In the crypto world, this is a day of firsts. Orca (CCC: ORCA-USD) tokens have taken a wild trip as a result of a crucial announcement. ORCA has increased by nearly 45 percent in the last week, sparking strong speculation about Orca price forecasts and where this cryptocurrency may be headed.
Much of the excitement today stems from the fact that Coinbase has just classified ORCA as a coin (NASDAQ: COIN). What distinguishes ORCA is that it is the first SLF token to be published, comparable to ERC-20 tokens on the Ethereum (CCC:ETH-USD) network. Orca is a Solana (CCC: SOL-USD)-based enterprise that many investors have had on their radar for some time.
Of course, a Coinbase listing raises the token’s profile significantly. Indeed, investors looking for momentum bets in the crypto market will like where Orca is right now. Orca has certain key advantages over other Ethereum-based projects worth examining because it is based on Solana.
What is this article about?
In this piece, we’d like to introduce Orca, Solana’s only pure AMM DEX. We’ll talk about the following topics: What exactly is Orca? What distinguishes Orca?
What is ORCA Tokenomic and how can I buy and store ORCA tokens? Team members, investors, and strategic partners are all part of the road map.
Finally, Is ORCA a decent stock to buy?
Let’s figure it out together!
What exactly is Orca?
Orca is a Solana-based pure AMM DEX with its own liquidity pools. Unlike order book-based exchanges on Solana, the Orca team believes it is the greatest option because of its simplicity and scalability.
Background on ORCA — HOTP & TOTP
The challenge-response algorithm is an enhanced HOTP, the obvious next step in its evolution. Instead of using a counter as in HOTP, we can use any data (including time, as in TOTP) as an authentication challenge here.
Since 2004, HOTP OATH has been developing OTP algorithms. The Hash-based Message Authentication Code OTP method — HOTP — was the first result of their efforts, and it was published as an IETF (Internet Engineering Task Force) project in 2005.
The HOTP algorithm generates one-time passwords by combining a secret key and a counter. The token’s counter increases with each press of the device’s button, while the server counter increases with each validated OTP.
We’ve already written about HOTP, so we won’t go into detail here. Suffice it to say, the algorithm had a few flaws, and because technology changes at such a rapid pace, new security issues emerge at the same rate. As a result, OATH continues its search for the most reliable verification mechanism.
TOTP
The following expansion was released in 2008. Unlike HOTP, the new approach, Time-based One Time Password, or TOTP for short, does not employ a counter for server-user synchronization but instead produces a password based on the current time. The TOTP password has the advantage of having a limited lifetime, usually 30-60 seconds.
The end-TOTP user’s token contains a secret key and the current time value, which are hashed with any hash function and the resulting hash value is shortened, yielding a one-time password that should be submitted to the server. The server, in turn, possesses the same secret key as the user and, of course, the same time value. As a result, the server performs the same calculations and compares the results.
Finally, ORCA authentication was introduced in IETF RFC 6287 in 2010. The ORCA algorithm extended TOTP by incorporating a challenge-response model for calculating OTP values. The ability to identify the server distinguishes challenge-response authentication from prior techniques of authentication.
Features of ORCA Token
Orca has three key characteristics, which are as follows:
Swap: Using its own pool, Orca allows market players to swap tokens. It does not rely on Serum for liquidity.
Liquidity pools: Similar to other AMMs, LPs can offer liquidity to Orca’s pools in exchange for a portion of trading costs.
Aquafarm Yield Farming Program: Aquafarms will be formed from a subset of liquidity pools (not all of the pools). Currently, liquidity providers in Orca’s pools are compensated with trading fees. Liquidity providers in Aquafarms, on the other hand, will receive both trading fees and ORCA tokens. In the future, ORCA intends to introduce features that will allow other projects to add their own tokens as prizes.
What distinguishes Orca?
Orca uses the token-swap smart contract, which has been properly audited and is available for anyone to integrate with. Custom Orca pools can be freely created and traded by communities, projects, and market participants.
Orca, built on the Solana blockchain, provides for lightning-fast exchanges and cheap fees (one-second settlement, $0.00002 gas fees). To LPs, the 0.3 percent trading charge is automatically deposited into liquidity pools following each exchange.
ORCA token details in depth
Price of ORCA Users can now check the ORCA price on Coin98 Markets by going to markets.coin98.com/currencies/orca.
Coin98 Markets is a cryptocurrency asset price tracking website in the fast-rising cryptocurrency market.
More specifically, you may read the extensive information on each Token Metric from any project, as well as browse the project’s home page or community page, or filter the coins/tokens by Market Cap, Trading Volume, and so on.
