3. Use Cases
Orbit Chain is a multi-asset chain based on Inter-Blockchain Protocol. The fact that various assets of different chains can be exchanged and used on a singular chain solves the biggest problem that previous blockchain-based protocols have in common, liquidity. Many DApps and protocols currently face problems overcoming the limitations provided by the platform they are based on, and as a result, have difficulties growing. The expansion of ecosystems are often hindered by the lack of connectivity to other ecosystems. Protocols, DApps, and even newer platform chains struggle not being connected to the larger ecosystems of Bitcoin, Ethereum and Ripple.
Sidechain for Public Chains
Orbit Chain is a hub chain of every public chain which is not dependent for a specific public chain. This means that with Orbit Chain, public chains can be connected to each other to solve the isolation issue and get flexibility and interoperability. One of the key benefits of using Orbit Chain is that it is able to provide borderless multi-chain asset cross transactions without developing a direct communication channel.
Orbit Chain is already supporting cross transactions between BTC, ETH, XRP and will connect Stable Coin based blockchains soon. This will give DApps more possibilities, utility and even a larger user pool from the various environments.
Benefits of Interoperability
Most public chains have their own DEX protocol, or run a DEX in which their own token is playing a trading pair role, but they face difficulties with the following:
Exchanging DApp tokens with other major coins/tokens other than their native token (DApp Token -> Main Chain Coin -> Centralization Exchange Transfers -> Other Coins/Tokens Exchange),
Securing liquidity and users, which is the most important feature of cryptocurrency exchanges, and
Developing 2-way pegging system between different chains. There always has been demand for an intercommunication system, but it is difficult to satisfy the demand because commercialized cases are rare and it requires high development resources to build the system.
Those problems are easily, quickly, and efficiently solved by Orbit Chain, which has demonstrated the high-level technology by operating and commercializing a pegging/interworking system for a year.
In the future, Orbit chain will become more diverse by adding more liquidity supply, enabling stable exchange of tokens and allowing cross-flow of cross-chain users through linking and interoperability.
Use Case 1. Decentralized Exchange
The most basic function that can be performed with currencies, of course, is exchange. Orbit Chain solves the problem that previous chains have had with liquidity and scalability. O-DEX is the decentralized exchange protocol based on Orbit Chain that allows exchange of currencies, on-chain.
O-DEX protocol (allbit.com)
Use Case 2. Decentralized Finance
As of recent, the need for decentralization of deposit/loan services of blockchain assets have been growing. As is with decentralized trading, liquidity and scalability are both important traits a chain must possess in operating decentralized protocols. Orbit Chain is the chain most optimized for such traits, and provides an excellent environment for DeFi protocols to develop on. Currently, the pool-based DeFi protocol, Divine, operates on Orbit Chain.
Divine protocol (trinito.io)
Use Case 3. Chain-to-Chain Bridge Gateway
Orbit Chain is a service that appeals not only to DApp and Decentralized Protocol developers, but to projects that want their blockchain to become connected to other chains. Simply by connecting their current chain to Orbit, they can utilize the assets of other chains within their own chain, thus gaining more liquidity for their chain.
Use Case 4. Multi-Asset Dapp
Many DApps get trapped within the confines of their platform once they start developing. This causes problems with liquidity, as once the development is somewhat complete, their assets may become limited in transferring to and from other chains.
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