The mammal-inspired DEX leverages Solana’s unique offerings to deliver the best interest for users providing liquidity on its stablecoin pools.
Orca has been seeing tremendous returns for investors using the platform. The Decentralized Exchange (DEX) offers stablecoin pools with a higher Annual Percentage Rate (APR) than most protocols on Solana. According to the protocol’s Tweet on June 23rd, its USDC/USDT stablecoin pool has a 35% annualized APR in the space of a week.
What are Stablecoins?
A stablecoin is a type of cryptocurrency whose value is tied to an asset like the U.S. Dollar to keep the price stable. As the name implies, stablecoins are generally referred to as stable cryptocurrencies. Stablecoins serve as a bridge between fiat currencies like the U.S. dollar and cryptocurrencies. Typically, they are digital assets minted on blockchains and are backed by fiat currencies, crypto assets, and commodities (precious metals or industrial metals). Examples of stablecoins are USD Tether (USDT), TrueUSD (TUSD), USD Coin (USDC), and DAI.
Orca’s Stablecoin Pools
Orca gives users the ability to enjoy its enormous stablecoin pool APR offering. By opening its portal with a smooth user interface, users only need to connect their Phantom or Sollet wallets to enjoy up to 35% APR from liquidity provision. Furthermore, just by funding the USDC/USDT pool, users will gain a considerable percentage of annualized APR.
As of this writing, Orca has reached $1.5 million in liquidity. This can be attributed to the stablecoin curve. This means that users can swap up to $500,000 with a price impact of just 1%.
Orca is the most accessible place to exchange cryptocurrencies on the Solana blockchain. Building on Solana allows users to trade tokens more cheaply, promptly, and confidently. The protocol offers users the license to provide liquidity to a trading pool and earn profit from trading fees.
In Solana, Orca has a quality blockchain foundation to keep developing and offering its users more incentives to drive adoption. Orca offers users the chance to quickly provide liquidity and earn money on trading fees due to Solana’s sleek performance. Solana offers 60,000 transactions per second, 400ms block times, and transaction fees of about $0.01. With all these user-friendly offerings, Solana continues to become the best choice for decentralized exchange protocols. The high APRs Orca is currently offering are proof of the capabilities of the blockchain.
Source : solana.news