Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come

CryptoNinjas » Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come

Orion Terminal, a crypto trading app offering liquidity of every single crypto exchange into one decentralized platform, has now been live for five days. The Orion Terminal, which launched on March 31st offers to trade on Ethereum and Binance Smart Chain.

Since launch, the Orion team has received feedback raised by traders that it will look to address. Performance results and issues under development can be seen below.

Infrastructure

In response to rapidly growing demand, the Orion team hard at work building a solid, performant, and secure foundation for users. Many conversations are happening internally about opening up parts of the Orion Terminal infrastructure for more transparency and community involvement, as it moves towards the goal to become open-source.

Volume

The Orion team reports they are pleased with the volume so far (outpacing a number of established DEXs already) and will continue to work to drive more volume to the protocol in its work towards mainnet staking. On April 14th (2 weeks after trading began), Orion plans to share Terminal metrics and volume in a Terminal Performance Dashboard. Meanwhile, progress is being made with several of its B2B partners, each of which will drive volume to the Terminal.

Trading Pairs

Currently, there are 33 tradable assets on the Terminal across two chains, resulting in 516 tradable pairs via complex swap. Orion will have two methods of adding new tokens to the Terminal in order to accelerate pair growth:

  1. High Volume Assets: Orion will be adding pairs periodically based on several factors including availability, liquidity, and volume.
  2. Popular Assets: Alongside adding pairs themselves, Orion is developing an on-chain voting mechanism in order to add new pairs to the Terminal.
  • There will be weekly voting on select assets for BSC and Ethereum.
  • The top-voted assets on each chain will be added the following week.
  • This results in two new assets per week, leading to hundreds of more pairs being available on Orion Swap (582 tradable pairs after week one, 652 tradable pairs after week two, and so on).
  • This started Monday, April 5th, with the most voted assets added the following week.
  • This process will continue for new tokens and new chains will be added to the voting process.
  • The Orion team will be adding assets periodically in addition to the voting.

Binance Bridge

The development team is close to launching a seamless integration of Binance Bridge into the Terminal, the first BSC partner to do so. This will allow MetaMask users to trade assets on BSC while being connected to the Terminal on the Ethereum network. Orion plans to have this bridge live by the end of the month.

Staking

Lastly, Orion is also working hard on the implementation of mainnet staking on the Terminal. The Orion team ensures the community and ORN token holders that they can continue to earn competitive rewards through the CEX pre-staking and liquidity mining program.

“It’s been just over five days since trading began on Orion Terminal. Despite a hectic start (with hundreds of thousands of visitors to the Terminal within seconds), we’re incredibly pleased with progress so far and will continue to build to meet the demands of our traders on our road towards the future of trading. We’d like you to consider for a moment why there are so many clones or forks of Uniswap, but few projects building their own proprietary tech. It’s a huge task to build a project from the ground up – one that will revolutionize trading – but that’s what we’re doing. Development takes time, and we’re committed to delivering a revolutionary solution that addresses key industry issues: fragmentation, centralization, and liquidity.”
– The Orion Team

CryptoNinjas » Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come