Difference between revisions of "Orca (ORCA)"

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==Basics==
==Basics==


*Based in:
*Based in: Cayman Islands
*Started in / Announced on:
*Started in / Announced on: [https://www.coindesk.com/business/2021/09/22/solana-based-dex-orca-raises-18m-series-a-funding/ 2-2021]
*[[Testnet]] release:
*[[Testnet]] release:
*[[Mainnet]] release:
*[[Mainnet]] release: [https://www.coindesk.com/business/2021/09/22/solana-based-dex-orca-raises-18m-series-a-funding/ 2-2021]
*Not to be confused with the [[ORCA Alliance (ORCA)|Orca Alliance]].
*Not to be confused with the [[ORCA Alliance (ORCA)|Orca Alliance]].


==History==
==History==
Founder originally worked with [[EF]] and [[UMA (UMA)|UMA]] before getting a grant to build an [[Automated Market Makers (AMM)|AMM]] on [[Solana (SOL)|Solana]].
==Audits & Exploits==
==Audits & Exploits==
*[[Bug bounty]] program can be found [insert here].
*[[Bug bounty]] program can be found on [[Immunify]], and is $1M worth.
*Orca's concentrated liquidity product has been double audited by [https://drive.google.com/file/d/1u0ja4_3GoogVWVU9prMezDrBaqE5BxdW/view?usp=sharing Kudelski] and [https://drive.google.com/file/d/1aTNL5oZD4xXr3DIzhmonnlqYV4rkn2yP/view?usp=sharing Neodyme].
===Bugs/Exploits===
===Bugs/Exploits===
==Governance ==
==Governance ==
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==Token==
==Token==
===Launch===
===Launch===
[https://docs.orca.so/orca-for-community/tokenomics 9-8-2024] the token was issued.
===Token Allocation===
===Token Allocation===
* From the [https://docs.orca.so/orca-for-community/tokenomics docs] (8-2024):
''"20% to team'' [later 5% got again given as a grant]
''9.6% to private sale''
''4.3% to Value Add + Advisory''
''All team members, advisors, and future investors will receive ORCA with a 3-year vesting schedule and 1-year cliff or lockup."''
===Utility===
===Utility===


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===Other Details===
===Other Details===
===Stablecoin===
==Coin Distribution==
==Technology==
==Technology==


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===How it works===
===How it works===
===Fees===
===Fees===
* From the docs (26-10-2024):
''"Pools with a fee tier of  ≥0.3% have the trading fee divided as follows:''
''87% to the maker ([[Liquidity Provider (LP)|Liquidity Provider]])''
''12% to the [[Decentralised Autonomous Organisation (DAO)|DAO]] treasury''
''1% to the [https://www.orcaclimate.fund/ Climate Fund]''
''For pools with a fee tier of <0.3% all fees are paid to the maker (Liquidity provider)."''
===Upgrades===
===Upgrades===
===Other Details===
===Other Details===
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===Projects that use or built on it===
===Projects that use or built on it===
==Competition==
==Competition==
[[Raydium (RAY)|Raydium]] and other DEXs
==Pros and Cons==
==Pros and Cons==
===Pros===
===Pros===
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*Full team can be found [here].
*Full team can be found [here].
*[https://medium.com/@SenateLabs/landscape-of-pro-delegate-next-wave-of-dao-governance-f239cd8537ea Has] [[Flipside]] and [[Reverie]] as some of their professional delegates (30-11-2022).
*[https://medium.com/@SenateLabs/landscape-of-pro-delegate-next-wave-of-dao-governance-f239cd8537ea Has] [[Flipside]] and [[Reverie]] as some of their professional delegates (30-11-2022).
*From the [https://docs.orca.so/orca-for-community/tokenomics docs] (8-2024):
''"Orca’s past advisors include [https://www.eiventures.io/ e^{i} Ventures] (veterans of the [[Decentralized Finance (DeFi)|DeFi]] space), Austin Virts (Current Head of Ecosystem and [[Aptos (APT)|Aptos]], former Head of Marketing at [[Solana (SOL)|Solana]]), and [current advisor includes] [[Reverie]] (leader in decentralized governance design)."''


===Funding===
===Funding===
* A private sale took place in September 2021 worth $18M, during which 9.6% of the ORCA tokens were allocated. All investors were subject to a one-year cliff, and a two-year linear vest thereafter:
''"Series A funding led by [[Polychain Capital|Polychain]], [[Three Arrows Capital (3AC)|Three Arrows Capital]] and [[Placeholder]]. Other participants in the funding round include [[Coinbase (COIN)|Coinbase Ventures]], [[Jump Capital]], [[Sino Global|Sino Global Capital]] and [[Solana]] Capital."''
===Partners===
===Partners===
==(:==
==(:==

Latest revision as of 13:00, 30 October 2024

DEX on Solana and Eclipse

Basics

History

Founder originally worked with EF and UMA before getting a grant to build an AMM on Solana.

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

"Since January, the DAO treasury now takes ~12% of fees from high-fee pools (>0.3% rate), taking in $3m+ in fees. 88% of total 30D trading fees are driven by high-fee pools but only account for 16% of total volume."

Token

Launch

9-8-2024 the token was issued.

Token Allocation

  • From the docs (8-2024):

"20% to team [later 5% got again given as a grant]

9.6% to private sale

4.3% to Value Add + Advisory

All team members, advisors, and future investors will receive ORCA with a 3-year vesting schedule and 1-year cliff or lockup."

Utility

"When the token is launched, a set of liquidity pools will turn into Aquafarms. Rather than just trading fees, LPs in Aquafarms will earn both trading fees and $ORCA tokens!"

Other Details

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].

Implementations

How it works

Fees

  • From the docs (26-10-2024):

"Pools with a fee tier of ≥0.3% have the trading fee divided as follows:

87% to the maker (Liquidity Provider)

12% to the DAO treasury

1% to the Climate Fund

For pools with a fee tier of <0.3% all fees are paid to the maker (Liquidity provider)."

Upgrades

Other Details

Oracle Method

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

  • Orca facilitates >40% of Jupiter aggregator volume, >48% Solana DEX market share (23-2-2024). To date, the exchange has facilitated over $40.8B volume, generating $72.4m in fees.

Projects that use or built on it

Competition

Raydium and other DEXs

Pros and Cons

Pros

Cons

Team, Funding, Partners

Team

  • Full team can be found [here].
  • Has Flipside and Reverie as some of their professional delegates (30-11-2022).
  • From the docs (8-2024):

"Orca’s past advisors include e^{i} Ventures (veterans of the DeFi space), Austin Virts (Current Head of Ecosystem and Aptos, former Head of Marketing at Solana), and [current advisor includes] Reverie (leader in decentralized governance design)."

Funding

  • A private sale took place in September 2021 worth $18M, during which 9.6% of the ORCA tokens were allocated. All investors were subject to a one-year cliff, and a two-year linear vest thereafter:

"Series A funding led by Polychain, Three Arrows Capital and Placeholder. Other participants in the funding round include Coinbase Ventures, Jump Capital, Sino Global Capital and Solana Capital."

Partners

(:

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