OKX Integrates with Orion DEV
OKX integrates with Orion DEV perspective. Orion Protocol recently became the first to decentralize OKX’s order books. Users now have decentralized access to OKX’s order books using their own wallets.
Orion’s industry-first technology made this possible, enabling global access to centralized liquidity once again. Furthermore, Orion Protocol is building the decentralized gateway to the crypto market by aggregating multiple CEXs and DEXs into one place through Orion’s advanced liquidity aggregator.
Orion Protocol Flagship
The Orion Terminal, Orion’s flagship solution, combines each of these previously siloed exchanges into one deep order book, forming ultra-tight spreads and minimal slippage. Orion provides its users with the best prices for digital assets across any connected chain through its smart routing over several of the most elite exchanges in blockchain, including OKX and Binance.
Aggregating CEX’s and DEX’s
Combining this vast liquidity into one place also opens up unique and lucrative arbitrage opportunities for users due to the fluctuations in prices across multiple exchanges. With the complexity involved in aggregating CEXs and DEXs together, Orion’s developers must find unique and intricate ways of tackling any challenges faced. There is no manual to read, there is no other project to learn from. Every part of the development process is another step on the path of innovation for Orion.
“There were several developers involved, with the integration process totaling around a week but this can take longer depending on the tasks involved. Areas to be covered during integration include studying the API documentation, working with spot and margin swaps, configuration of assets and pairs in each network and finally developing the list of assets.”— Orion Dev Team
Easier To Add New Assets
The dev team comprises specialist areas including back-end and front-end teams and depending on what is involves in each of the objectives a certain number of developers may be assigned to the tasks whilst other work is ongoing elsewhere. Work allocates to handle the tasks as smoothly and effectively as possible. Ensuring the best progress in integrating the new CEX.
“It is easier to add new assets since CEX integration allows for access to liquidity on new pairs traded on this exchange. Besides this, the obvious benefit is deeper liquidity on existing asset pairs. We continue to keep adding new assets to the terminal and also to Orion Bridge, so people can make sure they are trading tokens with low gas fees. Orion Bridge is an important part of Orion.”
Adding new CEX liquidity sources opens up several choices for bringing new assets and pairs to Orion. Orion is naturally a decentralized liquidity aggregator as opposed to an exchange. These new OKX pairs have the ability to combine with assets from CEXs already implemented (Binance, KuCoin, AscendEX, and more). The result is deeper. A more robust order book of which small or large trading sizes is processing with far less slippage. Supremely tight spreads, compared to a regular exchange.
“Interestingly, OKX does not separate spot and margin accounts. This is not conventional, however, it improves flexibility and consistency of operations since there is no need to block/freeze assets on different accounts.”
Each CEX brings its own challenges and will require different attention. It depends on what it presents to the dev team. Sometimes the elements allow for a smoother workflow. Whereas, other times it needs careful analysis so it fits with Orion’s general work structure. Any integration is a thorough quality test. Through different phases before rolling out internally, to the VIP group, and then to the public.
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.
ABOUT OKX
OKX is an innovative cryptocurrency exchange with advanced financial services. It relies on blockchain technology to provide everything you need for wise trading and investment
