Recap of the live AMA with Team Orion Protocol
Alex Koloskov-Orion Protocol
Hi Moonwalkers! I’m Alexey Koloskov, CEO of Orion Protocol. I’m glad to be here in your great community. We’ll update you with the latest news about our project and the current token sale running on an innovative the Dynamic Coin Offering(DYCO) framework giving unique opportunities and benefits to their participants. Waiting for interesting questions 🙂
🚀🚀🚀🚀🚀🚀🚀🚀
tehMoonwalkeR-
so let us start, maybe you can introduce Orion protocol, I would like to know what the project is about and what has been achieved so far
Alex Koloskov-Orion Protocol
In short: Orion aggregates the liquidity of the entire crypto market into one decentralized platform providing Defi with the most need industry-critical solutions from Orion
Terminal to Orion Enterprise solutions for blockchains, 3d party exchanges including DEXs, and crypto projects. So almost all applications requiring trading and exchange functionality can benefit from Orion by always getting the best possible prices, low fees, and immense liquidity on the market.
Here is our site: https://orionprotocol.io/
Also please join our TG group: https://t.me/orionprotocol
Hatu-Orion Protocol
Hey guys, there are 2 key introductions I want to make.
First, Orion Protocol itself.
Second, the Dynamic Coin Offering.
Orion Protocol
A liquidity aggregator that pulls in the trade pairs (coins), depth, and liquidity of every CEX, DEX, and swap pool into 1 decentralized platform.
What does this mean?
- you get a terminal which you can tap into with your private wallet, like MetaMask, and trade any coin at its best market price.
Secure. Convenient. Lowest price from all markets.
- Oracle with all-market pricing built-in, sourced from all the brokers that operate on the Protocol (yep, even you can become one — but the first brokers are large exchanges themselves or some major market-making firms)
- aggregated lending
- Tie is the deep liquidity of the terminal and that of aggregated lending and finally… high-margin decentralized trading becomes possible.
You can reference the full details of the technology and the products here:
https://daomaker.com/dyco/orion
tehMoonwalkeR
very interesting, im wondering since you hold ur own keys in the terminal, how exactly do the coins get from the exchanges to my wallet?` and how is it made sure that there is no point of weakness to an attack?
Alex Koloskov-Orion Protocol
There can’t be any sort of attacks because trading is performed in a completely non-custodial decentralized way. Orders are executed via a decentralized pool of brokers.
Brokers never get access to traders’ accounts or funds as the terminal is governed by smart contracts to enforce secure conditions of the token exchange. Only if the order is filled by a selected broker will the transfer of assets occur atomically within the smart contract: the trader gives the sold asset in exchange for the bought asset. The exact amounts of exchanged assets are strongly enforced by the conditions specified in the order and cannot be altered by the broker.
tehMoonwalkeR
very impressive
you have achieved quite a lot already pre dyco, how are u funded so far
how many funds will you need to operate for a few years, and how soon do you expect revenue flow?
Alex Koloskov-Orion Protocol
We expect to start generating revenue as soon as we launch MainNet which is scheduled for Q3 this year. 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’ve identified and are working on several products that will generate revenue in the near future. We’re bringing in thirteen B2B and B2C revenue streams from day one, across our entire platform, ensuring sustainability as a business.
Hatu-Orion Protocol
The second thing I want to discuss is the DYCO.
Dynamic Coin Offering.
Orion is the first DYCO ever.
The key focus of the DYCO is to make sure that early supporters are privileged in comparison to exchange buyers.
The DYCO offers refundable tokens.
- 100% of supply is refundable
- every refunded token is burned
The refunds are 80% of the sale value. This is on par with the most common stop-loss (20%). While this gives early supporters the same stop loss advantage available to exchange buying, early supporters are given a host of privileges.
- 20% bonus (do the math… 80% refund + 20% bonus tokens)
- lifetime advantage in staking (25% extra rewards)
And the mere fact of being an early supporter carries value. It becomes an NFT that is tradeable and carries that 25% staking reward with it; having an address that was an early supporter becomes valuable in itself.
tehMoonwalkeR
13? that’s absurdly offensive :D
can you tell us about the ORN token, the benefit for holders, and staking?
