DeFi Startup Orion Protocol Raises $3.45m in the World's First Dynamic Coin Offering (DYCO)

Orion Protocol, the DeFi platform building B2B and B2C solutions on the most advanced liquidity aggregator ever developed, has announced the closure of one of the most oversubscribed sales in 2020. One of the recent success stories from a group of decentralized finance (DeFi) startups to quickly hit their hard cap and gain widespread interest in the market, Orion Protocol raised $3.45 million in the world’s first Dynamic Coin Offering (DYCO).

Designed to greatly reduce the risks of token sales without sacrificing results, a DYCO requires a team to be fully committed to development, transparency, and project performance. If project milestones are not met, or token participants are not satisfied with project deliverables, they will be able to penalize the team by claiming a refund.

Orion Protocol offers participants the ability to refund up to 80% of ORN tokens, no matter if participants held tokens or previously sold them at a profit. Every ORN token that will be refunded will be removed from circulation, while other efforts are in place to reduce supply of the non-inflationary and supply-capped token.

With Orion’s commitment to solving the largest problems in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform, this is no small feat. Orion’s ambitious roadmap includes revolutionary trading solution Orion Terminal, aggregating the liquidity of the entire crypto market on one decentralized platform, as well as a suite of enterprise solutions for blockchains, exchanges, and crypto projects built on the Elrond blockchain.

Orion’s DYCO Sees Unprecedented Demand from the Crypto Community

Until the DYCO, the project had been largely self-funded, with the team making up much of the $300,000 seed round. The team’s unrivaled confidence in the project was matched by that of the community.

Orion’s private sale closed in June 2020, raising a total of $3,410,000 in under two weeks while being oversubscribed by 300%. Orion’s unconventional public sale allocation of just $40,000 was launched in two parts, with the first 75% of the public sale allocation exclusively for Elrond Network stakeholders based on a lottery determined by the amount of $ERD staked in Genesis Staking contracts. In just 5 days from the first round launch (July 7, 2020 to July 12, 2020), just under one billion ERD ($11.6 million) was staked to participate in the sale of just $30,000.

The second round of the public sale launched on July 14, 2020, through a gas war competition that reserved the final $10,000 allocation for general participants. This was met with strong demand, clogging the ETH network through gas prices of 4.75 ETH.

Orion Gathers Support from Some of the Biggest Companies in Crypto

Part of Orion’s success is through its partnership with Elrond Network, seeing Orion leverage the Elrond blockchain and toolset to build out its product suite. Fundamentally, this includes the Decentralized Brokerage underpinning the protocol and each solution, built on a network of brokers carrying out all transactions across the platform via Elrond Smart Contracts.

Source: https://www.fintechpressreleases.com/press_releases/defi-startup-orion-protocol-raises-3-45m-in-the-world-s-first-dynamic-coin-offering-dyco

Tags:

ORN tokens , DYCO, DeFi, Orion , Crypto , Dynamic Coin Offering Cheap Press Release Distribution Services, Affordable Press Release Services, Free Press Release Distribution, Free Press Release Submission, Free Press Release Distribution Services