In this article, we will be reviewing the Orion Protocol, a project that aggregates different crypto exchanges and asset markets to provide an extensive experience of the crypto trading platform.
Table of contents
- Summary (TL;DR)
- What is the Orion Protocol?
- Orion Review: Products
- Orion Trading Terminal
- Portfolio Management Application
- Orion Protocol DApp Store
- Enterprise Trade
- Liquidity Boost Plugin for Exchanges
- DEX launcher
- How to Trade on Orion Trading Terminal?
- Orion Revenue Streams
- Orion Token (ORN)
- Is Orion Protocol safe?
- Orion Protocol Review: Customer Support
- Orion Protocol Review: Pros & Cons
- Orion Protocol Review: Conclusion
- Frequently Asked Questions
- Orion Protocol is a platform that offers decentralized access to the entire digital asset market. It facilitates users to use deep, cross-chain liquidity rolled into one – across DEXs, CEXs, and swap pools – at the best price in the market without the need to give up their assets.
- Orion Protocol offers various DeFi solutions: Orion Terminal, NFT Aggregator, Liquidity Boost Plugin, Blockchain DEX Kit, Enterprise Trade Widget, Launchpad Liquidity, and Developer Kit.
- Orion solves the segmentation of crypto markets, NFTs marketplaces, and assets from traditional finance by aggregating them into one place: Orion Terminal.
- The easy-to-set-up Liquidity Boost plugin gives your exchange immediate access to the liquidity and volume aggregated by Orion.
- Orion provides an easy process to build a decentralized crypto exchange on diverse blockchains.
- The Orion ecosystem enables every transaction over multiple solutions to add to Daily Protocol Volume, causing lucrative rewards for stakers.
- ORN Token is the primary utility token of Orion Protocol used for lower transaction fees and staking.
- Orion provides a modest customer support forum- with online chat, email query form, and social platforms such as Twitter, Telegram, and GitHub.
- The platform is decentralized, secure, and flexible, developed on the most advanced liquidity.
What is the Orion Protocol?
Orion Protocol is a project that aggregates the liquidity of many crypto exchanges to produce a decentralized platform. It intends to complement multiple existing markets and specific projects, of DEX, CEX, and swap pool, by aggregating their liquidity. Orion eliminates the risk associated with the various crypto exchange (both centralized and decentralized) usage and gives the best returns to our funds.
Traders do not need to worry about APIs from different exchanges, data formats, modes, and order types. Orion Protocol allows investors to streamline their investment strategies without compromising. They focus on Trading or managing their assets.
The Orion Protocol DeFi (Decentralized Finance) platform operates by connecting both the centralized and decentralized worlds of crypto without acting as a centralized authority.
This approach to DeFi led to the creation of the first live product: The Orion Terminal. With this launch, users can trade, deposit, and withdraw from a single location.
Orion Review: Products
Orion aims to provide a platform that gets all done in one place. Hence, It extends many products for traders to make the crypto exchange and market easier.
Orion Trading Terminal
The Orion trading terminal allows traders and investors to execute trades in its universal API conveniently. Users can invest in emerging blockchain initiatives and purchase new tokens with the Orion trading terminal.
Orion Terminal supports Ethereum and Binance. You can trade across the crypto market without giving up your private keys and compromising your security. MetaMask, Fortmatic, and Coinbase wallet are integrated into the terminal presently.
Portfolio Management Application
Orion simplifies checking multiple accounts on different exchanges by collecting all relevant information together in a single tool for the user.
Orion’s portfolio management application allows users to observe and preserve their activity across exchanges, set alerts for arbitrage opportunities, and automate asset management processes, among others.
Users do not need to give up custody over their funds because the application extends a non-custodial portfolio management feature.
Orion Protocol DApp Store
Orion provides a marketplace that users can access to purchase Orion-based software of decentralized applications. Many software among these is third-party developments built on top of the Orion Protocol. Some applications that users can use are:
- Arbitrage apps,
- Algorithmic trading bot, and
- Payment integration systems.
Orion has developed an extension for all institutional traders. Institutions can use Orion API by installing this extension that solves the problem of interoperability.
How To Use Enterprise Trade Widget at Orion?
Follow the below steps to successfully set up the Enterprise Trade Widget at the Orion Protocol:
- Embed Orion Enterprise Trade Widget on your platform using simple lines of code.
