Orca Medium Blog Updates

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  • Orca Medium Blog Updates

     solbot updated 8 hours, 2 minutes ago 1 Member · 17 Posts
  • solhack

    Organizer
    April 18, 2021 at 3:21 pm

    Ongoing RSS updates from the Orca Medium Blog

  • Anonymous

    Member
    April 18, 2021 at 3:25 pm

    There’s a hot new token, and it’s all over your Twitter feed. You head to your favorite DEX to swap for it, only to be reminded of the current state of the world: making the trade would cost you twenty bucks in gas.

    If you were active in DeFi during the summer of 2020, you’re likely familiar with the situation I just described. We call it the gas ceiling: fees so high only whales can afford to swim in the space.

    Terrible puns aside, the crypto ecosystem is craving a long-term solution, and that solution is Solana. We believe that Solana’s sub-second finality, airtight security, and nearly-free transactions will break the gas ceiling. Not convinced? Today, we’re proud to announce the launch of Orca, the easiest, fastest, and most user-friendly AMM and aggregator on Solana. Come experience the magic of instant, nearly-free swaps — you might just change your mind.

    A human-centered DEX

    At Orca, we pride ourselves on designing for people, not programs. Since Orca was little more than sketches on printer paper, we’ve had an ongoing feedback loop with real DeFi users. From this, we’d like to highlight three ways that Orca seeks to provide a simpler, more human-centered experience for traders on Solana.

    1. Fair Price Indicator
    In our interviews with DeFi users, one of the biggest pain points we found is determining whether a given pool currently offers a fair price. Current DEXes often feel like a choice between two evils: Blind trust that the DEX offers market rates, or time-consuming comparison with trackers or other exchanges. With Orca, we’ve sought to solve that problem with the Fair Price Indicator.

    When you input a trade on Orca, we check whether both of the following conditions are true:

    1. The rate is within 1% of the listed market rate on CoinGecko
    2. Slippage is less than or equal to your tolerance setting (defaults to 1%)

    If so, you’ll see the big green check mark above, and you can confidently hit Exchange. If not, we’ll display a Rate Warning or Slippage Warning so you can make an informed decision on whether to trade.

    2. Aggregator
    Orca is not just an AMM, but also an aggregator. Each time you input a trade, we offer the best available rate from either Orca or Serum Swap’s liquidity pools. We plan to integrate other reputable AMMs as they are built, so you can feel confident that Orca always offers the best price.

    3. Token Balances
    In most AMMs on Ethereum, there’s no way to check your balances without having to open a browser extension. This feels like an obvious gap when it comes to UX, which is why we’ve added a Tokens panel directly into the Orca interface. There, you can see your balance for all tokens listed on Orca, including live updates when you make a trade or provide liquidity.

    Why we picked Solana

    Orca consists of a lean team of two: A software engineer with deep experience in blockchain protocols, and a software engineer/interaction designer who specializes in creating human-centered digital experiences.

    This combination of crypto expertise and a fresh pair of eyes gives us a unique perspective on the space. Long-term, our mission is to build blockchain apps that solve real problems for everyday people. But we’re also clear-eyed about the fact that the technology has a long way to go before widespread adoption is feasible. Transactions that cost $20 and take several minutes to confirm are simply not performant enough to compete with traditional financial solutions.

    For crypto to become relevant to a wider audience, it must scale massively while remaining credibly neutral — in other words, obviously and provably non-discriminatory. Solana has laid the foundations to enable that change. The networking stack and virtual machine have seen slow progress in recent years, especially relative to other domains like advanced cryptography. In successfully implementing Proof of History and parallel transaction processing, among other innovations, Solana has proven that these areas are ripe for optimization.

    The results speak for themselves. The Solana network boasts 400ms block times, 50,000 TPS, and $0.00001 average transaction fees, all without the complexity of side chains or sharding. This may sound too good to be true, but having built an application from the ground up, we can vouch that Solana’s performance does not detract from the other essential properties of a blockchain (censorship resistance and security). What’s more, the Solana engineering team is actively publishing open-source building blocks for app development. By using their token-swap program as a base for our smart contract, we were able to design, develop, and launch Orca in just four months, all with our lean team of two.

    That said, when it comes to an ecosystem’s success, technology alone is not sufficient. When we reached out to the Solana Foundation, we were equally impressed by the intelligence, strong values, and down-to-earth nature of their team. As such, we’re confident that Solana has all the ingredients to become a vibrant, scalable ecosystem. We’re pitching in by building a core piece of essential infrastructure: an easy-to-use, human-centered AMM.

    What’s on the horizon

    Now that we’re live, anyone outside of the U.S. can visit orca.so and start trading SOL, BTC, ETH, USDC, USDT, and RAY. However, the journey has just begun. Here are some of the features on the way:

    • Integration of Wormhole, a cross-chain bridge between Ethereum ↔ Solana
    • Collectible, valueless tokens for early adopters
    • Additional trading pairs
    • Analytics for price, liquidity, volume, fees, and more
    • Language options in the Orca UI

    Of course, these ideas are only a starting point. We want to hear what you’d like to see — wild ideas welcome. Join the conversation on our Discord, Telegram, or Twitter (@orca_so). We’ll be waiting!

    Go to Source
    Author: Orca

  • Anonymous

    Member
    April 18, 2021 at 3:25 pm

    Since we launched Orca last Thursday, we’ve already been over-WHALE-med by the positive response from the community. (For those of you who already saw this pun on Twitter: We’re sorry. 🐳) Thank you for all the love and support!

    Unsurprisingly, the number one thing you want to know is:

    “Will there be an ORCA governance token?”

    The short answer:

    We hope so. But only once the conditions are right (enough organic trading activity and community participation) for Orca to serve the Solana ecosystem even better as a community-run protocol. That could take a few months, a year, or even longer. Regardless, we’re in it for the long haul.

    The long answer:
    As with any major decision, when deciding whether to issue a governance token, we asked: “Is this the most impactful thing we can do right now to achieve Orca’s mission?”

    Back in 2018, we were drawn to DeFi by the promise of a more equitable financial system. The actual experience of using DeFi was a different story. Achingly high fees, snail-paced transactions, the trickle of panic when you think you’ve lost your seed phrase… you know the story.

    Solana is different.

    Our mission is to bring that better financial system one step closer to reality. And we’ll do it by leveraging the performance of Solana to create experiences that are far more usable, equitable, and transparent than traditional financial institutions could ever hope to provide.

    …which brings us to another question:

    How does issuing a token further our mission?
    As an AMM, Orca is inherently incentive-aligned:

    • Traders get speedy and reliable exchanges of digital assets for a modest fee.
    • Liquidity providers earn a portion of those fees in exchange for the opportunity cost of providing capital and risk of divergence or impermanent loss.
    • Arbitrageurs get sweet deals on trades, which in turn keeps prices in line with market rates.

    However, one critical party is missing. The community: everyone who invests time and effort into developing the protocol and supporting users. A governance token rewards that community engagement with a say in the future of the protocol.

    Something that differentiates us from many other DeFi projects is a strong commitment to our values — values that go beyond “making money.” (We’ll touch on this more in the sections to follow.) Incentivizing community participation gives those values longevity, even in the absence of the founding team.

    When will you issue a token?
    Not for a few months, at least. We’ve observed some worrying trends in the experiments with decentralized governance on Ethereum. Too often, token issuers make promises they cannot keep, swindling uninformed buyers into purchasing tokens for a protocol with no real value.

    This is especially true when tokens are released at launch, before said protocol has had time to prove that it offers any real value. The result: A speculative, FOMO-driven hype-bubble that, when popped, leaves buyers swimming in the red.

    So, when is the right time to release an ORCA token?

    • When there is a reasonable amount of organic trade flow on Orca. This requires—among other things—the Solana ecosystem to grow and more legitimate use cases to arise.
    • When there is a thriving ecosystem of designers, developers, and moderators who believe in Orca’s mission, and thus contribute to the continued growth of the protocol.

    When both of the above factors are true, we’d like to issue a governance token. Though we’ll work hard to make that happen in the next several months, the actual timing depends on dynamics that are out of our control, like market cycles. But we believe Orca can flourish as a community-run protocol, and we’d love to see that happen sooner rather than later.

    What would a fair token distribution look like?
    Credibly neutral. (Yes, we’re fans of that phrase — thanks, Vitalik!)

    In other words, the distribution would reward:

    • Early adoption. Providing liquidity on a yet-unproven, early protocol involves a higher degree of risk than depositing in Uniswap or SushiSwap. That risk should be rewarded accordingly.
    • Continued adoption. Participants who actively participate over time should receive more than people who were early, but become inactive. One way to achieve this is through a consistent rate of inflation.

    The distribution would not reward:

    • Insider information. Everyone will receive tokens according to the same formula. We have not promised any additional incentives, even for friends of the Orca team.
    • Gaming the system. You won’t earn more tokens for congesting the network by creating multiple addresses and wash trading, or for splitting up swaps into smaller amounts.

    To expand on that last bullet: Though we were delighted to see so much love for our GUPPY tokens, we think there are better ways to structure distributions. From now on, we’ll strive to reward behavior that contributes to the long-term health of the protocol.

    How would ORCA tokens differ from Collectibles?
    One thing we love about DeFi is its playful, counterculture personality. (No thanks, stodgy white-shirted bankers.) And as artists ourselves, we’re fans of the growing overlap between cryptocurrency and art. We see our Collectibles as part of this trend. Eventually, they could be bought and sold. But like any other artwork, their value comes from the fact that people like them, rather than any intrinsic use-case.

    That said, we do have an idea for a use case for Collectibles! We hope to share more details soon, but for now, know that it’ll be in line with the idea of Collectibles as art. It won’t be limited only to whales. It will be experimental, adorable, and fun.

    Whew, that’s a lot! For those of you who read this far: Thank you. We hope that our thinking resonates with some of you, and that you’re as excited about the future of Orca as we are. If you haven’t yet given us a spin, you can visit us at https://orca.so.

