RECAP AMA EPID COMMUNITY X ORION MONEY
🗓️ Date: 13th September 12 PM UTC | 7 PM (GMT +7)
🏚Venue For AMA: @EPID_Community
💰Reward Pool: 100$
@getitdone1 Welcome to EPID Community! Before we start, please tell us a little bit about yourself 😊
A:
Hey guys happy to be here !
I'm one of the co-founder of Orion Money
Website- http://orion.money/
Twitter - https://twitter.com/orion_money
Telegram - https://t.me/Orion_Money
Medium- https://orion-money.medium.com/
Discord - https://discord.gg/5vbWB2PWeS
here is some more info on Orion Money
I'm actually one of the 3 co-founders of Orion Money. Little background on myself, I started my journey with crypto back in 2014, the time when I first came across bitcoin while doing deep dive into monetary policies, gold investing.
Over last 7 years I invested in different projects and kept a close eye on entire industry how it evolved, experienced most of crypto bull and bear runs and saw how in recent years stablecoins market started to grow and how more and more investors started to diversify their portfolio into stablecoins. I came across Terra back in 2019 and if you don't know anything about Terra just shortly its the only decentralized algo stablecoins blockchain with Luna being the only asset thats directly exposed to the growth of stablecoins market.
I realized that Terra has something that no other blockchain have. Back then there was no community for Terra, there was just one discord channel so I decided to join core community and help grow it from day one. Today i'm proud to say we have one of the largest and most passionate community in the space
I invested and was part of every project that launched on Terra from day 1 and came across Orion Money when Vol and Kos ( other 2 co-founders ) submitted this basic but pretty profound idea to hackathon, to bring anchor protocol high stable yields to other blockchains, starting from ethereum and enable easy spending of stablecoins in the real world.
I immediately joined the team in first week of hackathon, we ended up winning the hackathon and we went full speed on development. We've launched our first initial MVP version of Orion Saver app.orion.money during the hackathon, guys built it essentially in 48 hours during hackathon 😁
Little feedback on other two co-founders, they managed to built big e-commerce analytics business in the real world from 3 founders to 300+ employees out of which 75+ were hardcore developers and engineers. Their customers were Amazon, Walmart, Coca-Cola + 150+ large worldwide brands, they sold the company last year to private equity firm and took some break, looked what else to do in their life long term ( 10+ years )
➡️Part 1: Project Introduction.
Q1: Can you give a brief introduction of what Orion Money is? What is it aiming to do, and what it intends to solve in this industry?
Orion Money’s vision is to become a cross-chain stablecoin bank providing seamless and frictionless stablecoin saving, lending, and spending. Within the Orion Money stablecoin bank, we have three main products planned — Orion Saver, Orion Yield and Insurance, and Orion Pay.
Q2: Can you share some of your background and experience? How did you know and get involved in cryptocurrency? What made you/your team decide to found Orion Money?
A:
haha well I think I've answered this at the beginning of AMA pretty well
Q3: Currently, there are many scam projects that cause investors to lose. So, Why we should choose and trust Orion Money?
A:
We are not anonymous at first. We already made it in crypto or real life. What really drives us and give passion to push this project forward is the belief and vision we have for this project. We believe we are building next AAVE or Compound so excitement comes naturally. We are really careful when it comes to security. We've done 3 smart contract audits for this and also added 2 insurance options in case you want to make a deposit and cover your deposit sum. https://orion.money/security-and-audits/ check this link for all the audit reports.
➡️Part 2: Question From Twitter (5 best questions).
Q1: @KyEm_506
Orion Money’s vision is to become a cross-chain stable coin bank that provides seamless and frictionless stable coin savings, lending and spending. With this in mind, who would be your main competitors in the market today and how do you hope to surpass them?
A:
hmm good question, well we have much better rates than anyone in the space. Other projects providing interest on stablecoins would be our competition, let me share a quick illustration to compare current ethereum defi / cefi yields on stablecoins
at the moment those are the rates we offer, the highest, stable returns on stablecoins on ethereum
we are launching our tokens on September 29th, once we launch it we will introduce 3-tier earning system powered by Orion token where you will be able to earn up to 25% APY on your stablecoins
Q2: @Crypto_Screer13
Orion is helping it users hold stable coin on anchor platform, which is quite awesome,
What will happen if I exchange my stable coin and put on anchor?
Do I get the same yield as putting UST on anchor too?
Terrastation staking on Orion validator does it give me drops of Orion?
