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AMA RECAP : DeFi Raccoons x Orion Protocol

Date : 25 JUNE 2021
Host : DeFi Naut
Guest :Orion Protocol Team ( Timothea — CMO ).


DeFi Naut:

I hope you’ve made yourself comfortable and will enjoy today’s session, so let’s get started. Welcome @…… This isn’t our first AMA but obviously there are a lot of new raccoons since the first one so we’re very happy to have you hear today and teach them all about Orion Protocol. Please introduce yourself to the Raccoons!

Timothea | Orion Protocol:

But, while I’m in *this* group, thanks again for having me! I’m Timothea and I’m Orion’s CMO. Over the last decade I’ve worked predominantly with tech companies in the data, mobile, and fintech space — from building business strategies at a start-up incubator through to Head of Marketing and Research at Telefonica. I joined Orion Protocol in 2019** when I met with some of the team — led by Alexey Koloskov, the creator and Chief Architect of the Waves DEX — and realized that what they were building would revolutionize trading by creating a much needed, decentralized, portal to the entire crypto market 🔥🔥

DeFi Naut:

Now if this isn’t impressive, then I don’t know what is

We like to start off with an elevator-pitch for the people that haven’t yet heard of Orion Protocol — tell us what Orion Protocol is and what are you guys trying to build?

Timothea | Orion Protocol:

Of course! A bit of context first as to why we exist though…

Despite the recent growth in DEXs and swap pools, the majority of liquidity in market is still held on centralized exchanges. But to us, centralization is inherently anti-blockchain — the industry was built on a desire for an alternative to traditional centralized entities…

In the wake of a number of exchange hacks outages in the last month alone, ‘not your keys, not your coins’ remains as true as ever sadly. As I said, DEXs have grown in popularity, but because of the illiquidity of most of them, users see high spread, high slippage, and rarely the best price for their assets, so traders still often have to risk their assets on centralized entities to access the majority of the market.

DeFi Naut:

Yes it’s quite apparent actually, if you look at a lot of recently launched tokens, liquidity has completely disappeared

It’s sad to see, so Orion Protocol could bring a solution here?

Timothea | Orion Protocol:

Indeed, the fragmentation of the industry doesn’t help that either… We’ve got different asset types build on different blockchains held on different exchanges, centralized and decentralized

Resulting in these siloed pools of liquidity without any infrastructure to bridge them together… so that’s what we’ve built 🙂

We’re building the decentralized gateway to the digital asset market — building on almost all major blockchains to aggregate all major exchange liquidity (centralized and decentralized) into one non-custodial platform for the first time. Our goal is to provide one portal that enables access to the entire market, regardless of jurisdiction, while retaining that all important ownership of their assets.

We haven’t aggregated the market in its entirety *yet*, but that’s where we’re headed!

What we’ve achieved, for the first time, is the decentralization of this centralised liquidity — Orion Terminal users can now trade 1,000 pairs and a growing number of assets across the likes of Binance, KuCoin and many others to come for the best price every time, securely from their wallet — without giving up ownership of their funds or conducting KYC


A couple of months in and we’re seeing ~$30m daily volume so far, which will only increase with upcoming integrations of the likes of Uniswap, Pancakeswap, Sushiswap, and a load of other centralized exchanges

DeFi Naut:

Does a project need to give it’s approval for that or not?

Or can you guys pretty much integrate any token you want

Timothea | Orion Protocol:

Yep! Even ahead of those integrations we’re the first platform that allows non-custodial trading between both centralized and decentralized liquidity in one place… As well as ensuring the best price every time, this opens up a whole new world of arbitrage opportunities across decentralized + centralized liquidity sources 💸💸

DeFi Naut:

So lets say I want to acquire bitcoin, do I have to buy the wrapped erc20 version or can I connect some type of bitcoin wallet? or how does it work?

Timothea | Orion Protocol:

We have a few methods of onboarding new tokens. From centralized sources, this is done via our proprietary governance mechanism Delegated Proof of Broker. A broker with an exchange account (or exchanges themselves) enables us access to the funds and assets in their accounts.

Onboarding new tokens this way can be quite labor intensive, but for DEXs, it’s a simple API feed. So, once we’ve integrated the likes of Uniswap etc, our number of assets + pairs will increase significantly

We currently have 47 assets and 1,000 pairs (via complex swap)

BTC on the terminal is only available on BSC, but we’re integrating a load of other chains (Cardano, Polkadot, Huobi Eco Chain, Fantom, Elrond, Avalanche)

DeFi Naut:

Orion Protocol recently partnered with IOHK to bring a one-stop crypto marketplace to Cardano. Can you tell us more about this partnership?

