Cardano has now decided to implement the Orion protocol into its network, further contributing to the expansion of the network. It looks as if Cardano is riding on an unstoppable train of partnerships and alliances in the DeFi space as it became fully decentralized, aiming to grow its exposure around the world in hopes of any chances to sit on the throne of the crypto market, currently owned by the behemoth Bitcoin.
This move will not only bring a much easier way to trade information but also boosting the functionality and capabilities of Decentralized finance and Non-fungible tokens in the process, providing the crucial necessities they need to run at a well-sustained state. The parent company of Cardano, IOHK, has now become the new liquidity representative in the Cardano network and blockchain.
DeFi for the Win!
The Orion protocol will bring many new welcoming features to the Cardano blockchain. By managing liquidity obtained from exchanges, the Orion protocol will gather all of that liquidity and place it in a single decentralized space, giving users the ability to access the crypto market and take advantage of custody-free payments, which can benefit them in the long term.
If the payments will be custody-free, then it means that traders can use that little saving and invest it in other interesting places to seek the best trade opportunities. Working together with the Orion protocol, Cardano also seeks to solve the scalability issues it faces by providing a variety of trade opportunities for traders and users globally.
Power to the NFT!
Both Cardano and Orion will also take part in the management of NFT markets. It is said that Orion will use the same gathering technique as used for DeFi space, pilling up all sorts of NFT markets onto a single platform, giving trading the hassle-free experience they seek in visiting markets.
Everything, mushed in a single platform, will not only make it easier to find desired NFT markets but also provide efficiency into the system, making it easier to manage and run in a sustainable manner. CEO of Cardano, Charles Hoskinson, invites all sorts of NFT and markets to work with Cardano and its new partner for an easy and efficient trade process.