    If you’re interested in getting involved, please reach out to us via Discord or Telegram and follow our announcements on Twitter (@orca_so). We have ideas for both independent contributors and experienced dev teams hungry for a larger challenge in the Solana ecosystem. See you there!

    And finally, a message from our legal team, whom we affectionately call the Tiger Sharks: 🦈 ⚖️

    Go to Source
    Author: Orca

  • Anonymous

    Member
    April 18, 2021 at 3:25 pm

    On Apr 13 at 16:00 PST, the cofounders of Orca held our first-ever AMA (“Ask Me Anything”) event on the Solana Telegram group. As we said at the end of the event… it was sea-riously fun getting to know our community a little better! 🐠

    For those who weren’t able to make it, we’ve shared a transcript of the event below. If you have other questions, you’re always welcome to join our communities on Twitter, Telegram, or Discord.

    Huge thanks to Chris from the Solana team for moderating this event! ☀️

    TRANSCRIPT FOLLOWS

    (Or, download the PDF transcript for nicer formatting!)

    Chris: I’m really excited to be joined today by the team behind Orca. Orca is a user-friendly AMM where you can exchange cryptocurrency on Solana.

    The goal of this AMA is to provide an opportunity for the Solana community to learn more about Orca; who the team are and what they are working on.

    For the first part of the AMA, I will ask some questions to help us to learn more about Orca.

    The second part is an open floor for the community to ask questions! (and a chance to win a guppy!)

    Let’s start off with a basic introduction! Please introduce yourself @oritheorca / @ym_orca and tell us a bit about yourselves.

    Ori: Hi, all, I’m Ori! I’m an engineer, designer, and one of the cofounders of Orca. 🐳

    After studying Computer Science at Stanford, I worked at startups in the Bay Area and New York, then a design firm in Tokyo before accidentally stumbling into the world of crypto. These days, I’m a jack of all trades, working across the stack to make Orca your favorite DeFi project! 😉

    Chris: Welcome Ori!

    Yutaro: Hi, I’m Yutaro! I’m also an engineer, and the other cofounder of Orca.

    After spending a number of years building databases at MongoDB, I jumped into crypto full time in 2017. From contributing to Eth 2.0 to building smart contracts for UMA, I’ve touched every part of the crypto stack over the years. I’m incredibly excited to have the opportunity to build a core piece of Solana’s ecosystem!

    Chris: Great to have you here with us, Yutaro! You both have incredibly interesting backgrounds!

    Now let’s jump into some questions!

    First, what is Orca?

    Ori: Happy to take that one!

    Orca is the most user-friendly DEX on Solana. When you exchange tokens on Orca, you’ll enjoy speedy swaps, minimal transaction fees, and handy features like our Fair Price Indicator, which makes it easy to know whether you’re getting market rate on your trade.

    Plus, users love our cute Collectibles, which are special tokens you can earn by participating in the Orca ecosystem! 🐠

    Chris: That sounds like a fun reward! How does Orca differ from other DEXes?

    Yutaro: I’ll take this one. Ori’s WPM is way higher than mine, but I’ll try to keep up 😂

    Orca is the only pure AMM DEX on Solana — we have our own liquidity pools! Compared to orderbook-based exchanges, we think the simplicity and composability of AMMs make them the best choice to power the next generation of DeFi apps. We hope you also experience the simplicity of AMMs when you use Orca 😁

    Chris: I think that’s certainly an area that needs improvement in this space!

    Why did you choose to build Orca on Solana?

    Ori: That’s a great question!

    Of the solutions competing to scale the blockchain ecosystem, Solana’s performance obviously stands out. 50k transactions per second, 400ms block times, and $0.01 transaction fees are pretty amazing!

    But the people matter, too. Having worked with the Solana team for awhile, we’ve continually been impressed by their values, vision, and engineering chops.

    We’re proud to be a part of this vibrant ecosystem 🌍☀️

    Chris: That’s great to hear!

    What makes the Orca brand unique?

    Yutaro: Mm, so we think that our combination of a deep understanding of crypto, strong focus on UX, and commitment to values is pretty special. In a recent series of tweets, we distilled our brand into the following 3 adjectives: Professional, principled, and playful 😊 I hope those that have been following Orca can see how that comes out in the way we designed the product and engage with our community!

    Chris: I certainly get that impression! What tokens can I exchange on Orca?

    Ori: At the moment, you can exchange SOL, ETH, BTC, USDC, USDT, RAY, FTT, KIN, and ROPE (whew)!

    But we know you want more, so we plan to support every token that you want to trade on Solana ☀️

    We’ll be listing a few more popular tokens very soon… stay tuned! 😉

    Chris: Exciting! What is coming up on your roadmap?

    Yutaro: Yeah, so we have a suuper exciting couple of months ahead! There are a number of major features in development, including the Solar Bridge (a UI for Wormhole, a decentralized bridge from Ethereum to Solana), Stable Pools (highly efficient trading of stablecoins and other similar-valued pairs), and UI localization…

    But our number one priority is the feature that you’ve all been asking for… an ORCA governance token and liquidity mining mechanism!

    Chris: Sounds like a busy schedule for you!

    Ori: Haha, we have our fins full 🙂

    Chris: Do you have any airdrops planned?

    Ori: Yes! Our loyal Twitter followers may have seen the hints already, but we’re gearing up for our next Collectible airdrop… the fun-loving CLOWNFISH!

    The exact criteria to earn the CLOWNFISH is a secret, but users who trade frequently in the last half of April may find themselves the recipient of one of these little jokesters 🙂

    Chris: Fin-tastic!

    I think that wraps up the first part of our AMA

    Danil: Will Orca support other networks in the future? Or only work on solana network?

    and will there be a farming NFTs and Orca pool in the future?

    Ori: At this point, we only have plans to support Solana! No plans to support farming of NFTs, but we are thinking about a liquidity mining mechanism for ORCA tokens. 🐳

    Yutaro: We’re incredibly bullish on Solana, and our focus for at least Q2/Q3 will be on building a great DEX on Solana only!

    T: “GUPPY or not GUPPY, that is the question” — Shakespeare circa 2021, probably

    Ori: Definitely GUPPY. Please treat our fishy friends nicely 🙂

    CHICACUBA: Could you briefly explain what your governance and mining program will consist of?

    Yutaro: Hey! We’ve been mapping out tokenomics and the mining program internally for a while now. Nothing’s set in stone yet, but we’re using other successful protocols like Uniswap and SushiSwap, particularly the good parts, as inspiration.

    Tosquito2.0: You mentioned the stable coin swap, could you please explain how an amm would make it more efficent vs an orderbook style dex?

    What do you see as potential usecases in the future for such a setup in the Solana ecosystem?

    Ori: The stable swap improves capital efficiency on stablecoin pools like USDC/USDT, compared to the Constant Product curve that we currently use for our pools. This makes it possible to exchange larger volumes with lower price impact.

    Yutaro: For LPs, the advantage of an AMM is the simplicity. You don’t need to understand how to manage an orderbook to provide liquidity. For traders, if enough LPs supply liquidity for the pool, the slippage for AMMs can compete with or even beat orderbooks!

    T @ N √ i R: What are the main advantages of ORCA?

    Ori: Our fans often tell us how much they love our lightning-fast swaps and low fees, along with the convenience features in our UX and the ability to earn Collectibles 🙂 Plus, we think our combination of deep understanding of the crypto space, focus on user-centric design, and commitment to honesty and transparency make us pretty unique as a team!

    Yusuf: Lemme in, When farming pools sir? We wanna have liquidity mining to farm ROPE at Orca🔥

    Yutaro: Hey, we’re planning on having farming pools when we launch the governance token 😊

    Régis: About WALLETS ! Is Sollet OK for every operations on Orca ? Will it support the NFT’s ?

    Ori: We recently released support for Phantom Wallet, which should come out of beta soon! We’re also actively looking into integrating other Solana wallets, especially native mobile app wallets.

    Hashed: How long will it take to have wormhole running?

    Ori: We’re hoping to have a beta out soon, but it’ll definitely be sometime in Q2! ☀️

    Michele : Will it be possible to trade collectibles in a marketplace?

    Ori: This is something we’re thinking about, but it’s not on our immediate roadmap. We don’t officially support this 😉, but we’ve seen a lot of folks trading our GUPPYs on secondary markets! If you’re interested, you can join our Orca Collectibles Telegram group: t.me/orca_collectibles

    Cryptodub Will LP provider benefit from governance token?

    Yutaro: Yep, so the general purpose of the governance token is to allow the various stakeholders of the Orca DEX to continue operating it. Since LPs are one of the most important stakeholders of any AMM DEX, we’ll structure the distribution mechanism to allow LPs to earn them.

    Azrael: Hey orca team, love using your product! Great UI.

    Question on liquidity. How do you guys plan to improve liquidity? Do you have plans to incorporate Serum/ Raydium liquidity into your AMM.

    Secondly, efficient stablecoin swap will mean something similar to Curve? Or will it still use the product constant curve AMM.

    Which reminds me we need a decentralized stablecoin on Solana!

    Ori: Thanks, Azrael! 🙂

    We don’t currently have plans to incorporate Serum/Raydium liquidity, but we do expect liquidity to go up over time as we release more features on Orca!

    And yes, our stable swap will use the same implementation as curve fi, but on the Solana blockchain 🙂

    Michele : With $ORCA token we’ll be able to vote the governance?

    Ori: Yep, we’ll eventually implement a governance mechanism to allow members of our community to vote! 👍

    T @ N √ i R: Most of users are still not aware with blockchain & its related projects! So, How this project platform create awareness about their project with non-crypto users too?

    Yutaro: Hey, that’s an interesting question. One of the big reasons why we chose Solana to begin with is that we think it’s the first blockchain that could potentially be used by regular users! In that sense, we’re riding Solana’s wave to mainstream adoption. In addition to that, our focus is always on making Orca easy to use and understand for everyone, not just power users. We’re hoping this’ll allow Orca to be used by a wider range of folks!

