The DeFi space is still exploding with new projects worth keeping an eye on. Several aspects of the Orion Protocol certainly make it rather unique compared to other projects. Unlocking the true potential of decentralized finance certainly looks appealing.
A Very Powerful Terminal
One of the primary visual selling points of the Orion Protocol is its trading terminal interface. Known as the Orion Terminal, it provides access to liquidity of the entire cryptocurrency industry through a decentralized platform. Users are not required to share their private keys or create specific accounts for each individual trading platform.
By aggregating the liquidity, order book, and price discovery from CEXes, DEXes, and swapping pools,users are given unprecedented access to everything this industry has to offer. It is remarkable how much liquidity is out there, even if it is fractured across different platforms. Combining everything into one neat package is beneficial to any cryptocurrency enthusiast out there.
Orion Protocol is Non-Custodial
For a platform providing such access to different trading platforms, it is remarkable how Orion Protocol is non-custodial. Users can trade from their own wallets, whether they are software of hardware options. This is true decentralization at its finest, and something no other DeFi protocol can provide today.
Different DeFi Solutions
Most people may look at Orion Protocol as a trading terminal. Under the hood, it is about so much more. There are different DeFi products and services one can access as part of this platform today, with more being added in the future.
Options to explore include lending, margin trading, price oracles, a liquidity boost plugin, and so forth. It is evident that the developers are intent on making this protocol as versatile as possible. More solutions are being built on top of Orion Protocol, according to the roadmap.
Brokerage and Staking Opportunities
Another interesting aspect of the Orion Protocol is the option to become a broker. Users with exchange accounts can run the Broker Software to automatically execute trades transmitted via the liquidity aggregator. Becoming a broker requires the native ORN token. Currently, it appears that 10,000 ORN will be needed to become a broker.
The other option is to simply stake ORN to vote for one’s Broker of choice. Every broker is incentivized to provide competitive rates to other network users. This will allow them to grow their stake and increase their chance of being selected by network participants.
High Staking Yield
Speaking of staking ORN, users doing so through the BitMax exchange are collecting high yields. More specifically, the current staking rate sits at 39% annually. Although this is a pre-staking program, the rewards will be paid out accordingly.
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