Another week of uncertainty continues as Bitcoin faces extreme volatility. I thought this was supposed to be Moonvemebr! Well, that’s kind of Bitcoins thing. To almost systematically shake out weak hands before every major price run. I have a creeping suspicion that this time is no different. While we had a few gainers this week with Ethereum Naming Service, Gala, Terra, The Sandbox, and Basic Attention Token. It shouldn’t take away from anything you’ve currently positioned yourself in. The same fundamentals existed before any price depreciation and this was a great Black Friday special to load up our bags. If you happen to be one of those individuals loading up those Solana bags. Then chances are high you did so using the focus of this week’s topic, Orca Protocol.
Introduction
Orca is quickly becoming one of the easiest places to exchange tokens on the Solana blockchain. On Orca you can exchange tokens with the cheapest middleman fees, quickly, and confidently due to Orca’s built-in Fair Price Indicator system. Orca decided to build its platform around Solana via their Foundation Grant and has done a phenomenal job of capturing over $1 Billion TVL on the platform in just a few months. With only one other viable option for Solana, Orca has strived to innovate new and improved ways to capture Liquidity Providers and enable better yield farming options than its predecessor Raydium. Making Orca a one-stop shop for newcomers and veterans to the Solana ecosystem. Through Orca’s user-friendly UI you can swap tokens across the entire Solana ecosystem, provide liquidity via Aquafarms, and Deposit LP tokens into the Double-Dip pool to earn extra ORCA tokens. Orca prides itself on designing for people, not programs. Since Orca was nothing more than sketches on printer paper, they’ve had an ongoing feedback loop with real DeFi users. Through this continued process they’ve been able to identify and highlight multiple ways that Orca can provide a simpler, more human-centered experience for traders on Solana.
In currently available DEX options users face a few pain points that can be difficult to overcome if they’re in the learning phase. One of those pain points is knowing whether the pool you’re trading across is offering a fair price. Choosing between blindly trusting the pool to have fair pricing or the time-consuming process of vetting the trackers and comparing them to other exchanges isn’t really a choice at all. With Orca, they’ve solved that problem with the introduction of their Fair Price Indicator. This indicator automatically verifies for every trade that the market value is within 1% of the listed market rate via Coingecko. Combined with your set slippage tolerance, defaulted to 1%. Orca will indicate the trade with a green checkmark above the execution button. If you see the big green checkmark above, you can confidently hit Exchange. If not, Orca will display a “Rate Warning” or “Slippage Warning” so you can make an informed decision on whether you should complete the swap. If you have ERC-20 tokens that you’d like to trade on Orca, you can convert them to a Serum-wrapped SPL equal within the Sollet UI by connecting your MetaMask. Another new and innovative feature of Orca that no one in DeFi has thought to add until now is a simple Token Tracker built into the UI. While this may seem…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
