Orion Money Community Update — June 2021 Recap
Dear Orion Money Community,
June was a HUGE month for Orion Money. Once again, thank you so much for all of your incredible support throughout this journey with us! We have grown from just an MVP in the Delphi Hackathon back in May to launching our first Orion Saver dApp in June.
We are thrilled to announce several key milestones that Orion Money achieved in June, let’s dive right in.
Orion Money June Key Milestones:
1. Orion Saver Alpha Launch and Upgrades
- We launched the Alpha version of our first dApp, Orion Saver, on the 11th of June. Orion Saver will be the core gateway for stablecoins on the Ethereum blockchain to access stable and attractive yields provided by Anchor on Terra. You may view our launch article here and a notable Twitter thread on Orion Saver’s TAM and roadmap.
Since then, we have received and listened to your feedback and made various improvements to the Orion Saver dApp:
- Developed and launched a mobile-friendly UI for Orion Saver for users to use on their mobiles.
- Pushed out updates to allow Orion Saver to be integrated with more wallets via Wallet Connect.
- Increased APY on Orion Saver alpha for USDT/USDC/DAI/BUSD to 13.5% and for Wrapped UST to 16.5%. These APYs will be further increased upon the $ORION token TGE.
- Increased the max cap for deposits from $5K to $450K.
- Next steps #1: The Orion Money team is prioritizing the implementation of exchange pools on the Ethereum side to reduce gas fees for the smaller deposits.
- Next steps #2: We’re also working on building an analytics dashboard, which will be released to the public after our Token Generation Event (TGE).
2. Orion Saver Audit Passed
- Orion Saver’s smart contract audit completed! Our smart contract was audited by Solidified and the audit found no critical or major issues.
- You may view the full audit report here.
3. Orion Money Litepaper Launched
- We launched the Orion Money Litepaper in the final week of June and announced our vision of building the Cross-chain Stablecoin Bank. Apart from Orion Saver, we will be developing several other dApps as part of our ecosystem, notably Orion Yield, Orion Insurance, and Orion Pay.
- The Litepaper covers information regarding our product roadmap, Orion Saver’s mechanics, $ORION tokenomics, $ORION token distribution (private farming, IDOs, Airdrops), and a brief introduction of the team and our advisors.
4. Orion Money Closed $1.7M Seed Token Sale Round
- We closed an oversubscribed $1.7 Million seed funding round which was co-led by 4 notable VCs and several Angels. The VC list includes Delphi Labs, Hashed, Accomplice, and SkyVision Capital. Our list of angel investors and advisors includes the Founder and CEO of Terra, Do Kwon, and the GM of Anchor, Matt Cantieri.
- Twitter thread about our Seed round.
- We’re looking forward to working with our investors and partners as we continue to develop and scale Orion Money.
5. Orion Money Logo Design Competition
- We ran the Orion Money logo design contest and gave away a total of $2000 UST in prizes. We were thrilled to have received so many talented submissions and had a real hard time selecting a winning logo. In the end, we chose to collaborate with a number of designers to create the new Orion Money logo.
- More details about our new logo can be found in our Twitter post.
6. Others
- Orion Money did a DeFi Summit Demo Day presentation about Orion Saver on June 17th. The DeFi Summit was an incredible event that took place across several days and boasted an exceptional line-up of speakers.
Looking back, the month of June was incredibly busy and productive for the Orion Money team. We have managed to accomplish a lot with your amazing support. July is shaping up to be a fantastic month as well, and we can’t wait to share more updates with you!
Frequently Asked Questions
Q: What is Orion Money?
Orion Money’s vision is to be a cross-chain stablecoin bank — the best place in DeFi for stablecoin saving, lending, and spending. Learn more at www.orion.moneyQ: What is Orion Saver?
Orion Saver is Orion Money’s first Decentralized Application (dApp) which focuses on providing high and stable yields on stablecoin deposits outside the Terra blockchain. Our Ethereum stablecoin deposit yields are currently among the highest available in the market.Q: How can I use Orion Saver today?
Earn 13.5–16.5% APY (eventually up to 25%) on Ethereum-based stablecoins here: https://app.orion.money/Q: When Airdrop Snapshot? When airdrop? How much? How Long?
We expect the airdrop to be sometime in September 2021 and the snapshot to be before that. More details on the airdrop process is covered in our Litepaper.Q How do I receive an airdrop of $ORION tokens?
Two ways: 1) Stake Luna to any validator. 2) Stake with $ORION validator to receive additional tokens and to support the project!Q: When is the Token Generation Event (TGE)?
We are working towards having the $ORION TGE in September 2021.Q: Can I buy $ORION tokens now?
$ORION tokens are not available on the open market yet.
We want to hear from you!
Join the Orion community 🙌
Feel free to ask us any questions in the Orion Money Telegram group. We are open to answering any of your queries and would greatly appreciate any feedback you have on Orion Saver Alpha. We are looking forward to growing Orion Money together with you 🚀🌕
