Orion aggregates liquidity, order books, and trading pairs of every major CEX, DEX, and swap pool into one non-custodial, chain-agnostic, and decentralized platform, with the flexibility to facilitate seamless cross-chain trading that goes beyond just Ethereum.
Orion Terminal, the decentralized gateway to the first hybrid cryptocurrency exchange aggregator, Orion Protocol, is set to launch Phase One of its mainnet on December 15. The platform will provide a singular, non-custodial portal to the entire digital asset market.
Following successful stress-testing and an audit by leading security firm CertiK, Phase One will introduce live trades for Orion Terminal, aggregating liquidity from major centralized and decentralized cryptocurrency exchanges and swap pools into a single order book.
Access will be restricted and prioritized according to a ranked referral scheme with the number of trading pairs and full feature set limited initially. However, several updates are rolling out in the coming months, including lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, and staking of any digital asset type.
What’s Wrong with Existing Aggregators?
In a competitive and fragmented exchange market, aggregators have made good progress in pooling together liquidity at a single point of access and improving user experience. However, they converge either around centralized exchange (CEX) or decentralized exchange (DEX) markets exclusively, retaining the issues inherent to those ecosystems.
Centralized exchange aggregators like SwapSpace negate the need for multiple exchange accounts to manage tokens with greater convenience. However, they still often leave users vulnerable to exchange hacks and counterparty risk and lack the interoperable benefits of being blockchain-based. They can pool together greater liquidity and provide multi-chain access, but remain centralized themselves, fail to capture the potential of defi, and are usually custodial.
Decentralized exchange aggregators such as Matcha build on the increasing demand for DEX services and tackle the generally low levels of liquidity compared to their CEX counterparts. They also allow users to capture the potential of the growing defi space. However, they still lack the volume, low spreads, reduced slippage, and sheer variety of trading pairs on major centralized platforms. They are also mainly limited to ERC20 tokens. The same is true of defi swapping pools that are open to token price manipulation as they are not large enough to sustain demand.
What Makes Orion Terminal Different?
Orion Terminal does not compete with CEX or DEX platforms. Instead, it complements them both and seeks to deliver a new hybrid solution that bridges the gap as a decentralized access point to each source of liquidity. It offers the best of both worlds without the wasted time and hassle of managing multiple accounts.
The platform will provide the first gateway to the entire crypto market. Orion aggregates liquidity, order books, and trading pairs of every major CEX, DEX, and swap pool into one non-custodial, chain-agnostic, and decentralized platform, with the flexibility to facilitate seamless cross-chain trading that goes beyond just Ethereum.
How Does It Work?
Orion Terminal works by combining Orion’s Liquidity Aggregator Protocol with a decentralized network of brokers to deliver non-custodial order execution and settlement while accessing greater liquidity from major exchanges to provide the best prices, low spreads, and minimal slippage.
The order matching engine, built into a familiar interface, delivers advanced trading tools connected to hundreds of top CEX and DEX platforms. Orion Terminal guarantees efficient order fulfillment and arbitrage opportunities at scale by aggregating the order books without needing to navigate KYC processes and manage accounts at multiple venues. Instead, users connect and trade directly from their wallet via any supported CEX or DEX without surrendering their private keys, assets, or data.
Delegated Proof of Broker (DPoB)
Orion Terminal’s decentralized access portal to the aggregation of both CEX and DEX worlds is made possible through its unique DPoB governance mechanism. DPoB provides a system of Decentralized Brokerage, utilizing Orion Protocol’s native token, ORN, and further monetized through Orion’s defi partners.
A network of Brokers in the Orion ecosystem use their own verified exchange accounts and run the Orion Broker Software to automatically execute trades from the Liquidity Aggregator, governed by the Orion Protocol smart contracts.
Brokers earn rewards for executing orders, and Stakers can delegate to preferred Brokers to share in those incentives. ORN holders also benefit from discounted trading, advanced features, protocol access, and staking returns.
Democratizing Market Access
Orion Terminal is the first decentralized gateway providing access to the entire centralized and decentralized crypto marketplace, avoiding the largely siloed pitfalls of existing aggregator services, and solving the issues of liquidity, custody, accessibility, and scalability in one user interface.
By presenting participants with a universal solution, Orion Terminal has the potential to democratize – and potentially even revolutionize – crypto trading in the months and years ahead.
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.