Orbiter Finance is a tool that helps users move Ethereum assets between different networks. It's a Layer 2 solution, which means it works on top of Ethereum to make things cheaper and faster.
What is Orbiter Finance
Here's how it works:
- Two Roles: In Orbiter Finance, there are "Senders" and "Makers". Senders are users who want to move their assets. Makers are like helpers who have assets on the network where the Sender wants to move their assets.
- How It Works: If you're a Sender, you put your assets into Orbiter's system. Then, Orbiter finds a Maker on the network where you want to send your assets. The Maker has the same kind of assets there. Your assets are then sent to the Maker's account on the new network.
- Paying the Maker: The Maker helps move your assets and gets a small fee for this service.
- Decentralized and Secure: Orbiter Finance isn't controlled by one person or company. It's decentralized, which makes it more secure.
In summary, Orbiter Finance is like a bridge that makes it easier and cheaper to move your Ethereum assets from one place to another. It's useful if you want to use different blockchain networks without paying a lot of fees.
Funding of Orbiter Finance
Undisclosed
Total Funds Raised
Undisclosed
Investment round
Led by Tiger Global, matrixport, A and T Capital, StarkWare, Mirana, Lemniscap, Dialectic, Loopring, Redpoint, Amber, cobo Ventures, imToken, Mask, ZONFF Partnets, Catchervc, GGV Capital, Formless Capital, DWEB3.
Orbiter Finance review
Pros
Secure
Orbiter employs a safety rollup technique, minimizing the risks typically associated with cross-L1 bridges.
Efficient & Fast
Transactions occur directly between the 'Sender's' and the 'Maker’s' externally owned addresses (EOAs), enhancing speed and reducing costs. Users don't have to interact with contract addresses, streamlining the process.
Ethereum-Native Asset Friendly
The platform supports Ethereum-native assets without the need for asset minting, ensuring comprehensive, decentralized liquidity support.
Cons
Early Development Risks
Being a new project, Orbiter Finance may encounter unforeseen bugs or issues, especially related to gas fees or transaction processing.
Liquidity Concerns
As a relatively recent addition to the DeFi space, Orbiter Finance might face liquidity challenges, potentially complicating the process of finding a Maker for asset transfers.