Orion Protocol | Liquidity Aggregator Protocol | BlockchainBrad | Exclusive Crypto Interview | CEO

by birtanpublished on September 15, 2020

hello it's Brad Lauren your blockchain Brad and today we're talking about all things Orion in the rift with respect to a Ryan Protocol and we have Alex Calais Cove in the hot seat right now he is the CEO of Orion Alex thank you very much

For making time to speak me today hi Brad thank you for the chance to learn to use you and we're proud of it likewise mate now in the name of transparency and also on behalf of block there I'd like to thank you Alex because

You are sponsoring this particular I guess episode of block vera and also this conversation and for those of you wondering what that means a lot Vera it's all about truth trust and transparency and we use some of the

Funds that are provided from such sponsorships to support fleet freelance content creation so whether you're a writer with the you are a content creator as a podcaster it's all about supporting unbiased content as well and

People like Alex through the sponsorship are helping support that ethos and that plan so thank you once again for doing so and it is imperative that we disclose at all times when things are sponsored now Alex I want to thank one wanted to

Go into more about the fundamentals of Orion and dig deep into what you stand for you've made it very clear when you have slogans written in your literature the first one is it states that you are liquidity and a liquidity aggregator

Protocol obviously aggregator implies bringing things together as a unifier you want to bring exchanges together but using one seamless protocol to do it and you want to standardize this with an API so let's explore this from you sir what

Exactly does this mean and what problem are you trying to solve in this face okay sure so alright protocol is liquid to go gate protocol as you already mentioned it combines multiple it's connected to multiple exchanges and

Bring them under one roof providing universal trading gateway to all available crypto markets so it yeah it must it's very important to note that we are protocol so it's not just another trading tool or exchanges it

Means that many different applications can be built on Orion protocol requiring trading oh-h-h functionality such product will be built from our core team like trading terminal decks lunch kit she was quite in and others which we can

Talk more yes I really would like to talk more at that on those points of the trade and any other functionalities as well yeah yeah so actually what our protocol trying to do to solve our problems we identify the number of

Problems in crypto trading that exist now the most important of them is security problems which means that user needs to transfer the funds to some trusted third party and that third party like centralized exchange is frequently

Checked it's the one of the major problem and actually it's a ideology from the eternally it's quite weird that we are trading decentralized entities on centralized exchanges so thousand big problems that exists it

There are too many changes right now and for end-users quite difficult to say to choose the best one some tokens some of us it's easier to try to non-us on one exchange from another so this multiple accounts is management of this multiple

Consoles quite difficult it was for funds and liquidity on one exchange can be not enough especially when we are talking for contrasts out of first tents and it's really interesting also Alex because you're

Listening to the people I think because many of them are complaining about these problems often saying wouldn't it be great if we had some sort of mechanism that is a one-stop shop for a price discovery for aggregation of various

Exchanges and most importantly through the sex and the decks in terms of cex centralized exchange and dxd centralized exchange you're bringing those worlds together you don't discriminate in that sense now you also explain how you do it

Through order splitting you try and find best and most optimal price by essentially having a wide spread so can you talk us through the mechanisms how you do this and why it's beneficial you know why is it so useful to have access

To multitude of different exchanges and then once again use that price cutting process mm-hmm yeah internally Orion is built around to the concept of aggregate aggregator ultrabook we unify orders from different connected exchanges and

When new orders come to our eye our Majin engine I can split this order and find the best route to big the huge it of to each of his part to be executed to find the best possible price on the market though after splitting and

Choosing the basic changes also Orion search for the broker or liquidity provider or we called it which will execute this particular part of order on a specific change after that we combine on all trades for this part and does the

Whole order can be executed right so you really optimize it for the trader but you mentioned before a very important part and that's the matching engine itself the Orion matching engine how can we ensure that you have one of the

Better products out there when it comes to matching engine technology because that drives the success of the aggregation yeah so our much Mangin is connected in real-time to to multiple changes and the

Number of this exchange is not limited because we have intermediate layer of connectors each connectors connect provide connection to specific change and we and our machine engine analyze not only prices from this change but

Also available fans from different brokers because example you can have the best price for tedium right now on meetings for example but maybe there is no not enough first of all for brokers if you want to delete large orders

That's why we take into account all this information like price order book depth and available funds and all this calculated in real time and we find the best route for executed Europe the order I say so calculated in real time

Requires a reasonably fast process once again harping back to the matching engine is there any way that you can evidence the technology in terms of being performant making sure that it can be done in real time there's no lapses

The latency you know isn't an issue and how transparent is for example the technology the code and when it comes to anyone when to assess the value of what underpins Orien as a protocol yeah sure we did already some testing testing for

Measured measure our raw output latency and it shows a latency of Orion platform or run protocol for one much ninja quite low it's around 50 to 100 milliseconds I had Oliver happen yeah for the cryptocurrencies it's very

Actually yeah very very good numbers and also then in transparency our imagination build open sourced and so countries but part of our court already on github part still private but eventually will do all open source and

What's also very important is that different margin engines or marshals can be run by different participants so complete community members can choose to run their armature and all the smashers is united in common network and they can

Share orders so transparency yeah it will be completely transparent all this mechanism right now Alex you have been in the space for some time Orion has been around for some time can you give us a bit of a quick rundown on the

History in terms of development from when you first started building this so we understand this is not just a sudden startup that's emerged today but this actually has a bit of history as you built the tech yeah exactly it's not we

Have come a long road already because me personally I am in book chain since 2015 I started with waves platform and built one of the first and major decentralized exchange right now a base decks it performs very well now it

