Decentralized liquidity aggregator, brokerage, and crypto lending platform Orion Protocol have launched its liquidity mining program on Uniswap’s AMM. It will distribute weekly rewards to the providers of liquidity for the ORN/ETH pool.
Rewarding Uniswap Liquidity Providers with ORN
Innovative Defi platform Orion Protocol has recently made liquidity mining available to users on the most popular DEX, Uniswap V2. Every week, 30,000 of the project’s native ORN tokens will be distributed among users who deposit funds to the ORN/ETH liquidity pool. The reward allocation will be proportional to the participants’ contributions to the pool.
Uniswap liquidity pools (LPs) are Ethereum-based smart contracts functioning as automatic market makers. Anyone can create a Uniswap pool for any pair of ERC20 tokens, or an ERC20 token and ETH, by depositing equal amounts of the two currencies via a range of tools, including the popular MetaMask wallet. Users who wish to buy one of the currencies from the pool need to submit an amount of the other automatically calculated by the pool’s smart contract. Users can also provide liquidity to an already existing pool and are rewarded for this with a portion of the trading fees.
Both the creators of the pool and the subsequent liquidity providers receive the pool’s tokens that they can later burn to withdraw their share of the pool. Defi platforms like Orion Protocol further allow users to stake their LP tokens to “farm” their native tokens as protocol rewards.
The ORN token payouts in Orion’s liquidity mining program are determined programmatically by the dedicated smart contract, and they will be higher for liquidity providers who keep the funds within the pool longer. The APR at the time of writing is around 186%. Users wishing to participate in the program can find detailed instructions here.
Orion Working to Aggregate the World’s Crypto Liquidity
Orion Protocol’s ambition is to pool together the liquidity across all centralized and decentralized exchanges and swapping pools on a single platform. Users will thus be able to access any of the expected 10,000 trading pairs from a single terminal. The platform also offers a convenient access point to crypto markets for institutional participants via its regulatory-compliant gateway created in a partnership with AllianceBlock.
All transactions made through the protocol are non-custodial, meaning that users remain in control of their crypto until the exchange has been executed. The Orion stack also includes decentralized lending, and both the brokerage and decentralized lending functionalities rely on market-leading Chainlink oracles for reliable price signals.
Orion Protocol’s ORN token is the utility token of the platform. ORN token holders will have the opportunity to benefit from as many as 13 revenue streams. All of the tokens that will ever exist have already been minted by the smart contract, which means that the future supply is capped and predictable. The token has recently been featured by CryptoDiffer as having the second-highest return on investment (ROI) among tokens listed in 2020.
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