Orion Money.

The Cross-chain Stablecoin Bank

20% Yield on your stablecoin savings. Not just for Terra-natives, but also for the Ethereum dwellers. Orion.money tackles the problem of volatile low-interest rates

With the Anchor protocol, the Terra ecosystem redefined the monetary system. 20% stable yield on UST stablecoin — a Dollar backed algorithmic stablecoin, was a gamechanger in DeFi. However, the total UST circulating made only ~2% of the total stable-coin market. Moreover, the complexity of understanding the algorithmic stablecoin, and the Terra ecosystem meant, most of the stable coin circulation was still occurring in the Ethereum mainnet with the likes of AAVE and Compound leading with their interest-rate model based on demand and supply. This demand and supply were volatile and depends on the market sentiment. A volatile APR on a depreciating asset was a thorn in Ethereum DeFi.

Orion tackles this problem by acting as a bridge between the two ecosystems and abstracting the complexities from the end-user.

Orion.money’s flagship product is the Orion Saver a cross-chain stablecoin savings protocol, leveraging the stable yield from Anchor.

How does it work?

Orion saver is currently active only on Ethereum for ERC-20 stable coins. The Orion Saver protocol allows the deposit of these ERC-20 tokens and earns a yield on top.

Orion does this by converting your ERC-20 token into Terra US Dollar $UST, which is then deposited in the Anchor protocol. The battle-tested Anchor Protocol consistently generates around19~20% yield, which is then reflected on your Orion savings account.

Currently, the conversion of ERC-20 to UST takes place using the respective curve.fi pools. Once converted, these are deposited into the EthAnchor contract which then earns a yield.

EthAnchor provides a gateway for Ethereum users to interact with Anchor using wrapped TerraUSD (UST) — a wrapped ERC20 UST token on the Ethereum blockchain.Users can deposit wrapped UST to their EthAnchor Account Contract to receive wrapped Anchor UST (aUST), an ERC20 aUST token on Ethereum. By holding on to wrapped aUST, users accrue the interest generated on their wrapped UST deposits.

This means the current APY is slightly lower than the Terra-native APY accounting for gas costs on Ethereum.

However, Orion has a plan for mitigating this problem by introducing Inter-chain liquidity, i.e Liquidity pools on both Ethereum and Terra to allow seamless swapping between the chains, and batch processing of transactions. These gas-optimizing solutions will bring the APY closer to the Anchor’s native yield.

Let me EARN !!!

Lets see how simple Orion makes it for an end-user to earn 20%APY. It always starts with the UI

Go to app.orion.money

https://app.orion.money/

1. This is where your total savings deposit is shown
2. This is the list of assets that are can be deposited in the saving account. Moreover, the current APY factoring in gas fees and your current deposits can be seen here
3. Your recent interactions with the Orion Saver protocol can be seen here
4. Do you want to Deposit or Withdraw your assets, there are the buttons
5. In the future, Orion will release an insurance protocol so users can insure their savings against possible de-pegging and smart contract exploits.

In order to make a deposit :

1. Click the Deposit button highlighted near [4], (top-right)

2. Choose the asset you want to deposit

3. Enter the amount and click Deposit. Then sign the transaction in your wallet.

Congrats, you are earning 20% APY on your stable coins

Note: Initially, the stable coin yields are slightly less than the the expected 20% owing to gas and protocol cost, but will be later optimised as mentioned above to reduce this disparity

$ORION and tokenomics

As with most DeFi protocols, the Orion team has decided to tokenize revenue to further incentivize depositors and stakeholders in the protocol. One billion tokens will exist in total and will be distributed to Stakeholders, the community, developers, and its users.

$ORION can be staked in the protocol, and earn protocol rewards by earning a share of the protocol revenue. Stakers also get benefits in the form of preference in Orion.money’s future products. Moreover a certain percent of validator commission from Orion’s own Terra node will be distributed to Orion stakers.

In the long run, the protocol will be entirely run by the community as a DAO, with the governance being tokenized as $ORION tokens.

Airdrops of $ORION token will be distributed to all$LUNA stakers and a special drop will be done to stakers to Orion validator.

For more in-depth information check :

Orion Money Litepaper Release