Introducing Orby’s protocol tokens — $ORB and $esORB
$ORB and $esORB are the twin stars of our mission, shining bright with potential.
Orby network is a crypto lending protocol that offers interest-free borrowing of $USC, Orby’s native stablecoin. Orby’s ecosystem will be driven by 2 tokens, namely $ORB and $esORB.
What is $ORB?
$ORB is the protocol’s native token and will be a tradable token on DEXs and CEXs.
To unlock further utility for the token, you can deposit it in the Vault🔐.
What is $esORB?
$esORB is the time-locked version of $ORB and is a non-tradable or transferable.
$esORB:
- Can be deposited into the Vault to unlock rewards similar to $ORB depositors
- Can be converted to $ORB (following a 90-day conversion period)
- Is pegged 1:1 with the price of $ORB
The Vault🔐?
Holders that deposit $esORB and/or $ORB into the Vault both enjoy the same rate rewards, including:
- More $esORB
- Share of protocol revenue
- Stability fuel — a further boost of $esORB rewards for users who are Stability Pool depositors
Any $esORB and/or $ORB withdrawn from the Vault has to undergo a 90-day cooldown period before it can be claimed to a user’s wallet.
During this cool down period:
- $esORB and $ORB will not earn any rewards
- Tokens are only available to be claimed to a user’s wallet after the end of 90 days
- All $esORB will be converted to $ORB at the end of the period
- Cooldown period is not reversible — any tokens currently in cool down cannot be moved back into the Vault
- Users can cool-down tokens anytime. Any tokens newly added for cooldown will have their own 90 day countdown
What is Stability Fuel?
Stability Fuel is a feature that allows users to deposit $esORB or $ORB in the Vault to boost the APR of Stability Pool. Stability Pool depositors who deposit their $esORB or $ORB in the Vault will be able to earn a higher share of the $esORB emission and $USC revenue sharing of Stability Pool.
Higher amount of $esORB and $ORB deposited in the Vault will give you a higher boost multiplier. The boost multiplier will be used to multiply the value of staked $USC, such that you can earn a higher share of emission with the same amount of $USC staked.
For instance, Alice has deposited $1,000 USC and Bob has deposited $500 USC in the Stability Pool. Assuming Alice and Bob are the only 2 depositors in the Stability Pool (and have not deposited $esORB in the Stability Pool), Alice will get 67% of the reward allocation, and Bob will get 33%.
With the Stability Fuel feature, Bob also staked $esORB in Vault, which gives him 2x Boost Multiplier. As a result, Bob’s staked $USC will be multiplied by 2, making it worth $1,000 USC. In this case, Alice and Bob’s Stability Pool reward share will both be 50%.
The total Stability Fuel multiplier will be up to 2x.
Rewarding early supporters
We will be launching a rewards point system to acknowledge the contributions of early Orby participants, such as individuals who mint $USC and deposit into the SP. 😉
Till the next update, Orby!🛰️
