Orion Partners With BSC To Improve Cross-Chain Interoperability

Republished By Plato

Followers: 0

Orion protocol is the first to emerge BSC into its trading terminal.
It is currently built on Ethereum and Binance Smart Chain.
Under the process to integrate Cardano, Polkadot, Fantom, and more.

Orion Protocol collaborates with Binance Smart Chain (BSC) to improve cross-chain interoperability with Orion Bridge. However, Orion has become the first partner to merge Binance Bridge into its trading terminal through Orion Bridge. Consequently, Orion Protocol is the first to enable users to efficiently trade across the ETH ecosystem on BSC.

Moreover, it enables access to ETH assets without ETH network fees and throughput. Orion Protocol is built on the most advanced liquidity aggregator. It will aggregate the liquidity of every single crypto exchange into a single decentralized platform — providing a decentralized gateway to the entire digital asset market. As a result, they are developing a protocol to connect the world of cryptocurrency, traditional finance, and real-world assets.

Orion is currently built on Ethereum and Binance Smart Chain, also under the process to integrate Cardano, Polkadot, Fantom, Avalanche, HECO, Elrond, and more.

Besides, Orion Protocol’s integration of Binance Bridge into Orion Bridge enables this to happen seamlessly on Orion Terminal. With the BSC ecosystem already integrated into Orion, integrating the Binance Bridge into Orion Terminal via Orion Bridge improves interoperability between the BSC ecosystem and ETH.

Trading Assets Across ETH Ecosystem

Orion Protocol allows its users to trade assets across ETH ecosystem via Orion Bridge in its first iteration. With many decentralized exchanges trying to enable cross-chain trading, Orion Protocol gives traders more trading flexibility, accessibility, and affordability by allowing them to trade ERC20 tokens. In addition, users can trade without associated latency and ETH network fees. In case of depositing into a smart chain on Orion Terminal, then users have to pay only ETH network fees.

BSC not only halves wait times for off-chain order execution and on-chain order settlement, transactions on BSC costs 135x. This cost is less than the current cost on ETH. However, making commissions for withdrawals, deposits, order execution, and more on the terminal negligible.

Users will be able to trade ERC20 tokens directly from their ETH wallet on BSC using a ‘helper wallet’, with all settlement on BSC. Moreover, users can just pay ETH network fees when depositing into the smart contract on Orion Terminal. In addition, all subsequent trading and withdrawals will gain from the marginal network fees of BSC.

Additionally, integrating Binance Bridge allows support of native tokens like BTC, LTC, DOT, and others. This also enables users to trade native tokens directly on the Terminal through Metamask.

As a chain-agnostic aggregator, Orion Protocol has already integrated ETH and BSC, with more to be announced. Significantly, other chains align their own cross-chain bridges, these will integrate into Orion Bridge, as Orion Protocol strives for a seamless, cross-chain trading option that encompasses the entire crypto space.

Furthermore, Orion seeks to solve the fragmentation not only of crypto markets, but NFTs marketplaces, and assets from traditional finance. However, eventually aggregating them into a single decentralized platform for traders.

Source: https://coinquora.com/orion-partners-with-bsc-to-improve-cross-chain-interoperability/

Time Stamp: May 21, 2021