[AMA Recap] - Orion Protocol & Crypto Checker (19/06/2020)

In June 18^th, the AMA of Orion Protocol hosted by Shin was held at Crypto Checker telegram (@cryptocheckervn). The AMA, distributed by the CEO Alex Koloskov and the COO Kal Ali, shed some light on the vision and mission of Orion as well as the benefits of DYCO framework. 

AMA starts here: https://t.me/cryptocheckervn/31148

Part 1: Introduction

Shin: Good evening everyone, I hope you all have had a wonderful dinner and are ready to enjoy our special AMA tonight with Orion Protocol. Joining us tonight are two honor guests from the Orion’s team, they are Mr. Alex Koloskov – the CEO, and Mr. Kal Ali – the COO of the project. Everyone please give our Guests a round of applause to welcome their presences.

Before answering the questions from the form, I suggest we should get to know each other first tonight. So Mr. Koloskov and Mr. Ali, can you tell us a little about yourself and how did you two come up with Orion? Thank you.

Kal: I'm so happy to be here, thank you for having us! I'm Kal COO of Orion, so happy to be here with my partner and great friend Alexey. I come from a traditional finance background having went to business school and made the choice of working in blockchain vs banking. I’ve since consulted both officially and unofficially for several projects until I met Alexey in 2018. I loved his technical expertise and ambition, so we started to collaborate with myself joining as an advisor. We immediately worked very well together and I was lucky enough to have Alexey ask me to join as COO. At Orion I specialize in business development, ecosystem design, and partnerships. I’m proud to be part of such an amazing team

Alex: Hey everyone!  I'm Alexey Koloskov, CEO of Orion Protocol. I’m glad to be here in your great community. We'll update you with the latest news about our project. Waiting for interesting questions. I’ve been in the crypto/blockchain space since 2016. I started my journey in the crypto space with Waves platform in 2016, prior to which I was creating banking software (specifically Internet banking solutions) for large International banks (UniCredit, Deutsche bank, Sberbank). In 2017 created and launched Waves DEX, the platform’s flagship decentralised exchange. It is the most mature DEX out there with daily volume up to $10mln now. Orion was born as our endeavour to move the current crypto trading to the next greater level and the full understanding of the need for an intermediate solution that fills existing gaps between centralized and decentralized worlds.

Along with the team we are truly supporters of decentralized systems. Orion's main mechanism is that it's fully decentralized and non-custodial. No party has access to trader's funds, neither Orion platform or servers nor Brokers. E.g. nobody has access to traders’ accounts or funds as the terminal is governed by smart contracts to enforce secure conditions of the token exchange. The exact rules of exchanged assets are strongly enforced by the conditions specified in the order and validated in smart contracts, all transactions, settlement, fees, volumes are recorded on a public blockchain and can't be manipulated.

Part 2: Questions from the Community

Question 1: Trading terminal while it's a hot topic, it's certainly not new to crypto tech. Many projects had attempted to build one with a big goal in mind, but only a few were making progress. What advantages does Orion Protocol have to be able to realize their goal?

CEO: First of all, Orion is not just Trading Terminal, it's a protocol on top of which different types of applications can be built, including Trading Terminal, Price Oracles, Liquidity Boost plugin, DEX kit, Enterprise widgets, etc..

With Orion Trading terminal traders will get:

- Best possible price on the market among centralized, decentralized exchanges and pools.

- Decentralized non-custodial trading all the time: traders no longer need to risk their assets transferring their funds to some 3d party. Now, they can simply connect their wallet and execute orders.

- Almost zero spread, due to our aggregated order books from every major exchange.

- Traders no longer need to waste time exchange-hopping. They can access the liquidity of the entire crypto market in ONE place.

- Immense liquidity: traders can execute even large orders without worrying of big price slippage that no individual exchange alone can offer even for large trades.

Question 2: The trading terminal of Orion Protocol seems promising, but aggregating all major exchanges is no simple task, how would you convince exchanges to cooperate in such a big scale project?