Timothea | Orion Protocol:

Before jumping into Cardano and what it means, I will reiterate that Orion is chain-agnostic — our goal is to integrate every major blockchain. This is critical for us because while we all *talk* about interoperability, the space is still too siloed to evolve to a state of full-interoperability without a solution that sits across the entire market, from an asset, exchange, and blockchain level.

Being able to trade any asset on one chain on one exchange seamlessly with another asset on another chain and another exchange is what we’re working to achieve — and what we NEED to achieve as an industry for mainstream adoption

DeFi Naut:

It’s gotten to the point where interoperability has become a meme 😄

Timothea | Orion Protocol:

Yep, I guess for so long blockchains have really been built in a vacuum, dev teams creating their own protocols with their own consensus algorithms, their own validator pools, etc etc etc

DeFi Naut:

Does the interoperability problem need to be solved first in order for Orion Protocol to truly function?

Timothea | Orion Protocol:

Really each of the chain we’ve partnered with bring immense value to our terminal for our end users, from accessibility through to performance — latency, cost, and scalability.. What we like about Cardano in particular is that they share our ethos of ‘we don’t compete, we complete’ — we both understand there are a growing number of chains and exchanges developing… And we’re both working to create the infrastructures that connect them and allow them to interact.

No! Our primary goal for the terminal is to aggregate exchange liquidity to enable users to save their time, their money, and their assets. We’re doing that right now 🙂

Users don’t have to exchange hop to find the best prices, and they can access major exchange liquidity directly from their wallet

Get more for your money on Orion Terminal 💸

Get the best price for your trades on Orion Terminal while securely connected to your wallet. No account, no KYC.

In this example, you would receive 1,244 more ADA for your trade when buying on Orion Terminal vs PancakeSwap.

PancakeSwap: $1.3441

Orion Terminal: $1.3220

Trade now:

Get the best price for your trade, every time 💸

This is because Orion Terminal aggregates order books from multiple exchanges, providing you access to the best price — directly from your wallet.

In this example, you’ll save around $150 when buying ETH on Orion Terminal versus UniSwap (saving ~$55 per ETH).

Trade now:

Learn more:

We’ve got lots of examples over on our Twitter and @orionprotocolnews channel, not just ADA 😉

The point being, regardless of the asset or exchange, Orion Terminal will find the best price for your trade

DeFi Naut:

Well what sounds attractive to me personally is that it sounds very convenient

because right now a lot of people I know rather use uniswap vs binance but still need to go to binance afterwards if they need some type of other assets that is not on Ethereum

Timothea | Orion Protocol:

Yep, that’s what we’re working on! It seems a number of Cex/dex aggregators are popping up recently, but no one can actually provide access to this centralized exchange liquidity without KYC or an account (and regardless of jurisdiction)

For US users, I think this is particularly important

DeFi Naut:

You also recently appeared on Cardano360, could you tell us more about that outlet or show? Is there any way for the #DeFiRaccoons to rewatch the material?

Timothea | Orion Protocol:

Yep, it was a real honor to be on the show alongside the Cardano team -they have a huge reach and following so it was great exposure for us. Here’s the link for where the Orion segment starts:

DeFi Naut:

Their ecosystem has been growing in anticipation of their smart contracts that will be arriving soon

What’s the NFT aggregator?

Timothea | Orion Protocol:

So, arguably NFT marketplaces are even more fragmented than the overall crypto space… Our NFT aggregator will pull in all major NFT marketplace liquidity into the terminal, providing one point of access to the NFT space

Not only that, but most marketplaces take only BTC and ETH as payment methods. On Orion Terminal, traders will be able to seamlessly swap any token for an NFT via a complex swap

DeFi Naut:

So will it be like a sort of marketplace that lists all the NFTs from all marketplaces?

Timothea | Orion Protocol:

In terms of what this means for us + Cardano:

- Accessibility and volume of Cadano/IOG NFTs

- Addition of ADA as a means of purchasing NFTs

- Moving NFTs from other chains to Cardano

Indeed, the infrastructure itself has pretty much been built already, now we’re just working on the interface to best display the NFTs all in one place

DeFi Naut:

When do you expect it to go live?

Timothea | Orion Protocol:

I won’t reveal dates just yet (gotten stung by that in the past 😅) but it’s a top priority for us + Cardano

So, pretty soon!

DeFi Naut:

OrionPool also went live recently. Can you expand on this milestone and why it’s important for the Orion Protocol ecosystem?

