As the cryptocurrency market grows with the introduction of thousands of different crypto assets and trading platforms, one needs to consider a multitude of variables before diving into the market. Variables like trading fees, liquidity, and insufficient customer support are just a few quirks that a user needs to grow accustomed to.
A lot of protocol solutions have been launched to bridge these gaps, intending to make the cryptocurrency market a better place to invest. One such protocol that solves these Blockchain problems thereby improving user experience is the Orion protocol.
WHAT IS ORION PROTOCOL?
Orion Protocol is an ambitiously open-sourced, DeFi platform that aims to harness the liquidity from different major liquidity providers i.e. exchanges, and make it accessible to everyone. This liquidity aggregating protocol was founded in 2018 by Alexey Koloskov and Kal Ali - experts in decentralized trading solutions.
At the core, the Orion project is a decentralized finance project that acts as a universal gateway to the crypto market. The project claims that its technology can solve the main problems of DeFi and introduce features that are demanded by traders.
Primarily, Orion offers a platform where a trader can confidently trade across chains and get the best return out of their funds while reducing any potential risks. Let's review the protocol in detail!
WHAT DOES ORION OFFER?
Being a user-friendly liquidity aggregator project, Orion solves many nagging problems that the Blockchain industry faces. In the world of DeFi projects, let's have a look at this gem and what it has to offer.
A unique liquidity aggregator:
The Orion protocol boasts a technology that connects to many popular exchanges in real-time. This interoperable blockchain platform utilizes these exchange order books to allow the trade of cryptocurrencies at the most advantageous prices. Its unique engine is designed into a traditional exchange interface that provides the largest list of supported currencies on the market.
Internal price matching engine:
As the number of users increases, the need for decentralization also increases. Orion intends to reduce reliance on third-party exchanges by matching orders effectively against each other. It uses internal DEX to connect to more and more peer-to-peer cryptocurrency marketplaces. Hence, traders are able to enjoy near-instant order executions.
A non-custodial platform:
Orion behaves as a non-custodial platform that allows traders to confidently trade across chains. It gives users complete control of their funds by allowing them to transfer their funds directly to an external wallet. No funds need to be held on the platform after they have been purchased.
Furthermore, features like cold storage and user-controlled wallets greatly reduce the risks of hacking, downtime, and theft.
ORION'S PRODUCTS:
Orion's technology addresses some widespread DeFi issues like lack of liquidity and trading pairs, aids in the mass adoption of cryptocurrency, and offers products and services. The platform has a whole suite of products to create inter-connectedness between different blockchains and provide liquidity to the crypto market. Orion's products include the following releases:
The Orion App Store:
It is an organized dApp marketplace where users can easily and safely access Orion-powered decentralized apps and trading signals from independent developers.
Key features:
DEX Kit:
A DEX Kit is a platform for projects through which users can readily launch their own customized, decentralized crypto exchanges on networks like Ethereum, Stellar, and more. Moreover, users also get instant liquidity on these crypto exchanges by connecting to Orion’s ecosystem.
Key features:
The product is a plug-in that connects the liquidity of centralized and decentralized exchanges to the Orion Protocol. This increases the liquidity in their marketplace instantly.
Key features:
Orion Terminal:
Orion terminal is an all-in-one trading platform where users can efficiently trade across a variety of different exchanges by offering the best spot prices.
Key features:
Portfolio management app:
A portfolio management app is a tool for tactical traders to monitor, automate, track, and rebalance token activities in the crypto-economy. The app allows fast and easy trading of assets regardless of where funds are held.
Key features:
ORN Token can be used in the following ways:
ORN token distribution:
According to the Orion team, ORN tokens will be distributed as follows:
45 million will be distributed to public investors.
24 million to the Orion Foundation.
12 million for the team.
13 million for marketing.
6 million for advisors/partners.
THE BOTTOMLINE:
Orion protocol is still not well known yet, however, the project is off to a good start. It addresses some significant issues that are plaguing the crypto trading industry by synchronizing a variety of trading and investing activities. The team behind Orion operates in a lucrative manner to fill major gaps in the industry and to ensure the platform's adoption, reliability, and stability.
