Kal Ali | February 26 2021
Kal Ali | February 26 2021
Orion Protocol announces YOP as the latest partner to utilize Orion Liquidity Boost Plugin. This integration will provide substantial cross-exchange liquidity to yPlatform, reducing slippage across multiple pairs, aiding cost effectiveness, and improving experience.
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.
YOP is a Yield Optimization Platform and Protocol: an all-in-one DeFi application that makes it easy for users of any level to access yield markets where they can deposit and stake their cryptocurrency. YOP provides custody, insights and custom parameters all in one single application. By implementing custom feature sets in their smart contracts, they provide more value to users, their network and the YOP token. YOP is chain-agnostic and will focus on integrating DeFi protocols across seven blockchain networks including (but not limited to) Ethereum, Polkadot, Binance Smart Chain, and Solana.
Leveraging Orion Liquidity Boost Plugin, yPlatform users will gain immediate access to substantial liquidity: reducing slippage across multiple pairs, aiding cost effectiveness, and improving user experience.
In addition to the Liquidity Boost Plugin, YOP will utilize the Orion Launchpad Liquidity to enable the launch of incubated projects within the Swap DEX Tab of the YOP platform. With Orion’s solution, incubated projects raise funds on the YOP platform, and list on yPlatform immediately afterwards: reducing friction, improving customer experience, and generating revenue.
This will allow YOP customers to benefit from better swap pricing and more liquidity, while practically eliminating slippage for the end users. The seamless integration will work in the background of the YOP platform, collecting the best swap rates for customers. It will also improve launchpad processes for smoother launches and listings and avoid launch “snipes” due to greater aggregation of liquidity.
Commenting on the integration, Atif Yaqub, founder of YOP, says: “We are thrilled to integrate Orion’s exciting liquidity plugin to the YOP protocol. Providing our customers with more competitive rates is a big win. This is another step on our path toward launching our platform and transforming the DeFi landscape as we know it today. Orion, like YOP, is dedicated to taking DeFi to the mainstream and we are truly excited to work with them.”
Alexey Koloskov, CEO and Co-Founder of Orion Protocol, added: “Our goals are strongly aligned with YOP’s: a chain agnostic approach to efficiently bridge the gap between traditional finance markets and the burgeoning world of DeFi, removing the barriers to entry for mainstream adoption of the crypto market.”
Each of Orion’s LBP partners have one thing in common: the need for liquidity in order for their project to become sustainable. LBP clients are hand picked and fully vetted as top quality partners focused on user base growth as a key metric of success. Every transaction placed on partner exchanges like yPlatform using Orion liquidity will result in a transaction on the Orion Terminal met with regular terminal fees, adding to terminal volume. ORN staking rewards are generated via transactions on the terminal, and will therefore increase alongside terminal volume. Therefore, every new LBP partner brings an increase in staking rewards on the terminal.