Orion Protocol, a liquidity aggregator connected to multiple exchanges, and Wanchain, an EVM-based cross-blockchain solution, have announced a new strategic partnership to use Wanchain’s public blockchain as an atomic swap solution, a process which is essential for Orion’s decentralized trading.
The Orion team is building a universal gateway to all crypto markets built on decentralized tech (atomic swaps, blockchain, staking, lightning). Internally, Orion relies on public blockchains to provide users with secure custodian solutions, as well as implementing reliable decentralized trading settlements.
Orion + Wanchain Technology
There are several different blockchains that can be used internally on Orion. Orion has conducted detailed studies of the best candidates and has even implemented proof of concept solutions on Ethereum and Waves. Ultimately, Orion’s team has chosen Wanchain’s blockchain for supporting escrow trading accounts along with other decentralized technologies, like Holochain; which is used now in a settlement module for connected exchanges.
Wanchain combines almost unlimited possibilities of Ethereum Virtual Machine-based smart contracts with first-citizen cross-chain transactions. These features of Wanchain allow high levels of interconnection and interoperability between different blockchains. Wanchain’s Storeman node system uniquely combines atomic swaps and decentralized account management. This is crucial for Orion to implement convenient secure trading functionalities for users right from their multi-currency wallets, without a trusted third party.
The partnership will see Orion deploy its high-performance matching engine on Wanchain to serve trading and exchange functionality on the Orion Trading Terminal multi-currency wallet. Special purpose WAN smart contracts would then perform peer-to-peer exchanges of different crypto assets between traders in a completely decentralized way.
Mutually Beneficial Partnership
To establish a mutually beneficial partnership, Orion will be able to use Wanchain’s PoS as a staking mechanism for Orion’s shared liquidity pool of brokers, providers, and market makers that fulfill orders on a trader’s behalf. This mechanism will enable a fair model for distributing orders from users to different participants of the pool. Orion will also be running one of Wanchain’s Validator nodes once it officially transitions to Proof of Stake.
“We are proud to partner with Wanchain and integrate their public blockchain for Orion decentralized trading. Wanchain cross-chain transactions and Storeman system ideally fits in Orion’s custodian and settlement protocol and will bring unrivaled technology to the whole Orion ecosystem.”
– Alexey Koloskov, CEO, Orion Protocol
Previously, Alexey was involved in the development of the Waves Platform, as the creator and chief architect for the Waves DEX; the platform’s flagship decentralized exchange.
“We are pleased to work together with Orion towards improving the user experience for atomic swaps and working together towards faster, more secure and more liquid swaps of digital assets between all blockchains. The vision at Orion is very similar to ours in ‘connecting the world’s digital assets’ through a seamless experience.”
– Jack Lu, CEO, Wanchain