Topic: safely maximising your returns with stablecoin investments
You can read all about this great partnership here: https://blog.insurace.io/orion-forms-strategic-partnership-with-insurace-io-d36e1a1fa2db
We will start in a few minutes.
We will be pausing the group to answer some initial questions before opening up the group to any community questions.
Sam: Orion Money
hey guys ! Really happy to be here with you and share some more about Orion Money !
Dan: InsurAce.io
Welcome @getitdone1 !
Sam: Orion Money
thanks for hosting D!
Dan: InsurAce.io
No problem at all! For anyone who doesnt know, I’m Dan Thomson the Marketing Director for InsurAce.io
Sam, Could you please give us a quick introduction to Orion Money and yourself?
Sam: Orion Money
sure
I think it would be useful if I share our Lite Paper here for some future longer read
https://orion-money.medium.com/orion-money-litepaper-release-7e98bb3acb6f
but shortly Orion Money’s vision is to become a cross-chain stablecoin bank providing seamless and frictionless stablecoin saving, lending, and spending. Within the Orion Money stablecoin bank, we have three main products planned — Orion Saver, Orion Yield and Insurance, and Orion Pay.
We are team of 11 people right now, including 3 co-founders, myself, Kos, and Vol
I’ve been in crypto since 2014 and watched entire space evolve and grow through all the bull and bear cycles
came across Terra back in 2019, when there was no TG channels for Terra, only discord 😁
I connected deeply with entire TFL team, recruited few people to join Terra team and was very active participant with community build out, actively involved in all TFL launches of Mirror Protocol and than Anchor Protocol
I came across Orion Money back in April when Vol and Kos submitted basic idea during hackathon
to enable high stable yields on stablecoins on ethereum
I connected with the vision and them first week of hackathon and asked to join the team
Dan: InsurAce.io
This is great, Orion Money sounds like a great alternative to traditional banking.
And that’s quite the crypto background! What a great 7 years to be in the industry.
The terra community is truly amazing, super engaged and some great projects are being built there now.
Dan: InsurAce.io
We actually had a question come through on twitter about this…
“How is Orion Money related to Anchor and Mirror?”
Sam: Orion Money
completely agree, I’m big believer in people, product and process when it comes to building companies and I saw Orion Money check marks all those points, so very excited to be part of Orion
Dan: InsurAce.io
Amazing!
Sam: Orion Money
Orion Money is utilizing Anchor protocol for high stable yields and the goal is to bring it to all major blockchains, starting from Ethereum than BSC and L2 as Polygon
Dan: InsurAce.io
That’s great, Anchor is a very popular project and we’ve regularly sold out capacity
Sam: Orion Money
here is little slide illustrating better how Anchor protocol works as the model is much different vs existing lending / borrowing protocols as AAVE or Compound
There are two type of people using Anchor protocol, 1. depositors, that deposit UST and earn stable high yield on their deposits
2. people that provide their proof of stake assets as collateral option to take loans against their collateral
on avg for every $3 of collateral provided there is $1 of loan given atm
collateral as bLuna earns for example 10% APR so at 2.5–3x ratio thats 25% — 30% APR what enables protocol to provide stable APY rates for depositors under 20% in sustainable way
Dan: InsurAce.io
that’s great!
Let me explain what coverage InsurAce.io is offering to Orion users
Sam: Orion Money
👍 please do, your policy saw some hot demand from our users 😁🔥
Dan: InsurAce.io
InsurAce.io is providing insurance services to users of Orion Money to protect them against smart contract hacks and bugs. Security is a top priority for most protocols, but there are always risks inherant in smart contracts that the teams, auditors and communities may miss. This is why InsurAce exists, and why we offer our services to great protocols like Orion Money.
Orion Money users therefore know their funds are safe and guaranteed when using the Orion Money savings accounts.
This means users can get those sweet returns, guaranteed and protected. There is currently a lot of capacity available on BSC but that may run out soon given the popularity of the protocol. We will look to extend the insurance capacity soon!
Orion Money users can simply go to the app.insurace.io app and select the quantity and time frame for their insurance requirements, from as little as 0.22% per month they can protect their assets.
