Orion Protocol has launched the first-ever all-in-one decentralized platform aggregating DEXs, CEXs, and swap pools. It has also launched its dollar-pegged stablecoin USDo to add more utility to the native ORN token.
Access the entire cryptocurrency market from a single interface
There is no denying the fact that both centralized and decentralized exchanges have soared in popularity as cryptocurrencies continue to disrupt traditional finance. But even with the rising number of DEXs and CEXs, only a chunk of the global population is using cryptocurrencies.
From increased regulations to complicated user experience, there are several obstacles blocking cryptocurrencies from going mainstream. Orion Protocol, a layer-2 solution offering users decentralized access to deep, cross-chain liquidity in one place, aims to solve the defragmentation of the crypto market. The platform, via its Orion Terminal, offers users global and decentralized access to centralized exchange liquidity, irrespective of their location.
While both CEXs and DEXs allow users to enter the crypto market, they are ridden with several ingrained problems, making it difficult for the larger population to ride the crypto wave. Take, for instance, the exhausting process of registering an account in any centralized exchange. Owing to the tightening regulations, users need to undergo several KYC and AML verifications, which holds back the majority of the users from entering the crypto ecosystem.
Even if users complete the required verifications, the fact that centralized exchanges have control over customer’s funds forces interested customers to think twice before signing up. Decentralized exchanges allow users to exert full control over their funds but demand technical expertise to operate digital wallets, which isn’t something that every user commands.
Orion Protocol’s Orion Terminal solves these problems, lowering crypto’s entry barriers. It has positioned itself as the only platform to offer decentralized access to swap pools, decentralized and centralized exchanges, and that too from a single interface.
Using its proprietary Delegated Proof of Broker mechanism, Orion Terminal, and the Orion Broker Software, the platform enables brokers with exchange accounts and exchanges auto-execute trade orders from customers using their trading accounts. As a result, users don’t need to create several accounts across exchanges or undergo multiple KYC verifications.
All brokers and exchanges using the Orion Broker Software have already conducted the required KYC and AML verifications, so the users don’t have to do it. Meanwhile, users keep complete control over their funds as brokers/exchanges can only execute orders using their funds. Brokers and exchanges stake ORN tokens, which are used to determine who gets to execute trades.
Once an order is processed and the smart contract conditions are met, the platform enables the safe exchange of assets between the user and the seller, guaranteeing 100% security of funds. To add more utility to the ORN token, Orion Protocol has recently launched the dollar-pegged stablecoin, USDo, which will eventually serve as the primary trading pair across Orion Terminal.
With the newly added stablecoin and the all-in-one decentralized platform to bridge the worlds of crypto, traditional finance, and real-world assets, Orion Protocol aims to play a critical role in helping accelerate the widespread adoption of cryptocurrencies.
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