Alex Koloskov-Orion Protocol
DYCO put some restrictions on our expenses because every ORN token sold has to be backed by USDT(USDC). But it’s also quite positive things because it makes us lean. We’ve been developing our project for over 2 years already, with the first year (and more) being funded entirely by the team itself! So we care about this work and are confident in it!
Orion has worked to ensure the longevity of the supply-capped ORN token through a number of methods:
- Unrivaled token utility
- Non-inflationary staking
- Diminishing supply
- Strong holder benefits
- Refund opportunities
- Thirteen revenue streams
Learn more here: https://blog.orionprotocol.io/tokeneconomy
tehMoonwalkeR
wow, this is the opposite of 2017
in 2017 teams collected and then didn’t deliver
now teams deliver before they collect..
Hatu-Orion Protocol
On top of that, the DYCO creates a price floor.
The only tokens in circulation are the ones that are sold. Hence, every token in circulation is money-backed and refundable.
However, only DYCO participants (early supporters) can claim refunds. They can sell the tokens… buy them back, and still, the token is refundable because the token carries rights to refunds.
- since refunded tokens are burned, in a DYCO, early supporters also have the power to reduce project supply and valuation — this is first-time holders are granted this power
- since all tokens are refundable, any opportunity to buy the token on exchanges below price floor grants the ability to make an easy arbitrage
If the market price ever goes to, say, 0.5x, you can simply refund it at 0.8x (the backed value) for a 60% upside.
This means that even if a token goes down, there’s room for arbitrage. This enforces the price floor.
tehMoonwalkeR,
“- Non-inflationary staking “
so the staking rewards will come from pure revenue and not from inflation?
any ROI estimates?
Hatu-Orion Protocol
This is a projections piece
It offers, for each volume level, insight into:
- projected burn amount
- staking rewards
- consumption for fee discounts
- locks for brokers
(for reference, 1inch has 7.4M average daily volume, and it only aggregates DEX)
Hatu-Orion Protocol
Comparison with 1inch, a DEXX aggregator
vs Orion, an all-market aggregator
Alex Koloskov-Orion Protocol
You can also read more about our bootstrap story on our blog: https://blog.orionprotocol.io/bootstrap
tehMoonwalkeR,
I see a lot of the revenue will come from other exchanges and dexes, why would they pay for Orion’s services, what’s in it for them?
Alex Koloskov-Orion Protocol
The biggest challenge for new exchanges is getting liquidity from day one. Now they cannot bother anymore about this via taping into Orion liquidity aggreagated from the entire crypto market: from every centralized exchange, decentralized exchange, and swapping pool. In addition to small licensing fee all these 3d party projects increase trading volume that goes through Orion platform genreating rewards to Orion brokers as well.
Hatu-Orion Protocol
One of the primary take-away on this is that Orion is a protocol.
The terminal is one product.
As explained in my first message, the protocol aggregates liquidity, depth, trade pairs from across every CEX, DEX, and swap pool.
That enables a swath of products. (Full detail: https://daomaker.com/dyco/orion)
And each of these expands the token economy.
Membrana Ninja ❤️ $ORN (mkzcore)
how does the orion liquidity boost plugin work?
Alex Koloskov-Orion Protocol
Having low volume will doom an exchange from day one, regardless of the cost, development hours, and business development that went into building it. We enable unmatched liquidity and volume to exchange immediately, from the largest centralized and decentralized exchanges in the world. You can learn more here: https://www.orionprotocol.io/liquidityboostplugin
Having low volume will doom an exchange from day one, regardless of the cost, development hours, and business development that went into building it. We enable unmatched liquidity and volume to exchange immediately, from the largest centralized and decentralized exchanges in the world. You can learn more here: https://www.orionprotocol.io/liquidityboostplugin
Also, please take a look at the Orion Liquidity plugin workflow:
tehMoonwalkeR
“- lifetime advantage in staking (25% extra rewards)”
I understand this correctly? DYCO investors receive LIFETIME extra +25% on staking rewards?
