DAO Maker x Orion Protocol AMA summary
I’m Alexey Koloskov, I’m co-founder and CEO of Orion Protocol. It’s a big pleasure to be here in your great community and answer any questions about our project Orion Protocol, it’s vision, strategies, updates, and the current token sale. Built on the most advanced liquidity aggregator ever developed, Orion Protocol solves some of the largest issues in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform. Orion brings immense liquidity from major centralized exchanges via its decentralized pool of brokers and makes it available for trading in a decentralized way utilizing public blockchain settlement and always guarantees the best prices on the market.
Alexey: CEO of Orion Protocol
Hatu: CMO of DAO Maker
Questions are in the Italic text, answers are plain text
Question by John51286: What is the uniqueness of the Orion Protocol that cannot be found in other projects that’s been released so far? And how the demand of your $ORN will increase in the future? or what steps would you take to increase the demand?s
Alexey: Traders are being forced to trust large monopolized exchanges with their assets in order to access the liquidity they need to trade — entities that are prone to the very issues that crypto is supposed to eliminate — leaving traders at risk. Decentralized alternatives have arisen to provide traders with access to liquidity while retaining ownership of their assets, but decentralized exchanges often lack the liquidity, trading pairs, user experience, and features traders are looking for. Currently, no solution in market offers traders the liquidity, custody, and accessibility they need in one platform. Orion includes at least ten revenue streams all of them are underpinned by $ORN token.
vs centralized exchanges: Orion connects straight to your decentralized wallet, but has the orderbook of every centralized exchange with its decentralized broker mechanism.
So you get all the coins that any centralized exchange has, and their liquidity, but you get to keep your coins in your wallet.
vs DEX: far more liquidity as CEX orderbooks are part of this
vs aggregators like 1inch: this aggregates every exchange, even centralized ones
vs Tagumi (bought by Coinbase for $100M): unlike Tagumi which only aggregates CEX, this also aggregates DEX. Plus, Tagumi requires custody to be given to them, so they take your coins from you.
Security and the underlying protocol
Question by Kokos217: If the smart contract is securing user funds, why do brokers need to stake anything? Also, broker staking seems to be a crucial value point. How does broker staking play in with products besides terminal, since you have lending, oracle, and other solutions on the way?
Alexey: Staking to the Broker Pool serves 2 main purposes:
- Choosing the brokers who will execute an order based on the staked amount. The more Orion tokens that a broker stakes, the higher the chances of the broker being chosen to execute the trade and receive the rewards, similar to PoS mechanism.
- Staked amount is used as collateral for possible price volatility until the broker withdraws all necessary funds from exchanges to cover all open positions.
Question by mezoantropo21: If Orion aggregates large volume across the whole crypto market will it not be dangerous for security as you become a single point of failure?
Alexey: Again from a security point of view there is absolutely no risk for traders’ funds irrespectively of the volume.
Re: SPoF we’re paying special attention to make our core modules be highly accessible and available to have several replicas and simultaneously working modules. Moreover, most of the components can be run by the community which provides true decentralization of the protocol. E.g. community will be able to run their own version of Orion matches
Business model and growth operational plans
Question by Jatin_6: How will ORION team attract users who often use top exchanges?
Alexey: Top exchanges provide much of the liquidity in market — we’re aggregating the liquidity from all of them into one easy-to-use platform. We’re providing the best prices and lowest fees in market with almost zero spread, due to our aggregated order books from every major exchange. Embedded within the terminal are robust trading tools that provide you with all of the news, market analysis, and trading signals in real- time to conduct successful trades. On top of this, we’re providing arbitrage opportunities without the need to open and manage any accounts.
Time: traders no longer need to waste time exchange-hopping. For the first time, they can access the liquidity of the entire crypto market in one place.
Money: traders no longer need to worry about finding the best price for their assets. Orion aggregates all major exchange liquidity into one seamlessly aggregated order book to provide them with the best price possible. By aggregating every order book, Orion provides the best prices and lowest fees in market with almost zero spread and zero slippage.
Assets: traders no longer need to risk their assets to access liquidity. Now, they can simply connect their wallet and execute their order across any major exchange — even those they don’t have accounts with.
