AMA Recap with Orion Money

On the 15th of September, 2021 at 16:00 UTC, Decentralized Club had the honor of hosting Mr. Sam, Co-Founder of Orion Money for an Ask-Me-Anything session on their Telegram page with a community of over 45,000 people. It was hosted by DC Admin, May.

 

The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.

 

If you missed this event and would like to know what Orion Money is all about, you can find a recap of the interview here. Note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.

 

Segment 1 – Introduction

 

[May]

Hello, 大家好, नमस्ते, Selamat!

 

My name is May and I’ll be hosting the AMA with Orion Money.

 

Today, we have with us a guest from the Orion Money Team.

 

[Sam]

Hey guys!

 

I’m happy to be here and share with you about Orion Money

 

[May]

You’re welcome to the Decentralized Club and we’re excited to have you here.

 

How’s your day going?

 

[Sam]

super busy

 

actually, just one minute ago we’ve announced our 2nd IDO partner

 

 

[May]

That’s great news!

 

[Sam]

 

just yesterday we’ve announced DAO Maker too, for first time in a very long time those two platforms came together to IDO the same project 🔥🔥🔥

 

[May]

Congratulations 🥳

 

[May]

I’ve heard so much about your project! (Shout out to your publicity team)

 

Can’t wait to know all about it!

 

Before we start the session properly, could you quickly tell us more about yourself and your job description at Orion Money?

 

[Sam]

thank you May, sure, I’m one of the 3 co-founders of Orion Money. A little background on myself, I started my journey with crypto back in 2014, the time when I first came across bitcoin while doing a deep dive into monetary policies, gold investing.

 

Over the last 7 years, I invested in different projects and kept a close eye on the entire industry and how it evolved. I experienced most of the crypto bull and bear runs and saw how in recent years the stablecoins market started to grow and how more and more investors started to diversify their portfolio into stablecoins. I came across Terra back in 2019 and if you don’t know anything about Terra just shortly it’s the only decentralized Algo stablecoins blockchain with Luna being the only asset that captures value the growth of the stablecoins market.

 

I realized that Terra has something that no other blockchain has. Back then there was no community for Terra, there was just one discord channel so I decided to join the core community and help grow it from day one. Today I’m proud to say we have one of the largest and most passionate communities in the space

 

I invested and was part of every project that launched on Terra from day 1 and came across Orion Money when Vol and Kos (the other 2 co-founders ) submitted this basic but pretty profound idea to the hackathon, to bring anchor protocol high stable yields to other blockchains, starting from ethereum and enable easy spending of stablecoins in the real world.

 

I immediately joined the team in the first week of the hackathon, we ended up winning the hackathon and we went full speed on development. We’ve launched our first initial MVP version of Orion Saver app.orion.money during the hackathon, guys built it essentially in 48 hours during hackathon 😁

 

little feedback on the other two co-founders, they’ve managed to build a big e-commerce analytics business in the real world. They started with 3 founders and expanded to 300+ employees out of which 75+ were hardcore developers and engineers. Their customers were Amazon, Walmart, Coca-Cola + 150+ large worldwide brands, they sold the company last year to a private equity firm and took some break, looked what else to do in their life long term ( 10+ years )

 

they came across Terra back in March and decided to build Orion Money

 

and that’s how our journey started together 😁

 

[May]

Whoa! We have a legend in our midst!

 

I hope you put your cape on for this interview? 😁

 

[Sam]

Haha I’m ready to share, I’m a humble man

 

[May]

😎

 

*insert superhero soundtrack*

 

[Sam]

😂

 

[May]

😁😁😁

 

[May]

Let’s take some questions for Orion Money 🙂

 

Q1. Can you tell us about Orion Money and the goals that led to the creation?

 

[Sam]

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.

 

[May]

👏🏼👏🏼👏🏼

 

[Sam]

We’ve created Orion Money because we’ve seen DeFi and CeFi yields on stablecoins are laughable when anchor protocol on Terra provides sustainable high rates. We saw this as a great opportunity to partner with the anchor team early on and expand anchor offering to all the blockchains, starting from Ethereum

 

https://t.me/decentralized_club/605780

 

[Sam]

we are a full defi project, non-custodial where users can go today to the app.orion.money login with their metamask / wallet connect and tap into those amazing/stable APY rates directly on ethereum

 

[May]

Awesome!

 

[Sam]

our entire infrastructure is smart-contract based

 

[May]

Q2. What innovative solution is Orion Money bringing to topple its competitors with similar offerings?