Hatu-Orion Protocol
Yep, explained here:
https://medium.com/daomaker/dyco-private-sale-privileges-explained-d4c051131606
“Normal staking
The tokens held by DYCO buyer (Holder A) and exchange buyer (Holder B) are given equal weight in reward calculation. In our example, as each of them has 1 token and the reward is $10,000, the reward is evenly split.
Each holder receives (1/2) * $10,000
Holder A: $5,000
Holder B: $5,000"
“
DYCO staking
The tokens held by DYCO buyer (Holder A) are given a privileged weight in reward calculation. Each token held by Holder A is considered as 1.25 tokens (25%), while each token held by an exchange buyer (Holder B) is considered as 1 token.
DYCO buyer receives (1.25/2.25) * $10,000
Exchange buyer receives (1/2.25) * $10,000
Holder A: $5,555.6
Holder B: $4,444.4"
tehMoonwalkeR
that’s a brilliant incentive, how will the platform know what the dyco token is and what the regular tokens are?
Hatu-Orion Protocol
It’s not based on token but address
You qualify for the privilege if you have a whitelisted address by participating in the DYCO
$OUL Man
Is the wallet linked to my Orion account developed by Orion? If so, how do new protocols get added as coins come out with their mainnet tokens?
Alex Koloskov-Orion Protocol
We’re going to develop our wallet but right now our Orion Trading Terminal works with MetaMask, Formatic, Coinbase Wallet, and even more to come.
You can already try our Orbit TestNet here: https://blog.orionprotocol.io/testnet
Please apply!
[MBN Squad] Membrana Ninja ❤️ $ORN (mkzcore)
XBASE should collab with orion. now. 😍
Alex Koloskov-Orion Protocol
Sure, we are open for collaboration and partnership. Read more about our partners here: https://www.orionprotocol.io/partners
tehMoonwalkeR
it all sounds kinda abstract, is the liquidity sharing similar to mobile phone providers who simply “rent out” a part of the network?
Alex Koloskov-Orion Protocol
Yes, it’s quite good analogy 😁 Essentially, any users have exchnange accounts can become broker and receive rewards by executing orders on traders’ behalf. Everything they nead is buy and stake a minumun number of $ORN tokens and run simple orion-broker software.
Alos other tier-1 exchanges can be come brokers, look at our recent partnership with Bitmax.
BitMax joins Orion’s latest DeFi initiative to monetize exchange liquidity through staking
In short Orion is decentralizing centralized liquidity.
vizuaLz
So if i participate in the DYCO, my whitelist address can refund any ORN i bought for life time??
Hatu-Orion Protocol
Up till 16 months, not forever
You can refund the ones you bought + other tokens
If you manage to buy cheaper tokens on the market, you can refund those for an arbitrage.
All tokens sold in a DYCO are refundable. When some one sells you a token ,they also pass its refund rights. That means when you buy another token, it came from another DYCO participant and you have the right to its refund.
Alex Koloskov-Orion Protocol
We are very close to reaching our hardcap in private sale round.
Nyepi
That’s great news 😁 we are excited for public sale
Alex Koloskov-Orion Protocol
Public sale is going to have VERY VERY small cap if any 😁
Hatu-Orion Protocol
Private is almost full, if demand continues to increase, we might move public to private too. It statistically would enable a more advantagous listing.
But the private qualification is quite low, at $5k.
Blaze
Have you gone over your hard cap private sale allocation then as surely there would have been a public sale allocation set beforehand?
Alex Koloskov-Orion Protocol
Actuall we have combined hardcap of $3.45M for both private and public rounds. More here: https://www.orionprotocol.io/orn
Hatu-Orion Protocol
A key follow-up on this.
While the cap is $3.45M, the entire sold supply is refundable.
So every sold token can be refunded, so in theory circulation can even hit 0 — if buyers deem so. They control the burns of these tokens.
Blaze
Just getting in, does every exchange have to sign up as a broker like Bitmax to be featured on your terminal for trading?
