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ORCA: A human-centered, non-programmatic Dex

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How does Solana-based Dex make price metrics reasonable?

If there is a hot new token recently, it frequently occupies the Weibo hot spots. You're excited to try it. You're thinking about buying your favorite Dex, but you're hit by the fact that the gas cost to complete a transaction is at least $20.

If you were involved in the DEFI craze of the summer of 2020, you are probably familiar with the situation just described. We call it the "gas threshold" : the transaction costs are so high that only whales can afford them.

As DEFI thrived, Crypto Ecology was increasingly looking for long-term solutions, of which Solana emerged. We believe that Solana's subsecond level of validation, security, and virtually free transactions will effectively address this pain point. Today, we are proud to announce the launchOrca, Solana's simplest, fastest, and friendliest AMM aggregator in the ecosystem. Come and experience our high-speed confirmation and almost free exchange feature - it will completely change your perception!

The human-centered DEX

At Orca, we've always taken great pride in being user-centric, not programmatic. Initially, Orca itself was just an idea on scratch paper, and we've been iterating based on feedback from real Defi users. With that in mind, we'll focus on three ways Orca can make the Solana ecosystem a simpler, more personal experience.

1. Reasonable price index

After interviewing many Defi users, we found that one of the biggest pain points is analyzing whether a particular pool is currently offering a reasonable price. The current DEX usually goes to one of two extremes: blind faith in the market rates offered by DEX, or time-consuming comparisons with market software or other exchanges. At Orca, we address this problem with a reasonable price metric.

When you enter a transaction on ORCA, we check that the following two conditions are true:

1. The price deviation from the market price on Coingecko is within 1%

2. Slip point less than or equal to the limit you set (default is 1%)

If the above conditions are met, you will see a green tick at the top, and you can safely click the trade key. However, as soon as one of these conditions fails, we will pop up an "Interest Rate Warning" or a "Slippoint Warning" so that you can make an informed decision about whether to trade.

2. The aggregator

Orca is not only an AMM, but also an aggregator. Each time you enter a deal, we offer the best prices from either Orca or Serum Swap's pools of working capital. We will also integrate with other reputable AMMs once they are developed. Therefore, you can rest assured that Orca will always provide the most favorable price.

3. Balance of tokens

In most AMMs on Ethereum, a user checking the balance often needs to open a browser plug-in. This obviously needs to be optimized for the user experience, which is why we added a "Tokens" panel directly to the ORCA interface. With it, you can see the balance of all the tokens listed on Orca, and its value is updated in real time based on the transactions you make or the liquidity you provide.

Reasons for choosing Solana

Currently, Orca consists of a small but talented team of two: a software engineer with extensive experience developing blockchain protocols, and a software engineer/interaction designer who specializes in creating human-centered product experiences.

Expertise in encryption technology and new user perceptions provide us with a unique perspective. In the long term, our mission is to develop blockchain applications that solve people's everyday practical problems. But we also know that this technology has a long way to go before it is widely available. With a $20 fee and a few minutes of confirmation time, a transaction clearly cannot compete with traditional financial solutions.

To reach a wider audience, the crypto industry will have to expand dramatically, while maintaining itCredible neutrality(In other words, be non-discriminatory and transparent). And Solana has laid a good foundation through long-term efforts. In recent years, the development of the network stack and virtual machine has been very slow, especially when compared to other fields such as advanced cryptography. Solana, however, stood out and took advantage of itHistory provesAnd verifiable delay equations prove that these pain points can be greatly optimized.

They are also doing very well. The Solana network has a blockout time of around 400 milliseconds, a TPS of up to 50,000 and an average transaction cost of $0.00001, all without the complexity of side chains or sharding. This sounds pretty good, but by building an application from the ground up, our first-hand experience proves that Solana's excellent performance doesn't come at the expense of the other essential properties of the blockchain (censorship resistance and security). In addition, the Solana engineering team is actively releasing open source infrastructure modules for application development. With what they provideTokens exchangeWe were able to design, develop, and launch Orca in just four months, using the program as the basis for the Orca smart contract, and this was achieved by a very detailed team of two people.

That is, when it comes to ecosystem success, technology alone is not enough. In our conversations with the Solana Foundation, we have been very impressed by their team's intelligence, strong values, and steady approach. So we are very confident that Solana has all the ingredients to become a vibrant, scalable ecosystem. Based on this, we are working hard to build the core infrastructure: an easy-to-use, human-centered AMM.

The product status

Orca is now online and accessible to anyone outside the United Statesorca.soAnd start trading SOL, BTC, ETH, USDC, USDT, SRM and FTT. But our journey has only just begun. Here are some of the features in development:

Integrate to build a cross-chain bridge between Adobe Square and SolanaWormhole

2. Collector, worthless tokens for early adopters

3. Other trades are right

4. Analysis of price, liquidity, trading volume and fees & NBSP;

5. Multi-language support in ORCA UI