Orion Protocol

Review: Orion Protocol ($ORN)

4

The Orion Protocol has plotted out several strategies to move the network higher, which is one of the impressive things to note. For example, Orion Protocol's bridge has always been a unique prospect, and the protocol is currently intending to build the bridge so that it can onboard any blockchain network in the future without any delays or problems. Other objectives include the release of subsequent versions of the liquidity boost plugin with more sophisticated but useful functionalities. Orion Protocol is also expecting some high-profile crypto investors and investment firms. With all of these plans, both those that have already been accomplished and those that are now in the works, it's clear that the protocol is on track to expand and incorporate additional features and functions.

Pros
  • The Orion Protocol is one of the protocols with the lowest costs and best digital asset pricing.
  • The Decentralized Brokerage in Orion eliminates the need to create and finance numerous exchange accounts.
  • Orion's atomic-swaps technology enables cross-chain trading across different blockchains.
  • It is cross-chain compatible and allows Defi users to earn money by staking.
  • The system is decentralized and non-custodial, allowing users to handle their funds without the worry of being hacked.
  • Real-time trading signals, arbitrage, news, and market research tools are among the instruments available.
  • It uses aggregated order books that other Orion-based exchanges may access.
Cons
  • The requirement to purchase ORN, the Orion primary token, Though this is apparent in most Defi Protocols, the requirement of the primary token for all protocol transactions has been causing user dissatisfaction with the token fee and other aspects for some time.
  • Poor Customer Support: As a decentralized protocol, we can't expect Orion Protocol to provide customer support, but the fact that many users have lost money due to botched transactions and complicated swaps has been a problem.

Business Score: 4/5

Branding

In its early phases, Orion Protocol actively branded and aggressively pushed its unique features and user accessibility. The branding also includes the community and investor strength that Orion Protocol possesses, as well as how it has performed over time. However, like with any protocol, the amount of aggressive marketing and community-driven shilling has decreased over time. Orion Protocol’s current branding has been based on collaborations and word-of-mouth generated by the investments and money it has received from large corporations.

Team

The Orion Protocol team is strong, with several experienced backers and partners. Orion Protocol also intends to collaborate with potential prospects, positioning it as one of the best defi protocols available. Alexey Koloskov is the CEO in charge of the Orion Protocol’s front-end and back-end development. He previously worked with Waves and was a member of the team that developed the DEX. The Chief Marketing Officer is Timothea Horwell, who is an experienced research and marketing professional. The Chief Strategy Officer is Yanush Ali. He was also a founding partner of Next Block Group. The lead backend developer is Nail Fakhrutdinov. Orion Protocol also aims to aggressively recruit employees who can fit right into the technical side of things and the management side.

Road Map

The Orion Protocol has plotted out several strategies to move the network higher, which is one of the impressive things to note. For example, Orion Protocol’s bridge has always been a unique prospect, and the protocol is currently intending to build the bridge so that it can onboard any blockchain network in the future without any delays or problems. Other objectives include the release of subsequent versions of the liquidity boost plugin with more sophisticated but useful functionalities. Orion Protocol is also expecting some high-profile crypto investors and investment firms. With all of these plans, both those that have already been accomplished and those that are now in the works, it’s clear that the protocol is on track to expand and incorporate additional features and functions.

Technical 4.1/5

Product

Orion Protocol has been steadily enhancing its features and user accessibility over time. The Orion Protocol was designed to be a simple-to-use protocol rather than the most advanced protocol. The features listed below contribute to Orion’s focus on user accessibility and easy-to-use methodologies.

Exchange Liquidity Booster Plugin

Orion offers all centralized and decentralized platforms a plugin that adds to Orion’s aggregated liquidity. It allows market makers to trade at a fair cost. Brokers store funds in exchanges while also executing orders on behalf of consumers and are liquidity providers in the Orion shared liquidity pool. To join the liquidity pool, they must stake a certain quantity of ORN tokens. The cost of executing orders is directly proportional to the amount of ORN possessed. It also aids low-volume exchanges. These platforms can use Orion’s aggregated order books to combine quick liquidity for their exchange.