Provides the user experience compared it to the ordinary right so Isaac change so users current even mention even distinguish if they trading on the decks the waves decentralized take off on some centralized take some slight finance but

Still the exits were popular for its the future I to believe in there all the APO digitalization and the future but we can't ignore the part that's the most quiddity still on centralized exchanges

Exactly and if you if you're talking about institutional traders or some Enterprise client that wants to diffuse large orders through we need to utilize all available in quiddity as that's what i Orien is some intermediate solution

That brings that which these two worlds one revered brian alex it seems like a logical progression to be honest when we have the emergence of several exchanges and you mentioned before arguably there's just too many exchanges out

There to cope with the the already very questionable degree of real volume out there in the crypto space a lot of competition for the the volume and try and exchange trying to capture the attention and the liquidity so the

Question I have for you is why hasn't something like this emerged in the past you know take it say for example post 2017 in that boom why weren't there more exchange aggregators and why weren't there more protocols trying to enable

This do you think yeah actually I have some answers to this question because I am as a developer would I change can complete their shows that building a one particular exchanges less difficult is easier easier than built a segregated

Because yeah for the data request different aspects so all this connectivity should be for the monitor should be properly managed so we're first all its technical technically not very easy but we have

Solution for this same technology also evolving among different changes all the genes are rapidly developed so new functionality arise it makes a well make it available to trade more secure and in

More sexualized way and also it also provides for more financial trust I suppose because you can spread that the initial that individuals position when they do start to engage with exchanges it's it's more financially beneficial as

What I'm trying to get at now I wanted to ask you about your experiencing waves because you mentioned that you are one of the key founder founding members of that that framework of that of that decentralized exchange

Would you have been able to do this aggregator this exchange a greater had you have not had that experience do you think yeah sure actually we will really build this major components of our aggregator so they already working in

Our better in outrage in terminal so sure this aggregation and also with such projects that we have partner right now like one chain like Ho Chi they all for example one he have Christine transactions has their trust level

Citizens so we want to utilize this technology from different projects and also I must say that Iran is using the cutting edge destroy technology like atomic hopes like staking site and through being such

An other promising technology like over like lightning but some of the technology are still to be completed because they have someone in progress for Orion will use utilize all this movement modern technologies right now

We choose the most way that we see Azzam will be the most useful for end-users like using a proxy proxy tokens for all settlements settlements for trading mm-hmm right well I want to just jump in for a moment let's talk

About those partnerships you mentioned because quite sincerely a lot of the times when we see partnerships emerge in the crypto space immediately I question whether or not that's a genuine partnership whether that's meaningful or

Whether that's just for superficial means to pump their price now you mentioned some very prominent names especially one that's hollow chain and you're working with them yeah one chain you mentioned as well can you tell us

What the true nature is of these partnerships now what do you actually fundamentally plan to do beyond just simply announcing the partnership what's the real long term plan yeah for whole chain for example we are

Building some of core models of Orion on polishing technologies namely it's Ryan the broker settlement model it built on a unique feature of hollow chain like we shall keep the credits accounted system it's kind of double ledger when you

Store debits credits on two different party parties local chains and yeah it's technology allows very easily and very easy to create and implement our settlement logic between different parties so we choose this this platform

For building our models but besides building models we also integrated of the whole ecosystem all change projects other projects even for change will be listed on Orion and zinnia thinkin's right so in that respect you

Got you're integrating your technology your services into hollow chain and then there's a reciprocal benefit because they're also going to enable like well you're going to support their apps as they call it the applications that

Essentially they are accepting in their ecosystem yeah exactly that's really interesting because that was one of the reasons why I wanted to speak with you because I did read into that partnership hollow chain does have a very strong

Reputation in the space so you must be very proud to I would assume without trying to FOMO because I don't like that sort of thing but again once again there is a distinction between certain projects and others hollow chains really

Trying to be that agent centric approach they're not going after you know a pump and dump type coin you know rub but rather represents some sort of stability in the the unit of account or that what they call hollow fuel that represents

And drives our ecosystem so once again you know you're partnering with something with an entity that's trying to being here for the long term what does parties yes you're asking sorry it's just the point it's just really

Discussing this in terms of their confidence you must have because you're partnering with another entity that is not here for the short-term game yeah sure yeah poaching have great communities and they have their own

Region on the further development of old centralized locations and decentralized finance yeah how few you mention we use actually we use ideas of ecology in our settlement models also so it will be very natural for us to integrate both

Yule and trading and other projects I say right well let's explore a little bit more about the need for Orion because obviously this will help the listeners understand you know exactly what you're

Trying to do and that it's really use an application and use case for this and we mentioned some of the exchanges sorry rather that we mentioned some of the problems inherent in just having a single exchange approach some of the

Things that have been mentioned in in reading about you are you mentioned there's too many exchanges there's multiple exchanges the the high fees these are things I do want to touch on because these are really pragmatic

Problems when I say for example want to engage in certain exchanges it can cost quite a lot depending on which exchange that I actually choose so can this be a genuine cost saving approach by having this exchange aggregation model yeah

Exactly fees is a major part in trading and this fee fee model constantly changing on different exchanges so it's not some solid part but still Orion will be will become competitive in terms of film free

Model bye-bye different reasons first reason that we use this aggregation as brokers who execute orders on traded have much better feature tariffs compared to ordinary users so almost all exchanges

Provide discounts for such large volumes traders that is it's it's just gains that users receive second we we will we have some partnership with some changes already that can in brilliant as it can give a special discount also in term of

Three nice teachers if there for a second has it been difficult to engage with some of the top exchanges with regard to quiddity because you know obviously the term tops subjective and I don't want to