Question by Cryp33334557789: How is it determined which coins can be bought or sold using Orion Protocol?
Alexey: By aggregating the liquidity of the entire crypto market into one platform, from every centralized exchange, decentralized exchange, and swapping pool, we provide over 10,000 trading pairs. At first the most used and liquid pair will be listed. Later will implement decentralized process of listing underpinned by $ORN token
Collaborations with Partners
Hatu: There were a series of questions about how you are collaborating with projects like Holochain and Elrond.Would you be able to shed light on this?
Alexey: We’ve been working with them for a quite a long time and will reveal details on the integration very soon.
Question by T_Ashish08: As you mentioned that Orion Enterprise Trade Widget is “ eliminating the barrier between your token and the client “ ! But How? Can you explain How Orion Protocol can eliminate the barrier between Token & Clients? Could you explain, How Orion’s Enterprise Widget actually works? Could you also clarify how your Oracle can compete against the one made by Chainlink, Tellor, and Band. The only product those projects have is an oracle and they focus on it day and night, so how can you beat this?
Alexey: Enterprise companies will be able to accept payments from their clients including non-crypto clients (via fiat onramps) and receive them in the form of their own tokens or stable coins.
Orion Enterprise Trade Widget eliminates any friction by bridging the gap between non-blockchain clients and crypto projects while still maintaining the interests of all parties, bringing crypto to the mainstream by facilitating token use in traditional business.
It provides a middle layer between crypto projects with utility tokens and all available liquidity of the token on the markets.
We enable a project’s enterprise clients to purchase tokens directly from the project’s platform or website by routing orders from all exchanges carrying the token, returning tokens for immediate use.
Projects will Install Orion Enterprise Trade Widget on their site or platform using simple lines of code.
Then they will connect their bank account to receive fiat from non-blockchain clients. All tokens purchased by enterprise clients will go to their wallet for custody, eliminating the need for clients to manage private keys.
Each client that purchases tokens will have credit available for use, allowing them to pay for services without handling tokens or difficult transactions. The project will retain custody of the tokens, and will be sent an alert detailing the client, amount purchased, and the price paid.
This means there’s no need for non-blockchain clients to go on to exchanges, and no need for projects to maintain a treasury department — keeping the market sentiment favorable.
More details are here: https://www.orionprotocol.io/enterprisetrade
As Orion aggregates liquidity from all major crypto markets our price is more accurate and has the least slippage of any liquidity solution on the market. Users can trade with the liquidity of the entire crypto market at the best price, every time. Aggregation of the industry’s order books also ensures protection from slippage that no individual exchange alone can offer, creating the opportunity for the most powerful high-margin trading solution available
Hatu: For those who are new to the project, here is some clarity on product release. The protocol is not equal to the terminal.
The protocol uses the distributed broker mechanism to bring the liquidity and trade pairs (coin options) of every DEX and centralized exchange in 1 place. The terminal is a way to take advantage of the protocol, but it focuses on trade. However, by bringing all coins and liquidity into 1 place, the protocol beats other price discovery options, so makes better oracles than anyone else a low-hanging fruit. Lending and margin options extend the terminal’s benefits. More DeFi solutions are made possible simply because the protocol makes non-custodial ownership and their tradeability convenient without removing liquidity.
Question by RozeQueen: Liquidity, custody, accessibility, and scalability in one platform. That’s actually very useful for traders !!But, When dealing with cryptocurrency exchanges, SECURITY plays a major role.
Recently many exchanges hacked? Can you tell us Is there any Security insurance Funds like SAFU provided by ORION If unfortunately ORION were hacked or suffered from security breaches? A question regarding buyback👇
Some of the major exchanges will Do a BuyBack program or Commission for loyal holders with Collected fees. Now, DO you offer the same for traders?
Alexey: We will have different fee models but all of them will be completely transparent
Hatu: It’s decentralized. You keep your funds and tap into Orion Protocol’s products at the moment of your trade.
Question by Dustyllanos: We have Kucoin Spotlight, Binance LaunchPad, or OKEx Jumpstart for Legit token Offerings, But Why DYCO?