The most important metrics ORCA Token is abbreviated as ORCA.
- ORCA is the ticker.
- Solana, blockchain.
- Contract: orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE
- Utility and governance tokens are the two types of tokens.
- ORCA circulating supply: 5,250,000
- 100,000,000 total supply
- The maximum supply is 100,000,000.
Allocation of ORCA Tokens
| Community, Liquidity Incentives, Airdrop | 66.1% |
| Team | 20% |
| Fundraising | 13% |
| Advisors | 0.9% |
Use-Cases for the ORCA Token
Utility: Liquidity providers earn a percentage of costs in exchange for the opportunity cost or transitory loss of providing capital.
Governance: Currently, liquidity providers receive 0.3 percent of all trades on product pools. Following the issuance of the governance token, the distribution will be changed as follows:
Liquidity Providers receive 0.25 percent.
- Orca Treasury pays 0.04 percent.
- Impact Fund receives 0.01 percent.
Please read The ORCA Governance Token: True Value on Orca’s Medium to see how the ORCA token truly reflects Orca’s value.
The Core
ORCA is a project built on the BSC blockchain that allows users to participate in a variety of crypto-related functions. Our reward system, as well as the combination of these assets, distinguishes us.
A low-cost, low-fee marketplace where you may submit NFT collections, with a simple user interface that allows you to go between blockchains to purchase or trade for NFTs.
An audit platform with low costs guided by specialists on multiple blockchains; we are also putting in place a specific checklist to reinforce the security given by audits, and we are rewarding our holders with rewards in crypto that will rotate between several cryptocurrencies every week.
As a result, holders can amass a variety of cryptos and have a greater motivation to hold their tokens during slower periods.
Updates & Roadmap
The Orca project and its team have not released any information about its roadmap. However, the Orca team reports that a number of key features are in the works and will be released in the next months, including:
The Bridge of the Sun (a UI for Wormhole, a decentralized bridge from Ethereum to Solana).
Pools that are steady (highly efficient trading of stablecoins and other similar-valued pairs).
As well as UI localization.
Is it wise to invest in Orca?
The following are some insights/highlights that should assist market players in making investing decisions.
Orca has grown rapidly since its inception in February, particularly with the debut of its token in August.
Its total value locked increased significantly four times in August 2021, putting the protocol in seventh place among the top highest TVL projects on the Solana chain.
The developers stated during Orca’s first AMA that its stable swap function will employ the same implementation as Curve but on the Solana blockchain.
The team also clarified that they have no plans to include Serum/Raydium liquidity, although they do expect liquidity to increase over time as more features are added to Orca. It will be really interesting to see what those features will be in the future.
The team, the investors, and the strategic partners
Founders/Advocates
Yutaro Mori, nicknamed raw falafel, is one of Orca’s co-founders. He is a software engineer with industry experience who noticed an opportunity in bitcoin during the 2017 bull market and abandoned his 9-to-5 software job. As a contributor to the Eth 2.0 Golang client and an engineer at UMA, he acquired his DeFi stripes.
Orca’s other co-founder and Head of Product is Grace Kwan, alias Ori. She received her B.S. and M.S. in Computer Science from Stanford University. She worked at Coursera as a software developer and IDEO Tokyo as an interaction designer. She specializes in simplifying complex technical systems into user-friendly products.
Orca’s first employee is Michael Hwang, aka tmoc. His strong awareness of the crypto field is ingrained in his degen DNA, and he has worked at both small companies and software behemoths like Google.
Milan Patel, also known as Milan, is Orca’s marketing genius. After graduating from Georgetown with a degree in Economics/International Development, he worked for the large banks at McKinsey.
Orca Price Predictions: What Will Happen to ORCA?
At the time of writing, ORCA is currently trading at $3.89 a token.
ORCA has one-year and five-year objectives of $6.10 and $19.04, respectively, according to Wallet Investor.
Similarly, Gov Capital estimates that ORCA may be worth $3.38 in a year.
Finally, Digitalcoin projects that this token will be worth $5.94, $8.38, and $16.26 in 2023, 2025, and 2029, respectively.
ORCA strives to be the best in the crypto field overall, addressing different difficulties identified by the team. ORCAis developing an easy-to-use, simple NFT marketplace with a concentration on cross-blockchain capabilities and verifiable collections. The transaction’s tax will be divided among the holders.
ORCA is also developing an audit platform with a bespoke checklist and digital imprints to prevent cloning. Their aggressive marketing plan to take over audit platforms and reward holders through earnings produced is also a whole new economic system never seen before, with a very low price.
