Orion Money launches $ORION APY Levels! 🌎🛰🌕
The more $ORION tokens you stake, the higher the APY you can earn!
It’s an exciting day for the Orion Money community.
After months of hard work in the orbit between Moon, Station, and Earth, our team of $LUNAtics has made it back from their interstellar travel and is extremely excited to bring back to Earth our most important feature to date: APY Levels! 👨🚀
With this feature, the more $ORION tokens you hold on the Orion Money dApp, the higher the % APY you earn on your stablecoin and $ORION tokens.
This means that no matter which stablecoin you deposit on Orion Money dApp — $USDC, $USDT, $BUSD, $DAI, or wUST — you can now get to the moon higher, depending on how many $ORION tokens you hold in your wallet. 🚀🌝
APY Levels is powered by $ORION token and will provide:
✅ Up to 25% APY on your favorite stablecoins
✅ No impermanent loss as it is single asset staking
✅ Significant new utility for $ORION
There are three APY levels:
🌎 Earth level: Stake 0–5% of $ORION token in your portfolio on Orion Money to earn 15% APY onyour stablecoins in stablecoins or 17% APY in $ORION toke
🛰 Station level: Stake 5–15% of $ORION token in your portfolio on Orion Money to earn 17% APY in your stablecoins in stablecoins or 20% APY in $ORION token
🌕 Moon level: Stake 15% or more of $ORION token in your portfolio on Orion Money to earn 20% APY in your stablecoins in stablecoins or 25% APY in $ORION token!
Check the below table for details:
As our litepaper states, we’ve planned to build this feature since the beginning of our project. However, developing this feature was not as easy as it sounds. The development of the smart contracts required to run the token staking, the ongoing hands-on maintenance, and the high fees required to switch across the various APY levels are factors that add up to the significant complexity of the feature.
This is why we’ve initially decided to move away from this APY levels feature to the more common DeFi liquidity pools. But taking into account the feedback of our amazing community, our development team has been hard at work for months trying to figure out a sustainable solution to make this happen!
And after months of hard work, we’re proud to announce we’ve found such a solution, and even more. And IT’S LIVE NOW!
While APY Levels is launched initially only on Ethereum, we’re working already to launch it on Polygon, BSC and Terra too!
How to use APY Levels?
Leveraging APY levels to earn more from your stablecoins is as easy as traveling to the moon and back (LEL, it’s much easier than that!). Just follow these easy steps:
- Go to Orion Money dApp, connect your wallet, and navigate to “APY Levels” tab
- Deposit any stablecoins on Orion Money
- Stake your $ORION token on Orion money
The banner at the top of the page will instantly highlight which APY level you’re on, and tell you how many more $ORION tokens you need to stake to reach the Moon Level. 👨🚀🌝
Depending on your specific APY, you can decide how you get your interest paid:
- In-kind: you get paid 15%, 17%, or 20% APY in the stablecoins you deposit
- In $ORION token: you get paid 17%, 20%, or 25% in $ORION tokens
The APY level is determined by the average price of the $ORION token of the past few days. Also, APY levels updates automatically:
- Every time you stake/unstake $ORION token from your wallet
- Every week on Monday, to factor in the interest accrued in the previous week
Also, keep in mind that: deposits and staked $ORION token in other tabs of the Orion Money dApp — Saver, Staking, and Vesting — will NOT count towards the APY Levels, as those are deposits are processed by different smart contracts.
Orion Money APY is subject to change as it depends on Anchor Protocol Earn APY.
The safety and security of your funds are our first priority — that’s why at the beginning, we’ll launch APY Levels with a cap of $50,000 per transaction. APY Levels feature is undergoing an extensive audit right now — as soon as the audit completes, we’ll remove these caps and open up the feature to any portfolio size.
If you have any questions or feedback about APY Levels, we’d love to hear from you. Text us in the comments or reach out to us on Twitter or Telegram as below.
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 blockhains in easy-to-use dApps.