Orion Protocol, the DeFi platform building B2B and B2C solutions on the world’s most advanced liquidity aggregator, is pleased to announce an upcoming integration and exclusive partnership with market-leading oracle network Chainlink. The integration will see all of Chainlink’s oracles serve as a reference price for issuing loans and triggering on-chain liquidations in Orion’s Decentralized Brokerage.
Integrating Chainlink’s secure, decentralized price feeds is a vital step in bringing trustless settlement to Orion Protocol, particularly by ensuring that all broker services are fully collateralized by ORN. To further this endeavor, Orion will use and support an upcoming Chainlink-powered ORN/ETH price oracle and integrate all available price oracles.
Orion Protocol, the Singular Gateway to Crypto
Orion Protocol is a decentralized liquidity aggregator, offering the first singular non-custodial gateway to all the liquidity available in the crypto market. As per the partnership, Orion will leverage Chainlink’s industry-leading price feeds to help manage its Decentralized Brokerage. Settlement within the Brokerage will be implemented using Chainlink price oracles; the platform’s smart contract logic will rely on Chainlink’s price feed to give brokers temporary no-cost loans for a clearing period, until brokers withdraw necessary funds from exchanges.
"The ORN token helps to maintain an active network of secure and reliable brokers in the DeFi ecosystem, providing strong crypto-economic guarantees to back their services," said Orion Protocol CEO Alexey Koloskov.
"By integrating Chainlink’s price oracles for accurate and transparent reference prices, we can provide unrivaled liquidity to traders, while maintaining built-in protections that shield the protocol against unpredictable market volatility. Furthermore, we look forward to fostering a mutually beneficial partnership, providing Chainlink with rich trading data to strengthen its price oracles."
In addition to using Chainlink oracles, Orion Protocol will provide its new partner with data from its advanced liquidity aggregator, bolstering Chainlink’s price oracle services and making Orion Protocol’s trading data available to other DeFi dApps via the Chainlink Network.
The decentralized structure and real-time price feeds from the market’s centralized exchanges, decentralized exchanges, and swap pools will provide Chainlink with rich data to enhance its price oracles – adding reliability and accuracy to its ecosystem.
By aggregating every exchange order book and trading pair in the market, Orion Terminal will consistently provide high-quality price feeds for numerous trading markets, further strengthening Chainlink’s product offering and decentralizing its price feeds options. The companies look forward to exploring further integration opportunities.
"We are excited to provide critical oracle functionality that secures Orion Protocol’s Decentralized Brokerage, ultimately allowing brokers to get access to short-term capital to fund operations while ensuring the protocol as a whole stays fully collateralized," said Dan Kochis, director of business development at Chainlink. "By doing so, Orion Protocol is able to combine the liquidity of DeFi with the technology’s permissionlessness and trustlessness."