Orion Protocol AMA Recap

Orion Protocol AMA Recap

CryptoDiffer team

Hello, everyone!😁

We are glad to meet here 

CMO of Orion Protocol, Timothea Horwell

CMO of Orion Protocol, Timothea Horwell

Hi everyone! It’s a pleasure to be here 🙏

CryptoDiffer team

Q1: Can you introduce yourself to our community?

CMO of Orion Protocol, Timothea Horwell

Absolutely. I’m Timothea and I’m Chief Marketing Officer of Orion Protocol. Over the last decade I’ve worked with tech companies in the data, mobile, and fintech space – from building business strategies at a start-up incubator, through to founding and leading the research division as Head of Marketing and Research within Telefonica (one of the largest telecommunications companies globally).

I joined Orion Protocol last year when I met with some of the team and realized that what they were building had the potential to revolutionize trading – by creating a singular, decentralized portal to the entire crypto market.

In that time, I’ve been focused on driving revenue and growth sustainably through user acquisition, bridging the two worlds of crypto and traditional marketing. We’ve got SO much in store 

CryptoDiffer team

Q2: Can you briefly tell us what is Orion Protocol in 3-5 sentences?

CMO of Orion Protocol, Timothea Horwell

Built on the most advanced liquidity aggregator ever developed, Orion Protocol aggregates the liquidity, order books, and trading pairs of every CEX, DEX, and liquidity pool in the market into one decentralized platform.

Our flagship product is the first decentralized gateway to the entire crypto market: Orion Terminal (it’ll be live on December 15th, be sure to sign up for access here: orionprotocol.io/launch)

But what does this mean for traders?

Traders no longer need to waste time exchange-hopping: they can access the liquidity of the entire crypto market in one place, including thousands of trading pairs.

Traders no longer need to worry about finding the best price for their assets: by aggregating the order books of every exchange, Orion Terminal guarantees the best prices and some of the lowest fees possible, with almost zero spread and zero slippage (not to mention the arbitrage opportunities).

And critically, traders no longer need to risk their assets to access liquidity: traders simply connect their wallet and execute their order across any exchange, centralized or decentralized, without the need for any exchange accounts.

Bonus sentence if I may… 😅  ultimately, we’re building solutions that tackle issues of liquidity for the entire ecosystem to ensure the sustainability of the industry: for traders, blockchains, exchanges, and crypto projects.

CryptoDiffer team

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

CMO of Orion Protocol, Timothea Horwell

We’ve been incredibly busy since our TGE in July, with major listings, development milestones, and a lengthy list of partnerships.

Having hit every milestone on our 2020 roadmap to date, I’m excited to share our plans for 2021 – our roadmap is pretty vast! There’s a lot there, so I’ll break it down into our main areas of focus.

Following the successful testing of our Test Net and Private Main Net, the first phase of our Public Main Net will be live in just 8 days. Access to the first phase of the terminal will be prioritized based on share ranking through a referral scheme live now (orionprotocol.io/launch)

Our full, widespread launch will be available for everyone to use very early into Q1. User acquisition is a critical aspect of our go to market strategy, and a phased roll out allows us to build our user base – more users benefit everyone within the ecosystem (particularly passive stakers) in the long run.

Platform updates will be continually rolled out over the month following the phase one launch of Orion Terminal. At widespread launch, our internal staking program will be live, built on a network of brokers and stakers executing transactions on traders’ behalf and rewarded with a share of the transaction fee.

We’ll also be launching the first decentralized high-margin trading, while allowing users to further monetize their ORN through lending. Additional features to be added to the terminal though our partners include leveraged ETFs, derivatives, contract trading, NFTs, and staking of any digital asset type, with even more in the pipeline. 🚀

Finally, we’ll be launching a series of B2B solutions throughout the year, including Orion Price Oracle, Orion Wallet Swap SDK, Orion Collateral Optimization, Orion Enterprise Trade Widget, Orion DEX Kit, Orion Liquidity Boost Plugin, and Orion Liquidity Pool.

You can learn more about our roadmap here:  blog.orionprotocol.io/2021

CryptoDiffer team

Awesome, a lot of updates to come out!

Thank you for great answers!

I think it is time to start community questions round!

Cryptodiffer Community

Who will have access to the Orion terminal from the day of its launch? Is there a pre-registration system to be one of the first to enjoy the platform?

When using Orion, is it possible to trade with any type of crypto currency or it will be exclusively for tokens found in the Ethereum network?

CMO of Orion Protocol, Timothea Horwell

Access to the first phase of the terminal will be prioritized based on share ranking through a referral scheme. Anyone can sign up for a referral link at orionprotocol.io/launch. Every new sign-up via your link will increase your ranking, with priority access awarded to those with the highest ranking on 12/15. New users will gain access each week, and will be rolled out to wider groups over the month following launch of phase one. 

