What Is Orion Protocol (ORN) Coin: Everything You Need To Know About It

Orion Protocol (ORN) is an open-source decentralized financial project, primarily aimed at aggregating liquidity from different liquidity providers (i.e., exchanges) , thus allowing users to trade their crypto assets at the most favorable prices.

In this article, we will take a detailed look at Orion Protocol and its cryptocurrency, $ORN,  analyzing whether it is a good investment in 2024.

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Table of Contents

What is Orion Protocol?

Who are the Founders of Orion Protocol?

How does Orion Protocol Work?

What is the ORN Token?

ORN Tokenomics

Orion Protocol (ORN) Staking

Orion Protocol (ORN) Price History

Orion Protocol (ORN) Price Prediction

Is Orion Protocol (ORN) a Good Investment in 2024?

How to Buy the ORN Token?

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What is Orion Protocol?

Orion Protocol (ORN) is an open-source decentralized blockchain platform that acts as a liquidity aggregator for centralized and decentralized exchanges. Orion Protocol was created with the goal of providing cryptocurrency users and traders with the best rates for trading tokens and coins across multiple exchange markets and platforms.

Essentially, Orion is designed to help users get the best return from their assets while reducing the risks associated with participating in multiple exchanges (centralized and decentralized).

One of the many products of Orion Protocol is the Orion Terminal, which on the surface looks like any other trading platform. However, having just one account on the Orion Terminal grants you access to the order books of all the listed centralised and decentralised exchanges.

Interestingly, the platform does not require users to perform a KYC registration. Additionally, unlike most exchanges, Orion Terminal is non-custodial. Assets that you buy will be sent directly to your wallet under your own private key.

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Who are the Founders of Orion Protocol?

Orion Protocol was founded and developed by Alexey Koloskov, who is also the CEO of the protocol, and his team. The CSO of Orion Protocol, Yanush Ali, claims that Orion Protocol is what the cryptocurrency industry needs to resolve some of its biggest issues.

The Orion Protocol team, in addition to the CEO and COO, has a large Marketing Department and a large back-end and front-end development team.

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How does Orion Protocol Work?

Orion Protocol forms an entire ecosystem for traders by unifying the whole crypto market in a single API.  Orion offers a full suite of features, tools, and products for traders and crypto users, which includes a portfolio management application, trading terminals, enterprise trading, liquidity boost, app store, and DEX launcher.

For example, when an order is placed in a single API call, the Orion Protocol splits and sends this action to multiple exchanges at once. This allows them to find lower bids and ask spreads, and ultimately, the best exchange prices for users.

In addition, Orion seeks to address another risk of centralized exchanges: hacking. Orion’s unmanaged solution attempts to solve this problem by giving users the freedom to manage their assets on the platform.

Plus, with Orion’s multi-currency wallet, managing your portfolio becomes even easier. Because you only need one API to find them easily.

Finally, as Orion is open source, external developers can join the protocol and create their own decentralized applications on it.

What is the ORN Token?

ORN is the native utility token of Orion Protocol. In addition to playing a vital role in platform governance through the Delegated Proof of Broker (DPoB) consensus mechanism, the token is also used in various products of the protocol:

• Orion Terminal: Users receive a discount on fees when paying with ORN and earn terminal transaction fees and interest by pledging ORN tokens.
• Decentralized brokerage: Brokers need to pledge ORN in order to be selected to trade. Non-brokers can pledge ORN to vote for the broker of their choice.
• Orion Enterprise: All licensing fees incurred will be used to purchase ORN from the market and removed from the total supply.

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ORN Tokenomics

With a total supply of 100 million tokens, ORN’s initial token distribution sets as below:

• Consultants/partners: 6%
• Marketing: 13%
• Team: 12%
• Token sales: 45%
• The Orion Foundation: 24%

The Orion Protocol token is supply-capped, which means that its supply is limited and no new tokens should be minted beyond the token generation event. The finite supply acts as an anti-inflation mechanism, meaning that ORN could be a good store of value in the long term. There are also mechanisms in place to regularly remove tokens from the circulating supply and burn them, such as those used for licensing fees and refunds, making the token deflationary.

Orion Protocol (ORN) Staking

Currently, Orion has a multi-exchange pre-staking program, which, according to them, offers an annual interest rate of 39%. It was so profitable that 50% of ORN’s circulating supply was staked. After Mainnet launched in the fourth quarter of 2020, Orion used the Delegated Proof of Broker (DPoB) model.