    BUYING: Any plans to implement varying Amm curve equations for different coins/lp strategies? Such as for the stable swaps

    Yutaro: We’re definitely doing stable swaps. Other than that, we have Q3/Q4 plans to implement capital-efficient AMMs!

    Chris: All right, I think that wraps up the AMA! Incredible job on answering all of those questions!

    Thank you again to Orca for joining us and to all of our community members who have participated.

    Ori: Thanks so much for having us, Chris!

    Chris: You’re welcome!

    Yutaro: Thanks Chris!

    Ori: It was sea-riously exciting to chat with our community 😊

    Go to Source
    Author: Orca

  • solbot

    Member
    April 18, 2021 at 3:26 pm

    There’s a hot new token, and it’s all over your Twitter feed. You head to your favorite DEX to swap for it, only to be reminded of the current state of the world: making the trade would cost you twenty bucks in gas.

    If you were active in DeFi during the summer of 2020, you’re likely familiar with the situation I just described. We call it the gas ceiling: fees so high only whales can afford to swim in the space.

    Terrible puns aside, the crypto ecosystem is craving a long-term solution, and that solution is Solana. We believe that Solana’s sub-second finality, airtight security, and nearly-free transactions will break the gas ceiling. Not convinced? Today, we’re proud to announce the launch of Orca, the easiest, fastest, and most user-friendly AMM and aggregator on Solana. Come experience the magic of instant, nearly-free swaps — you might just change your mind.

    A human-centered DEX

    At Orca, we pride ourselves on designing for people, not programs. Since Orca was little more than sketches on printer paper, we’ve had an ongoing feedback loop with real DeFi users. From this, we’d like to highlight three ways that Orca seeks to provide a simpler, more human-centered experience for traders on Solana.

    1. Fair Price Indicator
    In our interviews with DeFi users, one of the biggest pain points we found is determining whether a given pool currently offers a fair price. Current DEXes often feel like a choice between two evils: Blind trust that the DEX offers market rates, or time-consuming comparison with trackers or other exchanges. With Orca, we’ve sought to solve that problem with the Fair Price Indicator.

    When you input a trade on Orca, we check whether both of the following conditions are true:

    1. The rate is within 1% of the listed market rate on CoinGecko
    2. Slippage is less than or equal to your tolerance setting (defaults to 1%)

    If so, you’ll see the big green check mark above, and you can confidently hit Exchange. If not, we’ll display a Rate Warning or Slippage Warning so you can make an informed decision on whether to trade.

    2. Aggregator
    Orca is not just an AMM, but also an aggregator. Each time you input a trade, we offer the best available rate from either Orca or Serum Swap’s liquidity pools. We plan to integrate other reputable AMMs as they are built, so you can feel confident that Orca always offers the best price.

    3. Token Balances
    In most AMMs on Ethereum, there’s no way to check your balances without having to open a browser extension. This feels like an obvious gap when it comes to UX, which is why we’ve added a Tokens panel directly into the Orca interface. There, you can see your balance for all tokens listed on Orca, including live updates when you make a trade or provide liquidity.

    Why we picked Solana

    Orca consists of a lean team of two: A software engineer with deep experience in blockchain protocols, and a software engineer/interaction designer who specializes in creating human-centered digital experiences.

    This combination of crypto expertise and a fresh pair of eyes gives us a unique perspective on the space. Long-term, our mission is to build blockchain apps that solve real problems for everyday people. But we’re also clear-eyed about the fact that the technology has a long way to go before widespread adoption is feasible. Transactions that cost $20 and take several minutes to confirm are simply not performant enough to compete with traditional financial solutions.

    For crypto to become relevant to a wider audience, it must scale massively while remaining credibly neutral — in other words, obviously and provably non-discriminatory. Solana has laid the foundations to enable that change. The networking stack and virtual machine have seen slow progress in recent years, especially relative to other domains like advanced cryptography. In successfully implementing Proof of History and parallel transaction processing, among other innovations, Solana has proven that these areas are ripe for optimization.

    The results speak for themselves. The Solana network boasts 400ms block times, 50,000 TPS, and $0.00001 average transaction fees, all without the complexity of side chains or sharding. This may sound too good to be true, but having built an application from the ground up, we can vouch that Solana’s performance does not detract from the other essential properties of a blockchain (censorship resistance and security). What’s more, the Solana engineering team is actively publishing open-source building blocks for app development. By using their token-swap program as a base for our smart contract, we were able to design, develop, and launch Orca in just four months, all with our lean team of two.

    That said, when it comes to an ecosystem’s success, technology alone is not sufficient. When we reached out to the Solana Foundation, we were equally impressed by the intelligence, strong values, and down-to-earth nature of their team. As such, we’re confident that Solana has all the ingredients to become a vibrant, scalable ecosystem. We’re pitching in by building a core piece of essential infrastructure: an easy-to-use, human-centered AMM.

    What’s on the horizon

    Now that we’re live, anyone outside of the U.S. can visit orca.so and start trading SOL, BTC, ETH, USDC, USDT, and RAY. However, the journey has just begun. Here are some of the features on the way:

    • Integration of Wormhole, a cross-chain bridge between Ethereum ↔ Solana
    • Collectible, valueless tokens for early adopters
    • Additional trading pairs
    • Analytics for price, liquidity, volume, fees, and more
    • Language options in the Orca UI

    Of course, these ideas are only a starting point. We want to hear what you’d like to see — wild ideas welcome. Join the conversation on our Discord, Telegram, or Twitter (@orca_so). We’ll be waiting!

    Go to Source
    Author: Orca

  • solbot

    Member
    April 18, 2021 at 3:26 pm

    Since we launched Orca last Thursday, we’ve already been over-WHALE-med by the positive response from the community. (For those of you who already saw this pun on Twitter: We’re sorry. 🐳) Thank you for all the love and support!

    Unsurprisingly, the number one thing you want to know is:

    “Will there be an ORCA governance token?”

    The short answer:

    We hope so. But only once the conditions are right (enough organic trading activity and community participation) for Orca to serve the Solana ecosystem even better as a community-run protocol. That could take a few months, a year, or even longer. Regardless, we’re in it for the long haul.

    The long answer:
    As with any major decision, when deciding whether to issue a governance token, we asked: “Is this the most impactful thing we can do right now to achieve Orca’s mission?”

    Back in 2018, we were drawn to DeFi by the promise of a more equitable financial system. The actual experience of using DeFi was a different story. Achingly high fees, snail-paced transactions, the trickle of panic when you think you’ve lost your seed phrase… you know the story.

    Solana is different.

    Our mission is to bring that better financial system one step closer to reality. And we’ll do it by leveraging the performance of Solana to create experiences that are far more usable, equitable, and transparent than traditional financial institutions could ever hope to provide.

    …which brings us to another question:

    How does issuing a token further our mission?
    As an AMM, Orca is inherently incentive-aligned:

    • Traders get speedy and reliable exchanges of digital assets for a modest fee.
    • Liquidity providers earn a portion of those fees in exchange for the opportunity cost of providing capital and risk of divergence or impermanent loss.
    • Arbitrageurs get sweet deals on trades, which in turn keeps prices in line with market rates.

    However, one critical party is missing. The community: everyone who invests time and effort into developing the protocol and supporting users. A governance token rewards that community engagement with a say in the future of the protocol.

    Something that differentiates us from many other DeFi projects is a strong commitment to our values — values that go beyond “making money.” (We’ll touch on this more in the sections to follow.) Incentivizing community participation gives those values longevity, even in the absence of the founding team.

    When will you issue a token?
    Not for a few months, at least. We’ve observed some worrying trends in the experiments with decentralized governance on Ethereum. Too often, token issuers make promises they cannot keep, swindling uninformed buyers into purchasing tokens for a protocol with no real value.

    This is especially true when tokens are released at launch, before said protocol has had time to prove that it offers any real value. The result: A speculative, FOMO-driven hype-bubble that, when popped, leaves buyers swimming in the red.

    So, when is the right time to release an ORCA token?

    • When there is a reasonable amount of organic trade flow on Orca. This requires—among other things—the Solana ecosystem to grow and more legitimate use cases to arise.
    • When there is a thriving ecosystem of designers, developers, and moderators who believe in Orca’s mission, and thus contribute to the continued growth of the protocol.

    When both of the above factors are true, we’d like to issue a governance token. Though we’ll work hard to make that happen in the next several months, the actual timing depends on dynamics that are out of our control, like market cycles. But we believe Orca can flourish as a community-run protocol, and we’d love to see that happen sooner rather than later.

    What would a fair token distribution look like?
    Credibly neutral. (Yes, we’re fans of that phrase — thanks, Vitalik!)

    In other words, the distribution would reward:

    • Early adoption. Providing liquidity on a yet-unproven, early protocol involves a higher degree of risk than depositing in Uniswap or SushiSwap. That risk should be rewarded accordingly.
    • Continued adoption. Participants who actively participate over time should receive more than people who were early, but become inactive. One way to achieve this is through a consistent rate of inflation.

    The distribution would not reward:

    • Insider information. Everyone will receive tokens according to the same formula. We have not promised any additional incentives, even for friends of the Orca team.
    • Gaming the system. You won’t earn more tokens for congesting the network by creating multiple addresses and wash trading, or for splitting up swaps into smaller amounts.

    To expand on that last bullet: Though we were delighted to see so much love for our GUPPY tokens, we think there are better ways to structure distributions. From now on, we’ll strive to reward behavior that contributes to the long-term health of the protocol.

    How would ORCA tokens differ from Collectibles?
    One thing we love about DeFi is its playful, counterculture personality. (No thanks, stodgy white-shirted bankers.) And as artists ourselves, we’re fans of the growing overlap between cryptocurrency and art. We see our Collectibles as part of this trend. Eventually, they could be bought and sold. But like any other artwork, their value comes from the fact that people like them, rather than any intrinsic use-case.