Absolutely, through aggregating the liquidity of every exchange in the market, Orion Terminal will provide access to thousands of trading pairs (not limited to ERC20 like most decentralized aggregators). We’ve built oBTC in order to facilitate seamless cross-chain trading on Orion Terminal, performed via proxy tokens issued on our master blockchains (Ethereum and Elrond) – these proxy tokens are pegged 1:1 to the native currencies and swapped to native tokens via token bridges via atomic swaps, in a trustless and decentralized way. The token bridge will include BTC, BCH, LTC, ETH, ETC, NEO, WAVES, etc.

Cryptodiffer Community

How does Orion Liquidity aggregator provide ownership and value to users? Does it mean I can be a stakeholder and can start generating passive income? 

Your website talked about a time-based reward system for LPs, to commence on November 16th. Has it commenced already? Can you tell us more about it and why you adopt the 80/20 rule for this program?

CMO of Orion Protocol, Timothea Horwell

Firstly, our entire ecosystem is built on a network of brokers and stakers underpinning our decentralized brokerage.  

Brokers are chosen to execute trades based on how much ORN, Orion’s native token, they stake in the Decentralized Brokerage. By staking ORN, brokers receive a portion of fees from each trade they execute. 

We added in a core element of ‘non-broker stakers’ to remove the typical barrier to entry (and monopolization) associated with staking programs. Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered back. Brokers are incentivized to offer attractive rates to Non-Broker Stakers to grow their stake, increasing their chance of being chosen to carry out trades, and therefore increasing rewards. 

orionprotocol.io/staking

Secondly, our liquidity mining program is currently live, with 150K ORN paid out per month. 

Pool rewards are calculated constantly by a smart contract and accrued rewards can be claimed at any time. Bonus pool rewards are proportional to the amount of time staked, and are paid out at the end of the reward period (30 days).

The current APR is 145%, with over $5 million staked.

staking.orionprotocol.io/

Cryptodiffer Community

Is KYC a requirement to use the features available on ORION PROTOCOL platform   ?

What is the long-term vision and mission of ORION PROTOCOL for its users  ?

CMO of Orion Protocol, Timothea Horwell

KYC isn’t a requirement to use Orion Terminal. Brokers with exchange accounts (or exchanges themselves, including BitMax, KuCoin, MXC, and Injective announced so far) conduct KYC on a trader’s behalf, allowing traders to trade across all major exchanges without the need to ever open an account again. You simply connect your wallet and execute your order, without ever giving up your assets.

Cryptodiffer Community

Hello @timotheahorwell, what differentiates the Orion project from its similar competitors?

security and privacy is very important for the project and its new terminal, can you tell us more about what security mechanisms we will have to operate on the new platform? @timotheahorwell

CMO of Orion Protocol, Timothea Horwell

Two good questions here! In terms of competitors in the space, we don’t believe any currently exist. With crypto having been described as “nothing more than a fight for liquidity”, I do believe the future lies in aggregation of the industry in its entirety in order for it to achieve sustainable growth and widespread adoption. CEX aggregators and DEX aggregators have grown in popularity, but no entity has transcended the two to aggregate the entire crypto market into one platform, until now.

As we aggregate the liquidity of every CEX, DEX, and swap pool in market, the growth and development of any new or existing exchange or aggregator will only further benefit the Orion ecosystem.

This is a mutually beneficial relationship, though: rather than taking users away from their exchanges, we’re providing a decentralized point of access to their liquidity, allowing users to trade across exchanges they don’t even have accounts with.

That’s why we don’t compete, we complete: providing the first decentralized gateway to the crypto market.

Cryptodiffer Community

What strategies has ORION PROTOCOL developed to have a non-inflationary supply? What are your solutions regarding inflation problems?

CMO of Orion Protocol, Timothea Horwell

Our ORN token is supply-capped, meaning no tokens will ever be generated beyond the TGE, while efforts are in place to strategically and frequently remove tokens from circulating supply.

Staking: Our staking mechanism DPoB encourages all parties to stake and remove their ORN tokens from the circulating supply in return for maximum results. Rewards generated are then compounded into their stake, further reducing circulating supply. Important to note is that rewards are never generated from inflationary methods, but via our 16 revenue streams.

Licensing fees: 100% of licensing fees generated from our stack of DeFi solutions will be used to buy ORN tokens off the market and permanently remove them from circulation.

Refunds: Every ORN token that is refunded (via our DYCO token sale) will be permanently removed from circulation.

https://www.orionprotocol.io/orn

Cryptodiffer Community

How can I participate in the liquidity mining Orion Protocol? What opportunities do long-term liquidity providers have?

