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Where next for ORCA Rewards?

As we migrate more of our pools to Whirlpools and greater capital-efficiency, ORCA rewards will now be ~125K ORCA per week.

We recently provided an update on the Orca Treasury to give the Orca community a detailed view into all things related to the ORCA token, Treasury, and Impact Fund. Now it’s time to provide insight into the progress of Orca’s Aquafarm rewards program and our upcoming reduction in total ORCA rewards — while maintaining our goal of providing the best experience for traders and LPs.

🌊 Looking back at the launch of the ORCA token and Aquafarms in August 2021, initial liquidity mining rewards were set at a rate of 200,000 ORCA per week in our tokenomics. This amount was suitable to achieve the original goals of the program:

  • Distribute ownership of the protocol to users and the community, and
  • Incentivize liquidity across several strategic token pairs (e.g., SOL-USDC, ORCA-USDC, and others)

Since then, we’ve made significant progress across the primary elements of protocol building: bootstrapping users and functionality, distributing ownership, and building a trusted brand. We’re also well on our way to establishing Orca as the leading DEX on Solana and have over 40,000 ORCA tokenholders.

🌀 The early traction of Whirlpools has been very promising. Whirlpools clearly demonstrate that significantly less rewards are required to produce the same results.

With that, we have two significant announcements:

  1. We will move towards zero ORCA rewards on standard pools over the next two rotations (though we are always evaluating market conditions)
  2. We will strive towards having the minimum amount of rewards necessary to ensure that users continue having a good experience

What does this look like in practice?

  • ORCA rewards across all pools will be approximately 125,000 ORCA per week. Notably, ORCA rewards on standard ORCA pools (e.g., ORCA-SOL and ORCA-USDC) will conclude by May 19th.
  • Our expectation is to launch a significant number of new Whirlpools and a rapid migration of Double-Dip (and new Triple-Dip!) pools to Whirlpools
  • The Orca Treasury and rewards should increasingly be governed by the community. Any Orca podmate is welcome to comment or start a discussion on our Orca DAO forums!

Keep an eye out for our Whirlpools Rotation #2 post tomorrow detailing nine new Whirlpools and our very first triple-reward pools! We’ll introduce several UST pools with LUNA rewards, additional mSOL and stSOL pairs, and lastly welcome SAMO to the Whirlpool family! And if you haven’t given concentrated liquidity a whirl, dive in at orca.so/whirlpools or read our freshly published Whirlpools FAQ. 🐳

Disclaimer: Communications from Orca are intended solely for informational purposes, and should not be construed as investment or trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any digital assets mentioned. All figures are estimated and unaudited unless otherwise noted. Past performance is not necessarily indicative of future results. Transactions on the blockchain are speculative. Carefully consider and accept all risks, including risk of loss of all funds and extreme volatility of token prices and liquidity, before taking any action. As a technology company, Orca provides access to software.

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Orca is the easiest, fastest, and most user-friendly AMM and aggregator on Solana. As a team with deep knowledge of both crypto and human-centered design, we’re on a mission to create the best experiences in DeFi.

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