Hatu: Because the average DAO Maker accelerated project outperformed IEOs by a huge margin on not only all-time highs, but long-term ROI too.
And now the projects we accelerate will go through DYCO framework.
Question by Rinhere: What is the use case of ORN token in your ecosystem and what is the mean of dynamic coin offering?
Hatu: This will help:
Question by Nickkii: You claim to have the most profitable staking in DeFi, Convince me why I should stake my tokens using the Delegated Proof of Broker model?
Alexey: Most profitable because all transaction fee received will be distributed to Brokers which further share them with their voters. Addition integration with other DiFi providers for lending, margin trading etc gives more interest in addition to trading transaction fee commissions
Question by Jejelane: Many things can happen and make a team not to deliver, see the COVID-19 for instance. How do you factor such scenarios into DYCO such that every party will be equally favored?
Hatu: Every single token sold under the DYCO framework can be refunded so, in case of any adverse events, buyers have an advantageous position. This level of buyer security does not exist anywhere else.
Question by JoxesXIII: I want to ask about the performance of the network to make the exchange, does this protocol have enough capacity and speed to overcome the problems associated with latency? Many DEX have been successful at first and then the community loses interest, how Orion plans to have a different trend, more successful? Thank you
Alexey: We use highly performant service-connected the major exchanges in the realtime. We pay special attention to the performance from day one.
Question by kripto_mangunkusumo: Hello Alexy, I heard that Orion has joined the ranks of MakerDAO, Celcius, and Swissborg to become a founding member of WeWork’s Blockchain. What are the utilities of this partnership?
Alexey: WeWork Labs provides us access to a progressive environment of FinTech & Blockchain focused entrepreneurs, industry experts, guided mentorship, and investors. We’re honored to have access to a number of mentors, including:
Arthur Breitman, founder of Tezos
Paul Veradittakit, Investor at Pantera Capital
Teck Chia, Head of Binance X
Vanessa Grellet, Executive Director at ConsenSys
Chris Zhong, Blockchain & Emerging Tech Lead at Accenture
Jules Miller, Co-Founder of IBM Blockchain Ventures
Gustav Arentenoft, Business Development at MakerDAO
Ivan Perez, Director of Business Development at Multiplied
Jacqui Hatfield, Partner at Orrick, Herrington & Sutcliffe
This partnership adds priceless connections, mentorship, and support that will prove essential to our success. We’re thrilled and humbled to be in such a promising position to lead the way in DeFi.
Question by Sayuri1: Q1: In the case of the DAI auction last month which caused the collateral value of CDP holders to fall below the required 150%. How can you convince people to believe in Defi especially in Orion Protocol?
Q2: DEFI PULSE said that a total of 902M is currently locked. According to you, how will this number change in the next few years, and how will Orion Protocol position itself as the top player in this market segment?
Hatu: Much of the existing issues with DeFi are a byproduct of limited liquidity or orderbook depth.
The aggregator Orion has built pulls in the liquidity of every centralized and decentralized exchange in 1 access-point, so the issue of limited liquidity and orderbook depth does not apply here. This is the solution DeFi has needed and because of that, the roadmap includes products beyond the terminal, oracle, lending, and margin options will be released rapidly.
Question by rinnguyen: Did I heard it Right???That DYCO offers its participants the ability to refund any token if they aren’t satisfied by the project performance, If I Remember, I have not seen any Project team saying that because in crypto market Everything is Unpredictable, isn’t it?
What’ the main key factor is there that You guys are so Confident in the project?
Hatu: Because the project is not started from scratch. In fact, the funding is for scaling the launch.
The technology has been developed over the past 2 years, with the early phase being bootstrapped by the team’s own money.
Question by CryptoDurden: You have very strong partners such as Elrond and Holochain. How did you find quality partners and what are the selection criteria?
Alexey: Orion is chain agnostic so we can be flexible with our needs. We can, and will, migrate several parts of the project over to different chains as we see fit. We feel we’ve partnered with some of the best blockchains/DLTs in the industry and we’re fully confident in their capabilities. You can learn more about our partnerships here: https://www.orionprotocol.io/partners
Question by MaxiVV: If I want to refund Orion TOKEN by DYCO, how will be this process? How secure is it for investors to invest in this kind of token sale? and, what are the risks if the token value falls more than 20% from the initial price?What are those TEN REVENUE STREAMS that you made mention in the Orion protocol page?