Suggest that certain exchanges whether they're centralized or decentralized are better but look what it is king when it comes to exchanges have you had a family any barriers to try and have conversations with some of these major

Players when it comes to liquidity to forge strong relationships and strong garnishes actually actually we don't compete for these exchanges we just bring the them on some easy-to-use platform for user the question is have

You found that easy to do given that you're aiming to have that one singular API that you know essentially works as a one-stop shop have you had any barriers to discussions and an access to the decision-makers with these predominant

With these dominant exchanges in the space whether that be finance for example or crack in whether that be plone e.x whichever ones that you're engaging with has it been easy to have the conversation of inclusion actually

From a technical point we don't need any special special services from that exchange we used as public DPS regarding fee some discounts it also means mutual beneficial because we bring volumes who left exchanges they give some special

Discounts so it's actually as its mission official so there is no big problems and we don't require any any efforts from that exchanges and also very important that all Ryan can be useful not for new or emergent exchanges

To enhance a liquidity for them we are building the problem as a product called liquidity post plug-in but also existing since can utilize liquidity because for some part for some changing pairs there isn't that can be not enough

Liquidity and they can also execute part of order comes around and the remaining parts sent or arrived so every every exchange can also benefit from from around for their users right now in this sense you mentioned that you're quite

Supportive or bullish on a greater sort of market share being seen on decentralized exchanges the DX as we know them given that you are essentially still supporting all of them do you think that over time the performance of

Dex's will improve because of your protocol whether that be the bindings decks for example or other dexter's we see because right now comparatively the performance objectives just hasn't been the same as the centralized exchanges

You are part of the reason why this could change in this direction and not only because of speed but because of liquidity because as speed many different Blue Team projects emerge trying to solve this problem with

Transactions number from transactions speed of transaction so it's more on relies on underlying blockchain that all settlements happen for example there are I can mention some projects that we already in deep talk in the discussion

About using the public exchanges settlement between on write like around and as a project that specifically target on this highest output of transaction per second yeah and also

Just imagine one thing in addition to FIFA mobile that fee is not is not all that the trading maybe more important is spread between buy and sell orders in the terms ran not only provides the same or lower fee but also gives the lower

Possible spread between violent sell orders even providing arbitrage opportunity when even an arbitrage even that minimal spread that's where the real trust and value can come in because that's something that cannot be done

Easily when you just more work in one exchange so that in itself that aggregation is the asset and obviously there will be other protocols come forward that try to do something similar but you made it clear that it's not easy

To do and the fact that you had this preceding experience with Addicks it's it's really quite I think important for the listeners and including myself even to understand you didn't just come in with an idea but you have that backing

With your team now with regard to clients Orion clients and want to understand that a bit more if we could go there because there are specific ones you know mentioned such as market makers institutions I use H of TS you know and

Also sectors relate to that whether that be large retail small exchanges even so can you talk us through clients you know who you think are going to be the predominant users initially of this aggregator yeah actually I Ryan started

Both both markets retail and to be sectors when I am talking to be I mean that Iran can be useful for some party projects like exchanges or like projects that needs to runs around X's on the native blockchains for them we

Identified and already developments some products for this the sector is it profit for example Dec 16th when project Canyon runs around Texas in terms of maybe weeks no not monsters also ability boost

Beginner as already mention is a plugin that will allow you know it changes to enhance their order books with orders visible from Iran and from end users area they will note if no changes it will looks like all this orders on the

Particular exchange but internally I do it this begin will allow and it will be fully customized customizable and will allow to secure some of part of ordered internally part it's only very limited and also we have interesting feature

Called Iran and frustrated it's a for project that have enterprise clients and also require that requires to make the cute watch order elect volume orders and Iran give algorithm algorithmic more mobile Liu splits this large order on in

Parts and it could as a year is delays he utilizing all available liquidity so this to be sector is very interesting and we have already several many requests for use and from our list but also product like trade trade internal

That already in better and can be test try identity we are our website it for ordinary trader for retail users can start trading right from their pod wallets idolizing lies in drop our the trading

Terminals ready to go right now it's it's accessible it's a yes time yeah it's it's still in in in test intestine right now but we want we're going to around pilot pilot parish by residential this

Year in my net public my net early next next year and it's the first products that we completely focused right now because the it it is a show shows the power of Ryan protocol in general right well you mentioned before about the main

Net coming you know in the beginning of next year as I understand or you know certainly down the track this year in relation to some of these partnerships you're mentioning such as Elrond for example can we talk a bit more about

Prospective partnerships or those are in the pipeline again not to FOMO but it's just to give the listeners an understanding and myself about the kinds of partnerships you're cleaning out that and what they actually mean you know are

You going to replicate the kind of real use case a real reciprocal relationship and partnership that you forged with hollow chain for example with other startups with other blockchain based initiatives and you know what is what is

The basis of them yeah when looking for button first searching for some cooperation and facilities and to make symmetry of our efforts in trust in cross chain transactions and across because yes several projects trying to

Solve this problem and since program it's not not easy there are many many approaches to them so yeah for sure or two to solving is probably want to partner with different efforts of other projects like around like rhonchi

In terms of in terms of products products for end-users we also taught negotiation with projects that provide some services like lending from Helles network projects oh we want to a partner from technology technical

Perspective with products that trying to improve the speed of block chain and at Ultra state cross chain interoperability and also looking for partnership with sub party services that can also be integrated in Orion and can be used by a

User so I already said I say good to see any more days I'm solving in the coming months sorry it'll be good to see some of these unfold some of the other subsequent partnerships coming forward that we don't yet know in the coming

