Place/Date: - April 13th, 2021 at 1:00 pm UTC · 3 min read
Contact: Orion Protocol, Source: Orion Protocol
Orion Protocol, the liquidity aggregator building a decentralized gateway to the crypto market, announces Orion’s code has been successfully migrated to the Polkadot ecosystem via Moonbeam and is underway with building out the UI/UX for integration into Orion Terminal. As a chain-agnostic protocol, this follows recent announcements of integrations with Cardano, Fantom, BSC, Huobi’s ECO Chain, Avalanche, Ethereum, and Elrond.
Fragmentation is a critical issue in the digital asset space. This goes beyond the fragmentation of liquidity across exchanges through to the lack of interoperability between blockchains themselves. Although cross-chain systems are gaining traction, The industry is still too siloed to evolve to a state of full interoperability without a solution that sits across the entire market – impeding scalability.
Chain-agnostic Orion Protocol, the liquidity aggregator building a decentralized gateway to the crypto market, is working with the biggest blockchains in the space to integrate them into the protocol, including Ethereum, Fantom, Cardano, Binance Smart Chain, Huobi’s ECO Chain, Avalanche, and Elrond. Orion Protocol will aggregate liquidity across decentralized and centralized crypto exchanges and swap platforms in one, decentralized platform. In doing so, Orion seeks to solve the fragmentation of crypto markets, as well as assets from traditional finance and NFTs.
Today, Orion Protocol announces that Orion’s code has been successfully migrated to the Polkadot ecosystem via Moonbeam. The Orion team is now underway with building out the UI/UX for Moonbeam and a broader Polkadot integration into Orion Terminal. This integration is expected to be completed by Q2 2021, bringing enhanced interoperability and scalability to Orion Terminal, alongside low transaction costs, low transaction delay, high transaction concurrency, and cross-chain asset transfers.
Orion’s Protocol integration with Moonbeam gives them immediate access to the many integrations already integrated, including projects in the DeFi and NFT space, while opening the doors for Orion to access other assets on Polkadot’s fast-paced, growing ecosystem. Polkadot and Moonbeam developers will be able to use Orion’s decentralized gateway to access major CEX, DEX, and swap pools in one place.
Orion Protocol has already integrated Binance Smart Chain, halving wait times for off-chain order execution and on-chain order settlement. Meanwhile, transactions on BSC can cost 135x than they currently cost on Ethereum.
Furthermore, Orion Protocol is the first liquidity aggregator to build on the Cardano blockchain, enabling far greater interoperability, scalability, and performance of the protocol and each solution – from flagship product Orion Terminal to Orion NFT Aggregator.
Meanwhile, the implementation of the HECO chain into the Orion Terminal is expected to be complete by mid Q2, bringing high performance, low gas fees, and enhanced cross-chain user experience to Orion Terminal. For Orion Terminal users, this will result in low transaction costs, low transaction delay, high transaction concurrency, and cross-chain asset transfers.
Orion’s integration of Avalanche will significantly increase performance, reliability, and security across its Terminal. The integration will also enable Orion Protocol’s users to tap into the growing roster of decentralized applications and new financial primitives on the platform.
Fantom’s aBFT consensus protocol delivers unparalleled speed, security, and reliability – integrating Fantom into the protocol enables almost instant transfers and extremely low fees.
Each chain brings its own benefits to Orion Terminal (including near-instant transactions and incredibly low fees), but together they enable Orion to build a protocol that delivers the security, interoperability, and scalability that the DeFi space critically needs. Together, they will enable Orion to build the only decentralized portal to the entire digital asset market.