Timothea Horwell | July 11 2020
Timothea Horwell | July 11 2020
Built on the most advanced liquidity aggregator ever developed, Orion solves the largest problems in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform – pulling from every major centralized exchange, decentralized exchange, and swapping pool.
At the core of Orion Protocol is the ORN token. Orion has ensured deep utility of the token across the entire protocol, integrating it into all main transactions to take the form of an internal currency or utility token. ORN will give holders a range of benefits, plus additional functionality that will add further value and incentivize holding: including discounted trading, advanced features, protocol access, and lucrative staking returns.
The Orion Protocol aggregates the liquidity, order book depth, and price discovery from every centralized and decentralized digital asset market. This enables the creation of the Orion Terminal, and an array of other much-needed products for consumers and businesses.
Orion Terminal provides access to the liquidity of the entire crypto market on one decentralized platform, without the need for users to ever give up their private keys. Orion Terminal users will be able to save up to 20% on standard trading fees by paying with ORN. Since fees are typically calculated as a proportion of order size, if ORN tokens rise then a smaller amount will be required to pay the equivalent in the traded currencies. Buying ORN early on hypothetically represents the ability to pre-purchase trading activity at a favorable rate.
Governing the protocol is the proprietary staking mechanism, Delegated Proof of Broker, fulfilling every function on the protocol from order execution, to clearing, to the governance of choosing a broker, and everything in between via a decentralized brokerage. Designed using advantages from PoS, DPoB consists of two core components: Brokers and Non-Broker Stakers. Brokers and Non-Broker Stakers are able to earn additional transaction fees by staking ORN - with chances increasing along with the size of their stake.
Brokers with exchange accounts run Orion Broker Software, automatically executing trades routed from the liquidity aggregator. Brokers are chosen to execute trades based on how much ORN, they stake. The more ORN staked, the higher the chances of being chosen. Brokers can grow their stake through Non-Broker Stakers. These are community members that stake ORN to ‘vote’ for brokers to execute trades, incentivized by the dynamic revenue share offered by Brokers. Each vote increases the Broker’s chance of being chosen.
Rather than minting new tokens for rewards, staking payments are generated via Orion’s revenue streams - preserving the integrity of the underlying ORN token over time.
Users who hold ORN tokens will be able to unlock additional premium services on the platform. ORN holders will be able to set advanced trading orders that are not available to other users, such as controlling Stop Loss and Take Profit parameters. Holders will also be sent alerts for arbitrage opportunities and other useful features.
Holding ORN will also provide benefits for other products across the roadmap, including first access to Orion Margin Trading (the first 100x decentralized margin trading) and Orion Lending (aggregating lending APRs from centralized and decentralized providers for the best available rate).
Orion is building a Developer Kit to broaden the use of the protocol. A variety of dApps can be built on the protocol, including apps for investment, trading bots, and payment gateways via a decentralized marketplace. Within Orion’s dApps, ORN will be used to pay for all services.
Finally, Orion is committed to ensuring the sustainability of the ORN token via its strong Token Economy. It’s supply-capped, meaning new tokens are never minted beyond the Token Generation Event, while efforts are in place to strategically and frequently remove tokens from circulating supply. Orion has worked to ensure longevity of the supply-capped ORN token through a number of methods:
> Social Mining
ORION HUB is now live, a community accelerator that enables ORN holders to earn rewards for their contributions to the project. We have designed the platform in a way that will reward ORN holders for an array of activities, including:
Will you #HOLDORN?