As Orbs layer 3 technology matures and multiple L3 use-cases roll out, the Orbs project is beginning to explore an exciting new phase—Orbs Tokenomics!
Orbs is launching a call for grant proposals under the Orbs Ecosystem Grant Program (OEGP), seeking research and proposals on the uses and utility of Orbs tokens to refine the token model.
Do you have an idea? We want to hear it!
Check out the full call for grants on the Orbs website.
In 2023, Orbs solidified its position as a leader in layer 3 technology, introducing innovative decentralized L3 execution services. The year was dedicated to usage, integrations, and recognition, and Orbs excelled in all three objectives.
The maturation of L3 technology opens new possibilities. While the original model envisioned dAPP developers paying a subscription fee, incorporating alternative uses and structures to the token model may prove advantageous.
All eyes are on 2024—the year to elevate the Orbs project to the next level!
Throughout 2023, the Orbs project has demonstrated remarkable productivity, launching a diverse array of use cases compatible with both EVM and non-EVM environments, all powered by the advanced Orbs L3 technology.
These innovative use cases have garnered substantial attention within the crypto community. This is evidenced by the increasing number of integrations with leading DeFi projects on the EVM side, or in the case of TON - earning official recognition as essential tools by the projects' foundations.
Notably, all these use-cases are currently operational, leveraging Orbs L3 decentralized services. While many are still in the initial stages of development, each holds significant potential to generate fees for those operating the network in exchange for the unique services they offer.
Here is a short summary of the major use cases powered by Orbs -
Tokenomics is a broad category covering the full set of incentives governing the various participants in a project. Proper tokenomics stands as a cornerstone in any crypto project, where the right incentive mechanism can enable a blockchain project to function and provide the services it is designed to produce, while a poorly designed system may lead to its inability to function. Given this critical importance, it demands a cautious and meticulous approach.
Even established projects such as Uniswap are continuously fine-tuning the role of their native tokens, like UNI. Teams and contributors engage in extensive research, aiming to arrive at the most optimal design.
Orbs has also undergone a good deal of evolution since its initial launch back in 2019. With the launch of the L3 concept and the growth of the various L3 use cases, 2024 presents an opportunity to take a fresh look at the tokenomics of the Orbs Network to make sure that the model optimally serves the mission of the project and enables its usage. While initially the project envisioned a model in which dAPP developers would pay a subscription fee, at this stage it is possible that incorporating other uses and structures to the token model, in addition to standard subscription, would be more appropriate. Recognizing this complexity, the Orbs project is initiating the process of gathering insights and opinions from the Orbs Community, stakeholders, and ecosystem experts—a vital step in shaping Orbs Tokenomics.