Review Orca ($Orca) – An AMM in the Solana ecosystem

Solana is quite an ecosystem of interest to many blockchain projects due to its cost-effectiveness and speed. The projects built on Solana have now reached hundreds and are still actively blooming. Orca is an AMM built on Solana with a user-centric goal that has received a lot of response from the community. So what is Orca? Let’s go find out below this article.

Concept Project – What is Orca?

Orca is the easiest way to exchange cryptocurrency on the Solana blockchain. On Orca exchange, you can exchange tokens with minimal transaction fees and lower latency than any DEX on Ethereum, to get a fair price. 

Additionally, working on a common purpose for the large Solana platform, Orca not only supports native tokens, stablecoins, etc. in the Solana ecosystem but also cares about user experience, efficiency and optimization in terms of user experience.

Outstanding Features

What is the project trying to achieve?

Orca wishes that users will use and trust Orca as a reputable exchange with low fees and the most optimal price. Liquidity providers can make a profit after deducting impermanent losses.

What are unique selling points?

Orca’s biggest advantage is its speed and transaction fees:

• Optimizing transaction costs, exchanging tokens on Orca have cheaper fees than any DEX on Ethereum.
• Low slippage (approximately 1%).
• Provide liquidity to Orca to receive transaction fees.
• As a key AMM DEX of the whole Solana ecosystem.

Orca has features like:

• Swap: Orca offers a user-friendly interface that takes full advantage of Solana’s fast processing at near-zero cost.
• Liquidity: Orca offers 19 pairs of tokens, users can provide liquidity and for profit. This profit is deducted from the token exchange fee.
• Collectibles: A repository of NTFs tokens, unlike regular tokens, tokens are issued and created the same, NFTs tokens are different tokens on a contract and are limited in number.

RoadMap

• August 9, 2021: Retroactive Airdrop.
• Aug 9, 2021 – Aug 10, 2021: Launch of Market-making on Serum to set prices for ORCA in the pool.
• Aug 11, 2021: Deployed Aquafarm pools (Liquidity Pools can now change liquidity and make new deposits).
• August 12, 2021: Issuing ORCA tokens from Aquafarms.
• Updating…

Technical Data

Token Allocation

• Community, Liquidity Incentives, Airdrop: 66.1%.
• Team: 20%.
• Fundraising: 13%.
• Advisors: 0.9%.

Token Use case

ORCA is a governance token, playing a role in liquidity pools on the Orca exchange.

• Liquidity: providers earn a portion of fees in exchange for the opportunity cost of providing capital or impermanent loss.
• Governance: Currently, 0.3% of all trades on product pools go to liquidity providers. Once the governance token is issued, the distribution will be adjusted as follows:

• 0.25% for Liquidity Providers.
• 0.04% for Orca Treasury.
• 0.01% for Impact Fund.

Token Sale

Updating…

How to own the token?

Updating…

Markets and Community

Market Supply

• Token Name: Orca Token.
• Ticker: ORCA.
• Blockchain: Solana.
• Token Standard: SPL.
• Contract: orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE
• Token Type: Utility, Governance.
• Total Supply: 100,000,000 ORCA.
• Circulating Supply: 5,025,000 ORCA.

Community 

14.25% of the total supply is tentatively allocated to incentivizing community engagement. These tokens may be used for development, marketing, or growth into new regions, among other use cases.

The ORCA governance token is designed to support the long-term health of the Orca protocol. If changes are made to our tokenomics, we will update this page with an explanation of the changes and why they were made.

Backers

Team/ Founders

Orca is built and funded by Solana Foundation under the direction of the Founder & CEO of Solana.

The project team consists of software engineers with extensive experience in blockchain protocols, including:

• Yutaro Mori: Co-founder of Orca, a software engineer with extensive training in finance, and a Smart Contract implementer at UMA.
• Grace Kwan (nickname is Ori): Co-founder – Head of Product of Orca.
• Michael Hwang (nickname is tmoc): Orca’s first employee with many years of experience in small startups and “giants” like Google.
• Milan Patel (nicknamed Milan): Orca’s leader, graduated with a degree in International Economics from Georgetown, with experience working for major banks at McKinsey.

Partner

Orca is currently collaborating with projects in the ecosystem mainly to support a more complete construction: Serum, Raydium, Map. me, Oxy …

Investor

Current Orca investment funds include Three Arrows Capital, Polychain, Coinbase Ventures, Jump Capital, Sino Global Capital, DeFiance Capital, Zee Prime, Collab + Currency, and Solana Capital.

Alternative project

Who are the competitors?

Some AMM DEXs on other ecosystems are also growing:

• Ethereum: Uniswap, Sushiswap,…
• Binance Smart Chain: PancakeSwap…

Conclusion and analysis

Above is the basic information about the Orca project and the ORCA token. Orca’s deal also shows that decentralized exchanges in general and the Solana ecosystem, in particular, have been receiving a lot of attention from investment funds. Especially in the context of the booming DeFi market right now.

Find more information about Orca

Website: https://www.orca.so/

Telegram: https://t.co/YKUzwPPFzR?amp=1

Twitter: https://twitter.com/orca_so

Elise

Coincu Research