The decentralized exchange aggregation ecosystem Orion Protocol announced today has now integrated Binance Bridge into its trading terminal via Orion Bridge. This allows users with the Orion protocol to trade efficiently across the ETH ecosystem on the Binance Smart Chain. This provides access to ETH assets – without ETH network fees and latency.
Orion is currently based on Ethereum and Binance Smart Chain and has also initiated integration with Cardano, Polkadot, Fantom, Avalanche, HECO, Elrond and others.
The Orion Protocol was drawn up Orion Bridge Integrating the respective bridges of different chains into the terminal to enable cross-chain trading between assets held across different chains.
Binance Bridge creates a gateway for cross-chain liquidity from other blockchains to the dApps Binance Chain and Binance Smart Chain. The number of projects based on Binance Smart Chain continues to grow, but these projects (including PancakeSwap) have yet to integrate Binance Bridge into their platforms, so users will have to use an external bridge with a series of steps to cross-trade chain.
More efficient trades
By integrating the Binance Bridge into the Orion Bridge using the Orion protocol, this can be done seamlessly on the Orion terminal. Since Orion has already integrated BSC, the integration of the Binance Bridge into the Orion Terminal via the Orion Bridge improves the interoperability between the Binance Smart Chain ecosystem and Ethereum.
While many decentralized aggregators and exchanges are working to enable cross-chain trading, the Orion protocol is the first to make significant strides, allowing users to trade assets across the ETH ecosystem in its first iteration of Orion Bridge across other chains. This allows traders greater flexibility, accessibility and affordability to trade, allowing users to trade ERC-20 tokens without the latency and ETH network fees associated with it.
Not only does BSC halve the waiting times for out-of-chain orders to be executed and in-chain orders to be processed, but transactions with BSC can also cost 135 times less than is currently the case with Ethereum, reducing commissions on deposits, withdrawals, orders, etc. incurred at the terminal insignificant.
Users can trade ERC-20 tokens listed in the Orion Terminal directly from their ETH wallet in Binance Smart Chain with a “helper wallet” – with all settlements in Binance Smart Chain. Users only have to pay Ethereum’s network fees when they deposit into the smart contract on the Orion terminal. All subsequent trading and withdrawal processes benefit from BSC’s marginal network fees.
In addition, the integration of Binance Bridge enables native token support such as BTC, LTC, DOT, and others. Users can trade native (unpackaged) tokens directly on the terminal via Metamask.
The Orion protocol builds a decentralized gateway to the crypto market that includes all central exchanges, decentralized exchanges and swap pools. As Orion works towards its goal of integrating all major chains and exchanges, it is the only liquidity aggregator on the market that offers decentralized access to centralized exchange liquidity.