Orion Money’s native token allows you to boost your stablecoin APY, receive rewards from revenue generated, and participate in governance activities
In June, Orion Money opened its doors to the world by launching Orion Saver Alpha. Users can deposit stablecoins to receive fixed yields far better than what the market competition offers. Anyone can deposit $USDT, $USDC, $BUSD, $DAI, or wrapped $UST and start earning interest of up to 15% APY.
Orion Money’s outstanding APYs are made possible thanks to Anchor Protocol, a decentralized money market and savings protocol that generates reliable, low volatility yield from stablecoins. The protocol is built for the Terra blockchain, and Orion Money bridges the gap between Terra and the Ethereum network, extending the yields to major ERC-20 stablecoins.
$ORION is Orion Money’s native token, and users are incentivized to hold and stake their $ORION tokens to reap the maximum rewards from the Orion Money ecosystem.
Let’s take a look at the benefits of holding and staking $ORION.
Earn up to 25% APY on stablecoins by staking $ORION
Orion Saver uses a tiered APY model, which determines your yield based on two factors: whether your APY is paid in stablecoins or $ORION, and how much $ORION you hold in relation to all your deposits.
To be clear, you don’t need to hold $ORION to use Orion Saver. Even if a user has no $ORION and chooses to receive APY in the same stablecoin as the deposit, they will still receive an attractive, market-leading APY of 15%.
But why would you stay on Earth when you could go to the moon? If $ORION makes up 5–15% of your deposits in Orion Saver, then you can earn up to 20% APY. And if that percentage goes above 15%, then your APY can soar all the way to 25%.
$ORION Token Buyback Mechanisms
Aside from boosting your APY levels, there are several reasons to hold $ORION in your portfolio. The Orion Money ecosystem of dApps — Orion Saver, Orion Yield and Insurance, and Orion Pay — will be revenue-generating, and part of that revenue will feedback into boosting the value of $ORION.
One way to do this is via Orion Money’s token buyback mechanism. Orion Money plans to generate revenue from these main segments:
(1) Yield differential between Orion Saver yields and Anchor Protocol
(2) Running Orion Money’s dApp ecosystem
(3) Orion Validator Commission
The revenue generated will then be used to buy back $ORION tokens from the market, and these tokens will be added to the staking fund for distribution to $ORION stakers.
Stake $ORION to earn more $ORION and enjoy preferential benefits
Holders of $ORION can choose to stake their tokens to receive yields, which are based on the staking duration: the longer you stake, the higher your staking APY will be. Those rewards will come from the revenue sharing from Orion Money dApps, though in the initial stages, they will also be subsidized by the Orion Money Staking Fund.
Those who stake $ORION will receive $xORION tokens as their staking proof, and the process comes with a 7-day unstaking period. Aside from the incremental yields, $ORION stakers will also enjoy preferential terms within all dApps in the ecosystem, such as Orion Saver, Orion Yield and Insurance, Orion Pay, and future dApps.
As a strong believer in the power of community, Orion Money envisions its governance to transition to the DAO model, where $ORION stakers can make major decisions on proposals. This means stakers will be able to participate in governance activities such as the creation of proposals and voting.
$ORION Benefits in the Future
Orion Money has an ambitious roadmap for its dApps, with each making $ORION more valuable by bringing more utility and revenue distribution.
As the Orion Money ecosystem prepares for takeoff, we consider $ORION your ticket on our rocket ship towards higher yields.
About Orion Money
Orion Money is developing the best place in crypto for stablecoin holders to access safe and secure yields of 20–25% APY in a DeFi environment, as well as to attain even higher variable yield, native insurance, and fiat on- and off-ramps with a debit card. Our first product, Orion Saver, is already live at app.orion.money and has $70,000,000+ TVL.
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