Orion Protocol is a next-generation DeFi platform that connects to all major cryptocurrency exchanges (centralized and decentralized) and renowned liquidity pools. This platform combines the best features of existing cryptocurrency brokers and instant trading applications. In essence, the protocol serves as the Bloomberg of the cryptocurrency space, bringing all existing centralized and decentralized cryptocurrency trading platforms under one protective umbrella.
Orion Founders
Orion Protocol (ORN) was launched in 2020 by Alexey Koloskov and Kal Ali. Koloskov embarked on his crypto journey as the creator of Waves DEX in 2016 and currently serves as the CEO of Orion Protocol. Ali, with a wealth of experience in the traditional finance industry, holds the position of COO on the platform.
Advantages and Features of Orion
Orion Protocol brands itself as the “most advanced liquidity aggregator ever” and claims to address some of the most significant issues of traditional DeFi trading platforms.
According to a survey by Encrybit, 91% of cryptocurrency traders encounter various problems when trading on traditional cryptocurrency platforms. These common issues include security concerns, lack of liquidity, and high transaction fees.
Orion Protocol addresses all these issues through its “crypto brokerage aggregator.” According to the Orion whitepaper, the platform provides convenience for traders, reference for analysts, flexibility for trading algorithm developers, all centralized in one place. The platform also claims to be one of the lowest fee platforms in both centralized and decentralized cryptocurrency markets.
Some key features of the Orion Protocol include:
Unique Liquidity Aggregator: Orion’s primary feature is its built-in aggregator, allowing users to access multiple exchanges in one place. With the aggregator, traders can get spot prices for any supported cryptocurrency, as it aggregates the best features of all centralized and decentralized platforms.
Internal Price Matching Engine: Traditionally, users had to rely on third-party brokers to match orders from different cryptocurrency exchanges, increasing dependency risk and execution time. In contrast, Orion Protocol efficiently matches orders on a peer-to-peer basis using its internal decentralized exchange (DEX). With its extensive internal database, Orion Protocol aims to reduce trading risks while providing nearly instant execution.
Non-Custodial Platform: Most traditional platforms control user wallets, preventing direct external transfers. Locking cryptocurrency within exchange platforms before external transfer increases risks of hacking, theft, and downtime. In contrast, Orion Protocol allows users to have control over their funds and enables direct transfer of cryptocurrency to external wallets after purchase.
In addition to these features, the platform offers liquidity enhancement plugins, a blockchain DEX suite, enterprise trading widgets, launchpad liquidity, and developer kits, all of which are valuable for both retail and professional high-frequency traders.
ORN Token
The Orion Protocol is powered by its native utility token called ORN. This token is hosted on the Ethereum platform and follows the ERC20 standards. ORN can be used for various purposes, including paying transaction fees, receiving staking rewards, voting for “your chosen broker,” and accessing advanced features such as margin trading. Brokers also use this token to participate in decentralized brokerage services. Furthermore, ORN token holders can enjoy discounts when conducting transactions on the Orion Protocol.
Currently, there are 100,000,000 ORN tokens in total supply, with 34,433,074 tokens in circulation. Orion Protocol tokens have a capped supply, meaning their supply is limited and should not be minted anew after token generation events. This limited supply acts as an anti-inflation mechanism, making ORN potentially a good store of value in the long run. Mechanisms are also in place to periodically remove tokens from circulating supply and burn them, such as mechanisms for licensing fees and refunds, leading to token deflation.
The circulating supply of ORN tokens multiplied by the current price of the Orion Protocol determines its market capitalization. Market capitalization determines ORN’s ranking in the cryptocurrency peer group and its market share.
As of today, the Orion Protocol price is $0.5255, with a 24-hour trading volume of $2.14 million. Over the past 24 hours, ORN has experienced a -1.86% change. It is currently -6.52% from its 7-day high of $0.5621 and 5.43% from its 7-day low of $0.4984.
Future Outlook
The journey of Orion Protocol began as a vision and has evolved into a multifunctional cryptocurrency platform connecting exchanges and blockchains from around the world. With future developments, Orion Protocol will continue to play a crucial role in the crypto world, providing users with more innovative solutions to participate in cryptocurrency markets with ease. The success of this project demonstrates that innovation and steadfast belief can change the landscape of an entire industry, laying a strong foundation for the future of cryptocurrency.
About Chainbase
Chainbase is an open Web3 data infrastructure for accessing, organizing, and analyzing large-scale on-chain data. By combining rich datasets and open compute technologies in one data platform, Chainbase helps people better harness on-chain data. The ultimate goal of Chainbase is to increase the freedom of data in the crypto space.
With over 5,000 developers actively engaging with our platform, there are over 200 million data requests processed daily as their data backend, with Chainbase integrated into their core workflows. Additionally, we partner with approximately 10 leading public chains, serve as top validators, and provide custody for over $500 million in tokens. Learn more at chainbase.com.
