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Orca

VOL. (24hr)
$8,719,599$8.72M
9.25%
Rank
132
Impact
4.46
Transp. Rating
D gradeD grade
Markets
Fiat
0

Orca Trading Volume

(24 hour)
  • 1D
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Orca Daily Performance

Orca is a cryptoasset exchange located in . Their volume over the last 24 hours is $8.72M. The exchange is rated “D” which means “Poor.” They are a crypto-only exchange.

Data Summary
Impact Score
4.46
Transparency Rating
D gradeD grade(Poor)
Total Volume$8.72M
Volume Change$737,959
(9.25%)
Markets
Fiat CurrenciesNone
Coverage TypeTicker
1st Trade
1st 1D CandleSep '21
1st Orderbook
UpdatedRecently

Orca Statistics

Volume$8.72M$8,719,599
Volume (Δ)
$737,959 (9.25%)$737,959 (9.25%)
Quote Dominance
Fiat CurrenciesNone
Markets
Market Volume
Crypto Quote Dominance
1
2
3
4
5
Fiat Quote Dominance
1
2
3
4
5
Overall Quote Dominance
1
2
3
4
5
Volume Gainers/Losers
1
2
3
4
5
Volume (Δ)
1
2
3
4
5

About Orca

Orca is an open-source exchange and a “human-centered” AMM (Automated Market Maker), as the platform describes itself. It is based on a decentralized protocol built on top of Solana, a popular proof-of-stake blockchain. In March 2020, the company released its own mainnet.

The project was launched in February 2021 without external funding. Its rapid growth started after the platform released its native token ORCA. In September 2021, the TVL (Total Value Locked) of the protocol exceeded 300 million USD, while the recorded trade volume exceeded 700 million USD. In September 2022, Orca closed an 18 million USD series A round that was led by several leading venture capitalists such as Polychain, Three Arrows Capital, Placeholder, and Coinbase Ventures.

Orca is one of the first dApps created on the Solana blockchain. The founders of the platform selected this solution since they believe in its top-tier team of engineers and their technical experience. With the help of Solana’s unique technology, Orca enables fast permissionless trading. Solana offers cheap and ultra-fast transactions, so Orca’s users don’t have to face challenges inherent to other DeFi solutions built on Ethereum.

Also, it is worth mentioning that the project donates to the Orca Impact Fund. This initiative allows ORCA token holders to vote for Ocean Conservancy and the Ocean Foundation, one of two non-profit organizations that work to protect oceans and fight climate change.

Orca’s mission

Orca strives to create a user-friendly cryptocurrency exchange. One of its missions is to show all users how simple it may be to use cryptocurrencies. Thus, the team has prepared the installment “Orca for Everyone” which gives basic information to users who learn how to set up a wallet and buy cryptocurrencies with fiat in order to explore the DeFi world later on. Also, Orca’s team strives to develop easy and effective financial tools for its customers, thus bringing DeFi to the masses. Besides, Orca works hard to allow more capital-efficient trades with lower slippage.

The Orca platform

Orca has a quality blockchain foundation to offer more incentives to the members of the ecosystem to drive adoption. Also, its customers have the possibility to provide liquidity and earn revenues on trading fees due to the sleek performance of the Solana blockchain. It is worth noting that Solana offers pretty good indices such as 60,000 tps and 400ms block times, while the transaction fee is approximately 0.01 USD.

The platform employs the Orca smart contract that was designed for purchasing and selling crypto. Trading is possible on the platform after users deposit cryptocurrency into the Orca smart contract. Orca allows users to see the balance of tokens that they store on Orca on a special token panel available right in the Orca interface. Also, the members of the ecosystem can swap tokens, using Orca’s own liquidity pool. At this, liquidity providers (LPs) may offer their liquidity to pools to earn a portion of trading fees.

The platform develops the community through communication with its members on Discord and Telegram channels. The co-founders of the platform also regularly conduct AMA sessions, where they explain their mission, goals, and future plans of the ecosystem to attract more followers and maintain the loyalty of its current followers.

Orca’s products

The main innovations introduced by the Orca team include Fair Price Indicator and a Magic Bar that contribute to the user experience. These features enable users to swap tokens with just a few clicks. In addition, the members of the community can earn with the help of a yield farming program Aquafarms available on the platform. Aquafarms are formed from a subgroup of liquidity pools. LPs in Orca pools get both trading fees and native tokens of the platform.

Orca’s Whirlpools are designed similarly to a traditional AMM liquidity model with only one exception. Liquidity providers don’t have to deliver liquidity across the entire price range but can specify the price range that suits them. With price moving outside the designated range, they can withdraw or reposition their liquidity.

In the opinion of the platform’s founders, concentrated liquidity is the future trend. They assure that all AMMs will adopt it in the upcoming years. Therefore, it is critical for Orca to capture its market share from the very start. Consequently, at the time of writing, this is a key direction of the platform’s development.

However, this is not the only way for the platform to go. The ecosystem continues to increase the number of its products duly following the market trends. Thus, in November 2021, Orca announced the launch of Orcanaut NFTs. It has become the first Solana-based DeFi project that started to explore non-fungible tokens.

In May 2022, the platform launched the Whirlpools Builders Program that urges developers to create their apps on Orca’s Whirlpools, new concentrated liquidity pools, and get a grant of up to $200,000 in ORCA. Applicants needed to review the Builders Portal and submit their applications by the end of June 30, 2022. The program was launched to achieve several goals. First of all, the team tried to increase the number of users who could provide concentrated liquidity via Whirlpools. Secondly, the program is aimed at improving yields for liquidity providers. When grants were provided, the priority was given to teams building their projects full-time.

Orca fees

Orca is known for lightning-fast swaps that are possible thanks to the Solana blockchain. The trading fee which makes up 0.3% per trade is deposited automatically into liquidity pools. The platform employs the utility token ORCA used for trading fees and liquidity pools on Aquafarms.

Orca team

Initially, the team included only 2 co-founders, Grace (Ori) Kwan and Yutaro Mori. With time, the number of contributors reached 8. These are highly-qualified experts with professional backgrounds at Google, Coursera, and Amazon and spread across three continents.

Yutaro is a leading engineer who works with a team of 5 experts. Previously, Yutaro was heavily involved with Ethereum, developing a layer-1 solution for the network. Grace Kwan, a graduate of Stanford University, previously worked as a front-end engineer at Coursera.

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