Blockchain technology is a rapidly evolving sector. Countless projects are born left and right, all sharing the same goal — innovate. With innovation, comes adaptation. Sometimes it’s difficult to keep up with the latest trends and industry solutions, especially when everyone claims that their approach is best. So, we are forced to conduct our due diligence and weed out the noise in order to find true quality.
After careful research, we’re proud to announce our strategic partnership with a project that has an enormous capability — Elrond.
- By integrating Orion’s trading capabilities with Elrond’s high throughput and fast finality infrastructure, users can easily access different crypto assets with access to the combined liquidity of traditional centralized crypto exchanges and decentralized exchanges.
- Orion will make use of Elrond’s blockchain interoperability features.
- Orion provides vast liquidity for cross-chain trading through staking from the shared liquidity pool of brokers.
- The Elrond blockchain will be used as a settlement platform for trading on Orion.
- Orion will bring a significant number of transactions to the Elrond blockchain.
- Using smart contracts on Elrond will allow users to sign trading orders (intent to buy or sell a particular asset from one another) using their private key and submit them to Orion’s matching engines (DEXs).
A Mutually Beneficial Partnership
Elrond’s high throughput characteristics combined with Orion’s high-performance matching engine is the perfect combination of technologies, making it possible for real world high frequency trading in a completely decentralized way. This wasn’t achievable before due to the well-known performance limitations of existing blockchains.
By integrating the Orion Trading Terminal with the Elrond infrastructure, tokens issued on Elrond will be directly exchangeable with all other tokens in the Orion ecosystem.
Orion will adapt its matching engines to work on Elrond for settlement and transferring of digital assets during trades. Orion matchers form the second layer network of relayers to exchange orders between them, sharing liquidity. The trade is final when a transaction is successfully included in the block by miners. So Elrond’s blockchain scalability is absolutely important for improving a user’s trading experience.
Special purpose Orion smart contracts working on Elrond’s Virtual Machine implements all of the necessary sophisticated logic to perform peer-to-peer exchanges of different crypto assets between traders.
“We are proud to partner with Elrond and work together to bring a decentralized trading experience that is unmatched. Elrond’s unparalleled performance and scalability allows completely moving high-frequency trading familiar in traditional stock exchanges, to blockchain technology.” -Alexey Koloskov, CEO of Orion Protocol
“Leveling the playing field between centralized and decentralized exchanges, in order to bring liquidity in the fragmented crypto space, is an important step towards a truly free and direct marketplace. Orion Protocol has the right tools and approach for achieving this goal, and needs a fast infrastructure & interoperability to come to life. We are pleased to support their vision and to enable their goals with Elrond’s high throughput and fast finality.” -Beniamin Mincu, CEO & Founder of Elrond.
This long term collaboration between Orion and Elrond will add significant value to the DeFi sector for years to come. We’re excited to see the impact it will make in the industry, and couldn’t be happier to have partnered with Elrond.
Orion is an all-in-one platform featuring a wide array of DeFi products. Its advanced Liquidity Aggregator Protocol is a standard for connecting to centralized and decentralized exchanges, enabling an ecosystem of dApps to solve liquidity issues and price parity. Orion enables cross-chain trading, omni-exchange accessibility, and liquidity among many other industry-needed features.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.