Orion Joins Elrond in a Strategic Partnership

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.

TLDR

  • 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

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.

About Orion

Twitter: https://twitter.com/orion_protocol

Telegram: https://t.me/orionprotocol

About Elrond

Twitter: https://twitter.com/elrondnetwork

Telegram: https://t.me/ElrondNetwork

Family, Crypto, and Manchester City FC.