Native tokens are a common feature of crypto exchanges, both centralized and decentralized. These tokens pivot activities on decentralized finance protocols in terms of transaction fees and governance. In essence, they are either used to pay for fees on exchanges or enable members of the community to partake in voting processes for relevant decisions within the token’s ecosystem.
Orca protocol, a DeFi protocol built on Solana blockchain has announced the launch of its governance token, primed to bring true value to the protocol and its ecosystem. As claimed by the team behind the protocol, it is more concerned about accelerating the creation of value through the $ORCA Token.
Orca Protocol: Accelerating Value
Amid a plethora of projects that come to the crypto ecosystem and shill unreliable innovations, Orca is aiming to toe a different path with the governance token. The wild west of DeFi has opened an opportunity window for innovations to arrive at a fast pace. As such, it proves to be an uphill task for investors to identify projects that would not stand the test of time. Besides, the massive market decline in May drove lots of projects and their native tokens to the ground.
The Orca token will have an overall supply of 100 million, and an initial circulating supply of 5.25 million. Community members and investors can stake $ORCA and provide liquidity on pools and the protocol’s Aquafarms, which allow LPs earn trading fees and ORCA Token as rewards for making the market. More importantly, the token will bring value to the protocol.
Orca Facilitates $400 Million Trades
Orca Protocol is a user-friendly, composable, and capital-efficient AMM running on Solana. The protocol enjoys a wide range of advantages on the network, which includes reduced transaction costs and higher throughput. Since its inception, Orca has facilitated over $400 million trades and distributed collectibles to early users of the protocol.
The Orca ecosystem also boasts of a treasury and an impact fund, both of which contribute to the growth of the protocol. Orca Treasury acts as a Decentralized Autonomous Organization that engages in buy-backs, decisions that will foster the protocol’s scalability. Meanwhile, the impact fund will address issues facing marine ecosystems and climate with the Orca Token.
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