    That said, we do have an idea for a use case for Collectibles! We hope to share more details soon, but for now, know that it’ll be in line with the idea of Collectibles as art. It won’t be limited only to whales. It will be experimental, adorable, and fun.

    Whew, that’s a lot! For those of you who read this far: Thank you. We hope that our thinking resonates with some of you, and that you’re as excited about the future of Orca as we are. If you haven’t yet given us a spin, you can visit us at https://orca.so.

    If you’re interested in getting involved, please reach out to us via Discord or Telegram and follow our announcements on Twitter (@orca_so). We have ideas for both independent contributors and experienced dev teams hungry for a larger challenge in the Solana ecosystem. See you there!

    And finally, a message from our legal team, whom we affectionately call the Tiger Sharks: 🦈 ⚖️

    Go to Source
    Author: Orca

  • solbot

    Member
    April 18, 2021 at 3:26 pm

    On Apr 13 at 16:00 PST, the cofounders of Orca held our first-ever AMA (“Ask Me Anything”) event on the Solana Telegram group. As we said at the end of the event… it was sea-riously fun getting to know our community a little better! 🐠

    For those who weren’t able to make it, we’ve shared a transcript of the event below. If you have other questions, you’re always welcome to join our communities on Twitter, Telegram, or Discord.

    Huge thanks to Chris from the Solana team for moderating this event! ☀️

    TRANSCRIPT FOLLOWS

    (Or, download the PDF transcript for nicer formatting!)

    Chris: I’m really excited to be joined today by the team behind Orca. Orca is a user-friendly AMM where you can exchange cryptocurrency on Solana.

    The goal of this AMA is to provide an opportunity for the Solana community to learn more about Orca; who the team are and what they are working on.

    For the first part of the AMA, I will ask some questions to help us to learn more about Orca.

    The second part is an open floor for the community to ask questions! (and a chance to win a guppy!)

    Let’s start off with a basic introduction! Please introduce yourself @oritheorca / @ym_orca and tell us a bit about yourselves.

    Ori: Hi, all, I’m Ori! I’m an engineer, designer, and one of the cofounders of Orca. 🐳

    After studying Computer Science at Stanford, I worked at startups in the Bay Area and New York, then a design firm in Tokyo before accidentally stumbling into the world of crypto. These days, I’m a jack of all trades, working across the stack to make Orca your favorite DeFi project! 😉

    Chris: Welcome Ori!

    Yutaro: Hi, I’m Yutaro! I’m also an engineer, and the other cofounder of Orca.

    After spending a number of years building databases at MongoDB, I jumped into crypto full time in 2017. From contributing to Eth 2.0 to building smart contracts for UMA, I’ve touched every part of the crypto stack over the years. I’m incredibly excited to have the opportunity to build a core piece of Solana’s ecosystem!

    Chris: Great to have you here with us, Yutaro! You both have incredibly interesting backgrounds!

    Now let’s jump into some questions!

    First, what is Orca?

    Ori: Happy to take that one!

    Orca is the most user-friendly DEX on Solana. When you exchange tokens on Orca, you’ll enjoy speedy swaps, minimal transaction fees, and handy features like our Fair Price Indicator, which makes it easy to know whether you’re getting market rate on your trade.

    Plus, users love our cute Collectibles, which are special tokens you can earn by participating in the Orca ecosystem! 🐠

    Chris: That sounds like a fun reward! How does Orca differ from other DEXes?

    Yutaro: I’ll take this one. Ori’s WPM is way higher than mine, but I’ll try to keep up 😂

    Orca is the only pure AMM DEX on Solana — we have our own liquidity pools! Compared to orderbook-based exchanges, we think the simplicity and composability of AMMs make them the best choice to power the next generation of DeFi apps. We hope you also experience the simplicity of AMMs when you use Orca 😁

    Chris: I think that’s certainly an area that needs improvement in this space!

    Why did you choose to build Orca on Solana?

    Ori: That’s a great question!

    Of the solutions competing to scale the blockchain ecosystem, Solana’s performance obviously stands out. 50k transactions per second, 400ms block times, and $0.01 transaction fees are pretty amazing!

    But the people matter, too. Having worked with the Solana team for awhile, we’ve continually been impressed by their values, vision, and engineering chops.

    We’re proud to be a part of this vibrant ecosystem 🌍☀️

    Chris: That’s great to hear!

    What makes the Orca brand unique?

    Yutaro: Mm, so we think that our combination of a deep understanding of crypto, strong focus on UX, and commitment to values is pretty special. In a recent series of tweets, we distilled our brand into the following 3 adjectives: Professional, principled, and playful 😊 I hope those that have been following Orca can see how that comes out in the way we designed the product and engage with our community!

    Chris: I certainly get that impression! What tokens can I exchange on Orca?

    Ori: At the moment, you can exchange SOL, ETH, BTC, USDC, USDT, RAY, FTT, KIN, and ROPE (whew)!

    But we know you want more, so we plan to support every token that you want to trade on Solana ☀️

    We’ll be listing a few more popular tokens very soon… stay tuned! 😉

    Chris: Exciting! What is coming up on your roadmap?

    Yutaro: Yeah, so we have a suuper exciting couple of months ahead! There are a number of major features in development, including the Solar Bridge (a UI for Wormhole, a decentralized bridge from Ethereum to Solana), Stable Pools (highly efficient trading of stablecoins and other similar-valued pairs), and UI localization…

    But our number one priority is the feature that you’ve all been asking for… an ORCA governance token and liquidity mining mechanism!

    Chris: Sounds like a busy schedule for you!

    Ori: Haha, we have our fins full 🙂

    Chris: Do you have any airdrops planned?

    Ori: Yes! Our loyal Twitter followers may have seen the hints already, but we’re gearing up for our next Collectible airdrop… the fun-loving CLOWNFISH!

    The exact criteria to earn the CLOWNFISH is a secret, but users who trade frequently in the last half of April may find themselves the recipient of one of these little jokesters 🙂

    Chris: Fin-tastic!

    I think that wraps up the first part of our AMA

    Danil: Will Orca support other networks in the future? Or only work on solana network?

    and will there be a farming NFTs and Orca pool in the future?

    Ori: At this point, we only have plans to support Solana! No plans to support farming of NFTs, but we are thinking about a liquidity mining mechanism for ORCA tokens. 🐳

    Yutaro: We’re incredibly bullish on Solana, and our focus for at least Q2/Q3 will be on building a great DEX on Solana only!

    T: “GUPPY or not GUPPY, that is the question” — Shakespeare circa 2021, probably

    Ori: Definitely GUPPY. Please treat our fishy friends nicely 🙂

    CHICACUBA: Could you briefly explain what your governance and mining program will consist of?

    Yutaro: Hey! We’ve been mapping out tokenomics and the mining program internally for a while now. Nothing’s set in stone yet, but we’re using other successful protocols like Uniswap and SushiSwap, particularly the good parts, as inspiration.

    Tosquito2.0: You mentioned the stable coin swap, could you please explain how an amm would make it more efficent vs an orderbook style dex?

    What do you see as potential usecases in the future for such a setup in the Solana ecosystem?

    Ori: The stable swap improves capital efficiency on stablecoin pools like USDC/USDT, compared to the Constant Product curve that we currently use for our pools. This makes it possible to exchange larger volumes with lower price impact.

    Yutaro: For LPs, the advantage of an AMM is the simplicity. You don’t need to understand how to manage an orderbook to provide liquidity. For traders, if enough LPs supply liquidity for the pool, the slippage for AMMs can compete with or even beat orderbooks!

    T @ N √ i R: What are the main advantages of ORCA?

    Ori: Our fans often tell us how much they love our lightning-fast swaps and low fees, along with the convenience features in our UX and the ability to earn Collectibles 🙂 Plus, we think our combination of deep understanding of the crypto space, focus on user-centric design, and commitment to honesty and transparency make us pretty unique as a team!

    Yusuf: Lemme in, When farming pools sir? We wanna have liquidity mining to farm ROPE at Orca🔥

    Yutaro: Hey, we’re planning on having farming pools when we launch the governance token 😊

    Régis: About WALLETS ! Is Sollet OK for every operations on Orca ? Will it support the NFT’s ?

    Ori: We recently released support for Phantom Wallet, which should come out of beta soon! We’re also actively looking into integrating other Solana wallets, especially native mobile app wallets.

    Hashed: How long will it take to have wormhole running?

    Ori: We’re hoping to have a beta out soon, but it’ll definitely be sometime in Q2! ☀️

    Michele : Will it be possible to trade collectibles in a marketplace?

    Ori: This is something we’re thinking about, but it’s not on our immediate roadmap. We don’t officially support this 😉, but we’ve seen a lot of folks trading our GUPPYs on secondary markets! If you’re interested, you can join our Orca Collectibles Telegram group: t.me/orca_collectibles

    Cryptodub Will LP provider benefit from governance token?

    Yutaro: Yep, so the general purpose of the governance token is to allow the various stakeholders of the Orca DEX to continue operating it. Since LPs are one of the most important stakeholders of any AMM DEX, we’ll structure the distribution mechanism to allow LPs to earn them.

    Azrael: Hey orca team, love using your product! Great UI.

    Question on liquidity. How do you guys plan to improve liquidity? Do you have plans to incorporate Serum/ Raydium liquidity into your AMM.

    Secondly, efficient stablecoin swap will mean something similar to Curve? Or will it still use the product constant curve AMM.

    Which reminds me we need a decentralized stablecoin on Solana!

    Ori: Thanks, Azrael! 🙂

    We don’t currently have plans to incorporate Serum/Raydium liquidity, but we do expect liquidity to go up over time as we release more features on Orca!

    And yes, our stable swap will use the same implementation as curve fi, but on the Solana blockchain 🙂

    Michele : With $ORCA token we’ll be able to vote the governance?

