Orion Protocol partners with IOHK to become the first liquidity aggregator for the Cardano blockchain as we can see in our latest Cardano news.
After establishing a new partnership with the HUOBI ECO Chain, Binance Smart Chain, Elrond, Avalanche, and more, the Orion protocol partners with IOHK to enable the sustainability and scalability of the NFT and DeFi ecosystems on Cardano as the company said.
After becoming extremely successful last year, after the launch of Cardano’s Shelley, and picked up the pace in 2021 with a slew of new launches and announcements. The latest major news that came out of IOHK, Cardano’s parent company marked a huge milestone for the blockchain platform. The company partnered with Orion Protocol which is a blockchain-agnostic protocol that provides a decentralized gateway to the entire digital asset market.
The new partnership made Orion the first aggregator on the Cardano blockchain as the CEO and co-founder Alexey Koloskov said:
“It’s a huge honor to partner with IOHK to become the first liquidity aggregator to the Cardano blockchain. We admire and share their focus on building a scalable, and interoperable DeFi ecosystem, and we look forward to working together to achieve a sustainable future of the industry.”
According to the company’s official announcement, Orion will provide Cardano with a decentralized entry to the market and aggregating liquidity on both the decentralized and centralized exchanges as well as swapping platforms in one single decentralized platform. By integrating multiple blockchains, Orion will give users more freedom to conduct transactions. Orion will work with IOHK to ensure scalability and sustainability on the NFT and DeFi ecosystems while Cardano’s infrastructure will be utilized to enable improved performance of the Orion protocol and interoperability solutions.
These solutions will be linked to Cardano via the foundation settlement layer and will be connected to a control layer. The settlement layer will have an accounting unit while the control one will run on smart contracts as Orion explained:
“Completely open source and patent-free, Cardano was built in a spirit of collaboration. And engineered for efficiency and scalability, the Cardano ecosystem is developing out into the most complete and most useful cryptocurrency ever constructed.”
The founder of Cardano, Charles Hoskinson stated that his company saw plenty of demand despite only being the second stage of the Goguen upgrade. Cardano still doesn’t have programmability at the base layer with no smart contracts as of now.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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