Kal Ali | January 19 2021
Kal Ali | January 19 2021
Orion Protocol announces Glitch Finance as the fifth partner to use Orion Liquidity Boost Plugin, enriching its GEX with bottomless cross-exchange liquidity. This integration follows partnerships with Polkastarter, MobiePay, PlasmaPay, and Fire Protocol.
Orion Protocol will aggregate the liquidity of every crypto exchange into one decentralized platform: providing a decentralized gateway to the entire market. Its enterprise solutions for crypto projects, blockchains, and exchanges built on the protocol include Orion Liquidity Boost Plugin: bringing endless liquidity to exchanges immediately, from every CEX, DEX, and swap pool.
While Ethereum made DeFi possible, congestion on its network now threatens its sustainability. GLITCH, a blockchain protocol designed specifically for trustless money markets, aims to solve the expensive fee structure of other blockchain platforms via a dedicated system, featuring token wrapping bridges, that’s scalable and capable of uniting an entire ecosystem of dApps. Furthermore, Glitch will be launching its own decentralized exchange, or GEX, in Q2.
The GEX will sit on the GLITCH blockchain, initially featuring GLCH tokens and limited trading pairs. However, having low volume can be detrimental to a new exchange, despite the cost, development hours, and business development that went into building it. By utilizing Orion’s Liquidity Boost Plugin, Glitch will ensure bottomless liquidity to their GEX immediately, removing the barrier to entry for those wishing to participate in the GLITCH ecosystem, while increased liquidity will result in reduced slippage and optimum pricing on the platform. Meanwhile, this liquidity will also aid cost effectiveness across a number of sibling dApps.
Upon full launch in Q4, Orion’s Liquidity Boost Plugin will provide bottomless liquidity to Glitch’s GEX immediately. Glitch will simply:
> Install Orion’s API adapter into GEX’s infrastructure.
> Connect GEX’s in-house order books to Orion (all orders will first try to execute internally, but if more liquidity or a better price is available elsewhere, Orion will fulfill the orders).
> Configure the parameters, including trading fee value percentage, spread adjustment, and supported pairs or exchanges to integrate.
The plugin is completely seamless: GEX users continue to trade as if all orders are executed on GEX internally - Orion’s involvement will not be visible.
Sean Ryan, CEO of Glitch Finance: “As DeFi grows, the ability to aggregate liquidity and turn our streams of revenue into a capital river is essential. One ecosystem, and the priority should always be keeping it unified. For us, there is no better partner than Orion, a truly one-stop shop for all things liquidity. Thank you Orion!”
Alexey Koloskov, CEO of Orion Protocol: “With ETH network fees and congestion a threat to decentralized trading, we admire what Glitch Finance is doing to combat this. Glitch and Orion share a common goal of bringing greater liquidity, accessibility, and value to DeFi, and we’re pleased to be partnering with them to provide endless liquidity to their GEX.”
About Glitch Finance
Built from the ground up, the GLITCH is a blockchain-agnostic super protocol designed specifically for trustless money markets. Glitch solves the expensive fee structure of other blockchain platforms and plans to incorporate token wrapping bridges, where dApps can be run more efficiently, all in service of Glitch’s ultimate goal: to become the global financial rail.
About Orion Protocol
Built on the most advanced liquidity aggregator ever developed, Orion Protocol aggregates the liquidity of every single crypto exchange into one platform: providing a decentralized gateway to the entire crypto market. By aggregating the market into one place, they’re building a protocol on which to bridge the worlds of crypto, traditional finance, and real world assets.