- Connect your bank account to acquire fiat from non-blockchain clients. Clients need not manage private keys. The purchased token of enterprise clients goes directly into the wallet for custody.
- Orion gives each client credit for use and allows them to pay for your services without managing tokens or difficult transactions. You will hold on to the custody of the tokens and receive an alert detailing the client, the amount bought, and the price paid.
- Orion Enterprise Trade Widget bridges the gap between non-blockchain clients and crypto projects while still sustaining the interests of all parties, inducing crypto to the mainstream by facilitating token use in conventional business.
Features of Enterprise Trade
- Non-blockchain enterprise clients will appreciate seamless and fast token purchases from the open market without using an exchange.
- Orion enables enterprise clients to buy tokens directly from its platform or website.
- Orion eliminates the need to maintain a treasury department for projects.
Liquidity Boost Plugin for Exchanges
Orion provides all centralized/ decentralized platforms and a plugin that contributes to aggregated liquidity of Orion. It enables market-makers to exchange at a reasonable fee.
It also helps exchanges that lack volume. These platforms can use Orion‘s aggregated order books to combine immediate liquidity to their exchange.
Orion shared liquidity pool — brokers keep funds in exchanges while also executing orders on behalf of the users and are liquidity providers. They stake a minimum amount of ORN tokens to enter the liquidity pool. The fees from executing orders are directly dependent upon the number of ORN held.
How To Use a Liquidity Boost Plugin?
Follow the below steps to use a Liquidity Boost Plugin:
- Install Orion API adapter into your exchange.
- Attach your in-house order books to Orion. All orders will execute internally first, but if higher liquidity or a better price is available elsewhere, it will fulfill the orders.
- Construct the parameters you want to integrate, including trading fee value percentage, spread adjustment, and supported pairs or exchanges.
- The plugin is seamless: you can continue to trade as if all orders get executed on your exchange internally.
Features of Liquidity Boost
- Orion supports cross-chain Trading with various blockchains via atomic-swaps technology.
- An order can be broken into many parts and routed to different exchanges: always assuring the best buy and sell order price.
- Lending, margin trading, crypto signals, and more DeFi products of the ecosystem can be used and easily integrated through the plugin.
- Orion eliminates the need to open and fund your account on multiple exchanges – all of this occurs automatically through the Decentralized Brokerage.
Orion gives access to its liquidity so that users can launch their decentralized exchange. It is simple and also provides instant liquidity. The DEX built is robust, specific to our chain, created in hours.
How To Use DEX Launcher?
- You can follow the below steps to optimize Orion DEX Launcher according to your requirements:
- Create your branding by customizing UI components. Fix your trading parameters, including order fees, transaction fees, matcher address, and relayer strategy.
- Write a custom-coded connector or apply pre-deﬁned abstracting blockchain operations to create a bespoke blockchain plugin.
- Combine a Wallet for a particular blockchain. Implement smart contracts for atomic swaps.
- Connect to Orion’s Decentralized Brokerage for intensifying liquidity and loading order books from market makers.
Features of DEX Launcher
- Orion offers highly customized React User Interface trading elements- Order Book, Real-Time Charts, Order and Trade History, Wallet, and Portfolio Management.
- Improved liquidity furnished from centralized and decentralized exchanges on the market.
- Orion extends support for an extended list of cryptocurrencies from the top 100 of CoinMarketCap, as well as ERC20, NEO, Waves, WAN, and other custom assets.
- Orion enables unification with software and hardware wallets, including browser extensions such as MetaMask, Nash, Waves, and many others.
How to Trade on Orion Trading Terminal?
Trading on Orion Terminal is easy, quick, and hassle-free. Following these few steps, one can trade on this decentralized platform.
Connect your Wallet at Orion
You need to have ETH or BNB Supported Wallets are MetaMask, Fortmatic, and Coinbase Wallet. Adding a wallet to the Orion Terminal is easy.
Depositing Funds at Orion
On the left side of the terminal is the dashboard that displays the details regarding available tokens for trading, connected wallet, contract balance, and asset allocation in your portfolio. You can deposit/ withdraw each token from the dashboard. Pick an amount to add to the terminal. Replicate the whole process for ORN. Once the funding completes, you can trade on the terminal.
Trading at Orion
Once the funding completes, start trading by using the trading terminal on the left of the screen.
