We are excited to announce that Solana will be the next chain for Orbs integration.
Following Ethereum, BSC and Polygon, Solana will become the fourth major blockchain infrastructure project to support the Orbs network.
As Orbs is becoming a major player in the DeFi space, it will have to be connected to all the major chains in the space. In this blog post we’ll review the current state of the L-1 crypto projects, and explain why Solana is the obvious next step for Orbs.
The Orbs team has already started working on this exciting next step in the Orbs roadmap. Expect more exciting news to come soon!
Not so long ago, it was speculated by prominent crypto OGs that the next wave of innovation will come from layer-2 projects, who will be the driver to crypto scaling and adoption.
However, from what we’re seeing in the current crypto market status, layer-1 (L-1) blockchain infrastructure projects have not said the final word. In recent weeks, top L-1 projects have been in the headlines, such as Cardano’s long-awaited implementation of smart contracts, Avalanche launching a whopping $180M grant program, and more. Furthermore, looking at the top projects by market cap, we can see many L-1 projects in the top 20 spots. Although Ethereum is still leading the pack, other projects have seen incredible growth lately, including, among others Cardano, Solana, Polkadot, Polygon, Avalanche, and Terra. Surely the L-1 race is still on, hinting at a multi-chain future in crypto!
As a result, multi-chain interoperability will play an increasingly important role in crypto. We are already seeing very interesting projects such as Synapse Protocol, who are set on powering frictionless interoperability between blockchains.
As always, Orbs is at the forefront of this unfolding trend in the crypto space. Being integrated to all the major chains: Ethereum, BSC, Polygon and now Solana (with more to come), will play a critical role in the success of the Orbs project.
Out of all the L-1 projects mentioned above, Solana stands out with its unique features, technological innovation, and growing ecosystem containing some of the hottest names in the industry.
Solana is an open source project implementing a new, high-performance, permissionless blockchain that provides fast, secure, scalable, decentralized apps and marketplaces. The Solana project is backed by some of the best and brightest in the crypto industry, including FTX, Serum, Terra and more.
In a relatively short time frame, Solana has managed to rapidly expand its ecosystem, boasting over 300 projects and counting. Some of these include DeFi powerhouses such as Serum and Raydium, the largest DEX-AMM currently on Solana with over $1.5B in TVL. Solana has also made a strong mark in the NFT space, with successful and cool projects such as Degen Ape Academy and Aurory.
Currently, Solana is positioned in the top 5 projects ranked by DeFi TVL. So far it has displayed incredible growth across all metrics and will definitely be something to look out for as it continues to develop. Orbs is excited to jump head-first into Solana and become part of its expanding ecosystem!
Since last year there has been a major expansion of the Orbs ecosystem, with a large focus on integrations with DeFi ecosystems. As Tal Kol, Orbs co-founder, explains in this 2 part video, we believe that DeFi will emerge as the killer app of blockchain technology.
Consequently, the Orbs ecosystem has expanded beyond Ethereum to include integration with two other major chains: Binance Smart Chain and Polygon, with Solana being the fourth major chain. In addition, Orbs has accelerated the integration of the Orbs ecosystem with over 17 major DeFi platforms such as UniSwap, SushiSwap, Balancer, PancakeSwap, AnySwap, Kyber Networks, 1inch, Alpaca Finance, Beefy Finance, QuickSwap, DinoSwap, and more.
After setting this strong foundation, the Orbs project has recently announced a new call for grants under the Orbs Ecosystem Grant Program (OEGP).
For this round, the focus will be on applications that will draw on the power of the Orbs Universe, with its Guardians and Delegators, using their ability to arrive at consensus through the Orbs protocol incentive layer powered by the ORBS token.
With its unique hybrid architecture, the Orbs project is designed for interoperability primarily with EVM (Ethereum Virtual Machine)-compatible blockchains such as Ethereum mainnet, Binance Smart Chain,Polygon and now, Solana. The EVM-compatible ecosystem is the most prolific in terms of asset liquidity and user engagement, particularly in the DeFi and NFT fields. Orbs Proof-of-Stake is implemented as a set of EVM contracts and ORBS is an ERC20 token, allowing for seamless integration between EVM chains and the Orbs ecosystem.
We are very excited about untapping the potential of Orbs in the DeFi space. Orbs multi-chain integration plays a critical role in this initiative. Already we are seeing applications of amazing innovative projects being developed on Orbs.
Expect more to come in the near future!