Orion Terminal, the liquidity aggregation platform developed by Orion Protocol, has launched. Traders can now connect to the multi-exchange portal and use it to execute orders across numerous CEX and DEXs. Orion Protocol is confident that its Terminal will usher in a new era of trading, with deeper liquidity, lower spreads and greater privacy than existing solutions. Now, users can put it to the test and see how the long-awaited platform shapes up.
One Terminal to Trade Them All
With more than 10,000 crypto assets available to trade within Orion Terminal, the platform can’t be accused of leaving users short of options. Rather than merely provide a smorgasbord of choice, however, the Terminal has been designed to simplify the trading process, through a focus on UI. A clean dashboard keeps clutter to a minimum, while news and analytics are built in so that traders don’t need to leave their screen to determine which way the market is moving.
Orion Protocol CEO Alexey Koloskov explains:
"Fragmentation, centralization, and liquidity are the biggest issues in the space, and the largest barriers to the widespread adoption of the industry,” “Having spent several years developing the protocol from inception, I'm incredibly excited to take our first step towards truly revolutionizing trading - connecting the end user to the entire crypto market in a totally decentralized way."
First Trading, Then NFTs
The first version of Orion Terminal to be launched, known as Phase One, has focused on refining the trading experience, and ensuring that the trading engine and exchange APIs are optimized. Once stable and extensively battle-tested, however, the Terminal will be upgraded to add a slew of new features. Lending and margin trading are top of Orion’s to-do list, but there are also advanced features in the works such as leveraged ETFs, NFTs and staking.
Given the growth in these crypto verticals, particularly within the DeFi sector, demand should be strong. Tokenized stocks and leveraged crypto assets have captured the interest of DeFi traders, who wish to access more exotic asset types within a decentralized environment.
One of the most compelling features of Orion Terminal is that it doesn’t require users to create an account with any of the exchanges that are integrated. The Terminal works more like a DEX, with users maintaining control of their funds by maintaining the private key to their wallet. Moreover, after buying an asset using Orion Terminal, traders can withdraw the coins immediately to a private wallet if desired.
From B2C to B2B
Orion Terminal is intended for consumers and pro traders, and was extensively tested by a group of brokers prior to the December 15 mainnet deployment. Future products in the Orion Protocol roadmap will be targeted at enterprise users, however, and professional trading firms. These include Orion Collateral Optimization and Orion Enterprise Trade Widget, bringing the tools of traditional markets to crypto.
The order matching engine that’s built into Orion Terminal will be at the heart of subsequent Orion products. It guarantees the best price on each trade and the lowest possible fees, placing it ahead of DEX and CEX aggregators, which can only serve one portion of the market. Orion believes its Terminal can offer the best of both worlds: the liquidity and fast order execution of CEXs coupled with the trustless trading of DEXs and AMMs.