How Orion Protocol makes trading easier

Peter Zoltan
| Editor:
April 2, 2024
10 min read

Orion, aims to revolutionize cryptocurrency trading by tackling a major pain point: fragmentation. The vast array of centralized and decentralized exchanges creates inefficiencies, high fees, and a disjointed trading experience. Orion seeks to solve this by aggregating liquidity from multiple exchanges into a single, decentralized platform. 

This means traders can access the best prices and deepest liquidity pools across numerous marketplaces directly from Orion's interface. Orion also boasts a suite of tools like advanced trading terminals and a portfolio management system, streamlining the entire trading process for cryptocurrency users.

The Development of Orion

Orion takes us back to 2018. Developed by Alexey Koloskov, a former CEO and chief architect of the Waves Dex, Orion was created with the goal of providing a smoother and more efficient trading experience. The idea was to bridge the gap between the centralized and decentralized worlds of crypto, facilitating trades across these ecosystems.

Alexey Koloskov, founder of Orion. Source: LinkedIn.

Since its inception, Orion has made significant strides in its development. It has successfully launched its Liquidity Aggregator and Decentralized Brokerage. Moreover, the team has plans to launch the Orion Terminal, which will provide a single access point to multiple exchanges, allowing users to trade crypto assets across these exchanges.

Features of Orion

Orion has several unique features that make it stand out in the crypto ecosystem. Its primary feature is its ability to aggregate liquidity from both centralized and decentralized exchanges. This enables users to trade their crypto assets at the most favorable rates by collecting liquidity from a myriad of supported exchanges within its API. As such, it allows for the maximization of crypto balances and enhances the overall trading experience.

Another key feature of Orion is the Orion Terminal. By aggregating liquidity from centralized and decentralized exchanges, this terminal provides a single point of access to cryptocurrency markets. This means users can trade on multiple exchanges without the need to hold multiple accounts, making the trading process more streamlined and efficient.

Furthermore, Orion offers a non-custodial platform. This means that while users conduct trades on various exchanges via the protocol, they still retain control of their own assets. This feature enhances the security and control users have over their crypto assets.

Lastly, Orion has its native ORN token which powers the protocol's services. These tokens facilitate transactions within the network and provide stakers with rewards and governance rights.

In summary, Orion offers a unique solution in the crypto trading landscape. With its liquidity aggregation, non-custodial platform, and native ORN tokens, it bridges the gap between centralized and decentralized trading, offering a more efficient and optimized trading experience. It truly is a promising development in the world of cryptocurrency trading.

Trading Across Centralized and Decentralized Exchanges

As a DeFi platform, it is a liquidity aggregator that offers the potential for improved trading experiences and maximized crypto balances. One of Orion's most notable features is its ability to aggregate liquidity from both centralized and decentralized exchanges. 

The Orion Terminal, a core feature of the protocol, provides a single point of access to cryptocurrency markets. This innovative feature allows users to trade on multiple exchanges without the need for multiple accounts.

Orion functions as a trading network that pools liquidity for crypto assets from various sources, including centralized crypto exchanges, decentralized exchanges, and swap pools. This comprehensive aggregation of liquidity sources ensures that users can always trade their crypto assets at the most favorable rates.

In essence, Orion blurs the lines between centralized and decentralized finance markets, making it possible for users to enjoy the benefits of both on a single platform. It extends beyond existing aggregators by incorporating features of exchanges, brokerages, and instant trading apps.

Advantages of Trading with Orion

There are several advantages to trading with Orion. By pooling liquidity from both centralized and decentralized exchanges, Orion enables users to maximize their trading experience and get the best possible rates for their trades.

In addition to this, Orion reduces the need for multiple trading accounts. With the Orion Terminal, users can access multiple exchanges through a single interface. This not only simplifies the trading process but also reduces the risks associated with managing multiple accounts and passwords.

Moreover, by aggregating orders from various exchanges, Orion can facilitate fast trades, ensuring that users can take advantage of market opportunities as they arise.

Finally, Orion helps to bridge the gap between centralized and decentralized finance by bringing together the best features of both. This means that users can enjoy the security and control of decentralized finance, along with the liquidity and efficiency of centralized finance, all in one place.

In conclusion, Orion offers a comprehensive trading solution that caters to the needs of both novice and experienced traders. By leveraging its unique features, users can optimize their trading strategy and potentially achieve greater success in the world of cryptocurrency trading.

Orion Token: ORN

The Orion's primary utility token, ORN, serves a crucial role within the ecosystem. This section will delve into the various uses of ORN and its value and market performance.

Uses of ORN

The Orion Token (ORN) is a versatile asset within the Orion ecosystem. It is used for staking, participating in trade executions, making payments, unlocking additional functionality on the trading terminal, and receiving discounts on transaction fees.

Furthermore, the token plays a vital role in brokerage within the Orion ecosystem, with 18 revenue streams generating network fees and operational profits in ORN.

Here are the key uses of ORN:

  • Staking: ORN holders can stake their tokens to earn rewards.
  • Trade Executions: The token is used to participate in trade executions within the Orion platform.
  • Payments: ORN serves as a medium of exchange for making payments within the ecosystem.
  • Unlock Additional Functionality: Holding ORN can unlock extra features on the Orion trading terminal.
  • Transaction Fee Discounts: Users can receive discounts on transaction fees by using ORN.

The maximum supply of ORN is capped at 100,000,000, ensuring a controlled circulation of the token within the ecosystem.

