Use Cases
Orbit Chain is a multi-asset chain based on Inter-Blockchain Protocol. The fact that various assets of different chains can be exchanged and used on a singular chain solves the biggest problem that previous blockchain-based protocols have in common, which is liquidity. Many Dapp and protocols currently face problems overcoming the limitations provided by the platform they are based on, and have difficulties growing as a result. The expansion of ecosystems are often hindered by the lack of connectivity to other ecosystems, and protocols, dapps, and even newer platform chains struggle not being connected to the larger ecosystems of Bitcoin, Ethereum and Ripple.
Sidechain for Public Chains
Orbit Chain is a hub chain of every public chain which is not dependent for a specific public chain. So it means that with Orbit Chain, public chains could be connected to each other to solve the isolation issue and get flexibility and interoperability. One of the key benefits of using Orbit Chain is that it is able to provide borderless multi-chain asset cross transaction without developing a direct communication channel.
Orbit Chain is already supporting cross transaction between BTC, ETH, XRP and will connect Stable Coin based blockchain soon. It will give Dapps for more possibilities, utility and even more user pool from the various environment.
Benefits of Interoperability
Most public chains have their own DEX protocol, or they run a DEX in which their own token is playing a trading pair role, but they have some difficulties in the following:
- 1.Exchanging Dapp tokens with other major coins/tokens other than their native token (Dapp Token -> Main Chain Coin -> Centralization Exchange Transfers -> Other Coins / Tokens Exchange),
- 2.Securing liquidity and users that is the most important feature of cryptocurrency exchange, and
- 3.Developing 2-way pegging system between different chains. There always has been a demand of an intercommunication system but it is difficult to satisfy the demand because the commercialized cases are rare and it requires high development resources for building the system.
Those problems can be easily, quickly, and efficiently solved by Orbit Chain, which has demonstrated the high-level technology by operating and commercializing the pegging/interworking system for a year.
In the future, Orbit chain will become more diverse by adding more liquidity supply, enabling stable exchange of tokens and allow cross-flow of cross-chain users through linking and interoperability.
Use Case 1. Decentralized Exchange
The most basic function that can be performed with currencies, of course, is the exchange of it. Orbit Chain solves the problem that previous chains have had with liquidity and scalability. O-DEX is the decentralized exchange protocol based on Orbit Chain that allows exchange of currencies, on-chain.
O-DEX protocol ( allbit.com )
Use Case 2. Decentralized Finance
As of recent, the need for decentralization of deposit/loan services of blockchain assets have been growing. As is with decentralized trading, liquidity and scalability are both important traits a chain must possess in operating decentralized protocols. Orbit Chain is the chain optimized for such traits, and provides an excellent environment for DeFi protocols to develop on. Currently, a pool-based DeFi protocol Divine operates on Orbit Chain.
Divine protocol ( trinito.io )
Use Case 3. Chain-to-Chain Bridge Gateway
Orbit Chain is a service that appeals not to Dapp and Decentralized Protocol developers, but to projects that want their blockchain to become connected to other chains. Simply by connecting their current chain to Orbit, they can utilize the assets of other chains within their own chain, thus gaining more liquidity for their chain.
Use Case 4. Multi-Asset Dapp
Many Dapps get trapped within the confines of their platform, once they start developing. This causes problems with liquidity, as once the development is somewhat complete, their assets may become limited in transferring to and from other chains.
Last modified 3yr ago