COO: Yes, technically it is quite a difficult task as building an aggregator is always more difficult than developing a single exchange. But our team has all necessary expertise and experience to implement all these tasks.

While we do have a number of exchanges as partners, we don't need partnerships with exchanges in order to access their liquidity - we're doing so through APIs. It's impossible to prohibit our use of the APIs - with anyone being able to be a broker, it's impossible for exchanges to know which of its traders are giving the API access to the terminal. The decentralized nature of our brokers make it impossible for exchanges to shut down our access to their APIs.

It's mutually beneficial, though: rather than taking users away from their exchanges, we’re providing another point of access to their liquidity, allowing users to trade across exchanges they don’t even have accounts with.

The great news is exchanges understand all benefits of running their own Orion brokers, and with our latest partnerships with Bitmax you can see this trend:

https://blog.orionprotocol.io/bitmaxpartnership

Even more announcements about Tier-1 exchanges joining Orion Brokers Pool  are coming soon.

Question 3:  Can you tell us some of your partners and who you plan to collaborate with, in the nearest future?

CEO: Orion is chain agnostic so we can be flexible with our needs. We can, and will, migrate several parts of the project over to different chains as we see fit. We feel we've partnered with some of the best blockchains/DLTs in the industry and we're fully confident in their capabilities. Find Bitmax, Elrond, Holochain, Algorand, Certik, Wanchain and others among our partners, You can learn more about our partnerships here: https://www.orionprotocol.io/partners

Soon we exepct more 3d party exchnages, big Market makers and institutional funds to join Orion as brokers. Ans of course technical partnerships with great blockchain projects, which doing unique things, is in our focus.

Question 4: Recently, many projects sold tokens in the form of IEO and were very successful. Why did Orion Protocol choose DYCO?

COO: Great question! We have always been big fans of DAO maker and they put together this amazing new token sale, I'll describe it more.

Sentiment we’ve gotten from the community is that ICOs/IEOs have had their time - they’re risky and are not as profitable as they once were. Furthermore, even if a team is creating a strong product, they are not held accountable for creating a strong token.

The DYCO is the true successor to the ICO. Designed to greatly reduce the risks of token sale participation without sacrificing results, a DYCO offers its participants the ability to refund a token, no matter if they held them or previously sold them at a profit.

This model is stable and ensures greater accountability of the project team for reaching milestones and delivering promised results. Holders can the upside of a project performance without the danger and uncertainty of traditional token offerings. Unlike most tokens, you hold the power: you will be able to trade from day one.

Under the framework, Orion guarantees to return 80% of the raised money back to DYCO participants through refunds, if requested. The refunds also create a price floor that provides organic liquidity and volume, creating a healthy secondary market. Every ORN token that will be refunded will be destroyed: only purchased tokens will be in circulation till the 16th month.

CEO: And you can find out more about DYCO here: https://daomaker.com/dyco/orion

Question 5: What is role of ORN token in Orion Protocol project ecosystem? What are the beneficial usecase of ORN?

CEO: $ORN is used for:

- Broker staking

- User staking to get a share of the fees in the platform

- Discounts on trades (CEX + DEX + liquidity pools)

- Oracle discounts

- Voting for brokers

- For brokers to get higher chance of selection

- Payment of licenses for the DEX kit

We at Orion are working to ensure longevity of the supply-capped $ORN token through a number of methods:

- Unrivaled token utility

- Non-inflationary staking

- Diminishing supply

- Strong holder benefits

- Refund opportunities

- Thirteen revenue streams

Learn more about ORN token: https://blog.orionprotocol.io/tokeneconomy

Part 3: Live Q/A

Question 1: And how does it work for non erc20 tokens/coins? Do they get wrapped into erc?

CEO: Yes, traders first need to swap their native currencies if it’s not erc20 to wrapped tokens, e.g WBTC. But this process also happens in decentralized way via atomic swaps implemented by Orion team or via 3d party and partners.

Question 2: Do you have any plan to list in other exchanges?

COO: Absolutely. In fact, we will be partnering with many exchanges! Several are already in the works.