Dan: InsurAce.io
These are some tasty numbers,
Can you please help us to understand how returns are generated on stablecoins a bit more and the major difference between Orion Money and other stablecoin investment projects?
And with a 2.6% annual insurance rate, sounds like users will still be walking away with some very significant returns!
Sam: Orion Money
as explained the APYs we offer on Ethereum and soon on other blockchains are powered by Anchor
atm Orion Money offers the highest stable yields on stablecoins as wUST, DAI, USDT, USDC, BUSD and FRAX when comparing with other Defi and Cefi protocol
Dan: InsurAce.io
That really is a much better return than those other projects! And that is not a bad list to be up against
Sam: Orion Money
but our goal is to increase them further as we optimize our protocol and try to reduce onboarding costs as high gas fees and slippage
we are also planning to launch Orion token by end of September, what will power up our rates even higher for up to 25% APY on your stablecoins when utilizing Orion token
for that we’ve designed 3-tiers of earning levels as per table above
Dan: InsurAce.io
Count me in!
25% APY, with 2.6% insurance cost means I’d be walking away with 22.4% without even having to think about it.
It makes for a great entry point for larger institutions and money into DeFi too
Any other exciting milestones that Orion Money is going to have? How can our community members learn more about the project and join the Orion Money community?
Sam: Orion Money
To learn more about Orion Money — follow us on Twitter: https://twitter.com/orion_money and join our TG group: https://t.me/Orion_Money
we have a roadmap and many exciting things in the development pipeline
you can connect and follow us on Twitter and TG
Dan: InsurAce.io
Awesome! Definitely worth a follow
I actually have one quick question for you…
Terra sometimes seems like it’s own little separate ecosystem, but the hype around it is enormous. Where can people go to learn more about Terra and the projects being built there?
Sam: Orion Money
I agree, Terra grew in popularity in recent months as it continuous to deliver more products and attracting many developers to build on Terra
Learn Terra is a great website put together by few community members that will keep you up to date with everything Terra
Dan: InsurAce.io
That’s great, I know a lot of people are keen to discover more here
We’ll now be opening up the group to any questions from our community about the Orion Money project.
We may only have time for one or two questions.
Sam: Orion Money
sounds great ! Happy to answer any questions !
Dan: InsurAce.io
Group is now open. Please ask any questions for Sam and the Orion Money project
Daniel Sento:
How the demand of your token will increase in the future? or what steps would you take to increase the demand?
Sam: Orion Money
that’s a great question, we essentially building Orion Money the way that every dApp or product we add will accrue value to Orion token
essentially we are not collecting any profits from the protocol but share all the profits with Orion token stakers
here you will find more high level overview on how token will accrue value, but you can also check our Lite Paper for more in depth write up about tokenomics and token value accrual
Myrle Brower:
Do you have an ambassador program available? If yes, how can I join it? And may I know what’s the benefit available for the ambassador?
Sam: Orion Money
not yet but something we are planning to add in coming weeks, so please follow us on our SM channels
Stv Mbng:
As you’re deeply and strongly related to anchor, what is your confidence in your ability to sustain such high rates when anchor’s rate will diminish ?
Dan: InsurAce.io
Thanks, I think this is a great question!
Sam: Orion Money
our focus is to build Orion Money in fully sustainable non-subsidized way. We started with Anchor as our core yield source but we are also partnering with other projects that are building on Terra which will enable us to offer even higher yields in the future
we are moving very fast and thanks to our other two co-founders that built very solid e-commerce analytics business in the past from 3 people to 300+ employees including 75 strong developers we are able to scale very quick, something not many new projects have
Dan: InsurAce.io
That’s all we have time for today guys, a huge thank you to @getitdone1 for taking the time today to talk to us about Orion Money, please do follow their channels and get involved in this great project. But always remember to insure your assets and stay safe in DeFi.
Thanks @getitdone1 !
This AMA will be available on our blog (blog.insurace.io) very soon for anyone who missed it.
Sam: Orion Money
ok thank you so much for having us and giving this opportunity to share more about Orion Money! Happy to answer any more questions directly in our TG !