    Ori: Yep, we’ll eventually implement a governance mechanism to allow members of our community to vote! 👍

    T @ N √ i R: Most of users are still not aware with blockchain & its related projects! So, How this project platform create awareness about their project with non-crypto users too?

    Yutaro: Hey, that’s an interesting question. One of the big reasons why we chose Solana to begin with is that we think it’s the first blockchain that could potentially be used by regular users! In that sense, we’re riding Solana’s wave to mainstream adoption. In addition to that, our focus is always on making Orca easy to use and understand for everyone, not just power users. We’re hoping this’ll allow Orca to be used by a wider range of folks!

    BUYING: Any plans to implement varying Amm curve equations for different coins/lp strategies? Such as for the stable swaps

    Yutaro: We’re definitely doing stable swaps. Other than that, we have Q3/Q4 plans to implement capital-efficient AMMs!

    Chris: All right, I think that wraps up the AMA! Incredible job on answering all of those questions!

    Thank you again to Orca for joining us and to all of our community members who have participated.

    Ori: Thanks so much for having us, Chris!

    Chris: You’re welcome!

    Yutaro: Thanks Chris!

    Ori: It was sea-riously exciting to chat with our community 😊

    Go to Source
    Author: Orca

  • solbot

    Member
    May 8, 2021 at 9:05 am

    Are you a dab hand at marine memery? 🛳

    Ever since we announced the community STARFISH Collectible on Twitter, you’ve been clamoring for more ways to earn these five-legged cuties.

    Today, we’re excited to do just that with the first ever Orca Meme Competition!

    How it works

    For the next week, the best Orca Collectible-themed memes stand a chance to win some shiny STARFISH! The best memes stand to win the following rewards:

    • 1st place: 25 STARFISH
    • 2nd- 5th place: 10 STARFISH each
    • Participation prize: 10 contestants who participated, but didn’t win, will stand a chance to win 1 STARFISH token each! Winners will be selected via a lottery system.

    Contest Duration

    Start time: 8th May 3pm GMT +8
    End time: 16th May 3pm GMT +8

    How can I participate?

    1. Follow all of Orca’s social media channels: Telegram, TwitterDiscord
    2. Create a meme showcasing Orca Collectibles! You can choose to showcase as many of the different Collectibles (GUPPY, WHALE, KILLER WHALE, CLOWNFISH, and STARFISH) as you’d like, at your own discretion.
    3. Tweet your meme with the hashtag #OrcaCollectibleMeme on Twitter. (We recommend copy-pasting to make sure you get the hashtag right! 🍝 )
    4. Fill out this Google Form. Provide the link to your Twitter submission, Telegram and Discord handles, and Solana address.

    Important Note: Don’t forget to set your Twitter account to public and include the hashtag #OrcaCollectibleMeme. If your tweet isn’t public, we won’t be able to consider you for stardom! ⭐️

    Resources

    1. Collectible image assets
    2. Collectible History (a description of each and how it was earned)

    What is this STARFISH thing?

    The STARFISH is the latest of Orca’s coveted Collectibles! Our pod leaders (that’s our moniker for our friendly Community Managers) distribute them to “stars” who do good in the Orca community. We encourage you to send them to other community members as kudos or thank-yous, too!

    One thing to note: our Collectibles are simply for fun! We encourage the community to use them however they’d like, but they have no explicit utility and won’t be tied to the ORCA governance token.

    For the full deets on STARFISH: https://docs.orca.so/collectible-starfish

    How do I know if I won?

    Winners will be announced within 1 week after the competition ends via all social media channels. If you were not selected as a winner in this competition, flail not — keep swimming in our pod, and the stars will align in due time! 😉

    Through this competition, we aim to showcase the creativity in our community and spread the word about Orca as a leading DEX in the wider crypto ecosystem.

    Have questions? Dive into our channels on Discord, Telegram, or Twitter (@orca_so). We’ll sea you there! 🌊

    Go to Source
    Author: Orca

  • solbot

    Member
    May 17, 2021 at 3:04 am

    Orca, the most user-friendly DEX on Solana, is sponsoring $5,000 USD in prizes for the Solana Season Hackathon! ☀️

    There are two prizes up for grabs this season:
    1. $2,500 to the best project that integrates with Orca’s AMM functionality 💰
    2. $2,500 to the best game/interactive art built on top of our lovable Collectibles 🐠

    Why build on our AMM?

    Here at Orca, we’re proud of our decision to build a pure AMM DEX. The primary reason for that is the simplicity of this model, which comes with a number of benefits. One of them is reliability; our users have long praised the ease and execution rates of swaps on Orca, and we expect this to become increasingly true as the Solana network gains ever more traffic.

    Another benefit that we’ve only just begun to dip our toes into is composability. That’s what we’d like to challenge you, the community, to explore in this Hackathon! Orca uses the token-swap smart contract, which is fully audited and available for anyone to integrate with. By integrating with Orca, you can easily build projects involving lightning-fast swaps backed by our liquidity pools. A couple of ideas that we’d love to see:

    1. An interface to create and trade on custom Orca pools
    2. A trade / liquidity aggregator across Orca + Serum
    3. An arbitrage bot

    We’re currently working on building an Orca TypeScript SDK, but in the meantime, you can use the token-swap JS bindings and this list of Orca addresses to interact with our smart contract. If you have questions, feel free to pop into the #integrations channel in our Discord!

    Why build a game/art using the Collectibles?

    Because you love the spirit of NFTs: building wacky digital art using technology!

    We’re proud of our brand, which we summarize with the following three adjectives: Professional, principled, and playful. Our Collectibles represent this side of our brand.

    From the beginning, we’ve encouraged our community to think of them as “badges of honor” for our loyal users, similar to other NFTs. We do not plan to tie them to the $ORCA governance token in any way, including airdrops. However, we think they have enormous creative potential. That’s where you come in!

    Each of the Collectibles is an SPL token, which means that building on top of them is no different from building on top of any other tokens on Solana. A few starter ideas for this category include:

    1. A Pokémon-style game in which you can train, trade, and battle Collectibles
    2. A Tamagotchi-style game in which you can raise a Collectible as a pet
    3. A living digital mural that allows participants to burn Collectibles in order to modify it

    When it comes to this category, the wackier and more fun, the better—the world’s your oyster! (However, the project must involve code — it cannot simply be an illustration of our Collectibles.) To start building, you can use this gist of Collectible addresses and reference the Collectible History doc for how they were previously earned.

    How will the projects be selected?

    Projects will be judged according to the following criteria by the Orca team:

    1. Completeness and quality of implementation
    2. Usefulness / creativity of the idea
    3. User-friendliness & aesthetic appeal

    *Orca reserves the right only to award prizes to teams that are deemed by our holistic evaluation to have invested significant effort. 😉

    Excited to start building?

    Awesome! Of course, any documentation you create and share about integrating with Orca along the way (could be blog posts, tutorials, even a Tweet stream…) is eligible to earn STARFISH! ⭐️

    That’s all for now! If you have any questions or would like to float an idea, swim on over to the #integrations channel in Discord. We can’t wait to see what you come up with! 🐳

    Go to Source
    Author: Orca

  • solbot

    Member
    June 28, 2021 at 3:00 am

    When we launched Orca earlier this year, we did so pseudonymously as YM and Ori. The decision to be pseudonymous was more of a “why not” than a “must have”—why not test the waters before diving in headfirst?

    Fast-forward a few months, and we are very happy here in the waters of the Solana ecosystem! We’ve also observed firsthand the benefits of being open with our community. As a general rule of thumb in DeFi, knowing that a team is (a) highly experienced and (b) believes in their project enough to put their names behind it instills confidence.

    This week, we officially revealed our identities in a conversation with Anatoly on The Solana Podcast. Now, we’d like take this opportunity to introduce ourselves in a little more depth! 🌊

    The current Orca core team 🐳

    Yutaro
    Yutaro Mori, aka rawfalafel, is one of the cofounders of Orca and resident crypto nerd. An industry-trained software engineer fascinated by both cryptography and economics, he foresaw an opportunity in cryptocurrency during the 2017 bull market and promptly quit his “normal” software job. After that, he earned his DeFi stripes as a contributor to the Eth 2.0 Golang client and an engineer at UMA before becoming an early believer in Solana. When he’s not dreaming up ways to increase capital efficiency, you can find him studying macroeconomics or playing Apex Legends (though he’ll readily admit that his performance is less than legendary).

    Ori
    Grace Kwan, aka Ori (her preferred moniker), is Orca’s other cofounder and de facto head of product. With a background in engineering, design, and writing, she specializes in turning complex technical systems into products users love. After getting her B.S. and M.S. in Computer Science at Stanford, she worked as a software engineer at Coursera and an interaction designer at IDEO Tokyo. When she’s not spinning up smart contracts or slick UX, she moonlights as a hobbyist food writer (this year, she published her first stories in Gastro Obscura)!

    tmoc
    Michael Hwang, aka tmoc, is Orca’s first employee and engineering Swiss Army knife. With experience at both tiny startups and software giants such as Google, he can traverse up and down the stack with confidence. His deep understanding of the crypto space lies in his degen DNA — his proudest DeFi moment is getting dumped on by Nomi during DeFi Summer. When he’s not wrangling unruly RPC nodes into place, you can find him producing quirky space music (keep an eye out for the upcoming album) and DJing hipster gigs.

    Milan
    Milan Patel, aka milan 😉, is Orca’s marketing mastermind. After graduating with a degree in Economics / International Development from Georgetown, he ended up as a professional deck builder for the big banks at McKinsey. Soon after, he left to learn how to code, fell in love with crypto, and became a PM for Ethereum 2.0 Staking. (The rest is history!) When he’s not onboarding nocoiners into the wonderful world of crypto, you can find him at the airport (the small kind) learning about aviation or playing chess.

