Orion Money IDOs and Airdrops on Terra

  • Orion Money raised $4.2+M funding from top VCs, crypto projects, and communities;
  • Orion Saver is a working product with $70M+ TVL;
  • We’re launching $ORION token at the end of September at two most popular launchpads on Ethereum — DAOMaker (announcement) and Polkastarter (announcement);
  • Orion Saver is already live on Ethereum, right now we’re working on decreasing ETH gas fees and Curve swap/bridge fees; we are also working on expanding Orion Saver to Polygon too to allow even cheaper deposits and withdrawals for an average user;
  • We’re working at full speed to bring utility for $ORION token with $ORION and LP staking;
  • And then higher APY levels in the Orion Saver app for $ORION stakers.

But what’s in it for me, says #LUNAtic?

If you’re a #LUNAtic and read this and think “I’m happy for you guys, but what’s in it for me?”, there are a couple of things to consider:

  1. Orion Money democratizes Anchor’s stable savings rate outside of Terra to other chains. We serve as a live advertisement of how great Terra’s money (UST) works — that even considering cross-chain bridge’s fees and costs — Anchor rate is still the highest stablecoin rate on other chains. Many users will sign up with Orion Saver, but also many will learn from us the first time about Terra and go to Terra directly.
  2. All Orion Saver’s non-UST deposits are converted into UST, thus increasing demand for UST and burning a lot of LUNA. We’re still small as we’re getting to a product-market fit on Ethereum with high gas fees. But as soon as we see that the system is working well — we will switch on our marketing engine and plan to get to billions in TVL relatively quick. Burn LUNA, burn!
  3. Yes, we also plan to launch Orion Saver on Terra with time. But considering that we need to focus our resources on our main target market — Ethereum — to generate the most deposits for Orion Saver and Anchor, the development of a full-scale Orion Saver Terra dApp will take some time.

Wen IDOs, ser?

And now the closest to everybody’s heart topic — IDOs and Airdrops.

  • Initially on Gate.io (CEX),
  • then on Uniswap (Ethereum),
  • and Pancakeswap (Binance Smart Chain).
  • Starterra — date and info TBC, estimate end of October (Starterra announcement)
  • Pylon — date and info TBC, estimate end of October

But wen airdrop?

As we described in the Orion Money Litepaper, Orion Money will provide airdrops on both Ethereum and Terra. While airdrops on Ethereum will be mainly used for marketing purposes — to attract new users and scale TVL for the Orion Money products, on Terra we will follow the path of giving back to the incredible Terra community.

  • Considering the large size of Ethereum stablecoins market cap ($120B+) — 3% (30,000,000 ORIONs) will be used on Ethereum in small batches over the next 18–24 months to accelerate growth in new users and deposits to billions in TVL;
  • And 1% (10,000,000 ORIONs) will be distributed on Terra as described below.
  1. For ALL Luna Stakers: A portion of genesis airdrop will be distributed to all Luna Stakers, proportionally to their Luna staked (with some caps).
  2. For Orion Validator Delegators: A separate portion of genesis airdrop will be allocated to all delegators who are staking their Luna with the Orion validator at the time when the first snapshot is taken.
  3. For Orion Validator Delegators: Additionally, delegators who continue to stake their Luna with the Orion validator will be receiving monthly airdrops for a period of 12 months.
  1. Orion Money project will not take ANY commission revenue from our validator but instead, we will distribute all funds to Orion stakers through Orion Staking Fund. We will implement this as soon as our staking smart contracts functionality on Terra is fully built and audited.
  2. All the commission earned will be held in Orion Money validator terra wallet address terravaloper1259cmu5zyklsdkmgstxhwqpe0utfe5hhyty0at and can be monitored 24/7 by the community https://finder.terra.money/columbus-4/validator/terravaloper1259cmu5zyklsdkmgstxhwqpe0utfe5hhyty0at
  3. Snapshot for Genesis airdrop will be taken at the beginning of October (we can’t disclose exact snapshot timings in advance).
  • To receive genesis airdrops — Luna has to be staked at the time of the genesis snapshot
  • To receive Orion validator monthly airdrops you need to be delegating to Orion validator at the time of the current month snapshot and the previous monthly snapshot (to avoid people trying to game the system by jumping in and out trying to guess snapshot timing)

About Orion Money

Orion Money’s vision is to become a cross-chain stablecoin bank providing seamless and frictionless stablecoin saving, lending, and spending. Within the Orion Money stablecoin bank, we have three main products planned — Orion Saver, Orion Yield and Insurance, and Orion Pay. Orion Money uniquely brings high yields from Terra to users on Ethereum protocol in easy-to-use dApps.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Orion Money

Orion Money

Orion Money's vision is to become a cross-chain stablecoins bank - the best place in DeFi for stablecoin saving, lending, and spending. Check www.orion.money