Orca touts itself as the "easiest, fastest, and most user-friendly cryptocurrency exchange on the Solana blockchain." Being one of the first automated market makers (AMM) launched on Solana, the decentralized exchange (DEX) maintains its own liquidity pools. It allows users to swap assets, participate in yield farming, and provide liquidity.
The platform leverages Solana’s quick transactions and low fees. On one hand, users can perform low-fee token trades. On the other, they can provide concentrated liquidity to the platform to earn a share of trading fees.
Orca was co-founded by Grace Kwan and Yutaro Mori. Kwan, aka "Ori," is the UX designer. She graduated from Stanford with a B.S. and M.S. in Computer Science before working as a software engineer at Coursera and a designer at IDEO.
Yutaro is the brain behind Orca's core AMM. He has been active in the crypto space since 2017 at the Ethereum Foundation. He worked on the Eth2 Go client and Layer 2 solutions before making a foray into Solana.
The project launched in February 2021 without external funding. In September 2021, the total value locked (TVL) on the protocol had exceeded $300 million, while its trade volume exceeded $700 million.
The company is located in New York, United States.
Although Orca’s "Terms of Use Agreement" did not explicitly name any country as restricted, the company advised users in areas prohibited by the applicable law to desist from using its platform.
The DEX supports over 200 markets, with the most popular trading pairs being SOL/USDC, SOL/STSOL, and SOL/MSOL.
Trading fees vary depending on the route the AMM uses. The fee structure on the platform is as follows: stable whirlpool – 0.01%, whirlpool – 0.2%, stable pool – 0.07%, and pool – 0.3%. A "double-hop trade" such as SOL to USDT to ETH would pay 0.3% to trade SOL to USDT and another 0.3% to trade USDT to ETH.
The decentralized trading platform does not support margin trading.
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