    …And our wider Orca family:

    Though we started with just two people, none of this would have been possible without our wider Orca family. These include:

    • Our advisors, e^{i} Ventures, are an incubator and investment firm with deep expertise in the cryptocurrency industry, especially DeFi. The team is a diverse group of engineers, traders, and researchers in computer science with deep expertise in crypto economics, decentralized finance, and blockchain.
    • Our fearless team of Community Managers, who engage directly with our growing communities and lead marketing initiatives such as AMAs.
    • All the members of our community who choose Orca as their favorite place to swap and provide liquidity. (Hopefully, that’s you!)

    How we’re different

    To close, we’d like to share a few things that we think make our team special:

    • Engineering chops: Every member of our core team is an industry-honed software engineer. Plus, our prior experience developing on Ethereum has given us a valuable understanding of the unique technical constraints posed by developing on blockchains.
    • First-mover advantage: As one of the first projects to receive a grant to develop an app on Solana, we have a collaborative relationship with both the Solana Foundation and many other projects in the ecosystem. Our yield farming smart contract, Aquafarm, will be one of the first widely-used Solana smart contracts developed by an independent team!
    • Bootstrapped: Orca was self-funded with a grant from the Solana Foundation, so we have not pre-allocated any tokens to investors prior to the token issuance. At our current headcount, we have enough capital to keep developing Orca for the next several years. We do plan to seek investment from values-aligned investors after launch, with the primary motivations of growing the team and raising awareness.

    What’s next

    As a team, we are incredibly bullish on Solana and expect the ecosystem to grow massively over the next few years. After our upcoming governance token release, we’ll shift our focus to innovating on the core AMM to improve capital efficiency for liquidity providers. (More thoughts on this in the months to come!)

    Though we plan to gradually decentralize the Orca protocol over the next several years, community-oriented governance is still an unproven experiment. We’ll be here for as long as it takes to navigate Orca safely into the hands of the community.

    Want to join one of the most ambitious projects on Solana? We’re on the lookout for 1–2 senior software engineers to join our (fully remote, competitively-compensated) pod. If that sounds like you, hit us up on Discord or drop us a line at team@orca.so! 🐳

    Go to Source
    Author: Orca

  • solbot

    Member
    July 27, 2021 at 6:00 pm

    A warm hello to all our long-time supporters — that’s our Orca Collectible holders! 😉 We have some surprise deep-sea treasure to thank you for being a part of our community!

    Introducing… Orca’s Collectible Sticker Pack #1! These real-world, high-quality stickers are free to claim if you meet the requirements, but there’s only 500 to go around. So swim on over and tell your friends!

    What is a Collectible Sticker Pack?

    A physical sticker pack starring our friendly Collectibles, shipped directly to you — anywhere in the world! It includes all Collectibles to date (GUPPY, WHALE, KILLER WHALE, CLOWNFISH, and STARFISH), plus the Orca logo.

    WHALE and KILLER WHALE holders will be eligible for a special Shiny Pack, which includes an exclusive shiny sticker of the Orca logo! ✨

    Swimming in style in Brooklyn.

    I want one! How do I get it?

    1. Navigate to http://www.orca.so/stickerpack1 and connect the wallet holding your eligible Collectibles.
    2. If you held a STARFISH, GUPPY, CLOWNFISH, WHALE, or KILLER WHALE in your wallet on Tuesday, July 27, 2021 at 05:15 UTC, you’ll be eligible to redeem a pack!
    3. Input your shipping address, claim your pack on the Sticker Portal, and it’ll be on its way within the next few weeks. (Note that we can’t update shipping addresses once they are entered, so be careful!)
    4. The Sticker Portal will be open for 1 week from July 27th 18:00 UTC to August 3rd 18:00 UTC, with up to 500 limited-edition Orca Sticker Packs available to claim. Depending on the Collectible you hold, you’ll get a:
      Standard pack (GUPPY/CLOWNFISH/STARFISH holders)
      Shiny pack (WHALE/KILLER WHALE holders)
    5. Share a video or picture of your claimed sticker pack status on Twitter with the tags @orca_so and #OrcaCollectible, and you just might be the recipient of a few STARFISH 💛
    6. When you receive your sticker pack, show us pictures of where in the world your marine critters have traveled! Tweet at us with the tag #OrcaCollectible, and you might be in for a few more STARFISH! 😉

    What if I hold my Orca Collectibles in a wallet other than Sollet or Phantom?

    Don’t panic! You can set up a Sollet or Phantom wallet with the same address by exporting your private key, which will then be eligible to claim the pack. To do so:

    1. Go to settings and click Export Private Key.
    2. When making either a Sollet or Phantom wallet, click Restore Existing Wallet.
    3. Enter the exported private key, and you should see your Collectibles!

    (And don’t worry, we’ve heard your feedback — expect additional wallet options to be added in the near future!)

    What else should I be on the lookout for?

    • Join our Discord to earn STARFISH by becoming an integral part of our community. Our pod leaders send them on occasion for helping other community members out, and we’ll occasionally have contests/requests through which you can earn more.
    • We have more sweet unlocks using your Orca Collectibles!
    • If you missed it, turn on notifications for our Twitter account, and keep an eye out 😉

    The nitty-gritty technical details

    How does Orca handle my personal information and protect my privacy?
    We base58-encode the shipping address you enter in the browser and send it to our servers and database via HTTPS using Transport Layer Security (TLS). This means that the data is fully encrypted while it is sent across the internet; only your computer and our backend can read the data. Our servers then store the shipping address in a dedicated MongoDB Atlas cluster, which encrypts the data at rest using encrypted storage volumes.

    How does Orca verify ownership of my collectibles?
    We took a snapshot of all wallets holding Collectibles on Tuesday, July 27, 2021 at 05:15 UTC. This information is publicly available on the Solana blockchain, and anyone can verify this information by calling the getProgramAccounts method with Solana’s JSON RPC or Web3.js SDK.

    To claim a sticker pack, you’ll sign a message using your private key, just as you’d sign any transaction on the Solana blockchain. This message signature can only be created by your private key. Anyone can verify the signature by using the associated wallet address (public key). This signature is sent as part of the request to claim the sticker pack for your wallet. Our server will reject any attempts to claim a sticker pack without a valid signature.

    Give me more technical details!
    The message that you sign resembles the following:

    message = hash(secret_string + wallet_public_key)

    Both our client and server know how to construct this message. Our server reconstructs the message on the backend and uses the signature provided in the request to verify that the signature is valid.

    To learn more, refer to the following documentation about signing messages using Sollet or Phantom.

    For any further questions, feel free to pop into the #support channel on the Orca Discord!

    Thank you for helping make Orca the thriving marine community that it is today. Don’t forget to tweet at us using #OrcaCollectible — we can’t wait to see where these stickers surface around the globe! 🌎

    Go to Source
    Author: Orca

  • solbot

    Member
    July 27, 2021 at 6:00 pm

    A warm hello to all our long-time supporters — that’s our Orca Collectible holders! 😉 We have some surprise deep-sea treasure to thank you for being a part of our community!

    Introducing… Orca’s Collectible Sticker Pack #1! These real-world, high-quality stickers are free to claim if you meet the requirements, but there’s only 500 to go around. So swim on over and tell your friends!

    What is a Collectible Sticker Pack?

    A physical sticker pack starring our friendly Collectibles, shipped directly to you — anywhere in the world! It includes all Collectibles to date (GUPPY, WHALE, KILLER WHALE, CLOWNFISH, and STARFISH), plus the Orca logo.

    WHALE and KILLER WHALE holders will be eligible for a special Shiny Pack, which includes an exclusive shiny sticker of the Orca logo! ✨

    Swimming in style in Brooklyn.

    I want one! How do I get it?

    1. Navigate to http://www.orca.so/stickerpack1 and connect the wallet holding your eligible Collectibles.
    2. If you held a STARFISH, GUPPY, CLOWNFISH, WHALE, or KILLER WHALE in your wallet on Tuesday, July 27, 2021 at 05:15 UTC, you’ll be eligible to redeem a pack!
    3. Input your shipping address, claim your pack on the Sticker Portal, and it’ll be on its way within the next few weeks. (Note that we can’t update shipping addresses once they are entered, so be careful!)
    4. The Sticker Portal will be open for 1 week from July 27th 18:00 UTC to August 3rd 18:00 UTC, with up to 500 limited-edition Orca Sticker Packs available to claim. Depending on the Collectible you hold, you’ll get a:
      Standard pack (GUPPY/CLOWNFISH/STARFISH holders)
      Shiny pack (WHALE/KILLER WHALE holders)
    5. Share a video or picture of your claimed sticker pack status on Twitter with the tags @orca_so and #OrcaCollectible, and you just might be the recipient of a few STARFISH 💛
    6. When you receive your sticker pack, show us pictures of where in the world your marine critters have traveled! Tweet at us with the tag #OrcaCollectible, and you might be in for a few more STARFISH! 😉

    What if I hold my Orca Collectibles in a wallet other than Sollet or Phantom?

    Don’t panic! You can set up a Sollet or Phantom wallet with the same address by exporting your private key, which will then be eligible to claim the pack. To do so:

    1. Go to settings and click Export Private Key.
    2. When making either a Sollet or Phantom wallet, click Restore Existing Wallet.
    3. Enter the exported private key, and you should see your Collectibles!

    (And don’t worry, we’ve heard your feedback — expect additional wallet options to be added in the near future!)

    What else should I be on the lookout for?

    • Join our Discord to earn STARFISH by becoming an integral part of our community. Our pod leaders send them on occasion for helping other community members out, and we’ll occasionally have contests/requests through which you can earn more.
    • We have more sweet unlocks using your Orca Collectibles!
    • If you missed it, turn on notifications for our Twitter account, and keep an eye out 😉

    The nitty-gritty technical details

    How does Orca handle my personal information and protect my privacy?
    We base58-encode the shipping address you enter in the browser and send it to our servers and database via HTTPS using Transport Layer Security (TLS). This means that the data is fully encrypted while it is sent across the internet; only your computer and our backend can read the data. Our servers then store the shipping address in a dedicated MongoDB Atlas cluster, which encrypts the data at rest using encrypted storage volumes.