Timothea Horwell-Orion Protocol
While we do have a number of exchanges as partners, we don’t need partnerships with exchanges in order to access their liquidity — we’re doing so through APIs. It’s impossible to prohibit our use of the APIs — with anyone being able to be a broker, it’s impossible for exchanges to know which of its traders are giving the API access to the terminal. The decentralized nature of our brokers make it impossible for exchanges to shut down our access to their APIs.
It’s mutually beneficial, though: rather than taking users away from their exchanges, we’re providing another point of access to their liquidity, allowing users to trade across exchanges they don’t even have accounts with.
tehMoonwalkeR
what role will the community play with orion? any unique plans for this?
Hatu-Orion Protocol
The early supporters are being granted a lot of privileges in the long-term scope of the project.
With that said, the second phase of the terminal is open access. Anyone who makes a stake of ORN can participate in the liquidity provision.
Realistically, the large market-makers who are signed on right now may not want to tap into ultra-low cap coins or very illiquid exchanges. Anyone from the community could tap into this.
Furthermore, an eventual aspect of the roadmap is to enable fiat provision. Community could be a critical part of enabling that on a p2p basis. The whole functionality of the Protocol is user-driven as Orion itself is not the centralized broker.
Nyepi
So even a simple trader can be a broker ? Or there’s some requirements?
Alex Koloskov-Orion Protocol
Exactly! Our protocol is governed by the unique staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralized brokerage with the ORN token at its core. It’s similar to PoS where the more tokens a broker stakes the more frequently it will be chosen for order execution and thus the more trading fee it receives as reward.
There are more announcements comming where other exchanges, funds and big market makers are joingin Orion Broker Pool. Stay tuned. But our mission is to make this brokerage realy decentralized so even users with small stake can become brokers. The current requirements is $10k worth of $ORN tokens to become a broker and later this minimum will be lowered significantly as our DPoB matures.
Timothea Horwell-Orion Protocol
A few things are needed to become a broker:
- Multiple exchange accounts
- Assets within these exchange accounts
- Min amount (tbc) of ORN staked in the decentralized brokerage
However, we wanted the system to be democratic and non-monopolized — we’re aware that a minumum amount of ORN staked could still be a barrier to entry for some. So, we’ve integrated Non-Broker Stakers into the mechanism to allow stakers to enjoy rewards without the requirements necessary to be a broker.
Non-Broker Stakers can stake ORN tokens to ‘vote’ for their choice of Broker, choosing Brokers by the variable reward share they offer (Brokers are incentivised to offer attractive rates in order to grow their stake and increase their chance of being chosen)
zcoinhuntr
If Orion aggregates large liquidity volume across the whole crypto market ie CEX and DEX will it not be dangerous IN terms of security should Orion be compromised?
Hatu-Orion Protocol
Further, it’s non-custodial.
None of your assets are ever at risk. You will use your personal wallets, like MetaMask, to tap into at the time of the trade.
tehMoonwalkeR
i dont even see any competition for this atm, since orion wont be an exchange but a decentral liquidity provider, its gonna be a win/win for most exchanges and dexes am i right?
Alex Koloskov-Orion Protocol
Tbh yes) Currently, no solution in market offers traders the liquidity, custody, and accessibility they need in one platform.
No other solutions are combining now Liquidity from centralized exchanges, decentralized exchanges, and swapping pools. So it’s really needed because still majority of trading volumes are conduction of big centralized players. We simply cannot ingore them if we want to create really efficient market.
Hatu-Orion Protocol
Yes, and not to mention, any advancement on any exchange simply benefits Orion too as those advancements are aggregated into Orion’s terminal.
The benefit for exchanges is that they are always going to be the “other side” of the trade.
Several large exchanges and market making firms are in fact the first brokers themselves
We’ll announce them 1 by 1, as per an announcement schedule
Kal-Orion Protocol
Absolutely correct. In fact, we are in talks with many of the biggest centralized and decentralized exchanges for them to become brokers themselves :)
Nyepi,
Orion really solves the problem of many average lazy users like me 😁 logging on to exchange sometimes feel like it’s a drag
Hatu-Orion Protocol
That and more, this video is a good reference for that.
Nyepi
Best price means lowest ask and highest bid right ?
