Single Blog

Orion Protocol: A Complete Overview

Created By : Admin

What is Orion Protocol? 


The protocol aims to bridge the gap between the centralized and decentralized worlds of crypto. Built on the most advanced liquidity aggregator ever developed, Orion Protocol aggregates the liquidity, order books, and trading pairs of every CEX, DEX, and liquidity pool in the market into one decentralized platform.

The term liquidity aggregator refers to technology that allows participants to simultaneously obtain streamed prices from several liquidity providers/pools. To aggregate means to gather all of the data and compile it together into one report. This is exactly the purpose that Orion Protocol’s platform will serve. The system will sort through the data on exchanges both centralized and decentralized, looking at how much liquidity there is among buyers and sellers on the platforms, the prices and quantity people are buying and selling on order books, and most importantly, the current price of the coin in question across all exchanges and liquidity pools, making it a fully automated process


Order Matching Engine

Orion Protocol’s Order Matching Engine looks at order books across all of the exchanges offering the desired coin on the market. It establishes the highest price investors are buying at and the lowest price they are selling at, allowing users of the Orion Protocol to capitalize off current market conditions while knowing they have got the best price currently on the market.


When the engine is activated by a user’s buy or sell order, it will first attempt to execute it on the internal order book. If the price offered by the internal order book is not the best currently available on the market, then it will perform a smart search using data provided by the Price Discovery Module in order to establish and locate the exchange or exchanges that offer the best price for the quantity the user wishes to buy or sell off the coin.

Once the order has been placed, the Protocol uses specific executors for both CEX’s and DEX’s to complete them. The executors utilized for Centralised exchanges function by means of API keys, while executors utilized for orders on decentralized exchanges are performed directly from the multi-currency wallet by use of a private key


Multi-Currency Wallet 

Orion Protocol will feature their own digital wallet that supports a variety of cryptocurrencies, including their own native ORN coin. Users can utilize their Orion Multicurrency wallets when placing buy or sell orders on decentralized (DEX) exchanges. The wallet’s function in the process is to sign DEX orders for DEX Executors. Users can connect their wallets to the Orion Portfolio Management Module to track their transaction history and to calculate any profit or loss they may have made along the way.

DApp Marketplace

Orion’s Decentralised Application Marketplace allows users of the platform to avail themselves of Orion-based applications, the first of these being Orion itself. Trading bots, payment networks, and investment funds are just some possibilities of apps users could access through the marketplace. 

Portfolio Management Module

Orion’s Portfolio Manager automates the calculation and tracking of the user’s portfolio. It automatically keeps record of their trading history, profits and losses incurred and notes changes and differences in trading strategies implemented by the user over time.

Orion Terminal

Phase 1 of Orion Terminal went live on the mainnet on December 15, 2020. Phase 1 supports trade, deposit, and withdrawal services. More features including trading pairs will be added over the next month, including ORN staking at the beginning of Q1. Lending, margin trading, leveraged ETFs, derivatives, contract trading, NFTs, and staking of any digital asset type will also be added to the platform in the future.

Orion Terminal’s data will be providing Chainlink’sprice oracle network with its information and pricing.

Use Case

The Orion Terminal is the first decentralized gateway to the entire crypto market. This means traders no longer need to waste time exchange-hopping as now they can access the liquidity of the entire crypto market in one place, including thousands of trading pairs. Traders no longer need to worry about finding the best price for their assets: by aggregating the order books of every exchange, Orion Terminal guarantees the best prices and some of the lowest fees possible, with almost zero spread and zero slippage. 

Closing Remarks

Orion Protocol provides convenience and makes trading a smoother experience for all investors both new or old. The platform allows investors to get the best value for money when buying coins, therefore utilizing their investment to its full potential. The use case of the protocol will cause it to only grow in popularity over time. The ORN token is used to pay fees and can be staked on the platform which provides an incentive for trades making use of the platform to buy the token which will cause it to rise in value.