Kal Ali | December 18 2020
Kal Ali | December 18 2020
We’re astutely aware of the value of strong partnerships in building out our ecosystem, expanding our offering, and ultimately ensuring our sustainability. We’ve been focused on building out our ecosystem through mutually-beneficial integrations with some of the leading projects across multiple sectors, further developing our infrastructure, security, accessibility, visibility, and more.
A robust infrastructure is integral to our success. While we are chain-agnostic, and can partner with different blockchains to suit our needs, our primary partner is Elrond to bring speed and scalability to our ecosystem.
From Q1, each trade on Orion Terminal will be settled on the Elrond blockchain, complete with order validation logic, trade exchange and signed order messages. Elrond's high throughput and low latency smart contracts execution platform will bring speed, scalability, and low fees to Orion Terminal, while this partnership will bring a significant number of transactions to the Elrond blockchain.
Furthermore, each subsequent DeFi solution built by Orion Protocol (including Lending, Price Oracle, Liquidity Boost Plugin, Orion Enterprise Trade Widget, and more) will operate on the Elrond blockchain, growing Elrond's presence in the DeFi space.
Governing the protocol is the proprietary staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralized brokerage with Orion's native ORN token at its core.
The decentralized brokerage comprises a network of third-party brokers with accounts across multiple exchanges (or exchanges themselves) chosen to carry out all transactions on the platform. Through Orion Broker Software, brokers automatically execute trades routed through Orion’s liquidity aggregator via exchange accounts. This allows traders to tap into the liquidity of any exchange partnered - or any exchange our brokers have trading accounts with.
CEXs: We’ve partnered with KuCoin, BitMax, MXC, and others to provide access to their centralized liquidity in a decentralized way. These exchanges will enrich the Orion ecosystem with increased liquidity for spot trading, margin trading, leveraged ETF and contract trading services. This partnership is mutually beneficial: joining as a broker enables CEXs to monetize their idle assets and offer a decentralized solution to their centralized order books.
DEXs: Injective Protocol joins Orion’s Broker Network as the first liquidity provider of decentralized derivatives on Orion’s aggregated book orders. This will enable Orion Terminal to offer derivatives for users to trade traditional digital assets, exotics, and other derivatives, while providing Injective additional revenue through transaction fees.
Non-Exchange Brokers: Non-exchange brokers include market makers, wallet projects, blockchains, VIP traders, and heavy ORN holders. Through Non-exchange brokers with accounts across multiple exchanges, traders will be able to tap into the liquidity of any exchange we don’t have existing partnerships with.
We’re working with Chainlink to achieve full collateralization of the Decentralized Brokerage at the core of the broker network. This integration will see all of Chainlink’s oracles serve as a reference price for issuing loans and triggering on-chain liquidations in Orion’s Decentralized Brokerage, by ensuring that all broker services are fully collateralized by ORN.
Security of our protocol is paramount, and of utmost importance to our sustainability.
Orion Terminal’s main net is continuously audited by Certik, the leading blockchain security firm, to ensure functionality, automation integrity, and overall security optimization. Our smart contracts are continually audited, including VAPT of the smart contracts and Substrate modules involved in the development and launch of Orion Terminal.
Furthermore, any open-source software on the respective brokers’ side will be continually audited in addition to Orion Protocol’s domestic code to ensure the stability of the Terminal’s network, ensuring that everything connected to Orion Protocol is safe to use under all circumstances. Every project built on Orion Protocol will be referred to CertiK for security auditing, improving the integrity of Orion Protocol’s broader ecosystem - making sure they are in accordance with modern security standards, as well as in a position to seamlessly interact with Orion and Elrond smart contracts.
Aleph.im is a safe decentralized network built for Decentralized Finance, dedicated to provide secure storage and computing to dApps on all blockchains. All of Orion Protocol’s financial activity stored on aleph.im will benefit from aleph.im’s secured, fully auditable, and trustless infrastructure.
We’re focused on continually developing our platform and offering. In addition to our own internal developments, we’ll be adding a number of additional features through partners.
Working with Kira Network, we’ll enable non-custodial staking of any asset on Orion Terminal (including stable coins, digital fiat and NFTs), where tokens and their staking derivatives can be both staked and traded at the same time.
Through an integration with Boson Protocol, Orion Terminal traders can cross-trade tokens for NFTs to buy, lend, borrow, or rent real world assets directly connected to the entire crypto market.
Meanwhile, Bonded Finance have joined forces to enable yield generation opportunities and the efficient liquidation of digital assets.
Through Bonded Finance, locked and staked ORN tokens will be made available for yield generation through Bonded smart contracts. As a listed asset on Bonded Finance, ORN holders will be able to access Ionic, Bonded’s lending/borrowing product, in order to loan and borrow ORN, access capital resources, earn as they HODL, and earn liquidity incentives.