Hatu-Orion Protocol
Right
That’s the advantage of aggregating order books from all markets
tehMoonwalkeR
i see this makes sense, sadly the need for multiple exchanges and funds on them is still there, will there be any way around that in future?
Timothea Horwell-Orion Protocol
This only exists for brokers themselves to ensure they bring enough liquidity, not the end user! The end user won’t need any accounts to trade. And as our partnerships with major exchanges as brokers increase, that’ll reduce the need for smaller brokers with multiple accounts, too.
we’ve got a number of announcements coming up following BitMax with a number of key exchanges, with the goal of having all major exchanges as brokers 😬 really, it makes sense for them to monetize their idle assets by becoming a broker, rather than having smaller brokers doing so on their behalf
$OUL Man
Is the wallet linked to my Orion account developed by Orion? If so, how do new protocols get added as coins come out with their mainnet tokens?
Hatu-Orion Protocol
You use your own preferred personal wallets, not Orion’s
$OUL Man
Can you link more than one wallet?
Hatu-Orion Protocol
Yep
Alex Koloskov-Orion Protocol
We’re going to develop our own wallet but right now our Orion Trading Temrinal work with MetaMask, Formatic, Coinbase Wallet and even more to come.
You can already try our Orbit TestNet here: https://blog.orionprotocol.io/testnet
Please apply!
Hatu-Orion Protocol
And it is blockchain agnostic
Consider it a layer-2, not dedicated to a particular protocol
Kal-Orion Protocol
This is a really awesome AMA structure. Wonderful community here @tehMoonwalkeR
tehMoonwalkeR
glad to have you, projects rarely blow my mind like this
Kal-Orion Protocol
Thanks so much for the kind words!
Ace
Lot of focus on the terminal
But what got me sealed was the Oracle
Oracles are huge now and being able to source pricing from all markets through so many distributed brokers means we get the ultimate oracle
tehMoonwalkeR
lets talk about it
Hatu-Orion Protocol
Absolutely
I touched on the Oracle earlier, and the great part is that the Oracle amplifies the token economy.
ORN is used in payment for the queries, and a portion of that is burned
Kal-Orion Protocol
The oracle is going to be very fun. Don’t forget that coinbase recently released their oracle and instead of competing with chainlink, they partnered. We’d go down that same path 😀
Alex Koloskov-Orion Protocol
Orion Protocol enables the market-leading price oracle that is resilient to price manipulation due to price derivation from every order book in the market. This is incredibly advantageous to external DeFi products that have been regularly exploited due to inefficiencies in price oracles.
tehMoonwalkeR
so its based on chainlink?
Kal-Orion Protocol
Oh no, not based on chainlink but rather, when we release our oracle, we will pursue a partnership path with chainlink vs a competitor path
Hatu-Orion Protocol
Price oracles are critical to DApps and DeFi
Many of the exploits in DeFi were a result of current oracles’ failures
Oracles at the moment are either based on a limited number of exchanges or just very few data feeders. Orion has the ability to tap in every market, through a huge distribution of brokers.
You get all-market data.
In fact, the Oracle was not even part of product roadmap first, but one of the top 3 oracle providers wanted to use the tech to improve theirs.
Just made sense to add an in-house oracle on the roadmap
[MBN Squad] Membrana Ninja ❤️ $ORN (mkzcore)
if i connect my exchange accounts via api to orion as a broker, can I still do own trades with the same accounts?
Timothea Horwell-Orion Protocol
This will run automatically in the background through Orion Broker Software, so won’t affect your own trading 😬
tehMoonwalkeR
I think you have answered all, and now we just want u guys to succeed !
Alex Koloskov-Orion Protocol
Thanks @tehMoonwalkeR! We’re working hard for this.
tehMoonwalkeR
thanks for beeing inhere, maybe we can do another one when everything is live and kicking? would be nice to revisit this
Hatu-Orion Protocol
That would be perfect
Alex Koloskov-Orion Protocol
Actually our main mission is to move the current crypto trading to the next greater level!🚀🚀🚀
👍👍👍 Thank you guys for your time and interesting and deep questions! 👍👍👍
Brought to you by tehMoonwalkeR