Months as you move towards Maine there several know right now I'm going to ask you why are you you know moving through the process and now of the listing of the private sales you know what maintain it yet is there a

Reason why you started to make these moves now rather than later when you have the main net functioning and you technically would have a negative token at that point we do it in parallel so we continue development but as I as I

Already mentioned that did different different parts of quraían we have different projects and tifos team that we can work in parallel and it depends on the amount resources we can allocate on these different streams and the more

Resources the more rapidly we can deliver entrant products so that's why we decided here to to brand private seller now mm-hmm and to speed up all activities and because all these products that are mentioned can be can

Bring value right now after after they will be released and be available for was for such parties and for other customers so can we use now given that there's a lot of conjecture about actual volume in this space at the moment as

Well Alex are you concerned at all about the fact that some of these exchanges may not actually have credible volumes are you concerned at all about the overall problem of fake volume as well especially in the light oh for example

In market cap there redressing some of the means in which they assess real volume and they're going to essentially align that in the way in which they numerically show starts of value so are you concerned that we don't really know

Exactly what is real what isn't at the moment and are you supporting more true volumes yeah sure it's a concern but it yeah the rainy season is not very vulnerable to this because we use real order book so we use one from order a

Book not from aggregator trade trade so and technically it internally all changes have different ApS for completed trades and for current order books so we relies completely on the existing order and either and we more exactly

Focuses know once the car was a particular exchange volume have right now okay run I guess that we have more exact and more precise volume estimates then than other sources like open market cup can receive because they

Use other types of wait guys yes I will be more more exactly motor size okay that's good to know now currently with regard to the collaborations that you've forged in the centralized domain you have companies

Like by next finance rather crack in Corby BitFenix bit tricks and flown e^x you know that you are from my understanding you have had discussions and and working with them decentralized obviously waves given your experience

And position oh uh x which shares ethers ill so i DX there's just some that I've written down from the literature now are they either are they the ones that am I correct in saying they're the predominant exchanges currently or have

I missed some when are there more coming that we should know about actually yeah all those changes will really create a connector for them and it can enter connected to Orion we can receive and control to all these exchanges orders

Automata folders but as they may be mentioned we have this connector layer architecture that provides very easily to develop to create your own connection to some other exchanges and it can be done not only by our core team but also

By third-party developers so can contribute this connector and it will be so new change can be integrated very easily so this is list for sure is not extensive and will will increase quite rapidly

I suppose especially when we create special tools or validating this connector so he our effort to basic operation is septic project we were development this development this tool that can easily

And automatically validate connector to satisfy all the requirements for iron and can be easily integrated yes we've actually spoken with the CEO before and they focus on verifying formally there are fine certain processes and protocols

So it's good that you are once again aligning with those sorts of parties now with regard to the process you know someone who's very familiar with this could you talk us through this as if you know no one has any understanding let's

Assume that for a moment and give us an example of how the process actually works from beginning to end if we're talking about a smart contract process to transaction using our RN obviously as the fee system that governs the process

So say for example you want to send some BTC or you want to see and send some sort of digital asset what would be the process be to make the exchange aggregation process nice and easy yeah also it needs to know to mention

That in Orion we completely committed to the ad idea of non-custodial that utilize finance so that we don't store any funds of users so it's our first and main idea that's why we allows trading from right from the wallet so how how we

Actually as opposed in his words exactly wants to buy a serial informative for your bitcoins yeah that you your cold wallet okay but you need to to change your native tokens or proxy tokens on some underlying blockchain

That we use for settlement and for of this proxy proxy tokens storage all Ryan self is watching agnostic so enjoy watching can be can be different so we really not worked for so for one specific gene for example we already

Tested ways platform available chain right now we integration to one chain blockchain so for if we talk no for example let's say settlement a settlement Bob chain is one chain so you exchange your Bitcoin to proxy W BTC

Bitcoin hmm and it happens in atomic swaps in completely the despised wave without trusted third party so you you walk your native Bitcoin to smart context and you you receive proxy taxes in exchange you

Know in the in atomic weight so order an order matching process yeah well and after after you receive this WBT he you can send orders for different trading pairs for example buying if they don't buy an ripple bond

Any other and as you create the same order first that you get used to in centralized exchange and sign this order with your private keys of your own account and this entity order entity is integer on blockchain so it's used in

Smart in exchange smart contract so there's a record of this completely avoid a blockchain and it's important you know you you've explained you're not a bank you don't store any funds in any way

You're just literally that that agent when it comes to the party the conjure between the the transaction whether the party that's doing a transaction and what looping back to them while as they try to essentially exchange one of their

Digital assets for another hmm yeah so Orion is computer after after the procedure Orion utilized peer-to-peer trading models so it just finds finds the different parties who wants to exchange

Is their assets yeah after after the after the refunds find each other settlements and exchanges as it happens on blockchain in also without with dissipation of Orion so we have some central central components which still

Can be can be distributed and decentralized by running different instances of them but besides it all other transferring funds or exchange happens typically one blockchain yeah just right that's good to know so thank

You for explaining that process now one of the things that I was reading into I didn't quite understand I still don't entirely is your inclusion of ayios onto your platform in that you're going to enable essentially how I use to launch

Now given that you're a platform oh sorry you are a exchange aggregator can you explain to us how this additional aspect of your design is going to work Court is yeah actually it means that because we have our own internal much

Nandan so we can also provide functional just listing you acid no new tokens so and after leasing and already mentions that we agreed to list projects didn't whole chain already and many other projects and also be listed on a ryan

