Polkadot powered reinsurance platform UnoRe integrates with Orion Protocol
Orion Protocol, a layer-2 solution that enables users to access deep, cross-chain liquidity across DEXs, CEXs, and swap pools, today announced UnoRe as the latest partner to use the Orion Liquidity Boost Plugin (LBP). This integration will provide additional liquidity to UnoRe’s reinsurance risk pools while bringing additional volume to the Orion Network.
UnoRe is a unique reinsurance platform based on Polkadot, allowing retail users to invest and trade on insurance products. Being the world’s first solution to enable decentralized reinsurance means further accessibility for the general public can take place without requiring high capital. UnoRe brings an increased level of transparency to the industry and with that, the community can be involved with proposals for new and innovative products.
UnoRe + Orion
The integration with Orion Protocol brings cross-chain liquidity from CEXs, DEXs, and swap pools to UnoRe’s risk pools. UnoRe will also provide reinsurance to the insurance protocols used by Orion Protocol, providing another layer of protection for users.
Meanwhile, Orion traders will have the opportunity of accessing UnoRe’s risk trading platform through Orion Terminal; being able to trade UnoRe’s reinsurance risk pools and derivatives. Orion users will also be able to participate in UnoRe’s risk pools for high returns.
As with each DeFi enterprise product, Orion receives a transaction fee. This is fed back to the decentralized brokerage and to the non-broker stakers as rewards. Further, UnoRe further strengthens Orion’s link to the Polkadot ecosystem; with integration for Polkadot set for the Orion Terminal.
”Collaborating with the world’s first decentralized reinsurance platform is an exciting prospect. We are creating an even greater level of access for Orion’s users to be able to use UnoRe’s risk trading platform via the Orion Terminal. UnoRe is a welcome addition to our growing network of Liquidity Boost Plugin partners looking to drive expansion via endless liquidity.”
– Alexey Koloskov, CEO of Orion Protocol
Each of Orion’s LBP partners has one thing in common: the need for liquidity in order for their project to become sustainable. LBP clients are hand-picked and fully vetted as top-quality partners focused on user base growth as a key metric of success. Every transaction using Orion liquidity will result in a transaction on the Protocol met with regular fees, adding to daily protocol volume. ORN staking rewards are generated via transactions on the protocol, and will therefore increase through B2B partnerships.
“UnoRe and Orion share a common mission of expanding the existing DeFi networks; while breaking down current barriers to financial instruments. Our partnership with Orion Protocol will enable UnoRe to gain access to additional liquidity from the entire crypto trading community. Users will now be able to trade on our risk trading platform directly from Orion’s trading terminal.”
– Sujith Sizon, CTO and Co-Founder of UnoRe