Hatu: If token price falls below price floor, DYCO buyers benefit from an arbitrage opportunity by buying tokens cheaper than their refund value.
We called it a mirror flip, where a drop in token’s price has the same benefit as an increase in token price. And the ability to claim refunds is exclusive to token sale participants so they have privileges that exchange buyers won’t.
What is a Mirror Flip and How to Profit Through It?
The money-backed state of tokens issued under the DYCO framework makes it possible to profit on a token even if it…
Question by Pauliandriano: What are the plans to make the Orion Protocol’s platform popular? And what companies are you partnered with or seeking to partner with in the future?
Alexey: We’re aggregating the liquidity from all of them into one easy-to-use platform. We’re providing the best prices and lowest fees in the market with almost zero spread, due to our aggregated order books from every major exchange. On top of this, we’re providing arbitrage opportunities and many other DiFi products will be built on Orion Platform.
Question by TSG_crypt: You have experience with Waves. Is it possible to use atomic swaps on the Orion platform?
Alexey: Atomic swaps are integrated into our protocol to provide cross-chain trading in a decentralized way.
Question by Randyarl: The DEX Toolkit seems very interesting! It’s so cool everyone can make a DEX easily! But my question is, with low transaction fees from Orion, will it also force the DEX client to run low fee exchange as well? It is tricky because the toolkit might not be seen as a profitable tool for the client.
Alexey: Many new blockchains can benefit form using DEX kit to launch new DEX very quickly. They will choose the fee model based on their needs.
Question by IEO_alert: ORION trading platform has its own Native Cryptocurrency which is ORN Token! But, What’s the main Work of $ORN in Orion? Are there any Benefits of Holding $ORN Coins in ORION Exchange or Discount on Trading Fees, etc? Why any trader should buy $ORN if they’re Trading on ORION?
Alexey: At the core of Orion Protocol is the ORN token. Orion has ensured deep utility of the token across the ecosystem, integrating it into all main transactions to take the form of an internal currency or utility token. It’s required for payments, staking, participation, and the unlocking of advantageous network access with discounts on trading, oracle usage, and Protocol access.
Orion Terminal: similar to the tokens integrated with platforms like Binance, ORN will give holders a range of benefits, plus additional functionality that will add further value to users. Orion Terminal users can gain a fee discount when paying with the ORN token, and also are able to earn additional transaction fees by staking ORN.
Decentralized Brokerage: Brokers must stake ORN tokens to be chosen to execute trades, while non-brokers stake ORN tokens to vote for their broker of choice.
Orion Enterprise: The token utility of each DeFi solution lies in the integral role the ORN token plays in the decentralized brokerage, with every transaction within each solution acting as a trade being carried out by a broker. Profit share from each transaction will be shared back to the respective brokers in the form of ORN tokens.
Instead of a growing supply for sharing benefits, we provide stakers with benefits generated via our revenue models.
Question by Bobbyfernandito: Most investors only focus on the price of tokens in the short term, not the actual value of the project. Can you tell me the benefits of holding ORN & DYCO for long-term investors?
Hatu: The DYCO gives an opportunity that has not existed before.
Downside protection while still allowing exposure to all the upside.
Moreover, the protection lasts for 16 months (even though you can initiate refunds at early points). This means that you have exposure to the upside whenever it kicks in for a very long period of time, while still being protected the whole time.
So you have the opportunity to assess growth and whether you want to remain a holder at each point of the roadmap, and see the value of each product launch.
The point of the protection for such a long term is to give you the ability to see the product launch and validate its performance and market demand. Then, you decide to remain a holder or claim your refund (for even all your tokens).
DAO Maker intends to make the DYCO framework and the protection it offers a norm in the projects it accelerates from now on.
Happy to see Orion the first project to utilize it. It clearly shows the team is very confident in their development, as they’ve been working on it for the past 2 years, using much of their own money to bootstrap it.
