Orion Protocol Introduce USDo-Orion’s Stablecoin

Orion Protocol recently launched its native ‘pre-staking’ solution on Orion Terminal via Orion Pool. Less than a week since launch, an impressive 10 million $ORN has been locked (~$55 million dollars): 35% of circulating supply. On top of staking rewards up to ~100% APR (depending on whether holders opt for single-asset staking (ORN only) or provide multi-asset liquidity for pools paired with BNB, BUSD, USDT, and ETH), Orion is adding even further utility to its native ORN token.

To go deeper, Orion adds another asset to their ecosystem and its called “USDo”, Orion’s stablecoin coin. As per traditional stablecoins, USDo can be used for trading and additional transactions within Orion Terminal. When users stake ORN or ORN LP tokens on Orion Terminal, they will be able to mint USDo – collateralized using the staked ORN. USDo will become a primary base token of trading pairs on the Orion Terminal.

Minting USDo is conducted at a (to be defined) ratio on the staked collateral: for every $X USD worth of ORN the user stakes (the collateral), they are able to mint $1 USD worth of USDo (equivalent to 1 USDo). Similar to traditional stablecoin models, the collateral put up for USDo will be monitored by Orion Oracle to continuously monitor value of the newly minted tokens.

USDo will become the primary base pair on Orion Terminal and will be entirely fueled by ORN. Orion’s stablecoin will be integral to the project, allowing ORN holders to maximize their capital efficiency within the Orion ecosystem. This further the adoption of ORN to mint USDo, driving an increase in TVL on Orion Terminal.

ABOUT Orion Protocol
Orion Protocol is the first gateway to the entire crypto market: aggregating every CEX, DEX, and swap pool into one decentralized platform.

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