And after least they receive access to all available liquidity on set right head so this listen mechanism is available because of our our arm turn much linden and also maybe some probably some of

Further negotiation with particularly things about iOS also but can I ask you though can I ask you why you want to do it will there be a significant financial benefit to a Ryan by enabling the launching of

IOS with your protocol for example because to use the word launch we typically think about either a decks on their own or or a centralized exchange more predominantly but in this instance you know naturally we think of

Aggregation as a protocol that acts as a means to engage many so when we're talking about you facilitating is as a protocol does that advantage your you'll start up your team in terms of revenue I mean what's the real reason why you want

To support the IAO in this way mmm-hmm okay so there is advantages for Ryan for protocol for stakeholders for token holders because first of all iOS and other trading is his generation of volume of trading

Volume and for which this volumes Ryan and March are engines layers received as a part of transaction fee oh for sure yo is increasing volumes for publishing fee also will be received additionally listing will require heavy or iron

Tokens and also voting for different projects will be possible with Orion tokens so completely all the certainties in in and complete alignment alignment with other features and services that can be used with our internally each I

Say and and does it concern you at all Alex that son of the startups that have decided to use the IO as a mechanism for marketing and Lloyd to essentially initiate their presence in crypto are you concerned that all the time it's

Really just a means to gain capital to you know garner support but more importantly make money as opposed to really just starting to showcase their technology to enable utility doesn't worry you what some of these ideas have

Actually done in the past of course of course if tokens I'm not into integral part of the whole ecosystem adjust and just some sort of attraction funds yeah for sure it's it's a big concern that's why the West's

Traders should completely understand the purpose of the token that how it will be used and right now there is not too much real applications of it killed tokens we know some success stories like mean be bought my Nance

Tokens and that's why we use also the same model when you when one of the main main use case for token is paying transaction fee is completing a natural use of token other applications first should be investigate more deeply one

And do you discriminate at all in your process or because as you mentioned before you're agnostic do you not get involved in which list in which do not because once again you are that fundamental exchange aggregate of

Protocol rather than an exchange itself we provide more technical platform and protocol and concentrate more on technical aspects some sort of moderation and other should be my perspective should be driven by

Community through transparent process of voting no for discussions so we only facilitate this activities but not what don't plan to somewhere I say yeah I try to understand now the team itself I really wanted to talk about that in

Detail now you as a CEO I have a look at your credentials it's clear that you had experience in this whole sector particularly with regard to building out the matching engine you've proven that you've got some experience and

Technologically in engineering wise but then I had a look at some of the other team members and I don't want to just explore this because two of the members of your core team are brothers and they both work in the business side list so

The CEO we have cow we also have a director of communications and that's Janusz as I said brothers you also have several others who are more engaged in the engineering side but not a huge team you know that's very clear to me and you

Do have a head of business Eduardo his head of developed business do you feel like given the things I'm talking about that you have a strong enough team to start this yeah for sure very a team with good expertise in

Different aspects so part of our team very experienced in business relations and operations like mission call and image also we have Edoardo that no knows how to manage development activities and he very keen in all this I did IT

Management stuff also me talked also because if you have found it Simon as well and Sam yeah they experience in blockchain is especially for development Brian hating him or wallet functionality so we completely all need we have we

Have all that we need right now but for sure we will increase our development team we go and we plan to increase it significantly very to to allocate 802 code to concentrate on different products I guess the main thing I want

To ask is is the team first and foremost about attack or you know is it focused more on business and development because obviously sometimes we see startups with chicken before the egg you know and it doesn't quite make sense so in having

People like for example cow lady out as a CXC the CEO you have a lot of business representatives underneath that do you have substantial technological support engineers people who really can help you build this fundamental protocol and keep

This going as an active successful protocol yeah exactly in fact they first first we concentrate more technology and that's why we didn't software we already building working working better and to

Show how how all protocol will will work so 51st our first focus on development on tactics context side business development right now is interesting more for cooperation for finding partners partnership and because the

Project looks quite big actually because it touch different different areas of this whole ecosystem mortal change we won't utilize as much as possible other projects and for example this Atomics full functionality we started giving

Ourselves and we have some in padre posit ori but we find for example that the same idea might be the same techniques used in one team that's why we want to use the expertise another state more on on providing value to end

Use myself and also allows you to capitalize mean on others that have spent the time in building their key assets technologically so that you can align and fast-track your own development with advisers i want to ask

You that because has some pretty big names one of them is the director of communications and that is David Atkinson from hollow chain and then you also have the daemon and my apologies for the mispronunciation but jinghuan

Yeah who is the chairman of digital asset firms now you have business interest gear you have theses essentially but the big one was David Atkinson for me to have him on board and advisor what does it mean yeah exactly

Kevin Kevin David on board is a big corner for us he helps us a lot in enjoyin us in the right direction in ink to help us building with polish in community and the in no not all skin but also he drive us in in right direction

In a to meet to meet our main goal to create to become the project like Bloomberg for crypto it's our main goal and general a general idea to provide all in white all in one a platform for the Deaf II deaf but for right now with

The advices I want to ask you just for in the name of transparency because so many sons do not disclose when they pay their advisers and I I remember in the ico period and even i/o we saw many many academics big-name academics from

Stanford from Harvard from Cambridge from literally the corn canal a lot of them were paid quite simply to have their name attached to a start-up and they didn't disclose many of the talent many a time that that was the case now

Are they are your advisers as part of your token strategy are they paid as part of the process actually we don't we don't want to put some someone on site just for the name we want to everyone to contribute to help our project that's