Value and Market Performance of ORN

The ORN coin, the native utility token of the Orion platform, launched in July 2020 at a price of $0.71. It reached an all-time high of $29 in March 2021 and has since lost over 90% of its value. However, over the past year, ORN has posted some decent gains, rallying by over 150% to well over $2 with a market capitalization that exceeds $82 million.

ORN has posted impressive gains in early 2024 despite crashing during the 2022 bear market. Source: CoinGecko

Orion's Unique Features

Orion's unique offering in the crypto trading space is marked by its integration of the features of exchanges, brokerages, and instant trading apps, all in one platform. This all-encompassing approach enhances users' trading experiences and opportunities by providing access to a broader pool of liquidity from both centralized exchanges (CEXs) and decentralized exchanges (DExs). In this section, we will delve into two of Orion's key features: the Orion Terminal and the Orion Liquidity Boost Plugin.

Orion Terminal

The Orion Terminal is a flagship feature of the Orion, offering one of the most user-friendly trading experiences in the market. It aggregates liquidity and orders from various CEXs and DExs to facilitate fast and efficient trades. This eliminates the need for traders to maintain multiple trading accounts on various exchanges, a common pain point identified in a survey among traders.

The Orion Terminal addresses several issues often associated with current exchanges, such as high fees and difficulty in finding the best trading rates. By providing a one-stop platform for trading cryptocurrency assets, Orion Terminal simplifies the process and reduces the barriers to entry for newcomers in the crypto trading space.

Most recently, Orion announced the launch of its Orion Bridge V2, further extending the platform's capabilities. This solution enables the use of Orion’s decentralized applications (DApps) on multiple exchanges, further enhancing the versatility and convenience of the Orion Terminal.

Orion Liquidity Boost Plugin

The Orion Liquidity Boost Plugin is another innovative feature that sets Orion apart from its competitors. This tool allows exchanges, crypto projects, and trading platforms to tap into Orion's liquidity pool.

By integrating with Orion's Liquidity Boost Plugin, partners can offer their users a more extensive range of trading pairs, better prices, and increased liquidity, enhancing their competitive edge in the market. This plugin not only benefits Orion's partners but also contributes to the overall liquidity and efficiency of the crypto trading ecosystem.

In summary, Orion's unique features, such as the Orion Terminal and Orion Liquidity Boost Plugin, provide an enhanced trading experience by addressing common pain points in the crypto trading space. These tools, coupled with Orion's focus on user-friendly design and broad liquidity access, make it a promising platform for both novice and experienced crypto traders.

Orion's Ecosystem

The Orion's ecosystem is vast and dynamic, comprised of numerous partnerships and collaborations that enhance its reach, utility, and performance. Additionally, the platform is constantly evolving, introducing new features and developments to improve the user experience and offer more robust trading opportunities.

Partnerships and Collaborations

Orion has fostered strategic partnerships to amplify its mission of providing a DeFi marketplace with the liquidity and performance of a centralized exchange. The partnerships extend Orion's reach and aid in integrating its unique features into various platforms, further enhancing its utility.

Orion has partnered with Elrond, a high-speed blockchain platform, to integrate its Liquidity Boost Plugin. This collaboration enhances the trading experience for users, providing them with access to a broader pool of liquidity.

Another notable collaboration is with Nakamoto Games, an innovative play-to-earn gaming ecosystem. Nakamoto Games has integrated the Orion swap widget into its platform, allowing users to swap tokens directly within the gaming ecosystem and expanding Orion's use-case and reach.

These partnerships work in synergy with Orion's vision of aggregating liquidity and orders from both centralized exchanges (CEXs) and decentralized exchanges (DExs). This allows users to trade their crypto assets at the most favorable rates by collecting liquidity from a wide range of supported exchanges.

Future Developments and Updates

Constantly evolving, Orion continually works towards enhancing accessibility and convenience for its users. A significant development is the recent announcement of the Orion Bridge V2. This upgrade enables the use of Orion's DApps on multiple exchanges, making it more accessible to a wider audience.

Orion extends beyond existing aggregators by bringing together the best features of exchanges, brokerages, and instant trading apps, all on one platform. This one-stop solution addresses the issue of varying return rates and trading fees across different cryptocurrency exchanges, ensuring users can maximize their crypto balances and trading opportunities. 

Using Orion

As you venture into the world of Orion, understanding the process of getting started and the safety measures in place is crucial. This comprehensive guide provides the necessary information needed to navigate the Orion trading ecosystem effectively.

How to Get Started

Orion offers one of the most user-friendly trading experiences in the market, making it an attractive option for those interested in trading cryptocurrency assets. The platform caters to both novice and advanced retail traders as well as institutional investors. It is integrated into a traditional exchange interface and supports the most fiat currencies on the market, offering savings, convenience, and security on a single platform.

To get started with Orion, follow these steps:

  1. Visit the Orion website and create an account.
  2. Secure your account by setting up two-factor authentication.
  3. Deposit your chosen cryptocurrency or fiat currency into your account.
  4. Navigate to the trading interface and select the cryptocurrency pair you wish to trade.
  5. Place your order and wait for it to be filled.
  6. Once your trade is completed, your new cryptocurrency will be available in your Orion wallet.

Final Thoughts on Orion

Orion presents an ambitious vision for streamlining cryptocurrency trading. By aggregating liquidity from various exchanges, it aims to offer users a single, user-friendly platform for accessing the best prices and deepest liquidity pools across the market. While Orion remains under development, its potential impact on simplifying and improving the trading experience for cryptocurrency users is significant. It's essential to approach the Orion with caution and thorough research, like any other cryptocurrency project. 

Disclaimer: The information provided in this blog is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile; always conduct thorough research and invest at your own risk.

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