is more than just vaporware like many others? | AK47
Timothea: There are a number of projects that offer a token with no real use or need in order to power the project. We don’t see this as sustainable, given the main cause of failure in the space is lack of substantial revenue streams.
Orion is not one of these kinds of projects. We’ve built a DeFi platform with ten B2B and B2C revenue streams, generating revenue from day one. And we’ve been focused on ensuring deep token use in every aspect of the platform .
We have embedded the ORN token into every function of our aggregator. Whether trades, staking, our consensus mechanism, or our DeFi products, every aspect uses the token and no product or service will work without it. We believe that our use case is one of the strongest in market.
One platform, ten revenue streams. All using the ORN token to function.
What are the substantial revenue streams of ORION Protocol, and what is the utility of the token in each of them? | SAAHO
Kal: We have developed ten (and counting) revenue streams across our platform with the ORN token at their core:
ORION TRADING TERMINAL: Percentage of trading fees, signals feed and App Store fees, fees for arbitrage access and premium trading features.
ORION DEX KIT: DEX kit licensing fee, % of trading fee from DEX.
ORION LIQUIDITY BOOST PLUGIN: % of trading fee from DEX, licensing fee.
ORION ENTERPRISE TRADE: % of transactions through client, licensing fee.
ORION BROKER POOL: Passive benefits on staked ORN tokens.
The ORN token is used for discounted trade fees on the terminal. If a trader chooses to pay in non-Orion assets, they’ll pay the regular trade fee and the asset used will be converted to ORN from the open market.
All DeFi products execute trades from brokers using ORN for fees, therefore needing the ORN token to function. DeFi product users will be charged a one time licensing fee in Orion tokens, which will be subsequently removed from the supply.
All fees from transactions, whether from traders or DeFi products, will be converted to ORN tokens from the market — even if the trader opts to pay the fee in non-ORN tokens. All benefits will be given in ORN tokens and will be compounded back into the user’s stake, unless they choose to exit their staked ORN tokens and sell.
This will create a continuous flow of buys and sells of ORN on the market and ensure liquidity of our the token.
What are the benefits that someone can expect from holding ORN tokens? | RufusVision
Yanush: The token itself has plenty of utility and can increase with a growing user base.
In addition to its high demand and importance in our ecosystem, simply staking ORN generates users with benefits from our revenue models. Non Broker Stakers (NBS), can stake their ORN in the Broker Pool and use their ORN to “vote” for a particular Broker to receive a trade execution. Brokers then share benefits with the NBS that voted for them.
Our entire Broker Pool will be monetized through our lending partners via PlutusDeFi, generating additional benefits from the Broker Pool which is shared to ORN stakers. All of these benefits will be shared in ORN.
Instead of a growing supply for sharing benefits, we provide stakers with benefits generated via our revenue models. And we’re committed to removing 100% of all licensing fees generated from the circulating supply.
Do you see the utility value of Orion to create a robust market demand for the tokens or will other factors lead to relayers turning to other tokens or methods to be compensated? | ValerityQ
Kal: There are a number of incentives to hold in ORN as we’ve discussed, from discounted trading fees to high staking results.
But our ORN token is not just a token for paying transaction fees on our platform, it’s an intermediary for cross-chain trading and settlement of different assets. ORN tokens can be converted to a large number of underlying assets and will be collateral to stable coins and other cryptocurrencies. Without the token, the project wouldn’t work.
Even if fees are paid in a non-ORN token, all fees from transactions, whether from traders or DeFi products, will be converted to ORN tokens from the market.
The ORN token is a ERC20 right now, do you have plans to migrate it to a native token? | Manugotsuka
Yanush: At this time we do not plan to migrate, but we’re always consdering ways to improve and evolve the platform. Right now ORN is ERC-20, but we also leverage other blockchains/DLTs for certain aspects and components of our platform, including Elrond and Holochain. We’re chain-agnostic, so leveraging different platforms is seamless and does not require a lot of effort to execute. If reasons arise and we need to migrate, it can be done successfully without affecting Orion’s functionality and platform.
With limitations of Ethereum speed, can ORN’s functionality work? | Akirk
Yanush: Ethereum has made substantial updates and improvements to their platform, making its potential and speed much higher than what it was before these updates. We’ll continue as an ERC20, but as stated above we can migrate if we prefer to.
Are you planning to exchange your ORN token on large exchanges (centralized and decentralized)? | Karim Melko
Alex: We’ll be listed on centralized exchanges, decentralized exchanges and on our own platform.
Next up in the series: STAKING.