What is Orca? Orca is a decentralized exchange (AMM) built and developed on the Solana blockchain. Orca as well as other DEX exchanges (Uniswap, Quickswap, Raydium, Trader Joe,…). However, the products developed by Orca also have many differences compared to other AMMs on the market.
So what’s different about Orca? Let’s find out with Weakhand.
What is Orca?
Orca is an AMM on the Solana blockchain, Orca uses the AMM automatic market making model like Uniswap and other DEXs, Orca provides users with fast, low-cost token exchange on the Solana blockchain.
Advantages of Orca
- Easy to use, user-friendly interface. Besides, Orca also supports many popular transaction wallets, such as: Pantom, SafePal, Trust, C98, ..
- Low cost, fast speed, low price slippage (only about 1%)
- Orca uses the Fair Price Indicator. Before a transaction is executed, the protocols check whether two conditions are met: the rate of the executed transaction is within 1% of the market rate listed on CoinGecko, and the slippage price is less than or equal to the user’s tolerance setting (default is 1%).
- Providing liquidity: Users participate in providing liquidity by sending token pairs through the Solana network to facilitate trading and receive LP tokens.
The Orca Difference
Orca regularly improves and upgrades to serve user needs, taking user experience as the center of transactions. Orca products include:
- Swap: Orca provides users with token trading on the Solana blockchain with fast speed, very cheap fees, and low price slippage (only about 1%).
- Whirlpool (Centralized liquidity): Using Whirlpools, users can concentrate their liquidity around certain price ranges. This will benefit all Orca users: liquidity providers will earn higher profits and traders will be able to trade at lower costs, thus reducing slippage when users trade on Orca.
- Liquidity Pool: Orca allows users to participate in providing liquidity into asset pools to facilitate transactions and receive LP tokens.
- Orcanauts: Whale NFT Collection, Orcanauts owners have many perks in the Orca ecosystem.
- Collectibles: These are special, limited release NFT tokens, Collectibles tokens awarded to users when they complete certain tasks, these tokens have no exchange value, but can be traded and transferred concession.
Development Roadmap
- February 2021: Launch of AMM/DEX Orca exchange.
- August 2021: Orca governance token launched.
- October 2021: Deploy Whirlpool (centralized liquidity).List Orca tokens to centralized exchanges. Launching Orcanauts – Whale NFT Collection.
Core Team
Yutaro Mori: Co Founder
Yutaro used to be a software engineer with a passion for Cryptography and Finance. Besides, Yutaro was also a full-time crypto engineer at the UMA project before coming to Solana’s ecosystem with Orca.
Grace Kwan: Co Founder & Head of Development Department
Grace holds a Bachelor’s and Master’s degree in Computer Science from Stanford University. In addition, Grace worked as a software engineer at Coursera and as a designer at IDEO Tokyo.
There are also many core members with extensive experience in large companies and corporations
Investor
September 22, 2021: Orca successfully raised $18M in Series A round led by Polychain Capital, Placeholder and Three Arrows Capital, with participation from Jump Capital, DeFiance Capital, Coinbase Ventures, Collab Currency,…
Tokenomics
Information about Orca token (ORCA)
- Token name: Orca
- Code: ORCA
- Blockchain: Solana
- Contract: orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE
- Total supply: 100,000,000 ORCA
Token Allocation
- Community, Governance Incentives, Airdrop: 66.1%.
- Team: 20%.
- Series A: 9.6%.
- Advisory: 4.3%
Token Release
- 5.25% of total supply, previously provided to early traders and liquidity providers.
- Team: Token allocation 3-year and 1-year schedule.
- Series A Investors: vesting schedules are 3 years and 1 year.
Token Use Case
Orca token is a governance token (Governance): Use ORCA token to vote and pass proposals.
Exchanges
ORCA tokens are traded on exchanges: MEXC, Coinbase, Gate, …
Orca Project Information Channel
- Website: https://www.orca.so/
- Twitter: https://twitter.com/orca_so
- Reddit: https://reddit.com/r/orca_so
- Medium: http://orca-so.medium.com/
- Discord:
Conclude
Orca an AMM/DEX is considered very successful on the Solana blockchain. Orca provides users with a friendly, easy-to-use interface, fast transaction speed, and cheap fees. But Orca seems to just stop at a regular AMM/DEX without many other features, the new ORCA token only has an administrative role.
So through the above article, everyone can understand what Orca is? However, with the fluctuations of the Solana ecosystem, we still need to observe Orca more in the future until the Solana ecosystem stabilizes again.