Buy/ sell from the open market, or use a limit order. For limit order, select desired price and token of choice through the drop-down menu and the price you wish to enter the market.
The SWAP feature at Orion facilitates a quick switch between the tokens. Select the trading pair via the drop-down menu and Swap the assets.
Withdrawing Funds at Orion
You can use the dashboard to withdraw funds directly from your wallet.
Orion Revenue Streams
Orion extends eighteen revenue opportunities to earn extra for its users, apart from trading. Let us take a quick look at the alternatives in the image below:
Orion Token (ORN)
Orion Protocol‘s primary utility token, $ORN, is an ERC-20 token. The token supply limits at 100,000,000 ORN, and the circulating supply is approximately 3.8 million coins. Orion ensures ORN’s sustainability and aims to achieve this through various means:
- offering the uses for the token;
- non-inflationary staking;
- diminishing supply;
- profits for holders; and
- refund opportunities.
Uses of ORN
Uses of ORN scatter throughout many products of Orion. For instance:
- Orion terminal: Users get discounts on fees when paying using ORN. Also, they can earn terminal transaction fees and interest by staking ORN tokens.
- Decentralized brokerage: Brokers need to stake ORN to execute trades. On the contrary, non-brokers can stake ORN to determine for their chosen broker.
- Orion Enterprise: Licensing Fees induced will be used to purchase ORN and remove the total supply from the market.
Where can I trade ORN?
One can buy ORN with Ethereum (ETH) or USDT in various exchanges such as KuCoin, AscendEX, Uniswap, etc. Although, it is dealt with on the Bilaxy trading platform most actively. Orion also asserts that you can stake ORN tokens unnoticed on AscendEX, KuCoin, and Biki for staking around 39% APR bonuses.
Is Orion Protocol safe?
Online crypto exchanges provide wallets that are sensitive to hacking. Non-custodial solutions of Orion try to resolve this issue by allowing users to handle their assets without giving up their private keys.
Orion Protocol Review: Customer Support
Customer Support of Orion includes a chat service and a form to submit your queries.
- Enter your name and email ID,
- Choose a subject of query- Token Sale, Partnership, Beta access, and general question,
- Explain the query and submit the form.
Orion Protocol Review: Pros & Cons
- Best prices & Lowest Fees,
- Aggregated order books,
- Eighteen Revenue Streams,
- Arbitrage Opportunities,
- Decentralized and non-custodial,
- Cross-chain available,
- Profitable staking in DeFi,
- Offers aggregated liquidity for building new exchange- DEX Launcher, and
- Powerful Trading Tools – news, market analysis, and trading signals in real-time.
- The necessity to buy Orion primary token- ORN,
- Poor Customer Support.
Orion Protocol Review: Conclusion
Orion Protocol aggregates and gives sufficient liquidity for trading. It combines all the crypto exchanges and markets to provide a non-custodial decentralized platform. Apart from this, it offers 18 revenue options on its platform. It has a low transaction fee and the best prices. It aims to combine all exchanges rather than competing with them. The platform is easy-to-use and user-friendly.
Frequently Asked Questions
Orion Protocol offers the best of both worlds- Centralized and Decentralized. Orion absorbs all the liquidity from centralized platforms and provides a decentralized platform. Apart from this, it offers eighteen sources of revenue. It also enables trading at one spot without needing multiple accounts on different exchanges.
Sufficient liquidity by aggregating from all platforms,
Best prices & Lowest Fees,
Aggregated order books,
Decentralized and non-custodial,
Profitable staking in DeFi,
Eighteen Revenue Streams.
In simple words, a trading platform that provides access to all the available liquidity on the crypto markets by connecting all major centralized and decentralized exchanges into one station.
Orion tackles the issue of high cost through its proprietary staking mechanism- Delegated Proof of Broker (or DPoB). Orion allows brokers to use high-volume trading accounts on exchanges and benefit from lower fees than the average trader. Also, it gives them access to high-volume trading rates without being a high-volume trader.
Orion Trading Terminal facilitates Trading with the liquidity of the entire crypto market while still holding custody of your assets, eliminating the risks from hacking.
Orion solves liquidity through Orion Trading Terminal, which seamlessly aggregates liquidity across all major exchanges, centralized and decentralized, enabling you to buy or sell assets at the best price, every time.