What I all love our mender members bringing real value to the project allocation in our yes I saw that 10% I think set aside for advisors that's why I wanted to ask you directly yes so so sure some so our advisors receive some

Token share we don't be direct directly to them okay hello it shows they get because but I do appreciate the transparency because it just doesn't happen enough and and it also helps us better understand

Their position so what you're saying is that these advisers are set up so they are supportively token allocation over time but they're incentivized to be a part of this project long term for sure it's it's a kind of participation is a

Whole business so every interested in long term during a period also for securing our investors we implemented reached old mechanism which secured yes I'm definitely going to talk about that bridge troll because that's certainly a

Very interesting topic at the very lace but I want to just quickly recap on your core features before we get into some of those things now one of the things we haven't perhaps talked enough about is your shared liquidity pool why is that

Such an advantage to have that designed or built into your system yeah Boo is one our unique unique feature and what provide to our users is that you can utilize this pool for executing order on a particular change so you don't need to

Open accounts whenever exchanges that connected to write you you just need to to have your arm on you called wallet it's a trading but to meet your order and to fulfill your order or and just find the best broker for the current in

The current time who can execute the order this main idea of rent because from from one part you just trade peer-to-peer with for example traitor and broker and after that broker immediately executes control order

Inverse order on the particular exchange on his account from his account on this exchange that's why he has its particular broker don't doesn't have any risk of price for generation

He completely secured his position but still providing liquidity provider assets to initial traders who initiate the order yeah so this society is Orion just bring on together a traders who wants to trade efficiently with a low

Fee with the best possible price in the market and the brokers which providers who wants to receive guaranteed revenue you know for shootin orders unknown changes but Khurana okay that's why we allow us to broker also to generate

Revenue and what we want to achieve right now that mean quite big fans of storage on control exchange right now and not all of them are active actively used so not every users trade every day but we want to make this money work but

Because we implemented completely riskless mechanism also making money award and receiving your guaranteed income for the owners we see as this activities from different exchanges right now for example announced they

Said the users can lend their funds to margin trading but we want to make this more transparent and want to attract more broad audience chose into this field because we want to every know not only users from finance

Or from others but from any exchanges to join this pool and to be polar to be able to execute orders and CNG guaranteed fear right it's a big deal and obviously that expense that's part of the wider Orion ecosystem which

Includes I've just written down a few just for a quick recap because time things like we mentioned the audio matching engine then the multi currency wallet again that share liquidity pool crypto Indus indexes and their portfolio

Manager so for those who want to know more about that the replete nurse or that the holistic nature of the ecosystem certainly look for a lot more into Orion into the literature now other modules also exist as I understand as

Well more modules just for Standardization such as the portfolio management tool which I mentioned story storing tracking crypto and index management's profit loss calculations can you tell us a little bit more about

Those modules because of you know a lot of people wouldn't know that you're building other things into this system yeah fully fully management sophisticated portfolio management – actually it was something that we

Started the idea Ryan but later understands it much from the many different other applications can be built on the same core models so yeah portfolio management is just just another products on top of Orion

Protocol it will allow us to easily for your users to easily to track the the investment to easily buy store in equip tasks so right now for we concentrate more on core components on protocol protocol components and after that many

Are the interesting applications can be built on top and we're looking forward to seeing some of those and in as I said in the ratings of John I can see indicators of that now one of the things I think is most important to ask is we

You alluded to the complexities associated building what is and in exchange aggregator but there's also suggestions through your comparison chart that you have that others are trying to do some some things that are

Similar so I've written them down the names of those that you are listed as potential competitors let's say so 0 X loop rink IVA block net air swapping and others that are listed now what sets you apart fundamentally from those I've

Mentioned and others when it comes to really driving home your value what makes you distinct and if not and for want of better term what makes you better yeah yeah comparison tables that compare

Different products you mentioned also by by different by different key features or key points of this product but twosome to sum up to recap we have advantage with two major advantages or well most of all the project that doing

This is a similar thing first of all we targeted only blockchain support right from the beginning so for example like 0 X or hoping they working on theorem only and allows to trade year C 20 tokens only we will allow the trade to cross

Chain trading right from from the beginning it's a friend so BTC cross chain etherion cross chain to court you're literally agnostic in an open to the first and the second very big major advantage is that we utilize centralized

Liquidity for doing this trading because I do yes exists some interesting projects for example that allow us to trade light point to Bitcoin in completely decentralized way but if you open the soldier book

You you don't find any don't find my much orders on this other book that's it yeah that's why it's key important to utilize centralized which and says what orien do perfectly because of its shared with

People so this two big advantage or cross change trading and applies in size color okay now now some tough stuff I want to talk about your raise so in terms of the money you've raised in the past and move into discussions on

The token if that's okay now in the past we've had a small raise as I understand and now and you're moving more towards of this private sale from my understanding you want to raise approximately three to four million talk

Us through what you're planning to do and it and give us a bit of a recap on what you have raised so far yeah we trying to have our whole campus as small as possible so it was a cold cup of taken sale four million three million

Mobile four million area familiar we did small seed round in in previous in 2018 yeah we realized around three 350 okay three hundred silky and currently in private sale round and the cup for this private sale is three million hello we

Want to leave very small public small allocation for public round you can do very quick IO after after our private private sale rounds oh but I mean okay so when I just touch on I want to touch on these things we really open this up

Now the bonus is 30% for the private sale of the 3 mil the price is no set in it's very transparent I've seen that you've advertised this information it's available and you also have a bridge toll there's a vesting system built in

This is where I really want to talk about that now move across to the public that's a mill that's 625,000 there's no bonus the token price is roughly a third extra you know

