What is Orion Protocol?
The Orion Protocol token or ORN is a utility token of the Orion Protocol. The latter is a decentralized finance platform with a focus on aggregating the liquidity of the cryptocurrency market.
ORN is an ERC-20 token that has more than one use case. It’s necessary for staking. ORN tokens can be staked in Decentralized Brokerage or Non-Broker Staking (NBS) pools. Orion Protocol operates using a unique Proof-of-Brokerage staking mechanism.
Premium services on the Orion platform are only accessible to ORN token holders.
Furthermore, ORN holders benefit from exclusive discounts on transaction fees. This means that users will pay less in transaction fees when using the ORN token.
There is a max cap of 100,000,000 ORN tokens. They have been distributed as follows:
- 45% - Token Sale;
- 24% - Orion Foundation;
- 13% - Marketing;
- 12% - Core Team;
- 6% - Advisors & Partners.
You can have a more in-depth look at the ORN price history or the current Orion Protocol price on the graph above.
What are the Main Features of Orion Protocol?
As discussed in the What is Orion Protocol section, Orion Protocol is a DeFi project developed on a liquidity aggregator.
It’s a layer 2 solution that aggregates liquidity from all possible sources including decentralized exchanges (DEXs), centralized exchange (CEXs), and swap pools. This way it’s able to provide a one-stop solution
Or, in the words of Orion Protocol itself, a "decentralized gateway to the digital asset market".
To put it simply, the Orion platform is a one-stop shop that showcases on-offer liquidity from multiple exchanges.
One of the primary goals of the project is to create an environment for the best possible returns, and, by extension, minimize the risk of investing with multiple exchanges.
There is a myriad of products and services available in the Orion ecosystem including Orion Terminal, Orion Bridge, and Orion SolarFlar, among many others.
It also provides portfolio management tools as well as a dApp marketplace (App Store).
Who Developed Orion Protocol?
The Orion Protocol crypto project was launched in 2020. Its sole founder is Alexey Koloskov - a tech entrepreneur with a background in IT. He holds a master’s degree from the Lomonosov Moscow State University.
Prior to the launch of Orion Protocol, Koloskov was a Chief Engineer at Sberbank-Technology and later moved on to become a Lead IT Manager at UniCredit Bank Russia.
Alexey Koloskov contributed to the development of the Waves Platform. It’s the first blockchain project he worked with.
Currently, Koloskov serves as the CEO of Orion Protocol. The rest of the core team includes the COO, Kal Ali, CSO, Yanush Ali, and CMO, Andrew Kirk. Orion’s development team is headed by Eduardo Moreira who is joined by Nail Fakhrutdinov and Eduard Zaydel.
Orion Protocol has managed to partner up with major players in the crypto industry such as Chainlink, Nord Finance, Polkastarter, DAO Maker, and many others.
Don't forget to check the ORN price on the graph above if you're considering purchasing this cryptocurrency.