The Delegated Proof of Broker (DPoB) is a variant of the Proof of Stake (PoS) mechanism. DPoB is comprised of two core components: Brokers and Non-Broker Stakers. Brokers with exchange accounts run Orion Broker Software, automatically executing trades routed from Orion’s liquidity aggregator. Brokers are chosen to execute trades based on how much ORN, Orion’s native token, they stake. Non-Broker Stakers stake ORN to ‘vote’ for their choice of Broker based on the variable reward share offered.

According to the existing mechanism used by other exchanges, the DPoB model used to stake ORN is non-inflationary: the miner/staker’s benefits are usually calculated in the form of new tokens that affect the underlying asset over time.

Orion does not mint tokens for reward purposes. Instead, DPoB creators receive rewards generated through Orion’s 13 revenue streams. This in turn preserves the necessity and value of ORN tokens.

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Orion Protocol (ORN) Price History

The ICO for ORN Tokens was launched in July 2020. According to the earliest available price data for 2020, the ORN token fell to $0.53 on July 16 after its launch, and then the price soared, climbing to $6.41 on August 10, spiking 1,109% in less than a month.

After the rally, ORN prices began to retreat, falling nearly 46% for the year to $2.12.

ORN performed plain at the beginning of 2022, hitting $2.14 on January 12. Since then, a bullish rally began, with the ORN token value soaring more than 1,268% to an all-time high of $29.29 on March 22. The pullback brought the price down to $10.79 on April 24 and further to $3.72 on July 20, a drop of more than 87% from the peak.

ORN has been in a bearish position since the beginning of 2022, with its price remaining below $2 and even dipping to a new all-time low of $0.4642 in October 2023.

As the market recovered, the price of ORN coins recovered this year, reaching a new high of $2.77 on March 19.

As of writing the article on June 28, ORN Token is traded at $1.73116279, boasting a market cap of $59.113 million, and witnessing a hefty 24-hour trading volume of $5.766 million. ORN Token saw a 24-hour change of +5.53%, with minor fluctuations of +1.30 % in the past hour.

The following sets forth the ORN to USD Chart

Orion Chart

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Orion Protocol (ORN) Price Prediction

TradingBeast expects ORN to fall to $1.512711 by the end of 2024, while PricePrediction.net expects ORN to be around $0.4249. Other experts, such as those from WalletInvestor, are more positive about the future price of Orion Protocol and say its price in December will be as high as $2.841.

For Orion Protocol (ORN) price prediction for 2025, WalletInvestor says that by 2025, Orion Protocol’s investors expect the price to grow to $4.855, PricePrediction.net also predicts that the cryptocurrency price will rise to $3.382354. This seems like a good reason to consider Orion Protocol as an investment option.

When it comes to long-term price forecasts for 2030 on Orion Protocol (ORN), experts offer two diametrally opposed views. TradingBeast believes the price of Orion Protocol will increase further and eventually reach $1.801656 by the end of 2030. WalletInvestor’s price forecast for Orion Protocol echoes an uptrend to $11.48487. Despite this, the vision of PricePrediction.net is still less optimistic, predicting a fall to $0.9178.

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Is Orion Protocol (ORN) a Good Investment in 2024?

As a utility token, ORN will gain value as Orion Protocol scales up. The maximum supply of ORN is scheduled to be 100 million, of which only 29% is in circulation, and the rest would be deposited for staking (providing market liquidity) or stored in wallets for future use.

While Orion Protocol is not the first liquidity aggregator protocol, it is certainly the most complete and largest to date. This is an attractive prospect for both retail consumers and businesses to earn income through ORN token payments.

Since ORN tokens are not stablecoins, i.e. not pegged to real-world currencies, there is room for ORN to grow. The bigger the ecosystem (and likely to get bigger) and the more users and businesses using the Orion Protocol, the higher the demand for ORN will be.

However, the future price trend of Orion Protocol (ORN) is uncertain and speculative, with project updates, advances in blockchain technology, and market conditions contributing to its growth potential. Therefore, investors should do enough research and take into account current market conditions before making any investment decision regarding Orion Protocol (ORN).

How to Buy the ORN Token?

ORN USDT-margined perpetual futures contracts with a leverage of up to 20x are now available on BTCC platform. If you are interested in ORN token, you can sign up for BTCC to make a purchase.

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find ORN trading pair.

You can also directly click the button below to enter the ORN order page⇓

Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the ORN futures contract order is completed.

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