The DeFi StartUp Orion Protocol is an all-in-one decentralized finance (DeFi) platform that has been in stealth development since 2018 and has been largely self-funded by Orion’s core team. The FinTech company is led by Alexey Koloskov known as the creator of Waves DEX, a decentralized exchange on WAVES blockchain.
DeFi Unicorn, Orion Protocol
Orion is developing a new generation liquidity aggregator that offers a wide range of tools and trading solutions that brings together all major crypto exchanges, both centralized and decentralized, on a decentralized platform. Orion Protocol brings unlimited liquidity via a shared pool of brokers and makes it available for trading in a decentralized, unprecedented, and non-custodial way.
Being the first of its kind, Orion Protocol gained attention in 2019 after announcing a strategic partnership with the Romanian Blockchain developer Elrond Network. Elrond Network got during spring 2019 their global fame after using a novel community-building method based on DAO Maker`s Social Mining Software and the successful IEO on the leading cryptocurrency exchange Binance.
Elrond Network is launching these days their main net and Orion Protocol`s Trading Terminal will be deployed on Elrond`s network. This is an example of how partnerships can lead to success in the blockchain scene.
The Cooperation with DAO Maker has boosted Orion`s pace after engaging them for marketing, strategic advisory, community building, and finally the fundraising of 3.45 Million USD. DAO Maker`s team decided to use a recently developed fundraising model, based on the fact that the global crypto markets barely survived a huge crash on March 3rd. So Orion Protocol became the first company using the Dynamic Coin Offering (DYCO) fundraising model.
What is Orion Protocol?
Orion Protocol is essentially an open-sourced DeFi project that facilitates users to acquire the best revenue from their investments in the cryptocurrencies while eradicating the threats associated with various centralized and decentralized exchanges.
The DeFi project functions by collecting various platforms’ liquidity across different exchanges in a single, universal API. Subsequently, this API contains other order books from crypto exchanges to make it easier for users to make trading calls at their convenience.
The company aims to deal with the extensive problems of significant exchanges that have controlled the cryptocurrency market. According to Koloskov and his team, centralized exchanges have their own set of complications and loose regulations that could still lead to catastrophic scams and fraud. The lack of interoperability between both centralized and decentralized exchanges is a significant progress hurdle for this industry. On the other hand, a decentralized exchange is still not developed enough to make a considerable mark on the cryptocurrency market
Orion`s Protocol enables the DeFi startup to deliver a series of products that have imminent market demand, the Terminal, Oracle, aggregated lending, and trustless high-margin trading.
The Initial Coin Offering Dilemma
The cryptocurrency world has seen a majority of ICO`s taking an unfortunate turn over the last four years. ICO’s are attributed to high risk to the bear market that eventually results in the collapse of numerous cryptocurrencies, even before they become legitimate. The alarming number of frauds associated with ICOs stems from the lack of proper understanding of the technology and missing regulations; thus, they have been spurring the crypto space in 2017 and degrading the technology advancement since 2017.
The idea of crowdfunding within the crypto community wasn’t bad in itself. The problem was the faulty ICO-construct. It gave the investor never any kind of security and did not force the team to deliver anything. The deal was finalized at the moment when the investors got their promised tokens. The team could rest on the laurels, mission accomplished.
For outsiders, the impression arose that it’s all about fundraising and not about building technology and this was mainly the reality. As people became warier of the ICO scams, the crypto industry tried releasing Initial Exchange Offerings (IEO) with major cryptocurrency exchanges as intermediate. Centralized Exchanges enjoyed their role and introduced new coins and currencies to the market by backing them up and providing certain credibility. However, this was bordering on close to market manipulation that eventually would become centralized. A contradiction to the actual decentralization idea of the crypto industry.