Timothea | Orion Protocol:

Yep! This was a big one for us for a few reasons

Firstly, we listened to our community and understood their desire for decentralized staking on the Terminal (as opposed to the pre-staking we had on CEXs). ORNies are too precious to lose afterall 😉 So we combined two existing forms of pre-staking in the form of ‘Main Net Pre-Staking’

Orion Pool is made up of Liquidity Providers + Governance Stakers -

Liquidity Providers (multi-asset staking)

Receive Liquidity Mining rewards, spread across the multiple ORN pools (BNB, BUSD, USDT, ETH) — LPs provide 50:50 ORN and the matched asset. This will yield higher APRs, but as per any liquidity pool, impermanent loss can occur.

Currently, we have 40–90% APR

Governance Stakers (simple staking / single-asset staking)

Earn rewards by ‘voting’ with ORN on the pools to receive higher rewards. Liquidity Mining rewards will be spread between each pool according to the amount of votes they have, allowing ORN holders to determine the rate of rewards each pool receives. The APR is lower than LPs (~20%) but there’s no risk of IL!

On top of staking rewards, Orion Pool fees (0.3%) will be shared back to participants, with ⅔ going to Liquidity Providers and ⅓ going to Governance Stakers. There is no minimum or maximum ORN to stake, nor any minimum or maximum lock up period.

But critically for our infrastructure, this liquidity creates Orion Pool: Orion’s AMM solution integrated directly into the terminal. As usual, Orion will route all swap orders to the liquidity source with the best possible price.

DeFi Naut:

Is a lot being staked atm? Any insights in this?

Aside from the access and liquidity you guys pool, what about tokens that have no liquidity or market maker? Are they doomed?

Timothea | Orion Protocol:

We’re really pleased with the results so far! ~9m ORN staked (out of a circulating supply of 29m)

Well here’s what I think the best part of the pool is, any project can self list from next month. As I said earlier, we already have a ton of projects lined up ready to list, from million to billion dollar market cap projects.

For smaller projects, listing on Orion Pool enables global access of their asset, more complex order types than leading swaps (including limit orders), cross-trading against over 1,000 pairs, arbitrage opportunities, etc

Our COO was throwing around a pretty big number of upcoming listings in our traders chat earlier haha, so I’m excited to start rolling these out

With our AMM live and the ability for projects to list on Orion’s AMM right around the corner, the 2 pairs a week sounds measly. I have almost 100 projects that are ready to list. We will be rolling them out systemically in a new endeavor we’ll be carrying out but I’ll let Timothea chat more on that when the time is right.

DeFi Naut:

Lets talk about what you have in store for your community and partners in the near term? What is the next major milestone that the team is currently working on?

Timothea | Orion Protocol:

Well, you guys will be able to learn more about certain next steps in our development AMA on Monday, so I don’t want to give too much away 😉

But in the meantime, our immediate focuses are volume, infrastructure, and new features

We’ll be driving volume through:

- 3rd party listings on Orion Pool (bringing a significant number of new assets and pairs to the terminal)

- B2B solutions (with more in development beyond what we’ve already announced)

In terms of infrastructure, our focus is integrating the multiple chains we’ve partnered with to bring their assets and users to the terminal, as well as some other exciting things coming up

And in regards to features, next on our roadmap is our NFT marketplace, as well as margin and lending.



What are the examples of premium services that could be unlocked by ORN holders? Can you share to us what are these services offered in the platform?

Timothea | Orion Protocol:

These aren’t in place right now, but we’re working on enabling access to advanced trading features and priority access to new solutions by holding ORN. An exciting one for the very near future though, is holding ORN will enable participation in the IDO one of the first dapps built on the terminal — Bonsai. Really excited for this one! It’s an AI financial assistant that simplifies the process of buying, selling, sending, and receiving digital assets by allowing orders to be made via text or even voice commands. It’ll allow for fast, convenient management of user assets across the crypto market (including crypto, stocks, and commodities).

Dabbing Penguin:

Orion Protocol isnt just building an NFT marketplace but you are building an NFT TERMINAL which will serve as an NFT aggregator? How do you pool fragmented NFTs across marketplaces on various chains in to aggregate the liquidity of these Marketplaces in the Orion NFT Terminal?

Timothea | Orion Protocol:

It’s quite straight forward (I’m sure the devs would hate me for saying that) as it’s pretty much all on-chain and will be done via API feeds from the marketplaces themselves. We’re already working with several marketplaces on this


Q.What ways does Orion generate revenue over the long term? What is the business development of Orion and your some commercial partnerships?

Timothea | Orion Protocol:

Whoops, missed one. So this all comes down to our 18 revenue streams… From inception, we paid close attention to previous projects (both successful and unsuccessful) and identified one of the major causes of failure as lack of substantial revenue streams: focusing on one solution, one product, and one audience.

