Home Cryptocurrency Orion Protocol Adds Even Deeper Utility To ORN By Launching USDo Stablecoin

Orion Protocol Adds Even Deeper Utility To ORN By Launching USDo Stablecoin

by Gordon James

USDo is a decentralized cryptocurrency that is stable. It is an egalitarian crypto that is backed by gold and silver. USDo is a crypto that is backed by real currencies. After the launch of USDo, the first stablecoin in the world, Orion Protocol has added even deeper utility to the stablecoin by launching the USDo stablecoin exchange. Now anyone can exchange USDo for other currencies in real time.

The Orion Protocol has recently launched its USDo stable coin, which is designed to provide users with a fast and stable way to store and spend their holdings on the ORN blockchain. In 2018, the coin will also be available to be traded on major exchanges.

We’re always amazed by the level of utility that can be added to a project by the addition of a cryptocurrency. Today, the ORN team is pleased to announce that USDo, our new stablecoin, has been added to ORN. USDo is a stablecoin that is very similar to Tether, only USDo is 100% backed by USD, not Tether. USDo is a great way to make payments on the ORN platform. It has an inflation rate of 1%, and therefore, USDo coins will be more valuable over time. Furthermore, USDo is not restricted to our platform, and can be used to pay for anything that requires a US dollar payment.

Victoria, Seychelles, 28. June 2021

TheOrion protocol is a liquidity aggregator that creates a decentralized gateway to the digital asset market. Orion announced today that its ORN token will become even more useful with the launch of USDo, a stable, dollar-indexed Orion token. USDo will become the primary base pair for Orion Terminal, Orion’s flagship solution that provides decentralized access to centralized and decentralized liquidity in one place.

Orion Protocol recently launched its own preaccumulation solution on the Orion terminal via the Orion Pool. In less than a week since launch, 11 million ORNs (~$60 million) have been locked in: 38% of the outstanding supply. In addition to lucrative rewards for betting up to ~100% APR (depending on whether holders choose to bet on a single asset (ORN only) or liquidity on multiple assets for pools linked to BNB, BUSD, USDT and ETH), Orion adds even more value to its native ORN token.

Orion presents USDo : Orion stackcoin, which is pegged to the US dollar. Like traditional stablecoins, the USDo can be used for additional exchanges and transactions in the Orion terminal. When users place ORN or ORN LP tokens on the Orion terminal, they can mine USDo – against the ORN provided. USDo will become the main base token for trading pairs at the Orion terminal.

USDo are extracted in a collateral report (to be defined later): for each ORN value of X USD deposited (collateral), the user can extract USDo worth 1 USD (equal to 1 USDo). As with traditional stablecoin models, the deposit paid for USDo is tracked by Orion Oracle to monitor the value of new mining tokens.

Instead of affecting guaranteed PRNs only when their value falls, Orion will reward USDo holders when the value of their guaranteed PRNs rises: The holders have the possibility to rearrange their position according to the price evolution. When redemption occurs, the user has the option to withdraw more Stabelcoins based on the same X-1 ratio. The strike price at liquidation now increases as the user increases their exposure to Stablocoin.

If the price of an NRS falls and the value of the guaranteed NRS falls below the strike price, the holder has the option to increase its risk by subscribing additional NRS to avoid realisation. Otherwise, the ORN stub is eliminated to protect the USDo value.

USDo will be the primary base pair for the Orion terminal and will be fully powered by ORN. Stablecoin Orion will be an integral part of the project, allowing holders of ORNs to use their capital in the Orion ecosystem. This contributed to the introduction of the ORN for striking USDo’s, which led to an increase in TVL at the Orion terminal.

About the Orionprotocol

Based on the most advanced liquidity aggregator ever developed, Orion Protocol will aggregate liquidity from all cryptocurrency exchanges into a single decentralized platform, providing a decentralized gateway to the entire digital asset market. In doing so, they create a protocol that connects the world of cryptocurrencies, traditional finance and real assets.

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The Orion Network launched USDo, a stablecoin that can be used on Ethereum’s network. With USDo, users can easily purchase Ethereum-based tokens, using US dollars. The stablecoin is pegged to the US dollar, which ensures stability. USDo is a smart contract-based stablecoin that is backed by USD reserves. It is created by The Orion Network, a decentralized trustless financial platform for participants to access stablecoins, or so-called cryptocurrencies that are directly backed by real world assets. The USDo stablecoin will be available to users of the Orion Network, where users can create and manage their stablecoin accounts. The stablecoin can be used to make payments, transfer money across the Orion Network, and buy or sell services. Read more about orion protocol volume and let us know what you think.

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