What is Orca (ORCA)?
ORCA is an SPL token. It’s the native token of the Orca decentralized exchange on the Solana blockchain. As a DEX, Orca offers fast transactions and low transaction fees. It’s considered to be user-friendly and offers a range of other DeFi services, including liquidity pool contributions and yield farming. You can take a look at the Orca price market performance in the chart above.
Who Are the Founders of Orca?
Orca was created by Grace Kwan and Yutaro Mori. Kwan is a UX engineer who has worked on a range of projects related to digital education and 5G technology. Mori is a software engineer who has brought his technical expertise to the project.
The goal of Orca was to offer a user-friendly automated market maker (AMM). The Solana blockchain was chosen given its performance speed and very low transaction costs. Users can exchange a range of different assets, including the ORCA token.
Orca launched in March 2021. Since its release, the Orca price has been volatile and followed the general crypto market trends. Its volatility had its first peak in September 2021, when the asset value more than tripled in a span of five days, going from $5 to $16.
During its first year on the market, the reported all-time high occurred in November 2021, reflecting the performance of assets like Bitcoin (BTC) and Ethereum (ETH). The asset peaked at the Orca price of $22.30 on November 16th.
What Are the Tokenomics of Orca?
Orca’s total supply is 100 million tokens. The initial circulating supply is set to 5.25 million. Since the ORCA price is not pegged to any other asset, it can change based on market conditions and available supply.
Users are rewarded for their contributions to the network. Liquidity providers receive part of the transaction fees. The amount they earn is based on how much liquidity they inject into the pools, known as Whirlpools.
ORCA also acts as the platform’s governance token. Any decisions regarding the Orca protocol are made when the members of the decentralized autonomous organization (DAO) vote using their governance tokens. Community engagement is also incentivized using ORCA tokens as rewards for participation.
In addition to user-friendly exchange services, the Orca crypto platform is also committed to making the blockchain space more eco-friendly. Part of the service fees is delegated to fund various charities that bring awareness to and fight climate change.
