Orbits and YFII have officially entered into a strategic partnership
Both parties will join forces in terms of brand, community and technology to jointly enrich and prosper the DeFi’s HECO ecology. After the product is launched, Orbits Finance will join hands with YFII to open an I-pool. Users who deposit stable coins into the I-pool will be able to obtain several returns and in the future Orbits Finance will provide airdrops for YFII users or make donations to the Grant treasury.
YFII is an aggregated revenue protocol with a considerable number of users and has been committed to promoting the development of China’s DeFi ecological integration with an open and inclusive spirit.
Orbits Finance is a low slippage stablecoin exchanger based on HECO, which reduces users’ transaction costs through the Stable swap AMM algorithm and is dedicated to making large stablecoin transactions easier.
Orbits Finance — Where Large stablecoin transactions are made
2020 is the first year of DeFi and decentralized financial protocols based on the EVM platform have sprung up like mushroom and a huge ecology has quickly formed.
In this process, stablecoins have played a very important role. The market value of stablecoins is getting bigger and bigger. Even Bitcoin enters the EVM ecosystem through wBT, HBTC, etc.
Stablecoins have huge exchange requirements due to their different user scenarios. However, whether it is DeFi or centralized finance, the existing solutions are more or less shortcomings.
Orbits uses the Stable swap algorithm, which can significantly reduce transaction slippage. Use the HECO development platform to reduce GAS fees and at the same time, reduce handling fees to reduce user costs.
To provide Orbits with liquidity, in addition to receiving commission rewards, we use the loan agreement aggregated on HECO and the income aggregation agreement to improve the utilization of liquid funds. Users can enjoy multiple benefits while taking low risks.
Take the YFII pool as an example:
1. The user deposits HUSD in the ipool, generates iHUSD and gets the transaction fee from Orbits protocol
2. YFII is an income aggregator, helping the asset (iToken) to make the best income allocation to adjust to different agreements. After iHUSD enters the combined agreement YFII, users can earn interest income from different external agreements and YFII Mining income.
After passing the audit, Orbits will launch governance tokens, hold governance tokens, participate in DAO governance and enjoy 50% of the agreement income. Before the governance token is officially launched, participate in the test of the Orbits testnet, provide liquidity for the Orbits beta version and conduct transactions and you will receive ORB airdrop governance tokens. The team only holds 3% of the issuance cap and will be locked for a long time.
In different sectors of the Huobi Ecological Chain, many potential DeFi projects were born; including algorithmic stable currency BasisGold, decentralized exchange MDEX, lending protocol Filda, aggregation protocol YFII Project Apollo, etc. However, in the stable currency exchange field , Currently relatively blank, but at the same time, we have also seen that since HECO was launched, in a short time, TVL has reached 1.39 billion US dollars, the total number of addresses has exceeded 1.79 million and the growth momentum is good. Under such a background, the demand for stable currency converters with low slippage is bound to increase. At this time, Orbits, which emerged at the historic moment, will surely become the next benchmark for HECO by relying on powerful technology and perfect token economic model project.
Orbits.Finance — twitter