Why did Orion Protocol choose Chainlink as oracle and not Band or DIA? How does DeFiner plan to prevent oracles from providing false information? How do you check the received data?

CMO of Orion Protocol, Timothea Horwell

We chose Chainlink as our oracle partner because they are market leaders in the space. Furthermore, each partnership (or rather, integration) of ours aims to be mutually beneficial.

This integration will see all of Chainlink’s oracles serve as a reference price for issuing loans and triggering on-chain liquidations in our Decentralized Brokerage by ensuring that all broker services are fully collateralized by ORN. We will be using and supporting a Chainlink-powered ORN/ETH price oracle, as well as integrating all price oracles available.

Meanwhile, upon the launch of our own price Oracle in Q2 (Orion Oracle enables the market-leading price oracle that is resilient to price manipulation due to price derivation from every order book in the market) we will provide Chainlink with data to bolster their price oracle services, making Orion Protocol’s trading data available to other DeFi dApps via the Chainlink Network.

The decentralized structure and real time price feeds from all CEX, DEX, and swap pools in the market will provide Chainlink with rich data to enhance their price oracles – adding reliability and accuracy to their ecosystem

blog.orionprotocol.io/chainlink

Cryptodiffer Community

Can you explain how Orion Protocol can most easily combine the benefits of a centralized and decentralized system?

How is Orion Protocol participating in the new Yeild farming trend? How do you see the future of Yeild farming for Orion Protocol?

CMO of Orion Protocol, Timothea Horwell

Put simply, we’re bridging the gap between the centralized and decentralized worlds of crypto: building on decentralized technologies in the most critical parts of the system like custody and final settlement, while pulling liquidity from the major players in market – centralized exchanges. Our goal is to provide the benefits of the crypto market in its entirety, in a completely decentralized way.

Cryptodiffer Community

How profitable is it now for small liquidity providers to participate in Liquidity Mining? How does Orion Protocol optimize gas commissions every time it stakes or bets on a prediction?

Could you tell us more about the latest updates to the Orion Protocol and the new partnerships that will lead you to success?

CMO of Orion Protocol, Timothea Horwell

No one partnership alone will lead to our success – it’s the collection and cooperation of many leading partners working towards a collective goal of the sustainability of DeFi that will. That’s why we’re focused on building out our ecosystem through mutually beneficial parterships that aren’t just for optics. Some of our most recent partnerships include:

 

Elrond (https://blog.orionprotocol.io/elrondpartnership): Orion Terminal to be the first DeFi project build on Elrond Main Net

Chainlink (https://blog.orionprotocol.io/chainlink): Fully collateralizing our decentralized brokerage, while we’ll provide price feeds to their Oracle 

Alliance Block (https://blog.orionprotocol.io/alliance-block): secure, compliant, non-custodial crypto trading to traditional finance entities

Kira Network (https://blog.orionprotocol.io/kirapartnership): decentralized staking of any asset on Orion Terminal (stable coins, fiat and NFTs)

Dexe Network (https://blog.orionprotocol.io/dexe): decentralized copying of the best traders’ strategies across Orion Terminal

Boson Protocol (https://blog.orionprotocol.io/bosonprotocol): cross-trade tokens for NFTs directly connected to the entire crypto market

MobiePay (https://blog.orionprotocol.io/mobiepay): allowing ORN to be spendable (online and offline) 500+ top retailers

Polkastarter (https://blog.orionprotocol.io/polkastarter): first Liquidity Boost Plugin client, providing bottomless liquidity to their DEX

Aleph.im (https://blog.orionprotocol.io/aleph.im): optimizing off-chain centralized order books to be trustless and decentralized

Certik (https://blog.orionprotocol.io/certikaudit): leading security firm Certik auditing Orion Terminal’s mainnet

Cryptodiffer Community

1. What can we expect with the partnership with Alliance Block and Orion? Are you going to implement traditional finance to your metwork?

🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀

2. How CTK audit ORN? Is it done in regular intervals? Why you selected CTK for this?

CMO of Orion Protocol, Timothea Horwell

In my opinion, Alliance Block is one of the most exciting partnerships (there are so many to choose from 😅) because it promises growth beyond the existing crypto space.

This expansion is critical for our sustainability as an industry. By solving the fragmentation of the industry through creating the first portal to access the entire crypto market, we’ve developed a protocol for bridging together crypto, traditional finance, and real-world assets.

Working with Alliance Block, we’ll provide the likes of private banks, wealth managers, and funds a singular, compliant, and non-custodial point of access to the crypto market – funneling new users and significant amounts of capital into the space.

