Sirlibz
Orion protocol has announced their partnership with Bonded Finance so that they can build yield-generation opportunities and the efficient liquidation of digital assets.
Both projects hope to solve the issue of projects competing over liquidity across all exchanges. It says that crypto assets today are distributed over 200+ exchanges and all projects are competing for a finite amount of liquidity. They plan to solve this by developing a decentralized platform where all liquidity from the entire crypto market will be aggregated into one platform. They would aggregate the order book, depth and price price discovery from all centralized and decentralized digital asset markets.
The product is called Orion Terminal, a decentralized gateway to the entire digital asset market.
Bonded Finance plans on developing an algorithm that will help aggregate, derisk and unlock 50 million in dormant value distributed amongst untapped digital assets. They would also allow altcoin projects that are qualified to borrow against their assets, or pool them and start earning.
The collaboration allows for locked and staked ORN tokens to be made available for yield generation via the Bonded Finance Smart Contracts. Holders of ORN will have access to Ionic, Bondeds lending / borrowing product. This access will allow them to loan and borrow ORN, Access capital resources, earn as they hold and to also earn from the liquidity incentives.
Alexey Koloskov, CEO + Co-Founder of Orion Protocol states “With a shared mission of bringing greater liquidity, accessibility, and value to open finance, we’re proud to be partnering with Bonded Finance. This will enable ORN holders to further monetize their assets by unlocking even deeper yield generation opportunities, earn liquidity incentives, and loan and borrow ORN – all while furthering ORN’s utility within Bonded’s growing ecosystem.”
Orion protocol would help Bonded Finance by providing them with their protocol’s liquidity API which would allow for streamlined Liquidation of assets available on the Bonded platform thereby allowing it to perform a wide market sweep across all exchanges in the market to efficiently handle potential liquidations. The provision of the API by Orion protocol would allow Bonded finance to transact large quantities of assets strategically without risks associated with it.
Paul Mak, CEO of Bonded Finance, states, “To have a single-source liquidity provider amidst this fragmentation is a small miracle. As we move forward, Orion’s solution will allow us to list more assets and provide smaller projects with needed support. It’s a win for the space.”
Orion Protocol
It is built on the most advanced liquidity aggregator ever developed, Orion Protocol aggregates the liquidity of every single crypto exchange into one platform: providing a decentralized gateway to the entire digital asset market. In doing so, Orion is building a protocol on which to bridge the worlds of crypto, traditional finance, and real world assets.
Bonded Finance
The Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven, financial instruments that push the bounds of open finance. Bonding is an algorithmic model that aims to unlock, aggregate and de-risk ~50 billion in dormant value distributed amongst untapped digital assets by allowing supporters of qualifying altcoin projects the opportunity to borrow against these assets or pool them and start earning.