    How does Orca verify ownership of my collectibles?
    We took a snapshot of all wallets holding Collectibles on Tuesday, July 27, 2021 at 05:15 UTC. This information is publicly available on the Solana blockchain, and anyone can verify this information by calling the getProgramAccounts method with Solana’s JSON RPC or Web3.js SDK.

    To claim a sticker pack, you’ll sign a message using your private key, just as you’d sign any transaction on the Solana blockchain. This message signature can only be created by your private key. Anyone can verify the signature by using the associated wallet address (public key). This signature is sent as part of the request to claim the sticker pack for your wallet. Our server will reject any attempts to claim a sticker pack without a valid signature.

    Give me more technical details!
    The message that you sign resembles the following:

    message = hash(secret_string + wallet_public_key)

    Both our client and server know how to construct this message. Our server reconstructs the message on the backend and uses the signature provided in the request to verify that the signature is valid.

    To learn more, refer to the following documentation about signing messages using Sollet or Phantom.

    For any further questions, feel free to pop into the #support channel on the Orca Discord!

    Thank you for helping make Orca the thriving marine community that it is today. Don’t forget to tweet at us using #OrcaCollectible — we can’t wait to see where these stickers surface around the globe! 🌎

    Go to Source
    Author: Orca

  • solbot

    Member
    August 4, 2021 at 3:00 am

    Looking for the nitty-gritty stats on our tokenomics? Check out the Tokenomics page on the Orca website.

    If you’re looking for the full story on our governance token, read on!

    It’s the event you’ve been waiting for: The ORCA governance token is here!

    When we launched in February 2021, we resolved that we would release a token once:

    1. We’re able to prove that Orca is generating value.
    2. Releasing a token would accelerate the creation of that value.

    That time is now.

    In this post, we’ll discuss our philosophy for launching a token, our future vision for the Orca protocol, and our brand-new yield farming program, Aquafarms. Let’s dive in!

    True value

    Navigating DeFi can feel like a game of Minesweeper. Too often, projects make claims that never come to fruition. At first, high yield farming incentives and the Twitter hype machine may artificially inflate the price of their tokens, fooling uninformed buyers. But once the emissions taper off, these projects inevitably fizzle out, relegating them to the graveyard of forgotten DeFi projects somewhere out in the metaverse.

    We believe that there’s a better way: Launch without a token. Build a useful product and a thriving community. And — as we are about to do — retroactively distribute that token to the community, rewarding loyal users and kickstarting the process of decentralization.

    In other words, create true value.

    Over the past few months, the Orca protocol has facilitated over $400M in trades, refined our beloved swap UX, and airdropped over 11,000 Collectibles to our early users. This is a solid foundation for Orca’s future development.

    Meanwhile, the Solana ecosystem has been heating up. With new DEXes popping up left and right, you may be wondering: “What makes Orca different? And how does the token fit into that vision?”

    Settle in, and we’ll give you the full story!

    Our vision

    Orca aims to be the best general-purpose AMM on Solana. By “general-purpose,” we mean that we’ll support all tokens in the Solana ecosystem, not just stablecoins or wrapped assets. And by “best”, we mean the most:

    1. User-friendly
    2. Composable
    3. Capital-efficient

    Let’s address these points one at a time, shall we?

    User-friendly: From the beginning, our UX has been a reason that users come to Orca (shoutout to our fans on Twitter below!) You love our Fair Price Indicator, Your Tokens panel, and Magic Bar. In the months to come, we’ll continue making the experience even better by supporting more wallets and listing new tokens as soon as they hit the market.

    Composable: We recently released the Orca SDK beta, which will make it much easier for projects to use Orca as their swap money lego. Plus, we are already proudly integrated (or have integrations in progress) with Phantom, Step Finance, Sonar, CoinGecko, and DeFi Land, among others!

    Capital-efficient: While constant product AMMs are elegant in their simplicity, they aren’t the most capital-efficient. Uniswap v3 has paved the way toward more powerful AMMs, but (as we discussed in episode 1 of our new podcast, OrcaPod!) we believe that there’s much more room for exploration. Post-token launch, we have plans brewing to innovate on the smart contract level to improve the capital-efficiency of our core AMM.

    These are lofty goals. The ORCA token will align incentives between developers, liquidity providers, and traders to help us get there.

    How a token amplifies value

    A purpose-driven fee distribution

    For the ORCA token to accurately reflect Orca’s value, it must be linked to trading activity on the actual platform. That link will be the Orca Treasury.

    Currently, 0.3% of all trades on constant product pools go to liquidity providers. Once the governance token is issued, we’ll be adjusting the distribution as follows (pools with lower fees, such as our USDC / USDT stable pool, will be adjusted proportionally):

    • 0.25% → Liquidity Providers
    • 0.04% → Orca Treasury
    • 0.01% → Impact Fund

    *Note that this distribution is subject to change in the future.

    Why this breakdown?

    Liquidity Providers 🐳

    More liquidity means better rates for traders, which in turn leads to more trading activity, creating a positive flywheel for all players in the Orca ecosystem. However, liquidity providers take on significant opportunity cost by choosing to deposit their liquidity in Orca. Therefore, the majority of trading fees will continue to go to LPs, with the goal of facilitating a healthy AMM ecosystem.

    Orca Treasury 💸

    The Orca Treasury is a DAO used to support the long-term growth of the Orca protocol. Possible use cases include feature development, token buy-backs, or growth into new markets. Eventually, use of the funds will be governed by ORCA tokenholders.

    Orca Impact Fund 💛

    We believe it’s important to create value not only within the crypto space, but also the world around us. For that reason, we are proud to announce the Orca Impact Fund, which will donate 0.01% of all trading fees on Orca to real-world charitable causes on a quarterly basis.

    Where exactly will the funds go, you ask?

    As scuba divers, we were excited to infuse our love for the ocean into the Orca brand. However, we’re also aware that the future of our oceans is at great risk from rising water temperatures. We believe that climate change is the most pressing issue facing our world today. Therefore, our first donation will go toward a cause that both protects marine ecosystems and fights climate change — and we’ll ask you, the Orca community, to pick the recipient. More to come on that later this month!

    Accelerating the creation of value

    One key purpose of a governance token is to accelerate the creation of value, so projects can compete in a rapidly growing ecosystem. At its best, a governance token is a beautifully meritocratic way to encourage contributors to entrust a protocol with their ideas, talent, and hard-earned liquidity. Crypto is becoming an increasingly integral part of the world’s economy, and we believe that DeFi offers the opportunity to create a more equitable status quo. For that reason, we are targeting the gradual decentralization of Orca on a 3-year timeline.

    We’re incredibly grateful for all of you who have contributed to Orca’s growth so far, and we’re excited to share a piece of Orca’s future with you through the token.

    Mechanics of a Fair Launch

    These day, the term “fair launch” gets thrown around a lot, but each project uses it a little differently. When we say fair launch, we mean:

    1. Transparency about token allocation
    2. An initial distribution that rewards existing users and developers, proportional to value created
    3. Equal opportunity for anyone to purchase or yield farm the ORCA token at the same rates

    For a high-level overview of how those principles translate to mechanics, read on!

    Initial Distribution

    For more detailed metrics and an outline of our target future distribution, refer to the Tokenomics page on the Orca website.

    As we mentioned earlier, Orca has seen strong organic growth in both trade volume and total liquidity provided since launch. We’re especially grateful to our early liquidity providers, who chose Orca over immediately realizable yields available elsewhere in the ecosystem. To that end, we’ll be kicking off the token release with the following retroactive distribution:

    The total supply of ORCA is 100 million, and the initial circulating supply is 5.25 million. The cutoff date to qualify for the distribution is Aug 2, 00:00 UTC.

    • 4,000,000 to liquidity providers: LPs take on both risk and opportunity cost, and therefore deserve the largest portion of rewards. All wallets that provided liquidity of $100 or more up until the cutoff will receive an airdrop. The amount will be proportional to their average liquidity provided over time in USD (snapshots are taken approximately every 10 minutes), which is visible on our LP Leaderboard at orca.so/stats.
    • 1,000,000 to traders: Traders already benefit from the rates and experience provided by high liquidity, and incur relatively little risk. However, they are nonetheless a core part of the ecosystem, so we’ve allocated the following as a small token of our appreciation 😉:
      ★ 500,000 ORCA, equally divided across all addresses that exchanged a total value between $1,000 USD and $10,000 USD
      ★ 500,000 ORCA, equally divided across all addresses that exchanged a total value of $10,000 USD or more
    • 250,000 to advisors: These tokens were allocated to our advisors, e^{i} ventures, in exchange for sourcing early liquidity for the protocol.

    No additional tokens will be available to participate in the Aquafarm program at launch. Team members and future investors will receive ORCA tokens on a 3 year vesting schedule with a 1 year cliff or lockup, and therefore will not be able to participate in the Aquafarm program until 2023. Refer to the Tokenomics page for more details.

    Market Making

    One tricky part of launching a brand-new token is setting an initial price. How can you determine what is a fair market price before a market exists, you ask?

    Make one!

    Immediately after the retroactive distribution, and 2 days before the ORCA / SOL and ORCA / USDC pools go live on Orca, e^i ventures (Orca’s advisors and professional market makers) will create an ORCA/USDC market on Serum. After 2 days, we’ll use this price to inform the initial price of our pools on Orca.

    Yield Farming (Aquafarms)

    Alongside the ORCA token, we’ll be launching Orca’s yield farming program: Aquafarms!

    When the token is launched, a set of liquidity pools will become Aquafarms. Currently, liquidity providers in Orca’s pools earn trading fees. In contrast, liquidity providers in Aquafarms will earn both trading fees and ORCA tokens, which will be distributed proportionally according to [the LPs] share of the pool. In the future, we plan to add functionality that will allow other projects to add their own tokens as rewards, as well.