Cryptodiffer Community

How will Orion overcome revenue and adoption issues, which is the most important aspect of the project success?

What kind of service that $orion Company provide in order to bring usecase in crypto world?

CMO of Orion Protocol, Timothea Horwell

We’ve paid close attention to our predecessors, and one of the main causes of failure is the lack of substantial revenue streams. That’s why we’re working tirelessly to develop new revenue streams all the time. We launched in July 2020 with four products and ten revenue streams. Since then, we’ve developed seven new products and six new revenue streams – each one live in 2021, with the ORN token at their core.

Cryptodiffer Community

Is OrionProtocol fully decentralized? How do you avoid being centralized futher?

CMO of Orion Protocol, Timothea Horwell

We are decentralized, and believe that decentralization is the future, but it’s impossible to ignore the dominance of centralized players in market – which is why we are decentralizing their liquidity.

However, I believe that a successful decentralized financial system won’t be measured by its ability to exist separately to centralized financial institutions, traditional or otherwise, but one that is able to act as an intermediary between the worlds consumers know and the immature world of DeFi. 

DeFi projects must come to terms with the reality that the path towards true decentralized finance will only occur through collaboration – not just with other DeFi projects, but with traditional entities that monopolize much of the market.

Only through bridging the gap between these worlds will we achieve real steps towards change to build a truly decentralized future of finance.

Cryptodiffer Community

What were the goals and vision that brought your team together? How did you focus on creating the Orion Protocol and are you satisfied with the work done during this time?

Currently, in which exchanges can we stake our $ORN tokens? Can we stake the $ORN token within the Orion Protocol platform?

CMO of Orion Protocol, Timothea Horwell

Regarding your second question, I’ll break this down into three parts: pre-staking, liquidity mining, and main net staking.

Pre-staking:

Through a multi-exchange pre-staking program, Orion Protocol’s ORN token can be staked on BitMax and KuCoin for staking rewards at a 20% est APR currently. 

> blog.orionprotocol.io/prestakingcampaign

Liquidity mining:

We recently launched a liquidity mining program on Uniswap, rewarding ORN LPs with up to 150,000 ORN per month. The current APR is 148%, with over $5 million staked (http://staking.orionprotocol.io/).

> orionprotocol.io/uniswapguide

Main net staking:

Live in Q1 will be our internal ORN staking program. Brokers are chosen to execute trades based on how much ORN they stake, and receive a portion of fees from each trade they execute. Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered from that transactional fee. Brokers are incentivized to offer attractive rates to Non-Broker Stakers to grow their stake, increasing their chance of being chosen. This is the first non-inflationary staking, as no new tokens are minted beyond the TGE, rewards are generated via Orion’s revenue streams.

Additionally, through Kira Network (https://blog.orionprotocol.io/kirapartnership), we’ll be adding staking of any digital asset to the platform next year.

> orionprotocol.io/staking

Cryptodiffer Community

How we can sign up for Orion Terminal’s Main Net? Could you please explain?

CMO of Orion Protocol, Timothea Horwell

I’ll end with this one! 

The first phase of Orion Terminal’s Main Net will be live on December 15th at 2pm UTC. 

Access to the terminal will be prioritized based on share ranking through a referral scheme:  (http://orionprotocol.io/launch)

1️⃣ Sign up to generate your referral link at orionprotocol.io/launch

2️⃣ Share your referral link across social media

3️⃣ Every new sign up through your referral link will increase your ranking

4️⃣ (http://blog.orionprotocol.io/) Access will be awarded to those with the highest ranking on December 15th

5️⃣ (http://blog.orionprotocol.io/) New users will be added each week

Access and platform updates will be continually rolled out over the month following the launch of Orion Terminal, with full public launch in early Q1.

Cryptodiffer Community

Why any trader should buy ORN when they’re trading on ORION?

CMO of Orion Protocol, Timothea Horwell

Actually, I’ll add this too… There are a number of benefits of holding ORN:

Discounted Trading: Orion Terminal users will be able to save up to 20% on standard trading fees by paying with ORN.

Advanced Features: Advanced features like arbitrage will be available for premium users based on their ORN holdings.

Priority Access: While the first product on our roadmap is Orion Terminal, we’ve got a lot more in the pipeline. Holding ORN will provide first access to Orion Margin Trading, Lending, and other products to come

Finally, Passive Income via Staking as I touched on earlier

CMO of Orion Protocol, Timothea Horwell

Thank you @makscryptodiffer! Really appreciate all of your time and questions today. As I didn’t manage to get through them all, feel free to join us over on @OrionProtocol where the team will be more than happy to help 🙂

Cryptodiffer TEAM

Thank you for your time! Thank you everyone who took part. Let’s finish the AMA!

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