Question by Dustyllanos: What Makes You Believe that Staking with Orion Protocol is the Most Profitable Staking in Defi?
Alexey: Transaction fee + lending + margin trading + derivative + interests from other DeFi providers
Question by Oluwamayowa06: You said there is “STOP LOSS”. How possible is this in DYCO, and can you explain better on it?
Alexey: Yes, will support different order types: Market, Limit, Stop Loss/Take profits etc…
Question SPADE_1: What’s new in Orion’s DeFi platform compared to other Defi projects? What problems do Orion’s DeFi solutions solve?
Hatu: Aggregation of all DEX and centralized exchanges’ liquidity and coins in 1 place
Question by BJosefina61: Why have you chosen to be in three blockchains simultaneously, Ethereum, Wanchain and Holochain?
What are the problems that Orion Protocol solves according to other unsatisfactory DEX projects and how extensive and accessible will it be for users unfamiliar with the technical part of this technology?
And to FINISH this AMA, sir, please, you could classify the most interesting aspects of ORION PROTOCOL according to the following characteristics:
1. More attractive
2. More abstract
3. More innovative
Alexey: Orion is chain agnostic so we can be flexible with our needs. We’ve already implemented reference implementations on several different blockchains
Question by Temptation_Provider: It often happens that prices on exchanges are very different. Will Orion have arbitration tools?
Alexey: Yes, we’ll provide a possibility to earn form arbitrage opportunities for our traders
Question by oidiotso: Delegated Proof of Broker (DPoB) is the latest betting model that underpins the Orion ecosystem, so how is it built? How will brokers and producers benefit from their assets for the best stake in DeFi?
Alexey: Delegated Proof of Broker (DPoB) is the latest staking model that underpins Orion’s ecosystem, built on a network of brokers and stakers.
Designed using advantages from Proof of Stake, DPoB is comprised of two core components: Brokers and Non-Broker Stakers. Brokers with exchange accounts run Orion Broker Software, automatically executing trades routed from Orion’s liquidity aggregator. Brokers are chosen to execute trades based on how much ORN, Orion’s native token, they stake. Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered. Brokers are incentivized to offer attractive rates to Non-Broker Stakers to grow their stake, increasing their chance of being chosen.
Given the dynamic and democratic nature of the variable reward share, the staking process alone has the opportunity to be a highly beneficial way to earn passive benefits. But, not satisfied with this alone, Orion has partnered with several DeFi providers to provide the crypto industry with the most beneficial staking mechanism in DeFi, further monetizing Orion’s Decentralized Brokerage via lending platforms. Orion will monetize the ORN tokens staked in the Decentralized Brokerage to earn additional interest via these lending platforms. The interest is then distributed back to Brokers and Non-Broker Stakers for increased results: achieving optimal results for their Decentralized Brokerage and the highest yield for stakers.
You can read more about this here: https://blog.orionprotocol.io/delegated-proof-of-broker
Question by Aleurich: How does Orion integrate all exchanges and allows us to make transactions without having to create an account on them? How is it possible with funds on one platform to make transactions on another?
Alexey: Instead of competing with exchanges and swapping pools, we unite their order books into one easy-to-use terminal, giving you access to the entire crypto market in one place. Simply connect your wallet and execute your order across any major exchange — even those you don’t have accounts with. This means you can trade across all major exchanges without the need to ever open an account again.
Hatu: In fact, some of the earliest brokers that have currently signed on are some of the biggest exchanges in the market. Names to be announced soon. :)
Alexey: Thank you guys for your great and deep questions! Unfortunately, not all of them were answered. But they definitely deserve to be answered in our subsequent blog posts and articles.
To read more about Orion Protocol click here
To learn more about DYCO click here
Ben from Dao Maker
DAO Maker is a strategy and marketing consultancy that is also an industry researcher, Key Opinion Leader, and technology developer.
The company uses its proprietary Social Mining technology to double their clients’ token utility and massively expand the community. The expert team then designs strategies for business growth, user onboarding, powerful token economics, and global marketing, executing most deliverables at rapid speed in order to accelerate clients’ footprint in the blockchain space and beyond.