But obviously, we’re here to build a sustainable future of DeFi. So while Orion Terminal is our first solution in market, we have 18 upcming revenue streams across over a dozen solutions for traders, crypto projects, blockchains, and exchanges — each with the ORN token at its core.

Not only do multiple revenue streams ensure the longevity of Orion Protocol itself, but will benefit ORN holders and stakers, too:

- Unrivaled token utility

- Increased Daily Protocol Volume + subsequent staking returns

- Removal of ORN from circulation

- Sustainability of the Orion Protocol business

Other wallets can be connected through the likes of WalletConnect and others too, including Coinbase, TrustWallet, etc

We don’t have plans for our own wallet just yet, but an app is in the roadmap!


Orion Protocol takes into account the GAS FEE when making transactions, that is, do you try to save as much as possible?

Timothea | Orion Protocol:

Our solution here is to integrate as many low-cost chains as possible. Even though they haven’t been as bad lately, ETH fees still stuck 😅 one of the reasons we integrated BSC prior to launch was to reduce the gas fees signficantly for traders — staking and trading on Orion Terminal is significantly cheaper via BSC. A number of the chains we’ll be integrating will decrease this even further


Twitter Q1

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?

A1: Delegated Proof of Broker is built on a network of brokers and stakers, fulfilling every function on the protocol with ORN at its core. While our power brokers are up and running, this will be fully operational on the launch of our upcoming Main Net Staking.

Essentially, brokers with exchange accounts (or even exchanges themselves, such as Ascendex, Kucoin, MXC, and Injective) run Orion Broker Software and automatically execute trades routed from the liquidity aggregator via their trading accounts. Brokers are chosen to execute trades based on how much ORN they stake, and receive a portion of fees from each trade they execute.

Everyone has to play a role in order to receive rewards because we are a utility token — this fee is shared with ‘Non-Broker Stakers’ who stake ORN to ‘vote’ for the 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.

Brokers conduct KYC so traders dont have to, and although brokers are executing the trade on their behalf they never get access to traders’ accounts or funds as of course our smart contracts enforce secure conditions of exchange. Only if the order is filled by a selected broker will the transfer of assets occur atomically within the smart contract: the trader gives the sold asset in exchange for the bought asset. So it’s through these brokers that we’re able to decentralize centralized liquidity.

Rewards for brokers and non-broker stakers are generated from protocol volume, including Orion Terminal volume combined with the volume from all other DeFi products (including Liquidity Boost Plugin, DEX Kit, Enterprise Trade Widget, and Launchpad Liquidity). We’re going to have some B2B solutions live before Main Net Staking so stakers can get juicy rewards 💸

Twitter Q2

How can the community contribute to the progress of Orionprotocol? Do you have a Governance model? Is there and ambassadors or bug bounty or contest we can assist in so as to enable further adoption?

A2: We have a number of community initiatives! One I personally love is our social mining hub built by DAO Maker. It allows ORN holdersto earn more ORN for creating content, activity and engagement on social, etc. You can learn more here:

We also have an ongoing community initiative to translate the Terminal. We’re starting with Bengali, Chinese (Simplified), Dutch, Filipino, French, German, Hindi, Indonesian, Italian, Japanese, Persian, Polish, Portuguese, Romanian, Russian, Spanish, and Turkish, and will continue to add new languages as as we expand.

Twitter Q3

Now that we’re with the recent NFT token boom, could this really further increase the innovation #Orion brings to projects that create their stores on it? How will the NFTs benefit those projects? Will they be able to create and sell it with Orion?

A3:Sorry, missed Q3 again haha. Whle Orion is an aggregator vs an exchange, we do have our own internal DEX that fulfills orders. The same will be the case for our NFT marketplace, users will be able to list and sell NFTs directly on Orion Terminal

Twitter Q4

Which projects are your closest competitors? For example, do you accept Uniswap, Curve or Balancer as your competitors? How will you take to the next level?

A4: Well, we don’t like to view others as competitors, as we always say ‘we don’t compete, we complete’ 😉 however, as I touched on earlier there are a number of aggregators entering the space trying to bridge the CEX/DEX divide. As none provide decentralized access to both CEX and DEX, we’re the only decentralized gateway to the crypto market 🙂

Twitter Q5

Will there be a fee reduction trading non-pair ERC20 tokens? For example, would a swap of Eth > erc20 have cheaper fees on the Orion terminal than say Uniswap?

A5: Uniswap fees are .3%, while fees on Orion Terminal are 0.2%. So not only will you get better prices for your trades on Orion Terminal, the fees are cheaper too, yes




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