For years, centralized exchanges (CEXs) have served as the primary destination for crypto traders seeking entry into the ecosystem. Yet, these exchanges have come under the scrutiny of governments and financial regulators worldwide in recent months.
Leading CEXs like Coinbase, Binance, and Gemini have fallen afoul of governments several times, leading to the rollout of stringent crypto regulation policies. In some cases, governments have outright banned certain centralized exchanges from operating in their jurisdictions. For instance, a Financial Conduct Authority (FCA) ruling has banned Binance from operating within the UK’s borders.
Unfortunately, the challenge with CEXs isn’t just limited to government regulations. From registering an account to undergoing complex KYC and AML procedures, using CEXs is becoming increasingly complicated for ordinary users. Moreover, when users create an account, they cede custody and control of their digital assets to the service provider, which is a concern for many.
Decentralized exchanges (DEXs) emerged as a viable solution for the problems clouding CEXs. However, operating a wallet on a DEX requires considerable knowledge and experience. Additionally, DEXs don’t support fiat transactions, liquidity conditions can deteriorate rapidly, and the user interfaces aren’t as straightforward as more intuitive CEXs.
This is where Orion Protocol comes to the rescue, offering users global and decentralized access to the entire crypto market. The automated market-maker (AMM) platform aggregates all CEXs, DEXs, and swap pools through its Orion Terminal, granting users access to centralized exchange liquidity, irrespective of location.
Borderless Trading Without Multiple Accounts Or Complex KYC
Powered by the ORN token, Orion Protocol is the first and only decentralized platform that serves as the gateway to the entire crypto market. Orion Terminal seamlessly aggregates liquidity from cryptocurrency exchanges, both centralized and decentralized, to provide various trading tools within a unified platform.
As the only platform to successfully aggregate cross-chain liquidity, Orion allows its users to seamlessly access significant exchanges like Binance and KuCoin without any geographical constraints. Additionally, users can route their orders across multiple exchanges and liquidity providers like AMMs, ensuring better order execution with a more limited market impact.
Orion uses the Delegated Proof of Broker consensus mechanism, which eliminates the need for users to sign-up for multiple accounts or undergo multiple KYC and AML verifications. Pre-verified brokers and exchanges use the Orion Terminal and the Orion Broker Software to execute trade orders on behalf of the customer.
Since the brokers and exchanges have already completed their KYC and AML procedures, users don’t need to do it again. Additionally, users don’t need to go through the hassle of creating and maintaining multiple digital wallets and trading accounts across CEXs and DEXs.
By virtue of Orion’s proprietary consensus mechanism, traders and exchanges stake ORN to apply, and the underlying smart contracts handle the remainder of the process. As a result, traders and exchanges don’t gain access to user’s wallets, but users get access to the entire crypto market under the umbrella of a single account.
Amidst the tightening noose of regulations, complex region-specific policies, and demand for solutions that bring together the best attributes of both DEXs and CEXs, Orion Protocol has established itself as the sole decentralized platform enabling global participation in the growing crypto ecosystem.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.