    For LPs, the benefit is obvious. But how does yield farming create value for the Orca protocol?

    1. Gradual decentralization (through the distribution of governance tokens to value creators, aka LPs)
    2. Attracting liquidity, which improves rates for swaps

    However, not every Aquafarm will emit an equal amount of ORCA tokens. Each Aquafarm will have an emissions weight, which will encourage LPs to direct their liquidity where it is needed most. After Aquafarming begins, the following will be adjusted every two weeks:

    • The menu of Aquafarms (which pools emit tokens)
    • The total amount of tokens emitted per week
    • The emissions weight of each Aquafarm

    The initial emissions across all Aquafarms will be approximately 200,000 tokens per week for the first two weeks, with the following weights:

    ORCA Pools:

    • ORCA/SOL: 3x
    • ORCA/USDC: 3x

    Normal Orca Pairs:

    • SOL/USDC: 1.5x
    • SOL/USDT: 1.5x
    • RAY/SOL: 1x
    • SOL/ETH: 1x
    • ETH/USDC: 1x
    • USDC/USDT [stable]: 1x (…with no deposit/withdrawal fees!)

    You may observe that our initial emissions are lower relative to other projects. Many liquidity mining programs start with extremely high emissions, especially for native tokens, and a relatively short emission schedule. This attracts a lot of initial liquidity and trading activity, but that initial boost tends to taper off quickly, leaving the project dry. In contrast, we’ve designed our liquidity mining program to distribute ORCA gradually, allowing the token to support the protocol’s development over the key timeframe of the next several years.

    To our loyal traders and LPs: Thank you for all of your support thus far! We’re excited to have on board for our journey to make Orca the best general-purpose AMM on Solana.

    Let’s make waves. 🌊

    For all the hard facts about the token and launch schedule, check out the Tokenomics page on the Orca website.

    Go to Source
    Author: Orca

  • solbot

    Member
    August 24, 2021 at 12:00 am

    A personal note

    Hello! Grace “Ori” Kwan, founder of Orca, here.

    When my cofounder Yutaro and I launched Orca back in February 2021, one thing that we agreed on was that we wanted our little protocol to have an overall positive impact on the world. (In crypto, that’s by no means guaranteed.)

    Early in Orca’s lifetime, users in our Telegram would sometimes say things along the lines of: “You talk all the time about whales… but what about the saving the real whales?” They may have been joking, but we took these comments to heart. When we launched Aquafarms, our yield farming program, we saw an opportunity to embed our commitment to impact more deeply into the protocol: What if we donate 0.01% of all trading fees to charity — and encode it directly into the fee distribution?

    Thus, the Orca Impact Fund was born.

    Simply by trading on Orca, you’re helping save the ocean and fight climate change. (Even at this early stage, we’re donating over $500 per day!) However, we’d like to invite you, our community of ORCA tokenholders, to take part on a deeper level.

    Introducing: Our first ever governance vote!

    If you’d like to hear more backstory, check out OrcaPod Episode 2: Real-world impact through crypto, in which Yutaro interviews Ori about the origin of the Impact Fund!

    A porpoise-driven governance vote

    Between August 23 and August 31, each and every existing ORCA tokenholder will have the opportunity to cast a single vote for one of two nonprofits working to protect our oceans and fight climate change:

    • Ocean Conservancy: The Ocean Conservancy creates science-based solutions to foster a healthy ocean and the wildlife and communities that depend on it. Orca’s donation would go towards alleviating ocean acidification, a phenomenon in which the ocean absorbs CO2, becoming increasingly acidic and harming the natural habitats of many species.
    • The Ocean Foundation: The Ocean Foundation is dedicated to reversing the trend of destruction of ocean environments around the world. Our donation would help reverse the increase in Blue Carbon in our coastal and marine ecosystems, protecting the natural balance of our coastal habitats.

    The winning nonprofit will receive our first donation, which will consist of the fees accumulated in the Impact Fund between August 11 and December 31, 2021.

    Plus — in exchange for helping us be porpoise-driven, you’ll receive an exclusive PORPOISE Collectible. It’s been awhile since we released one of these NFT critters, so don’t miss your chance… there are more exciting perks on the way for #OrcaCollectible holders! 😉

    How to vote

    All ORCA token holders will have the opportunity to vote on their nonprofit of choice.

    • Each token holder receives a single vote, regardless of the amount of ORCA they hold.
    • Voting for either of the above nonprofits will be open from August 23rd — August 31st 11:59 UTC.
    • A snapshot of all ORCA token holders was taken on Sunday, August 22, 2021 at 06:30 UTC. All wallets included in this snapshot are eligible to vote*.
    • To vote, simply head to orca.so/impactfund/vote-1, connect your wallet, and select the nonprofit you’d like to support.
    • That’s it! We’ll announce which nonprofit won at the end of the voting period.
    • PORPOISE Collectibles will be distributed by Sep 7, 2021.

    * Ledger users must use one of the other wallets supported by Orca (e.g., Phantom or Sollet) as they are currently only able to sign a transaction, not a message.

    How we’ll donate

    Orca has partnered with Every.org to facilitate this donation. Every.org is a social network for giving; its mission is to make it easier for every organization to do good by providing the technology and open infrastructure to fundraise for charitable causes. Recently, they launched support for cryptocurrency donations, which will enable us to donate the fees in the Impact Fund with minimal fees.

    A few thoughts on governance

    Decentralized governance as a whole is still an experiment. This vote is not a representation of how future governance proposals will operate on Orca; it’s an initial small step toward a future in which ORCA token holders guide the future of the Orca protocol. As we design our governance system, we’ll apply learnings from both experiments like these and examples of governance throughout the wider DeFi ecosystem.

    Thank you for being a part of our pod! We’re excited to make a real world impact through crypto and make our pod of fellow ocean enthusiasts an integral part of the decision making. Let us know which nonprofit you’d like to see the donation go to and why on Twitter, Discord, or Reddit! 🌊

    Go to Source
    Author: Orca

  • solbot

    Member
    September 22, 2021 at 3:01 pm

    There’s big news under the sea…

    Just a month after launching the ORCA governance token, we are excited to announce Orca’s first fundraise!

    Today, we welcome Polychain, Placeholder, and Three Arrows as co-leads, along with investments from Jump Capital, Sino Global Capital, Collab & Currency, DeFiance, Zee Prime, Coinbase Ventures, Solana Capital, and a number of angel investors. These investors will jumpstart our path toward making Orca the go-to swap for the Solana ecosystem.

    “Not only is Orca responsive and affordable, but it is finance made fun, with a cheery experience, community, and broader values-based mission. It’s teams like Orca that will bring crypto to the mainstream and redefine how we think of finance in our everyday lives,” says Placeholder partner Chris Burniske

    Our team

    Orca is the brainchild of cofounders Yutaro Mori and Grace “Ori” Kwan. Yutaro’s expertise in crypto stems from several years spent building Ethereum 2.0 and implementing smart contracts at UMA. Meanwhile, Ori combines her experiences as a designer and engineer at IDEO, Coursera, and Stanford to bring a human touch to DeFi.

    When we launched in February 2021, we were a lean team of 2 with no outside funding. Since then, we’ve expanded the core team to 8, spanning three continents, broad professional experience (Google, Amazon, McKinsey, and many startups), and many hobbies (acro-yoga, music production, and swing dancing come to mind). We’re proud to be building not only modern financial infrastructure, but a thriving remote culture built on trust and transparency.

    Where we’ve been…

    Orca is the AMM you love to use. As one of the first apps in the Solana ecosystem, we strive to show how crypto UX can be truly delightful. From lightning-fast swaps and minimal fees to UX innovations like our Fair Price Indicator and Magic Bar, we’ve already made major strides toward that goal.

    We’re also proud to be one of the first protocols on Solana to conduct a fair launch of our governance token, which gave our community the earliest access to the ORCA token. Since then, we’ve reached $735 million in lifetime trade volume, $250 million in total value locked, and over 18,000 monthly unique wallets.

    “Orca’s AMM is a critical addition to the Solana ecosystem. We are excited by the strength of the team, performance, and their community focused mission,” says Kyle Davies, Co-founder of Three Arrows

    On the community front, we’ve donated $35,000 to climate change through our Impact Fund, produced a podcast, OrcaPod, and distributed 14,000 Collectibles, making us one of the earliest projects to explore the intersection of NFTs and DeFi. In the near future, Orca Collectible holders will have access to exclusive perks, including special access to upcoming NFT projects and the opportunity to stake their Collectibles to earn ORCA!

    …and where we’re going

    The earliest AMMs on Ethereum shook the financial world by making it incredibly simple for anyone to swap tokens and provide liquidity. The flipside of that elegance, however, is lower capital efficiency relative to the orderbook model.

    Our mission is to create a next-generation AMM that pairs greater capital efficiency with the simple, human-centered UX you’ve come to expect from Orca.

    Along the way, we’ll enable Community Pools, which will enable support for the long-tail of tokens. In addition, we’ll continue improving our SDK, making it easy for any project to build on top of our smart contracts. The path there involves three major initiatives:

    • Feature development on the smart contract and UI layers
    • Awareness through global expansion, social media campaigns, and NFT art projects
    • Partnerships with lending platforms, dashboards, aggregators, NFT projects, and more

    This fundraise gives us the resources to invest heavily in these three areas, ensuring everyone in DeFi has the chance to fall in love with our modern AMM. After that, we’ll turn our attention to building a robust governance system, with the long-term goal of full decentralization.

    We think of fundraising as building a team, and we couldn’t be happier with the broad range of talents and values-alignment that our new investors bring to the Orca family. If you’d like to be a part of the journey, it’s not too late. We’re looking for a Smart Contract Engineer and Full-Stack Engineer, and we’d love for one of them to be you! If you’re new to Orca, you can also try out a swap on Orca.so, follow us on Twitter, or join our Discord and Telegram. We’ll be waiting!

    Go to Source
    Author: Orca

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