Another important innovation rocks the crypto space. Orion Terminal has launched phase one of its mainnet upgrade.
Orion Terminal is popularly known as the first-ever decentralized portal to the cryptocurrency sphere. The protocol serves as a bridge between DEXs, CEXs, DeFi protocols, even traditional platforms, etc., incorporating them into a single orderbook. The mainnet Terminal team has been hard at work to ensure the successful and timely launch of the upgrade. Phase one of Orion Terminal, following a series of testing, is finally ready to go live. The public mainnet launch is slated to take place on December 15 at 2:00 pm (UTC).
The entire Orion ecosystem is designed on a system of brokers in charge of Orion software. The software boasts of several brokers, including KuCoin, MXC, BitMax, etc. Interestingly, over the last couple of months, several tests of the soon-to-launch protocol was privately carried out across some of the brokers. This was to ensure the proposed protocol is secure, stable and functional before its mainnet launch. Orion Terminal also recently completed an audit of its proposed mainnet. The audit was carried out by prominent security company CertiK.
Orion To Champion Seamless Trade Among Exchanges
Orion aims to facilitate an easy-to-use, hitch-free, and convenient gateway to trade. Furthermore eliminating the need to provide private keys before being able to complete transactions. This will be made possible by simply combining liquidity from different kinds of exchanges (swap pools, centralized and decentralized exchanges) into a single orderbook.
More exciting updates are expected soon. According to the announcement, plans are in place to offer other services like margin trading, derivatives, leveraged ETFs, NFTs, lending, staking, etc. in 2021.
Staking of Orion’s native token, ORN, will also be available in Q1 of 2021. The native token will help power the entire protocol, providing important functions like protocol access, discounted trading, staking returns, and other advanced features.
Speaking on the announcement, Orion CEO Alexey Koloskov, disclosed that this upgrade has been a goal of the company since its inception. Koloskov added that a lot of time and resources have been spent in developing the protocol. He said that the phase one public mainnet launch is a step in the right direction “towards revolutionizing trading.”
Admission to phase one of the terminal will be based on ranking using a referral system. Every new referral with a user’s referral link improves his/her ranking. Those with the highest ranking on December 15 will receive priority access. More users will also gain access every week.
Step-by-Step Process on How To Earn Priority Access
- First, sign up to reveal your referral link.
- Share your referral link across various social media platforms.
- Lastly, every sign up via your referral link will increase your ranking.
At the time of writing, ORN was trading at $2.70, with a market cap of $35,053,135 and a 24-hour trading volume of $7,988,879.
Find out more about the crypto space on the Altcoin Buzz YouTube channel.