 

[Sam]

We see ourselves as a cross-chain stablecoins bank. First and our core solution is to become the source of high yields on ethereum for our users but also for other projects, protocols, DAOs, etc

 

 

as an example here you can read some more of our recent partnership with blockbank

 

where we can just plug in our smart contracts infrastructure into their backend and enable their 45000 users to get high stable yields on their stablecoins without leaving the blockbank platform

 

[May]

Q3. Can you tell us about your staking/yield farms and the rewards? How can we participate?

 

[Sam]

sure, we are about to introduce our staking and LPing at TGE, that’s scheduled to go live by end of this month, post CEX / DEX listings

 

but besides that, we are working to introduce 3 tier earning levels on stablecoins

 

https://t.me/decentralized_club/605793

 

[Sam]

here is a little breakdown of targeted rates

 

if you hold Orion tokens as a % of your portfolio you will automatically move to a higher earning level, up to 20% APY if you hold 15% + of your portfolio value in Orion token

 

now if you choose to receive your interest in Orion tokens, we call it “boost”, you will be able to get up to 25% APY on your stablecoins

 

What’s most important to add this is all done in smart contracts, so you retain the keys to your wallet. as often said “not your keys, not your funds”

 

[May]

This is great, really!

 

Q4. Could you briefly talk about $ORION and its utilities?

 

[Sam]

Ok to start, Orion Money is a 100% non-profit tech startup, we don’t take any net revenue from every dApp, tokenomics design, or validator services

 

all the revenue we generate will be used to market buy Orion tokens and we will distribute them to Orion stakers

 

with time we are planning to transition to full DAO where the community will be deciding and voting on all important decisions for the Orion Money protocol

 

https://t.me/decentralized_club/605804

 

[Sam]

we’ve already designed from start some value accrual tokenomics that will create constant buying pressure on the token

 

We also have the largest validator on Terra with over $1b in staked Luna delegations. We are about to turn on a 5% commission on it and all net profits will be used to purchase Orion tokens on the open market

 

[May]

Q5. What are the advantages of Orion Money on the Terra (Luna) Network?

 

[Sam]

we are pretty much-taking everything that Terra has to offer and bringing it to other blockchains starting from Anchor top rates

 

[May]

Nice!

 

Q6. What major news should we still look forward to from Orion Money by the end of the year?

 

[Sam]

haha, you will hear a lot of great news about Orion in the coming weeks and months. Many partnerships at work and new product releases.

 

[May]

Great!

 

Can’t wait!

 

Let’s take some Twitter questions, shall we?

 

Segment 2 – Twitter Questions

 

[May]

Q1. I would like to know more about the ORION VALIDATOR and also if there will be an extension for the ORION SAVER or private farming whitelist program?

 

Twitter Username: @theyasflower

 

[Sam]

Orion Validator is a community-centric validator where all commission earned is distributed to Orion stakers

 

Orion Saver is available to anyone without whitelisting today app.orion.money

 

community farming is closed already but don’t worry, we will have another campaign similar to community farming, we saw amazing interest from the community and wanted to give back more to those that missed out

 

[May]

Q2. They highlight that the Orion Money development team is focused on being the best place in DeFi to save, lend and spend on stablecoins, but when investors want to take their profits to FIAT money, how can you do this process, maybe through Orion Money they can do that or not?

 

Twitter Username: @Pirry05Universe

 

[Sam]

you will be able to do it in the future, we are planning Orion Pay with fiat on/off-ramp and debit cards in 2022

 

https://t.me/decentralized_club/605829

 

[Sam]

check our high-level roadmap above

 

[May]

Q3. We may be able to gain the most consistent income in crypto using OrionSaver. What is the highest APR/APY that Orion Saver can offer? What is the minimum amount of money that we can put into this project? Can you just go into more detail about Orion Saver? Is there a lock-in time since its yield will be stable?

 

Twitter Username: @imwiiw27

 

[Sam]

the min deposit amount on ethereum is $100, max stable APY that you can earn on stablecoins is 25%

 

no lock-up periods, fully non-custodial experience

 

[May]

Great answers!

 

Let’s now take three questions from our website community.

 

Segment 3 – Website Questions

 

[May]

Q1. I read that Orion wants to be a cross-chain stablecoin bank with exclusive features. But why do you think the potential of your project lies in stablecoins? Can you tell us more about the three major products launched? When can we expect innovations?

