Orion Protocol Launches Its Liquidity Mining Program on Uniswap

Wednesday 21 October 2020, 12:19 AM AEST - 1 month ago

Decentralized liquidity aggregator, brokerage, and crypto lending platform Orion Protocol have launched its liquidity mining program on Uniswaps AMM. It will distribute weekly rewards to the providers of liquidity for the ORN/ETH pool.

Rewarding Uniswap Liquidity Providers with ORN

Innovative Defi platform Orion Protocol has recently made liquidity mining available to users on the most popular DEX, Uniswap V2. Every week, 30,000 of the projects native ORN tokens will be distributed among users who deposit funds to the ORN/ETH liquidity pool. The reward allocation will be proportional to the participants contributions to the pool.

Uniswap liquidity pools (LPs) are Ethereum-based smart contracts functioning as automatic market makers. Anyone can create a Uniswap pool for any pair of ERC20 tokens, or an ERC20 token and ETH, by depositing equal amounts of the two currencies via a range of tools, including the popular MetaMask wallet. Users who wish to buy one of the currencies from the pool need to submit an amount of the other automatically calculated by the pools smart contract. Users can also provide liquidity to an already existing pool and are rewarded for this with a portion of the trading fees.

Both the creators of the pool and the subsequent liquidity providers receive the pools tokens that they can later burn to withdraw their share of the pool. Defi platforms like Orion Protocol further allow users to stake their LP tokens to farm their native tokens as protocol rewards.

The ORN token payouts in Orions liquidity mining program are determined programmatically by the dedicated smart contract, and they will be higher for liquidity providers who keep the funds within the pool longer. The APR at the time of writing is around 186%. Users wishing to participate in the program can find detailed instructions here.

Orion Working to Aggregate the Worlds Crypto Liquidity

Orion Protocols ambition is to pool together the liquidity across all centralized and decentralized exchanges and swapping pools on a single platform. Users will thus be able to access any of the expected 10,000 trading ...

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