And through DeXe Network, decentralized copying of the best traders’ strategies will be available on Orion Terminal - across every centralized exchange, decentralized exchange, and swap pool in the market.
Today, there are two things that distinguish traditional finance systems from the world of crypto: interoperability and accessibility. Card holders can make payments globally without worrying about compatibility, conversion, while this remains an issue in the crypto space - an issue we’re working with partners to solve.
Our integration with MobiePay will bring ORN to the MobiePay ecosystem: ORN will be able to be used for payment, online or in-person, at 225,000 POS systems in 500+ global retailers with whom MobiePay has integrated, including Target, Uber, Amazon, and more. Meanwhile MobiePay will bring FIAT on/off ramp functionality to Orion Terminal.
Similarly, PlasmaPay will bring its considerable FIAT on/off ramp functionality to Orion Terminal. Furthermore, this integration will allow ORN to be spendable across PlasmaPay’s ecosystem, including at Microsoft, Expedia, Shopify, Bloomberg, and more.
Furthermore, we are working with AllianceBlock on an industry-first integration aimed at offering traditional finance entities a gateway to the entire crypto market. The integration presents an industry-changing opportunity to offer secure, compliant, non-custodial, and streamlined crypto trading to traditional finance entities, including private banks, wealth managers, and funds.
The main cause of failure in the crypto space? An under-developed ecosystem with a lack of sustainable revenue streams. Orion Enterprise exists to help businesses in the space build out sustainable, decentralized ecosystems. On our advanced liquidity aggregator, we’re building a stack of B2B solutions for blockchains, exchanges, and crypto projects.
Polkastarter is the first partner to use Orion Liquidity Boost Plugin, a simple to install plugin that provides exchanges with access to the liquidity of the entire crypto market, enriching Polkastarter’s DEX with bottomless cross-exchange liquidity to provide automated liquidity to token swaps and pools. Similarly, through the plugin, Orion will enrich MobiePay’s in app currency exchange with cross-exchange liquidity and tight spreads on all spendable currencies within the MobiePay ecosystem. PlasmaPay will become the third partner to use the plugin, enriching Plasma’s token swapping service PlasmaSwap with cross-exchange liquidity across the entire market.
Through the aggregation of every exchange order book and trading pair in the market, Orion Protocol is developing a market-leading Price Oracle. Orion Protocol has begun providing the Chainlink Network with trading data via the price oracle, making Orion Protocol’s data available to other DeFi dApps via oracle nodes in the Chainlink Network. The decentralized structure and real-time price feeds from all exchanges in the market will provide smart contract developers who use Chainlink with rich, high-quality data to enhance their DeFi smart contracts.
Loaning platforms like Bonded Finance require collateral. In the event that collateral for a loan decreases in value, immediate liquidation at the best price would be required to prevent the collateral from going under the value of the underlying loan. Orion Protocol’s liquidity APIs will allow for streamlined liquidation of assets available on Bonded’s platform, performing a market wide sweep across every exchange in the market to efficiently handle potential liquidations. This will allow Bonded Finance to transact large quantities of assets strategically without the associated risks, allowing for the preservation of token value on the secondary market.
Partnerships and recognition beyond crypto will play an integral role in extending our influence beyond crypto, driving mainstream adoption.
In signing an agreement with the world’s largest independent blockchain think tank, the Blockchain Research Institute, we will concentrate on designing and executing research projects within the blockchain space, while leveraging BRI memberships for enterprise partnerships.
Alexey Koloskov, CEO of Orion Protocol, has been accepted into Forbes Finance Council, an invitation-only council for executives in accounting, financial planning, wealth and asset management, and investment firms. This allows the Orion Protocol team to connect and collaborate with other respected leaders in a private forum, while sharing expert insights on Forbes.com.
WeWork Fintech Blockchain Labs supports early innovators across the ecosystem, including Orion Protocol. WeWork Labs provides us access to a progressive environment of FinTech & Blockchain focused entrepreneurs, industry experts, guided mentorship and investors, including Binance X, IBM, MakerDAO, Tezos, and more.
Eterna Borderless Venture Studio is a combined initiative led by Eterna Capital, Borderless Capital, and Algorand. The venture studio will provide Orion Protocol an array of tools and resources for creating decentralized applications.
Most recently, we have partnered with leading Blockchain Marketing + PR Firm MarketAcross, joining clients like Binance, Huobi, Polkadot, Tron, Crypto.com, and eToro. Their comprehensive strategies are designed to help blockchain and fintech companies rise to prominence through top quality content, powered by data and delivered by impactful storytelling.