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Cardano blockchain gets first liquidity aggregator in Orion Protocol



Source: Pixabay

IOHK is in the news today after it announced a partnership with Orion Protocol, with the latter becoming the first liquidity aggregator for the Cardano blockchain. The official announcement from Orion read,

“Orion Protocol partners with @InputOutputHK to become the first liquidity aggregator to the @Cardano blockchain. Meanwhile, the pair will work together to enable the scalability and sustainability of the #DeFi and #NFT spaces.”

The aforementioned announcement came on the heels of the recent integration with Huobi ECO Chain, Binance Smart Chain, Avalanche, and Elrond. According to reports, there will be more integrations ahead.

Orion Protocol is a decentralized gateway to the crypto-market, one that allows users decentralized access to liquidity from centralized exchanges like Binance, KuCoin, and BitMax and decentralized exchanges like Uniswap, without an account.

The announcement added,

“Orion Protocol will provide a decentralized gateway to the entire digital asset market – aggregating liquidity across decentralized and centralized crypto exchanges and swap platforms in one, decentralized platform.”

Orion will benefit from this integration with the Cardano blockchain as it expected to play a major role in enabling far greater interoperability, scalability, and performance of the protocol, with each solution from its flagship product Orion Terminal to Orion NFT aggregator. The Orion Terminal went live on 31 March with Ethereum blockchain and Binance Smart Chain’s [BSC] support.

The CEO and Co-founder of Orion Protocol, Alexey Koloskov, welcomed the announcement by stating,

“It’s a huge honor to partner with IOHK to become the first liquidity aggregator to the Cardano blockchain. We admire and share their focus on building a scalable, and interoperable DeFi ecosystem, and we look forward to working together to achieve a sustainable future of the industry.”

Meanwhile, the Cardano ecosystem continues to expand and reward its participants through the Project Catalyst fund. There are 20 projects that are going to receive a total of $500,000 in ADA, with Liqwid Finance project receiving the highest votes. The project is developing a borrowing and lending protocol on Cardano too.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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