Fans of the Orion Protocol will be quite pleased with the wave of recent news and announcements. Even though this project is still rather new, it has grown its community fairly quickly. That growth is likely to continue in the foreseeable future.
39% APR Pre-Staking Continues
Users who already own ORN can pre-stake the asset on a few different exchanges. Doing so yields a rather handsome return of 39% APR. Although this rate was initially confirmed for the first month only, the Orion Protocol team has confirmed it will extend this APR for another month.
Not only will this yield good rewards for existing stakers, it may also attract new investors and holders. Proof-of-stake currencies often tend to lose traction after the first few months, especially when rewards start to drop. ORN is not just a PoS coin, however, as the overarching ecosystem offers a lot of benefits.
Orbit Testnet Launch
One of the many services and products under the Orion Protocol umbrella is called Orion Terminal. This is the trading “desk” which aggregates liquidity from all exchanges in the industry today. Not only will this include centralized exchanges, such as Binance, OKEx, and Bitstamp, but also the DEXes that keep generating more and more trading volume.
According to a recent post, the beta for Orion Terminal has officially begun. The Orbit testnet has been launched to let users get acquainted with this trading terminal. To ensure everything works as expected, the team also launched a bug bounty pool. Removing any bugs from the code is crucial prior to launching the Orion Terminal mainnet implementation.
70% of ORN Staked
Not that long ago, we mentioned how a significant amount of the ORN supply is currently locked in pre-staking. This amount has increased since that time, as roughly 70% of all tokens are now in staking positions. That represents an overall value of just under $15.5 million, which is rather impressive for such a young project.
Due to the huge success of the initiative so far, 39% APR will be continued for pre-stakers for another month.
💰 2.7M ORN staked
💰 70% of circulating supply
💰 $15M est. staked value (CMC)
— Orion Protocol (@orion_protocol) August 14, 2020
Continuing this momentum will be challenging. The extended 39% APR for stakers will certainly attract some attention. Moreover, the Orbit testnet shows the trading terminal part of the ecosystem is nearing completion. Keeping people excited is best done by delivering on initial promises and the roadmap. So far, Orion Protocol is doing just that.
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