The Orion protocol has made history by becoming the first liquidity aggregator for the Cardano blockchain thanks to its newest partnership. On April 2, 2021, the protocol announced a new partnership with IOHK which will see the two platforms working together to help ensure scalability and sustainability for DeFi and NFT spaces.
This is not the only integration that has taken place with the Orion Protocol in recent times as it announced integrations with Binance SmartChain, Elrond in the last few months.
This new partnership, however, will see the Orion Protocol acting as a decentralized gateway for an entirely digital asset market. Its duties will include aggregating liquidity from crypto exchanges across the internet, both centralized and decentralized, as well as swap platforms into a single decentralized space.
According to the official announcement, the Orion protocol is seeking to solve the issue of fragmentation of crypto, digital assets, and traditional financial markets. This will be done through the creation of a robust and scalable infrastructure which this new partnership helps to provide.
“Orion Protocol is proud to become the first liquidity aggregator to build on Cardano’s groundbreaking infrastructure, working together to ensure the scalability and sustainability of the DeFi and NFT spaces,” the announcement said.
Cardano’s settlement layer, according to the announcement, will have a unit of accounts while its control layer will run smart contracts. The control layer will also be programmed to assist in compliance tasked by recognizing identity and being able to blacklist certain parties.
The Orion protocol will not rely on any single platform to bring users liquidity directly to their wallet but instead will integrate multiple blockchains and exchanges into a single platform.
This, in turn, gives users greater freedom to make use of the tokens across the crypto space. The integration of Cardano’s blockchain will be a significant part of this partnership as it will enable more scalability and interoperability.
The Cardano blockchain is open-source, free of patents, and works towards collaborative efforts to improve the crypto space and the Orion protocol management has expressed excitement at this upcoming move.
“It’s a huge honor to partner with IOHK to become the first liquidity aggregator to the Cardano blockchain. We admire and share their focus on building a scalable, and interoperable DeFi ecosystem, and we look forward to working together to achieve a sustainable future of the industry,” said Alexey Koloskov, CEO + Co-Founder of Orion Protocol.
Published at Fri, 02 Apr 2021 20:22:45 +0000