Don’t risk becoming BEACHED with legacy gas fee paying swap products. It’s time to get fast and cheap swaps with Orca, one of the most beautiful and trust swap providers of the Solana Ecosystem!
Orca is the easiest way to exchange cryptocurrency on the Solana blockchain. Here, you can exchange tokens with minimal transaction fees and lower latency than any DEX on Ethereum, all while knowing that you’re getting a fair price. Additionally, you may provide liquidity to a trading pool to earn a share of trading fees.Orca Documentation
Total Value Locked (TVL) just crossed $40 million !
These Orca Pool TVL’s seems to have doubled in the month with it moving from $20 million to $40 million !
Decentralised Exchange (DEX) Swaps
This is one of the most slick looking DEX Swap interfaces we have seen on Solana and it works a treat !
How to get started with Orca?
In order to make your first swap, there is not much too it. You just need to get some currency into either the Sollet or Phantom wallets, then select what you have, and what you want to swap it for!
At the moment Orca only supports 2 Solana wallets, Phantom & Sollet. Hopefully in the future there will be more wallet support. (Raydium also supports Ledger, Sollet Extension, Solong, MathWallet & Bonfida)
The are a load or swap pairs to choose from.
We have mapped out (based off the GUI) all the possible swaps that are available in the table below:
So What Makes Orca So Blubbering Good?
One of the coolest features was added for couple of months ago. During a Swap transaction, you would see what tokens were in your wallet and live status updates on the transaction status once you hit Exchange. See what I’m talking about in this video:
Another super cool feature is the Fair Price indicator, which compare the price you are getting from the liquidity pools and the actual price average from centralised exchanges from CoinGecko. This helps during times of massive activity that you are getting a fair comparable price!
Every month there seems to be new collectables being released on the Orca protocol. You can see the latest ones here!
Each guppy is earnt by achieving a certain trading metric and is issued to the winning wallet account. Make sure you get involved so you can collect them!
Providing Liquidity via the Orca Pools
Orca uses the Automated Market Maker (AMM) approach to providing token swaps/exchanges, rather than a traditional order book exchange. This is where users trade with a pool of tokens rather than directly with other users. You can become a Liquidity Provider (LP) to these token pair pools here.
At the time of writing, $STEP was relatively new and was providing an Annualised Return on Investment of 1600% as stated on the Pools page of Orca. (Not financial advice).
There are some quirks you should know before providing liquidity so check out this informative Twitter thread. You can also check out this post by Uniswap on what is Impermanent Loss.
ORCA Roadmap (or should this be Ocean Map?)
Read the original tweet here!
So what about the $ORCA Token?
It looks like something is swirling over at Orca headquarters, with a new $ORCA token being discussed on social media… Stay tuned
About Programming on Solana
The cool team at Orca also like giving back to the Solana Ecosystem by providing educational tips on Solana Programming!
Show your Support for Orca
Feel free to check out the Orca Official Website, where you can join their Telegram, Twitter, Discord or WeChat.
We have also created the Orca Squad at Solhack.com where you can join the group and get involved in the forums. Stay tuned for upcoming Solana Developer courses on how to get started coding on Solana!
Retweet or Comment This Post Below! Cheers