Place/Date: Tel Aviv, Israel - April 30th, 2021 at 7:38 am UTC · 3 min read
Contact: Ran Hammer, Source: Orbs
Orbs, a decentralized project aiming to connect the world of enterprise to DeFi, has listed its token on the PancakeSwap platform, one of the largest decentralized exchanges by total value locked and volume.
The PancakeSwap listing comes shortly after the Orbs team launched a cross-chain bridge between Ethereum, the home of the ORBS token, and Binance Smart Chain, home of PancakeSwap. By using multichain.xyz by Anyswap, the token can be seamlessly transferred back and forth between the two blockchains.
PancakeSwap is the largest DEX on Binance Smart Chain and frequently contends for first place with Uniswap, with almost the same total value locked of $9 billion compared to Uniswap’s $9.23 billion. PancakeSwap easily wins the comparison when adjusting for the $2.5 billion in the FEI-ETH pool, a special incentivized pool that heavily limits trading in certain conditions. PancakeSwap regularly sees over $1.5 billion in daily volume.
Using PancakeSwap and Binance Smart Chain enables ORBS holders to make vastly cheaper swaps and earn higher yields by providing liquidity once they transfer the tokens to the Binance-backed blockchain. By utilizing multichain.xyz, they can easily transfer their tokens from Ethereum to BSC and put them to use in the ORBS-BNB pool, earning swap fees while remaining exposed to ORBS. Binance Smart Chain offers vastly lower gas fees thanks to its higher transactional capacity, which means that buying ORBS through PancakeSwap is cheaper, while LPs see a much smaller portion of their profits eaten by gas fees.
Tal Kol, Founder and CEO of Orbs,said:
“We’re excited that the Binance Smart Chain community – and disgruntled Ethereum users – can access ORBS on this exciting new venue. Binance Smart Chain is the natural second home for Orbs, both for its comprehensive integration with the exchange itself and our backing of the DeFi.org accelerator, which was launched to incubate innovative DeFi projects in partnership with Binance.”
Orbs has been particularly active in the DeFi space recently, having introduced the Liquidity Nexus in March 2021. The initiative aims to leverage Orbs’s strengths in enterprise to connect real world companies to DeFi liquidity, letting them earn yield while enabling a new source of liquidity for the DeFi world. Paradigm Fund, one of Orbs’ most prominent contributors, has also launched the Orbs DeFi portal to make it easy to make use of DeFi opportunities offered by Orbs.
Orbs is heavily involved in funding and supporting upstart DeFi projects, both through an in-house Grants program and the DeFi.org accelerator, launched in 2021 as the result of a collaboration with Binance.
Orbs is a public blockchain infrastructure designed for mass usage applications. Combining scalability, low fees and isolation between virtual chains with a top-grade developer experience, online IDE and smart contracts in familiar languages, Orbs provide developers the perfect mix of performance, cost, security and ease of use.
Founded in 2017, Orbs is being developed by a dedicated team of more than 30 people out of its offices in Tel Aviv, Israel, Singapore, and Seoul, South Korea. Orbs was named Gartner’s “Cool Vendor in Blockchain Technology” for 2018.