Orion Protocol is an open-source decentralized blockchain platform designed to act as a liquidity aggregator for centralized and decentralized exchanges. It aims to unify the crypto market by aggregating liquidity from various platforms, enabling traders to find the best rates and lowest fees without navigating multiple forums.
Orion Protocol operates using a modular architecture of distributed and decentralized services, conducting settlements on the Waves blockchain. It employs a Delegated Proof of Broker (DPoB) consensus mechanism, involving Brokers and Non-Broker Stakers, to manage trades and ensure connectivity across exchanges. The protocol utilizes smart contracts for secure trade execution and includes an internal decentralized exchange (DEX) for efficient order matching.
Orion Protocol offers use cases such as liquidity aggregation for seamless trading across exchanges, support for decentralized applications like trading bots and payment systems, and enterprise solutions through crypto trading integration. The protocol also extends its capabilities to DeFi and NFT ecosystems, particularly through partnerships with major blockchain platforms like Cardano.
Orion Protocol was founded in 2018 by Alexey Koloskov and Kal Ali, launching its platform in 2020. The protocol has achieved significant milestones, including developing a liquidity aggregator and forging partnerships with platforms like Cardano. It combines advanced technology and a non-custodial approach to enhance the trading experience, maintaining a growing presence in the crypto market.