Orca is a decentralized application (dApp) developed on the Kujira blockchain, aiming to revolutionize the decentralized finance (DeFi) landscape. It serves as the world’s first public marketplace for liquidated collateral, allowing users to secure blockchain assets at significant liquidation discounts. The platform is designed to democratize the DeFi space by offering a liquidation market and a decentralized order book. Its core features include semi-permissioned contracts, on-chain scheduling, and native token generation. The platform aims to level the playing field in decentralized finance by building dApps for regular crypto users. For more detailed information, you can refer to the official documentation.
Orca’s core features are designed to address the challenges and limitations of the current DeFi landscape. These features include:
In Orca, contracts must be voted in by the community via governance. This semi-permissioned nature ensures the network’s quality and sustainability. It also allows for a more democratic approach to contract management, where the community has a say in what gets included in the platform.
Orca introduces on-chain scheduling, a feature that eliminates the need for bots and makes protocols operate more smoothly. This is particularly beneficial for liquidation processes and other time-sensitive operations, ensuring that they are executed in a timely and efficient manner.
Native Token Generation
Every token on the network will be a native Cosmos token. KUJI stakers will earn compensation from liquidation and trading revenues. This native token generation feature not only incentivizes participation but also ensures a more cohesive and integrated ecosystem.
Orca offers a variety of lending markets, including USK lending markets and xAsset lending markets. These markets enable users to lend and borrow assets while earning interest.
USK Lending Markets
These markets offer isolated financial margins, allowing users to engage in leveraged trading without the risk of liquidation affecting their entire portfolio. The USK lending markets primarily deal with collaterals like ATOM, DOT, wBNB, wETH, Luna, and gPAXG.
xAsset Lending Markets
These markets focus on synthetic assets, providing users with the opportunity to engage in leveraged trading of a variety of assets without the need for actual ownership. This opens up new avenues for trading and investment, making Orca a versatile platform for diverse financial activities.
How to Interact with Orca
Interacting with Orca is designed to be user-friendly, even for those who are new to the DeFi space. Here are some basic steps to get you started, but for a more detailed guide, you can refer to the official documentation.
Bidding on Collateral
To bid on collateral, users need to visit Orca’s platform and select the collateral they wish to bid on. Bids are submitted as a percentage discount and are placed in a queue. The system then executes these bids in order based on the discount offered, allowing users to acquire assets at discounted rates.
Viewing Active Bids
Users can easily view all the active bids on various collaterals by navigating to the ‘Active Bids’ section on Orca’s platform. This feature provides transparency and allows users to make informed decisions based on the current market activity.
Viewing Analytics on Liquidation Market
Orca provides a dedicated ‘Analytics’ section where users can gain insights into the liquidation market. This feature is crucial for making informed investment decisions and understanding market trends.