Orion Money Private Farming
Orion Money raises $70m in committed TVL from 700+ investors, projects, and communities
Great news! We have now reached our stretch target of $70m in committed TVL whitelisted for Orion Money Private Farming.
We welcome over 700 whitelisted investors, crypto projects, and community members to Orion Money Private Farming!
- When: Orion Money Private Farming will start on Monday, August 16th at 1 PM UTC.
You will be able to deposit into the Private Farming vault from August 16th through September 5th (21 days) and then the vault will close for deposits. We have implemented a deposit block for slippage >1%, but please watch for the slippage and gas fees when making deposits. Unfortunately, we can’t do anything about high gas fees — please try to monitor them and deposit when they are lower.
- Who: ONLY already whitelisted participants will be able to deposit into Private Farming. We selected a diverse group of value-adding protocol participants — VCs and individual investors, crypto projects on both Ethereum and Terra, and crypto communities.
Note: We’ve now stopped whitelisting new investors for Private Farming.
If you were not whitelisted — don’t fret — Orion Money will have IDOs and airdrops on Ethereum and Terra in September. (We will share more details as soon as available)
- What: You can deposit ERC-20 stablecoins: wrapped UST, USDC, USDT, DAI, FRAX, BUSD. You can withdraw your deposit back anytime (15% early withdrawal fees first 30 days) or after the Private Farming ends — in 3–4 months, or transfer to Orion Saver to earn 20–25% APY.
- Where: Private Farming vault at URL: https://app.orion.money/farm (Will be live on Aug 16th at 1 PM UTC. Ensure you’re on the correct website/page before depositing)
- How to deposit: You will be able to deposit into the Private Farming vault https://app.orion.money/farm from August 16th 1 PM UTC for 21 days. We have implemented a deposit block for slippage >1%, but please watch for the slippage and gas fees when making deposits.
Watch here a video walkthrough of Orion Private Farming dApp and how to deposit via Orion Saver: https://www.youtube.com/watch?v=yYXdGuqE70k
- What fees and slippage I might have when depositing into Orion Saver and Private Farming vault? Please see below a short explanation and read for a detailed answer here: https://orion.money/how-it-works
a) Exchange fees & slippage: Orion Saver currently swaps Ethereum stablecoins into wUST via Curve (more options coming soon). Curve is very efficient when converting stablecoins, however, slippage could still comprise up to 1% of the converted amount. See for current rates https://curve.fi/ust/
b) Ethereum gas fees: As with any other transaction on the Ethereum blockchain, users will have to pay for each deposit or withdraw transaction. It is also important to note that depositing funds will require two transactions — one is to allow Orion Saver to use funds in the user’s wallet and the other one to actually transfer funds to Orion Saver. If gas fees are too high (>$200) — please monitor them at https://etherscan.io/gastracker and try to deposit when they are lower. Also, please mind that Metamask is showing higher gas fees estimates
c) Inter-chain transfer-related fees: Anchor Protocol works on the Terra blockchain while Orion Saver works on the Ethereum blockchain. That means that any deposit or withdrawal operation involves inter-chain transfers. Currently, all transfers between Terra and Ethereum are handled by Terra Bridge (Shuttle) which imposes a fee of a maximum of $1 or 0.1% of the total amount.
You should also read more about Orion Money Private Farming here: https://orion.money/private-farming. Lastly, use the below chart to walk through, and view, the farming steps and how it works:
Why are we doing Private Farming, not just Private Sale?
Our main goals for Private Farming are:
Create awareness: To raise awareness about the Orion Money project on the Ethereum blockchain;
Sign up long-term users: To convert farming participants into Orion Saver long-term users;
Scale TVL: To jumpstart Orion Saver’s initial Total Value Locked (TVL).
We’re fulfilling these goals and will continue with IDOs and Airdrops on Ethereum and Terra.
Common questions about Private Farming:
- What are my limits for Private Farming? Private Farming has two main limits as referred to in the Orion Money Lite Paper: minimum of $50,000 and maximum $1m (exclusions are for a couple of value-added groups with lower minimums and some VC funds with a pre-agreed higher maximum). You can deposit for Private Farming an amount that is different from what you filled out in the whitelist form as long as this amount is between these two limits.
- When I can withdraw my stablecoins? After depositing, you can withdraw your stablecoins anytime. However, if you withdrawal within the first 30 days, you will incur a 15% early exit fee. Once you withdraw, and 21 days have passed from the start of Private Farming, you will not be able to deposit back to farm $ORION. See the picture above.
- How long will Private Farming run for? We dedicated 70,000,000 $ORION tokens for Private Farming and it will finish once the token pool is depleted, depending on the farming TVL. We estimate 3–4 months for this. Once the farming TVL reaches $70m all new deposits will be stopped.
- What to do with high Ethereum gas fees? Unfortunately, we can’t do much about high Ethereum gas fees. We advise the following approaches to minimize gas fees and slippage when depositing into Private Farming:
a) You can already deposit into Orion Saver and then easy and inexpensively transfer to Private Farming vault;
b) You will have 21 days to deposit into the Private Farming vault directly. Thus, you can monitor gas fees throughout that time and deposit when gas fees are lower.
Please be aware that once the farming TVL reaches $70m all new deposits will be stopped.
5. I submitted the whitelist form but not sure if I’m in: DM Admin in Orion Money Telegram channel and ask the Admin to validate that your email address was properly whitelisted.
6. Can I deposit different stablecoins from what I put in the whitelisting form? Yes, the whitelist helps us to estimate the amounts, but you can a) use different stablecoins for the deposits; b) deposit as much as you decide to as long as you are within main limits per question 1 above.
7. How to deposit UST from Terra to Private Farming vault?
Option 1: Move your UST from Terra to Ethereum using Terra Bridge https://bridge.terra.money/ into your Ethereum metamask wallet.
Option 2: Deposit your Terra UST into Kucoin and withdraw ERC-20 wrapped UST into your Ethereum metamask wallet.
After either option, you will be able to deposit your Ethereum wrapped UST into Orion Private Farming.
8. How to deposit BUSD from BSC to Private Farming vault? Move your BSC BUSD to Ethereum using Binance bridge https://www.binance.org/en/bridge or withdraw on Binance as ERC-20 to your Ethereum metamask wallet. Deposit your Ethereum wrapped BUSD into Orion Private Farming.
9. How farmed $ORION will vest? Private Farming $ORION tokens will vest as specified in the Orion Money Lite Paper. Per the Lite Paper, 15% per month starting from month 3 (total vesting 10 months). Vested $ORION will be accessible to claim within the Private Farming dApp.
We will be adding more answers here as we hear more questions from Private Farming participants.
Please also check the questions here as they might have been answered already: https://orion.money/private-farming
Who can I contact if I have any questions about $ORION Private Farming:
The fastest way to get an answer to your questions will be to contact us at the Orion Money Telegram channel.