So that's understandable we've seen that in the past not not surprising at all but this is the thing I do want to understand better the bridge toll trot a bridge toll brother it's from my understanding once you list

Or once there's once the the token lists the private investors can sell if they want to add a significant loss using the bridge toll does that worry you actually it's British Bridget on mechanism limited to provide an option

For for our investors I said I was so receiver revenue receive bonus so they can study percent bonus and if they want to immediately after public after token generation after public key liquid i reinstated liquid silver the year

Through they should be a 30% which topical fee that will immediately be burned reducing all circulating supplier or on with the reason I ask is because LTO did a bridge troll I think they called it that which

Was essentially a very similar model and it was very successful in deterring people to a certain point though Alyx so they didn't sell that they were very reserved about that but eventually it was clear from the way that price action

Happened that they were some instances of selling pressure so are you concerned at all given that the market is what it is it's there's not a little not a lot of liquidity in the space overall certainly a lot of institutional money

Coming in are you concerned that this is a mechanism of protection but not a guarantee I think an easing of of protection sure and for protection too from jumping its what I'm hearing it's the first

Month and the first period and after after so is this bridge atomically enemies in in nine months for private sale and in 12 months for seed round and after that for sure Orion will more steady system and more soul or an

African will yeah I really receive after after this period the demands from other opportunities and the reason why I want to push this is because having long lock at Lockhart is a double-edged sword it creates trust clearly for those that are

There for the long term and I do understand that but by the same token no pun intended on the other side of the argument is that if you have such long lock ups then those tokens aren't presented to the ecosystem for utility

So in doing your system what's interesting is that you mentioned that at 12 months is the maximum period of time and the seed the seed investors and the private seller investors could essentially start offload at costs to

Them according to the bridge child now what's interesting is that if any of these guys start to react what is going to be a fundamental outcome is that it will increase the spread in terms of distribution of this digital asset of

This token itself so that could be a boon but once again are you worried that some of these parties because of the very volatile nature because maybe they've concerned concerned about performance that they they dumped at

Some point and affect the integrity of your ecosystem affect the security of that because obviously that the token itself is part of the trust support actually we have quite small number of seed round and private raft we also also

Consider all only strategic investors that not only gives us money but so brings additional value in terms of operation in terms of business development so we'll very selective to our investors I say well I really hope

You select carefully because in the past we've seen some that I would assume have said the right things but haven't necessarily acted after they've invested in accordance with what they've said some of them who literally have dumped

On so the the CEO is dumped on the teams and moved on to other projects so I really hope that those people who join your private sale those parties and those VCS really genuinely stand up and support you I really do because this

Bridge toll means they have choices that lockups don't allow choices and but the fee is really high in first period so they they do really care for to see carefully disabled did you did you ever consider a

Lock-up instead of the bridge toll did you ever think about just locking those parties away for some time as you were just building the ecosystem and building in technology just as an insurance policy to make sure there could be no

Major dumping yeah we considered but this bridge troll actually good feedback about from community from from investors say organizes which Tommy cannon so it's it's more for to satisfy more investors as possible so I think it keeps it

Always better to have options for pariah but you don't know of price pressure I think bridge toll has the same this is the same as guaranteed sure I think you are very bright to do it it's not an easy process to do and obviously I wish

You all the best in that approach it's transparent which I like with regard to the token though I thought a lot about this given that you're an exchange Gaeta I tried to really try and tried to really understand what is it about the

Token itself that really makes it clear that it needs to be there so could you tell us in your own words why do you fundamentally need a token because I was wondering could you actually run this without a token technically or do you

Feel that this is absolutely essential to me use cases for tokens and and several other axillary you'll use the first is the trading fee and staking stake in aid is absolutely necessary for fully for settlement between Orion and

Oren brokers and repeat providers so to join this liquidity pool and to be able to receive currently guaranteed income you need to state the minimum amount of Orion tokens and you will be able to making is the guy white settlement in

This India so you must use the talking to get there okay each way and also the means to select the best broker because we expect that because it's riskless mechanism for receiving revenue so it's some place if income might be we have

Many applications to to drain this pool and at the current time there can be many options to choose and we will select the brokers based on the stake and so the more token you state the more frequently will be chosen for executive

Orders like proof of state mechanism or competition okay so the fund of the primary utility is then in this case if you if we could say that word is taking and payments and settlement your questionnaire so it's absolutely

Necessary and it's natural the residential applications besides of which there are also some switches like margin tree like unlock premium features sister arbitrage opportunities yes I ran into

Them and you have a discount systems as well or the types also will only possible for or I'm tackin holders right okay well I mean that's the that was a big question I know but it really is important that we are always understand

That you have a real use case you have a real purpose for your token and quite simply some startups is don't need one as you know now with regard to distribution of the token once again the 40% is allocated for the token sale

Foundation I wanted to find out more about that because 25% of the overall distribution is going to that and I don't understand exactly what the foundation means and then you have the dev team and marketing is pretty much

Self-explanatory so the foundation and dev team allocations have want to better understand what do those two parties do and why are you allocated you know essentially over approximately a third it's 25% for one and twelve the other

For that as you build out your ecosystem yeah so yeah humans to motivate team members and as you already know that we are completely technical technical focused team so you have to motivated to bring new developers so team is more for

For this part of for development activities okay and horizon foundation it actually official team and foundation have strong lockup so it have twenty twelve months for team and 24 months for foundation work up so this out by which

Door mechanism so it's by the way okay so just to clarify that so this the team themselves and that these are people we see on the in the white paper or on their websites are you saying that all of the team are locked up differently

