Orion Protocol announced last Tuesday, April 13, through its Twitter account, its expansion to Polkadot by integrating MoonBeam into Orion Terminal. According to the company, the Orion code has been transferred to Polkadot through Moonbeam, allowing immediate access to the Polkadot ecosystem UI/UX for Orion Terminal integration is underway.
“Orion Protocol, the liquidity aggregator building a decentralized gateway to the crypto market announces that Orion’s code has been successfully migrated to the Polkadot ecosystem through Moonbeam and is in the process of developing the user interface/user experience. for integration into Orion Terminal. As an independent protocol of the chain, this follows the recent announcements of integrations with Cardano, Fantom, BSC, Huobi ECO Chain, Avalanche, Elrond and Ethereum”, he said through an article through the Medium platform.
The company explained that fragmentation is a critical issue in the digital asset space. “This goes beyond the fragmentation of liquidity in exchanges to the lack of interoperability between the blockchains themselves”. However, he noted that while cross-chain systems are gaining traction, the industry is still too isolated to evolve to a state of full interoperability without a market-wide solution.
In his view, the Orion Protocol will provide a non-custodial gateway to the entire digital asset market, adding liquidity through decentralized and centralized crypto exchanges and exchange platforms on a decentralized platform. “In doing so, Orion seeks to resolve the fragmentation of the crypto markets, as well as the assets of traditional finance and NFTs”, he added.
It is an Ethereum compatible smart contract platform on the Polkadot network. “Moonbeam’s deep Ethereum support, including a full EVM, Web3 RPC, and supported accounts, significantly simplified the process for transferring Ethereum-based code from Orion to Polkadot. The use of Moonbeam technology also means that all the same tools and services, such as Remix, HardHat, Truffle and MetaMask, can be used in the implementation”, he commented.
Alexey Koloskov, CEO and co-founder of Orion Protocol said that “through Moonbeam, we are incredibly proud to add Polkadot to our list of embedded chains in the protocol. Orion code has been successfully migrated to the Polkadot ecosystem, and we are currently working on building UI / UX for users to be able to access the Polkadot blockchain in Orion Terminal. We look forward to becoming the first live liquidity aggregator built on the Polkadot ecosystem”.
For his part, Nate Hamilton, director of business development at Moonbeam, highlighted that “as we move towards an increasingly multi-chain environment, liquidity is increasingly divided into multiple chains. Protocols like Orion fill an important space to add liquidity, which also makes it easier for end users and developers to meet liquidity needs”.
It should be noted that the company highlighted that the Orion team is already underway with the construction of UI/UX for Moonbeam and a broader integration of Polkadot in Orion Terminal. “This integration is expected to be completed by the second quarter of 2021, which will bring better interoperability and scalability to Orion Terminal, along with low transaction costs, low transaction delays, high transaction concurrency, and cross-chain asset transfers”, he specified.