A:
good question, today ethereum has $100b in stablecoins, Terra around $2b, we decided to launch on ethereum because that's the biggest market for stablecoins. Many projects, protocols can't just rebuild their infrastructure to add terra, their platforms are solidity so we are that bridge through our partnership with anchor. We will have genesis airdrop to all Orion Money validator stakers.
https://twitter.com/orion_money/status/1435172727648837635?s=20
here is pretty simple example, we just partnered with Blockbank that has 45000 users, their users becoming essentially our users as we integrate our smart contracts infrastructure with their backend and their users will be able to access all the high stable rates directly on blockbank website
that just explains you little more on the potential. We are in active discussion with many projects that are looking to integrate with us. It feels like ethereum is a dry desert when it comes to high stable yields and we got that river flowing and can connect projects to it just to illustrate it a bit 😁
Q3: @Salorric
The market absolutely grew from nothing to over $120b and is still continuing to grow fast. So there is the need for stable high interest rates on stablecoins. How will Orion Money take advantage of this unique opportunity?
A:
exactly as mentioned above, we are very excited about this opportunity and moving very fast. The main goal is to build a strong foundation and I feel like we are just about there. We are planning 4 IDOs, 2 on Ethereum and 2 on Terra in coming weeks. We are about to announce those 2 on Ethereum in next couple days ! 🔥🔥 our token generation event and CEX / DEX listings are planning around end of this month. Once we go through all of this we will fully focus on integrations and building more and more users to Orion Money through our referral program, ambassador program and also business 2 business integrations
We have a lot of people excited about us and looking to help us to reach more people fast, its great to have such an amazing community around us
just to mention we've innovated from day 1 when instead of doing boring private sale and just adding couple VCs we decided to create something special and designed private farming concept, where users could deposit stablecoins to farm our tokens through 15% APY that we get from Anchor. In 3-1/2 days we got $70m+ in TVL and reached max cap for deposits to private farming! 🔥🔥
Q4: @MdAlvinur42
So i understand, Orion Money deposits stablecoins with EthAnchor, and they works with Terra. Why do you choose these platforms to work with? What are the unique benefits for the platform from them?
you might recognize some names from the participants 😁🔥
Q5: @Nguyen21Bad
Can you tell us about your Roadmap for this year and the future and any Updates on your Research and Development progress?
here is our general roadmap. We've launched Orion Saver already, you can already go to app.orion.money login with Metamask / Wallet Connect and start earning
we've also reduced the costs of deposits since gas and cross chain fees are pretty high
https://twitter.com/orion_money/status/1434878637275336714?s=20
we had a pretty detailed post about this
now our focus is on bringing Orion Money to other blockchains and L2 solutions, we are working on adding Polygon support very soon. Than expanding to Terra and BSC
We are also in discussions with StarkNet to have them as a partner for offering highest yields on ethereum to their customers
mid term goal is to enable high yield products and provide our own native insurance. We are collaborating with some upcoming Terra money markets protocols like Mars Protocol for example to offer even higher stable earnings on your stablecoins
our long term goal is provide people easy access to earning through fiat on ramps and off ramps directly on Orion Money. We are also looking to add Orion Pay to suites of our products where you will be able to spend your stablecoins easily with debit card
➡️Part 3: Free asking (5 best questions)
Q1:
Do you have any plans of recruiting ambassador programme for different countries to increase awareness of your project in the global level and who are not from english speaking countries?
A:
yes we are planning ambassador program post TGE, right now our main focus is on token launch and 2 very big IDOs that we will announce in next couple days
Q2:
What are the ways for your project to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
A:
every dApp that we are building and other thing we do is focusing on building more and more revenue sources for Orion Money. All the net revenue from everything we build is used to market buy Orion tokens and distribute to Orion stakers
are you will see here, we also have the largest validator on terra that have over $1b in Luna staked with us. We will introduce 5% commission on this validator in coming days and all revenue we collect through commission will be distributed to Orion Money stakers
Q3:
I see there are 2 insurances for investors provided by ORION MONEY, can you explain the significant difference between the two insurances?
A:
good question, we've added InsurAce option that covers smart contracts failure. 2nd insurance option with Unslashed covers potential UST depeg. We've seen very high demand for insurance products and many people asking about it so we're happy that we were able to add it that quick
Q4:
Do you also plan to have languages from around the world for your users to make a better understanding of your project?
A:
we are asking everyone with non-native english skills that is interested in our project, please get involved on our Telegram channel. We will be starting ambassador program and many international channels so will need admins for every language out there
Q5:
Do you have plan to add network like BSC where small transaction fees applies?
A:
yes we have BSC expansion on roadmap, also other blockchains like Terra
