Alexey Koloskov | April 17 2021
Alexey Koloskov | April 17 2021
Fantom becomes the first project to ‘self-list’ on Orion Pool: Orion’s AMM Solution
Yesterday, Orion announced its upcoming AMM solution: Orion Pool. Alongside the four starting pools, third party projects will be able to self-list their token on Orion Pool paired with ORN, enabling greater accessibility to assets on Orion Terminal. Fantom will be the first project to join Orion Pool and provide liquidity for the FTM pool.
While we continue to increase Daily Protocol Volume ahead of Main Net Staking, we’re combining two existing forms of pre-staking in the form of ‘Main Net Pre-Staking’ on Orion Terminal. ORN token holders will be able enjoy staking rewards, governance, and added utility directly from the Terminal, without losing custody of their ORN.
This liquidity will create Orion Pool: Orion’s AMM solution integrated directly into the current swap interface to create a seamless experience for the end user. As usual, Orion will route all swap orders to the liquidity source with the best price possible price. Whether it’s an external DEX, CEX, or internal within Orion Pool - users will experience the most profitable rate for their swap from one interface.
Initially, Orion Pool will launch with four ORN pools including ORN/ETH, ORN/USDT, ORN/BTC, and ORN/BNB. Fantom will be the first project to join Orion Pool and provide liquidity for the FTM pool.
This follows a recent partnership with Fantom becoming the pilot partner for Orion Wallet Swap SDK, enabling users to access endless cross-chain liquidity directly from their Fantom wallet. Via the FTM Pool, Fantom wallet users will also be able to provide liquidity to Orion AMM directly from their Fantom wallet.
This will drive further accessibility of the FTM token via Orion Terminal, enabling trading with other assets on the terminal via complex-swap. More partners will be announced.
How will this work?
Liquidity Providers on the Terminal will receive Liquidity Mining rewards spread between the multiple ORN pools. Alongside liquidity providers, we will be adding Governance Stakers to our Main Net Pre-Staking to ‘vote’ on the pool to receive rewards.
Liquidity Providers: As per typical liquidity mining programs, Liquidity Providers will provide 50:50 ORN and the matched asset. Liquidity providers for Orion Pool will benefit from multiple sources of income: swap fees from the AMM pool, farming rewards via Orion’s Liquidity Mining program, and ORN staking rewards generated from all of Orion’s products. Liquidity Mining rewards will be spread between the multiple ORN pools.
Governance Stakers: ORN Governance Stakers will be able to vote towards a specific ORN pool. Liquidity Mining rewards will be spread between each pool according to the amount of votes they have. This allows ORN holders to dictate the rate of rewards each pool will receive. ORN Governance Stakers will receive ⅓ of all the swap fee revenue that Orion Pool generates, in addition to the regular staking rewards that are allocated to Governance Stakers. In addition to voting for Liquidity Mining reward share, ORN Governance Stakers will also be able to use their staked ORN to vote for future assets on Orion Terminal.