Question 3: Many blockchain projects have failed for many reasons. What do you think about this issue? What has Orion prepared to thrive in this blockchain market?

CEO: There is absolutely need for great Level-2 applications solving real-world problems, which Orion of course is!

COO: We believe they've failed because of......lack of revenue and real business! Orion will come out of the gate with 13 revenue streams and we will be continously adding more with the ORN token at the center, fueling the entire ecosystem.

Safe to say we won't be lacking revenue or real business. In fact, we are already in discussion with clients for our DeFi products prior to us even launching!

Question 4: DEFI is a topic mentioned a lot in the field of blockchain. Can you share your views on DEFI? How will Orion Protocol approach DEFI?

CEO: Our DeFi products build on top of Orion Protocol Orion Terminal, Orion Lending, Orion Margin, Price Oracle, Liquidity Boost Plugin, DEX Launch Kit,  Enterprise Widget solve some of the largest issues in DeFi.

COO: We owe that to the technical master, our CEO.

Question 5: Does Orion Protocol have any plans to link / integrate with other Dapps?

CEO: The Protocol is usable by anyone, but the team is leading the product development on the protocol to enable expansion. To facilitate others seeking to use the protocol, a developer kit will be launched to expand Protocol use. A wide variety of applications can be built on Orion Protocol, including apps for investment, trading bots, and payment gateways. The Protocol will be used extensively for every decentralized application in the marketplace. The first dApp running on the Orion Protocol will be Orion Terminal. Within Orion’s dApps, ORN will function as a utility token, being used to pay for all services.

Question 6: How does Orion integrate all exchanges and allow us to make transactions without having to create an account on them? I know #TroyTrade does the same thing. So what are the differences of #OrionProtocol and #TroyTrade?

CEO: Built on the most advanced liquidity aggregator ever developed, Orion solves the largest problems in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform – pulling from every major centralized exchange, decentralized exchange, and swapping pool. No other platform does this, including Troy Trade! Here's a side by side comparison:

Question 7: How difficult was the implementation of the Orion Protocol project? What did you guys do to overcome that difficulty?

CEO: Our team has great expertise and long experience in building exchanges (DEXs), blockchain projects, stock markets, financial and banking software.

Question 8: How many members in your team,and do you want to hide out source?

COO: Nothing! We have a team of more than 15 people and are growing including our core team, developers and advisors. Valuable experience, technological aptitude and industry expertise are what make our team worthy and able to achieve our vision. Across our team, we:

- EXCELLENT FROM FORTUNE GLOBAL 500 COMPANY such as Microsoft, Telefonica and Accergy.

- BUILT ONE OF THE MOST SUCCESSFUL DEXES: DEX WAVES is widely available.

- SUCCESSFUL BUSINESS ENTERPRISES like Coin, Latitude Service, Woodstock Fund and EYSS.

- WORK WITH LEADING CRYPTO COMPANIES such as Matrix AI, Holochain, Quant Network, Seele, Bounty0x, Morpheus Network, RiveX and Pchain.

Question 9: Can you share some achievements that the project has achieved recently and reveal some plans of the project in the near future? I think it will help people have a more positive view of the project.

CEO: Take a look at our road map: https://www.orionprotocol.io/orn

Question 10: How does the transaction load in the #Orion chain affect validator rewards? Is the block reward always the same?

CEO: Please take a look at the trading workflow on Orion:

Orion Protocol information:
Website: https://www.orionprotocol.io/
Telegram: https://t.me/orionprotocol
Twitter: https://twitter.com/orion_protocol
Github: https://github.com/orionprotocol
Linkedin: https://www.linkedin.com/company/orion-protocol
News: https://blog.orionprotocol.io/
Email: admin@orionprotocol.io

Disclaimer: Bài viết chỉ nhằm mục đích cung cấp thông tin và không được coi là lời khuyên đầu tư. Đầu tư Crypto là một hình thức đầu tư mạo hiểm và người tham gia phải chịu hoàn toàn trách nhiệm với khoản đầu tư của mình. 

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