Orion Trading Terminal

The Orion trading terminal makes it simple for customers to complete their trading operations using its universal API. There are no extra requirements for traders and investors on the site, such as KYC. The terminal supports Binance and Ethereum trading. KuCoin, AscendEx, and other well-known exchanges are also accessible through the interface. With only one call, you may participate in cross-chain trade orders and automatically execute transactions using the best available pricing. All a user has to do is connect his wallet and fund the smart contract.

The ORN Token

Because the whole Orion Protocol works on the ORN token, it’s only natural to start there. When utilizing the Orion Terminal, consumers can save money by paying using ORN.ORN holders will also have access to premium services in the Orion ecosystem, such as margin trading and sophisticated order types. ORN has a finite quantity, and no additional tokens will be issued after the Token Generation Event (TGE). In actuality, the circulating quantity of ORN will decrease over time since any tokens refunded by DYCO participants will be destroyed, and the license fees earned by Orion Protocol will be used to acquire and burn ORN tokens. In addition, the token fuels Orion’s enterprise solutions’ liquidity aggregator.

Application for Portfolio Management

Orion makes it easier for users to examine various accounts on different exchanges by combining all the necessary data into one interface. Because the app has a non-custodial portfolio management capability, users do not have to give up custody of their assets. Users may utilize Orion’s portfolio management tool to track and maintain their activity across exchanges, create arbitrage warnings, and automate asset management activities, among other things.

Crypto-Related

Orion combats excessive costs with its own staking technique, Delegated Proof of Brokerage (or DPoB). Orion allows brokers to trade on exchanges with high-volume trading accounts and pay lower costs than regular traders. It also allows them to trade at high volume rates without having to be a high-volume trader. The Orion Protocol has devised a Delegated Proof of Broker staking paradigm that comprises two primary parties: brokers and non-broker stakes. Non-broker stakers can delegate ORN tokens to their preferred brokers to take advantage of the brokers’ dynamic revenue sharing, while brokers can enhance their chances of being chosen to process transactions by staking more ORN tokens. Staking in the Orion Protocol does not cause inflation because no new ORN tokens are created to pay stakers incentives.

Security

Orion Terminal’s fundamental approach to decentralization puts it light years ahead of restricted and account-driven “aggregators” and typically centralized exchanges. Your money, your possessions. Orion provides the user with a one-of-a-kind chance for profound and unprecedented liquidity aggregation.

Users may use their own wallets to access the massive liquidity of centralized exchanges like Binance, KuCoin, and AscendEX, as well as decentralized exchanges and swap pools, all from one platform. CertiK routinely examines the network, which is one of the amazing aspects of Orion’s security. Through frequent penetration and security assessments, this blockchain-security firm guarantees that the network is always operational, maintains its integrity, and is properly optimized. Many cryptocurrency exchanges provide wallet services to investors who want to keep their tokens on the platform. However, one issue with these on-exchange wallets is that they are vulnerable to hacking. As a result, most crypto experts advise utilizing a hardware wallet instead. It is reasonable to state that Orion is safe since it allows consumers to govern their assets. Furthermore, any hacker who gains access to the network will be unable to access users’ cash because it is not stored on the platform. The open-source software brokers employ the Orion Protocol code and the smart contracts are also regularly audited aspects of the Orion network. The Orion Terminal stays stable despite all of these audits and examinations. Another thing to keep in mind is that the Orion Protocol is a non-custodial solution that lacks asset storage capabilities. Users of Orion have complete control over their assets. They have control over their wallets, passwords, and keys. There is no central authority in charge of the tokens, keys, or passwords.

*Disclaimer* The project’s reviews are not financial advice. You are risking your own funds and you should do your own research on each individual investment. We only search for strong projects and are not looking for a get rich quick scheme.

*The review contains referral links and is based on our internal guide that you can read here: Internal Review Guide*

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