 

Telegram Username: @albertjaison

 

[Sam]

our core product offering is stablecoins because of how fast the stablecoins market is growing

 

we will expand with other products including high yield and insurance, debit cards, Orion Pay, liquid staking, etc

 

[May]

Q2. Orion Money has different APY Levels for Orion Saver: Earth, Seasonal, and Moon. Can you explain the difference between each of them? Which level offers the highest APY? How can each of these levels be accessed to get the best performance that stablecoins can offer within Orion Money?

 

Telegram Username: @Thomas23P

 

[Sam]

the highest level is the moon level

 

up to 25%

 

please refer to that slide for more details

 

https://t.me/decentralized_club/605793

 

[May]

Q3. Sir, I am interested in all the details of the expected turnout for your upcoming TGE event this September. Has then also been an IDO? How can interested people or possible investors be a part of all these events (TGE, IDO, and others)? Thank you

 

Telegram Username: @Dhir007

 

[Sam]

sure, we just announced IDOs with Polkastarter and DAO Maker, check the beginning of the AMA session for more details or follow our social media channels for more announcements and details about IDOs in the coming days

 

Explore Orion Money

 

Website- http://orion.money/

Twitter – https://twitter.com/orion_money

Telegram – https://t.me/Orion_Money

Medium- https://orion-money.medium.com/

Discord – https://discord.gg/5vbWB2PWeS

 

[May]

Concise yet powerful answers!

 

It’s now time to take questions from our live audience.

 

[Sam]

sure

 

[May]

In this 4th segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

 

Please pick four original questions to answer.

 

Try to ignore generic, vague, and copy-paste questions 😊

 

Ready?

 

[Sam]

yes!

 

—Chat was then opened for the live community to send in their questions—

 

Segment 4 – Live Questions

 

[May]

Guest, please pick four original questions now.

 

[Sam]

will do

 

[Dhir]

Sir, can you please send Decentralized Club all the links where we can stay updated with events from Orion Money, including the IDO, and also links to buy $ORION as I believe the project is going to take off really soon and I don’t wanna miss any bit. Thank you.

 

[Sam]

sure will definitely do and the timing is perfect since we just announced today/yesterday DAO Maker and Polkastarter partnerships

 

Orion Money becomes the first Terra ecosystem project to launch on Ethereum. RocketRocketRocket

We are excited to launch the $ORION token with DaoMaker SHO on Sept 27th

Please read here: https://orion-money.medium.com/orion-money-will-ido-on-daomaker-to-redefine-stablecoin-banking-470fccb71539

More great news coming soon!

 

 

[Lestmaris Vera]

Other projects that provide interest in stablecoins would be Orion’s competition, comparing current ethereum defi / cefi returns on stablecoins. What is the performance of Orion? Compared to Cefi, are stable coins better?

 

[Sam]

I believe Defi is the future, Cefi is great too if you like someone else to handle your funds. Right now we have the highest stable APY rates on ethereum, that’s an amazing offering, we like to see other projects as partners rather than competition. I think we can become another partnership crusade project just like chainlink was a few years ago

 

[Crypto Flower]

I noticed that in your Orion Money App you have the option of “Insurance Coverage”, could you tell us a little bit about this? Do you have different insurance options? How is it possible to get one? How much do these insurances cover?

 

[Sam]

if you click on that option you will see both and it explains one coverage is for smart contracts failure and another for UST depeg

 

[May]

1️⃣ more question 🎉

 

[Oliver]

How do you manage to guarantee this much APY? Would you explain a little more about how you could make it work?

 

[Sam]

through anchor protocol integration where the yields come from proof of stake assets that are provided as collateral against the loans. As you know POS assets earn stable APY from fees network collects + inflation. When you do that on an overcollateralized basis you can get even higher than 25% APY considering loans to collateral ratio on avg is 3 – 1

 

[May]

Aaaannnndddd it’s a wrap! 🎉

 

Mr. Sam, thank you so much for your time!

 

It’s been a delight hosting you for DC today.

 

Any final remarks for our community?

 

[Sam]

thank you so much for having me here, I’m really glad that I could share some more about Orion Money with you guys, if any questions please come visit our channel and help us bring Orion Money to the 🌔 remember IDOs Sept 27th and Sept 28th, TGE Sept 29th!

 

Explore Orion Money

 

Website- http://orion.money/

Twitter – https://twitter.com/orion_money

Telegram – https://t.me/Orion_Money

Medium- https://orion-money.medium.com/

Discord – https://discord.gg/5vbWB2PWeS

 

[May]

Thank you so much and all the best with your upcoming IDO!

 

Our regards to the rest of the team at Orion Money who are dedicated to making things work this well!

 

Until next time, do have a great day.

 

The AMA with Orion Money is now over.

 

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