- Orbs’ native token ORBS is now live on Ethereum-based decentralized exchange (DEX) SushiSwap.
- This integration brings further cross-chain functionalities to the Orbs platform.
In an exciting milestone for blockchain infrastructure provider Orbs, their native token ORBS is now live on Ethereum-based decentralized exchange (DEX) SushiSwap. This integration brings further cross-chain functionalities to Orbs platform and allows users to make vastly cheaper swaps, as well as earning higher yields by providing liquidity.
Sushiswap enables users to easily exchange $ETH for ORBS and vice versa or add the token to a liquidity pool to earn interest on trades done by other users.
Sushiswap’s model offers better incentives for liquidity providers (LPs). Liquidity pools on the DEX require users to lock an equal amount of two tokens in a pool. Rewards earned from the pool’s activities are then distributed proportionally to an individual’s stake.
Based on this model, being a liquidity provider on Sushiswap requires locking of Orbs and ETH in equal amounts and entitles the LP to a 0.25% fee, proportional to the share in the pool.
Either way, always verify the correct Orbs contract address on Ethereum before engaging in any swap: 0xff56cc6b1e6ded347aa0b7676c85ab0b3d08b0fa
Orbs’ official token fuels all activities on the platform’s ecosystem, including smart contracts, transaction fees, and consensus-based storage. ORBS is currently ranked among the top trending crypto coins by many industry data aggregators.
SushiSwap is a decentralized exchange running on Ethereum to process token swaps and yield farming through an Automated Market Maker (AMM) smart contract.
Even though it originally emerged as a controversial fork of the Uniswap protocol, Sushiswap has thrived and innovated on the AMM model and is now genuinely competing with its predecessor on multiple levels.
Now, the competitive platform stands as DeFi’s top 10 protocol and third-biggest decentralized exchange in terms of locked assets. By introducing a new interface and a farmable governance token, SushiSwap has gained over $5.5 billion in Total Value Locked (TVL).
Orbs expands interaction with Binance
Orbs is an Israeli company developing a public blockchain infrastructure designed for mass usage applications based on Ethereum.
The SushiSwap listing comes shortly after the Orbs team launched a cross-chain bridge between Ethereum, the home of the ORBS token, and Binance Smart Chain.
This was not the first interaction between Orbs and the world’s most influential crypto exchange. Earlier in January, Orbs and Binance teamed up to launch a new accelerator for the DeFi ecosystem.
Named DeFi.org, the accelerator bootstraps new projects and DeFi protocols with a greater focus on supporting the research and development of open-source software.
DeFi.org evaluates relevant projects using different criteria including their composability within the space, fair distribution, community ownership, sustainable economics and the approach to risk management.
Liquidity NEXUS is also one of Orbs’ newest initiatives for bridging the gap between centralized finance and DeFi by separating the double-sided pooling of stablecoin and cryptocurrency.
This fresh liquidity farming model facilitates efficient capital allocation by enabling users, including crypto exchanges, to participate in Defi markets by pooling just one token instead of two equivalent amounts.