Orbs on BSC: Status Update

Eran Peled
Eran Peled

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3 months ago

blog

The recent launch of the Orbs Syrup pool on PancakeSwap marks an important milestone in the Orbs Network’s presence on BSC.

The Orbs Syrup pool on PancakeSwap enables Orbs liquidity providers to farm CAKE tokens and in addition, stake CAKE tokens to earn additional ORBS.

See this blog post for a short tutorial on how to participate in the pool:

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###A Significant On-chain Growth for Orbs on BSC So far, the Orbs Syrup pool is off to a flying start!

PancakeSwap has done a terrific job promoting this initiative: They have made several major announcements to the community and placed the Orbs Farm and Syrup pools in a key location on their UI. As a result, we can see very positive community engagement from the BSC users.

In addition, we can see significant growth for Orbs on BSC!

Looking at some key metrics taken from BscScan, shown in the infographic below, we notice some very interesting data:

The amount of ORBS tokens on BSC has increased from around 800k before the Syrup campaign, to just under 35M to date! Another parameter to watch is the number of addresses holding Orbs which grew from less than 100 to just under 1,000 during this time, a 10x increase!

Lastly, we can also see a dramatic increase in the number of total Orbs transfers and transfer amounts, indicating expanding activity for Orbs on BSC.

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A Strong Foundation is a Key

As with most things, setting down strong foundations is an important key for future growth.

In January 2021, Orbs launched the defi.org accelerator as a co-founder with Binance exchange, aimed to bootstrap new projects and DeFi protocols. Through defi.org, we learned a lot about the fast-growing BSC ecosystem and its huge potential.

Following that, the Orbs team integrated the ORBS token to the Anyswap cross-chain bridge and BscScan, which enabled Orbs holders to swap their tokens from the Ethereum mainnet to the BSC mainnet and track the transactions on BSC.

Next, Orbs went live on PancakeSwap, which is the most popular DEX/AMM on BSC, with a Total Value Locked (TVL) of just under $10B (!!) according to DefiStation.

All of these actions allowed for the seamless launch of the Orbs Syrup pool on PancakeSwap.

All in all, the Orbs Syrup pool has been a strong driver for Orbs on BSC as shown by the data. We even received some awesome recognition from the BSC team for our work so far. The Orbs team plans to leverage these efforts to further solidify the Orbs presence on BSC.

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Expect more to come – stay tuned!

For the latest updates, join the official Orbs Telegram group.

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