They don't and and the bridge toll doesn't apply to any of those parties yeah doesn't apply to was this for the only way for investors all right and how long did you say that period of time is four fourteen twelve months and four

Foundation twenty-four once our foundation is a resort for full development was facility or third-party development of different models and products on top of Ryan do you think do you think you allocated enough time just

Given that I know Krypton moves very quickly but we've seen some startups where they literally unlocked their foundation tokens and then very quickly after that happened there was a huge downturn in their whole economy because

There wasn't enough support it wasn't enough of that core support as a foundation where essentially there was a lock up there was a vault you know of token value really to uphold the integrity of the system are you worried

A bit at all about the timeframes or do you think you've got the numbers right I think we can we can for good roadmap in the first and second year so this is a cup of food makes sense and her guardian The Guardian are looking and dumping

Food it all depends not more on this lock you know not working but more on how a project tokens used if it Eve token has a steady constant demand for for users for customers a number of customers increase every month so I

Think there won't be any any problem for any color art yeah it's very interesting running it on on the use of product and to make us as much as possible as many products as many useful products for our end users it can be generate revenue and

Really tokens yes and I wanted to ask you it's interesting because you're an exchange aggregator you're moving obvious towards liquidity for your own token which would it mean mean work being on

Board or accepted by exchangers now are you talking at all with any exchanges or are they talking more rather to you with the prospect of listing you are you even considering an IAEA for example given that from the other side of the coin

You're going to support IAS you mean yeah actually we are going to do our public public round on ie or on we want some of exchange with of ready initiation with a couple of them so yeah we do we do small press a low IO on on

One of well-known exchanges and you know telling me which one because several options rapid now so not not finalized yet okay so are they prominent well-known exchanges a good liquidity good branding I ask you

Because some of the exchanges have not had have not been good actors some of them have been impacting for their own interest so are you doing your homework to make sure that however you enter this marketplace as a token that it's on a

Trusted exchange with good liquidity or good reputation yeah good exchange yeah I guess says that we considered on the top exchange like mid market Rick Beatrix financed some of the big bees okay it's exciting to hear what's gonna

Come and do you have a roadmap in terms of dates roughly when you think this is all going to play out post press a post private sale you know roughly when yes yeah we are going to cause private sale in September or early October and right

After set there will be a public small public round I guess you'll be so we we start to do it in November okay right well you're not raising a lot for meal yes is a lot in this climate because raising any funds is challenging

But it isn't a lot comparatively for milk implement you know you total help your total caps so now it's interesting it's transparent and I really appreciate I just think about it hmm yeah now with regard to partners we talked

About though some of the others we haven't mentioned perhaps a switch Gio well that's one we miss so that's one extra for a point of reference but in terms of milestones for the roadmap coming are there any things you want to

Mention that you're excited about other than the obvious of the listing coming main net obviously is another one but are there any big things you want to mention that are coming that are you know fundamental to the development of

Our Orion yeah fortunate for the next for the next year we concentrate on b2b products like begs to launch it and liquid to boost plug-in so after after reason our trading terminal in my net yeah it will be our next milestones and

Very important and which will evolve our business-to-business dreams with partners with other changes so until the net next step well that's exciting to hear I wanted to also ask you just directly that's okay I read through

Pitch deck of read through the white paper and some other primary documentation now with regard to the white paper itself was that a collaborative effort from the team because you know just just from feedback

I felt that at some of the time it was a bit like in a more elaborate pitch deck so will there be more literature to account is what I'm alluding to as well more information about some of the fundamentals some of the technology will

There be more PR on what you do as you build as well because I just I noticed that with the white paper you know quite frankly I thought that you know it was a starting point but there's a lot more that could be done to explain the

Fundamentals of what you do yeah right now we created focused on development code and on writing technical documentation which will be on also on our public week here so with technical documentation for developers for

Community yeah so yeah sure we completely engaged in the security I say says a lot more to come I hope that this has been you know a very informative interview for all those who are listening I'd like to thank

You as well Alex Cosco for your time as CEO of Orion I'll also like to remind everyone in the name of transparency this was sponsored and I did my very best I'm to be objective as possible but it is

Important you know Alex thanks again for supporting both myself and blog vera and I also you know I'm glad to see that there's a discussion had about aggregation means in which collaboration can between centralized and

Decentralized exchanges can operate and interoperate together cross chain protocols are now supported and you're leading out this whole startup with the protocol that is the Orion one so mate thank you very much for your time

Hopefully as you move to the next phase we could catch up again and just have a chat about the developments about the realness of this and also just to explore more of the realities of what it means to essentially be operational and

Also those partnerships we mentioned hollow chain is just one example we want to really continue the conversation of what real kind of ships can do and what real protocols can do as you emerge in the blockchain domain so thank you again

For your time yeah so thank you guys think about it was a pleasure to do because you and I and to be transparent and honest as always as possible and and looking forward to chat with you soon and to update with activities and to

Give more information as we move along to our Road and community for members please also visit our telegram Channel telegram group visit our site github telegram Twitter so any any media channels that we have we always try to

Be responsive so thank you for reminding me to mention that so if you'd like to know more make sure you look at the description below I will make sure they're there Alex has arrived you want to know more the source is always the

Best he is the CEO and there's more to come obviously for discussion deliberation and obviously the channels out there that represent our own protocol so thank you once again Alex for this time for

Your time today I've learned a lot hopefully the audience has to and once again we'll catch up soon for a second conversation for further updates and explorations of what a Ryan is doing and complaints do in the future thank you

It's useful sumo

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