Terra has been known as the blockchain with strength in financial services (payment, lending saving,...). Currently, Anchor Protocol - a saving protocol accounting for nearly half of the TVL on Terra.
However, only Terra’s users can benefit from the stable saving rate that Anchor offers. Therefore, Orion Market comes into place and brings a cross-chain solution for Anchor Protocol.
What is Orion Money?
Orion Money is a cross-chain stablecoin bank providing a seamless experience in saving, lending, and spending. It allows users to deposit stablecoin from blockchain other than Terra while still earning the stable interstate generated by Anchor Protocol.
Orion Money contains 3 main products:
- Orion Saver: Enables users to deposit stablecoins from any blockchains and earn a stable saving rate from Anchor Protocol.
- Orion Yield and Insurance: Provide even high-yield and insured products
- Orion Pay: Integrates with fiat on-off ramp solutions and allows users to spend their stablecoins in a variety of ways
How does Orion Money work?
Only Orion Saver has been live, so in this part, I will discuss how Orion Saver works.
Orion Saver is basically a front-end interface for EthAnchor (a bridge to bring Ethereum assets to Anchor). The process will look like this:
- Users deposit Ethereum-based stablecoins (USDT, USDC, BUSD, and DAI) in Orion Money
- Stablecoins in Orion Money are swapped for wrapped UST via Curve
- The assets are then deposited to Anchor protocol via EthAnchor
However, from the end-user experience, the process is straightforward. They just deposit their assets and start earning yield from Orion Money.
As of now, as the swap is conducted on Ethereum via Curve, users must bear the network's high gas fee. In the future, Orion Money will facilitate the exchange on Terraswap for a better customer experience.
Functioning on Ethereum so Orion Money now just supports ERC-20 tokens as you can see from the picture below.
What is ORION token?
ORION is the native token of Orion Money. Currently, ORION is minted on Ethereum and will be bridged to other networks (Terra, Polygon, BSC) if needed to facilitate cross-chain transactions.
Detailed information about ORION token
ORION Key Metrics
- Token Name: Orion Money.
- Ticker: ORION.
- Blockchain: Ethereum.
- Token Standard: ERC-20.
- Contract: 0x727f064a78dc734d33eec18d5370aef32ffd46e4
- Token type: Utility, Governance.
- Max Supply: 1,000,000,000 ORION.
- Circulating Supply: 22,186,472.57 ORION.
ORION Token Allocation
ORION Token Sales
ORION Release Schedule
ORION Token Use Cases
Governance: Users stake ORION to have the right to vote on: APY interest and tiers, community fund spending, marketing fund spending,...
Earn revenue shared from Orion Money.
Increase saving APY: The more ORION users stake, the higher APY they can earn from saving.
How to get ORION token
Currently, you can buy ORIONs from several exchanges:
- CEXs: Gate.io.
- DEXs: Uniswap (Ethereum), Pancakeswap (BSC).
Another way to get ORION is to join the upcoming IDO on StarTerra and Pylon Pool right here.
How to buy ORION token on Coin98 Exchange
Coin98 Exchange is a decentralized exchange (DEX), a Multi-chain liquidity aggregator that offers users a wide variety of DeFi services (swap, stake, lend, borrow,...) through intuitive and simple interfaces.
You can buy ORION on Coin98 Exchange by swap button right at the bottom of this article.
How to store ORION token on Coin98 Wallet
You can store ORION ERC-20 on Coin98 Wallet by following these steps:
Step 1: At the main screen of Coin98 Wallet, click Receive.
Step 2: Search for ORION token.
Step 4: Copy your ORION wallet address and send ORION tokens to this address.
ORION Money Roadmap
Team, Investors, and Partners
Is ORION token a good investment?
I hope that from all the mentioned information, you can get a basic understanding of Orion Money to start researching more about this project. It is hard to tell firmly whether any project/ token is a good investment or not.
However, I will provide you with some key highlights of Orion Money so that you can do your own research and make your own investment decisions:
Orion Money is part of Terra blockchain, which is among the blockchains that have the highest TVL ($10.22B) and a steady growth rate.
Orion Money has a close relationship with Anchor - the top-tier protocol in Terra. It helps Anchor in capturing cross-chain liquidity while also benefits from the growth of Anchor.
When more users from other chains want to earn a stable saving rate in Anchor, they should choose Orion Money as the protocol to deposit money in. This undoubtedly captures more TVL for Orion Money. The current TVL of Orion Money is around $170M.
Orion Money’s investors include some notable names such as Hashed, Delphi Labs. This protocol was also advised by Terra Founder (Do Kwon), GM of Anchor (Matt Cantieri) and CTO of Delphi Labs (Luke Saunders).
Some similar projects:
- Apollo DAO (APOLLO): Yield Management Platform on Terra.
- Spectrum Protocol (SPEC): Yield Optimizer on Terra.
That is all you need to know about Orion Money. If you want to have more information about this project, feel free to comment down below. You can also join our community at Coin98 Community to discuss any topic that you are interested in.