With its proprietary governance mechanism, Orion Protocol will grant users global decentralized access to trade across major exchange liquidity without the need for additional accounts and KYC.
A Vision For Crypto Trading Without Accounts & KYC
As governments continue to block CEXs and DEXs from offering regulated services to users, Orion Protocol has developed a comprehensive gateway to the entire crypto market. The decentralized platform effectively aggregates every centralized exchange (CEX), decentralized exchange (DEX), and swap pool through its Orion Terminal, granting users global access to primary centralized exchange liquidity, irrespective of the jurisdiction.
As the only platform to aggregate this cross-section of liquidity, Orion users can approach centralized exchanges like Binance and KuCoin securely and without any geographical barriers. It also allows users to split orders across several exchanges and liquidity sources like automated market-makers (AMMs) to ensure higher quality order execution with a minimal market impact.
Orion uses its proprietary governance mechanism, Delegated Proof of Broker, to eliminate the need for users to create an account or undergo KYC verifications to operate the account. The Orion Terminal enables brokers with verified exchange accounts and exchanges to run the Orion Broker Software and auto-execute trades from the liquidity aggregator using their trading accounts.
Since the brokers and exchanges have already conducted their KYC, users don’t need to do it anymore. These brokers and exchanges trade on behalf of the user, but they can’t access the user’s wallet as smart contracts govern the prerequisite exchanges.
Bypassing Region-Specific Regulations, CEXs, And DEXs
Cryptocurrency regulations vary significantly worldwide, making it highly complicated for the larger population to enter the world of crypto trading. Add to it the rising number of exchanges, and the complications just get denser.
While both CEXs and DEXs enable users to trade and invest in cryptos, the centralized nature of CEXs allows exchanges to retain maximum control over user’s assets. On the other hand, DEXs offer more control, but operating a wallet on a decentralized exchange demands complex knowledge. Moreover, DEXs don’t support fiat transactions, and there’s always a problem of liquidity.
With financial regulators, governments, and global watchdogs clamping down hard on some of the biggest cryptocurrency exchanges, things are getting even more complex for traders. For instance, the Financial Conduct Authority (FCA) recently ruled that Binance can no longer operate in the United Kingdom.
The largest centralized exchange offers a range of crypto-related products and services, but it has fallen afoul of regulators across different countries, including the US, Canada, and Japan. Following the FCA’s ruling, one of Binance’s European payment partners, Clear Junction, has stopped facilitating payments to the exchange, making things even more difficult for traders.
By using verified brokers and exchanges, Orion Terminal enables everyone to access major exchanges, such as Binance and KuCoin, without the need for multiple wallets and KYC, irrespective of your locale. Amidst the rising demand for crypto exchanges to adhere to region-specific financial regulations, Orion Terminal is poised to help traders leverage the burgeoning crypto market legally, securely, and effortlessly.
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2021-07-14 16:54:24
