Liquidity aggregator Orion Protocol has expanded to Polkadot. Orion’s code’s successful migration to the Polkadot ecosystem was via Moonbeam, a cross-chain smart contract platform on Polkadot. The team announced the integration via Twitter:
“Orion Protocol Expands to @Polkadot by Integrating @MoonbeamNetwork into #OrionTerminal. Orion’s code has been ported to Polkadot via Moonbeam, enabling immediate access to Polkadot’s ecosystem. UI/UX for integration into Orion Terminal is underway.”
Orion is working with the most prominent blockchains, as seen by their recent integrations with Cardano, Fantom, BSC, Huobi’s ECO Chain, Avalanche, Ethereum, and Elrond.
Orion Aims To Solve Fragmentation
The team states that fragmentation is one of the biggest issues in the digital assets space, going beyond the fragmentation of liquidity across exchanges. This is due to the lack of interoperability between blockchains themselves.
Orion believes that while cross-chain systems are gaining popularity and traction, the blockchain industry cannot yet evolve to a full interoperability state without a solution that is inclusive of the entire market. As stated on their blog, Orion plans to solve the defragmentation issue:
“Orion Protocol will provide a non-custodial gateway to the entire digital asset market – aggregating liquidity across decentralized and centralized crypto exchanges and swap platforms in one, decentralized platform. In doing so, Orion seeks to solve the fragmentation of crypto markets, as well as assets from traditional finance and NFTs. “
The Moonbeam Integration
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network. Moonbeam provides a seamless migration thanks to its full EVM implementation. This allows all migrations from Ethereum to happen with minimal changes to their code.
Moonbeam is built as a parachain instance on Polkadot and thus benefits from Polkadot’s core abilities — seamless interaction with multiple Blockchains. Alexey Koloskov, CEO and Co-Founder of Orion Protocol, said:
“Via Moonbeam, we’re incredibly proud to add Polkadot to our roster of chains integrated into the protocol. Orion’s code has been successfully migrated to the Polkadot ecosystem, and we are currently working on building out the UI/UX for users to be able to access the Polkadot blockchain on Orion Terminal. We look forward to becoming the first live liquidity aggregator built on the Polkadot ecosystem.”
How Does The Moonbeam Integration Help?
Orion’s Protocol integration with Polkadot via Moonbeam provides immediate access to the many integrations already integrated on the platform. They include projects in the DeFi and NFT space and allow Orion to access other assets on Polkadot’s fast-paced, growing ecosystem.
Polkadot and Moonbeam developers will be able to use Orion’s decentralized gateway to access major CEX, DEX, and swap pools in one place. Nate Hamilton, Director of Business Development at Moonbeam, further adds,
“As we move into an increasingly multichain environment, liquidity is increasingly split across multiple chains. Protocols like Orion fill an important space aggregating liquidity, which also makes it easier for end-users and developers to meet liquidity needs.”
What Is Orion Upto For The Immediate Future?
Orion team is currently busy building the UI/UX for the Moonbeam integration, along with a broader Polkadot integration into the Orion Terminal, expected to be completed by Q2 2021. This integration will enhance interoperability and scalability to Orion Terminal, along with low transaction costs, low transaction delay, high transaction concurrency, and cross-chain asset transfers.
The integrations will enable Orion to be a protocol that delivers the security, interoperability, and scalability that the DeFi space critically needs.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.