The New Orca Arrives
- Total Rewards: Total rewards of ~3K ORCA for this rotation across all pools, plus additional project rewards on select pools. All pools are now open and rewards will begin on June 1st at ~24:00 UTC.
- If you are looking for concentrated liquidity pools on the Orca website, check under the Liquidity tab in the navigation menu. Standard pools have been deprecated and are now accessible via the Legacy Pools page. Read this migration guide to get all the details!
- The new Orca has arrived! Take a look for yourself and see what features you appreciate most.
- ORCA emission campaigns are also continuing, including SAMO, HNT, mSOL, stSOL, and SOL-USDT! Looks out for pools with project emissions as well, including Dual Finance with their staking option rewards!
🌊 New Ecosystem Reward Opportunities! 🌀
DUAL-USDC (0.30% fee tier) from Dual Finance
- DUAL-SO rewards: 1 Million DUAL-SO per week
🌊 Continuing ORCA Reward Opportunities! 🌀
ORCA-USDC (0.30% fee tier) from Orca
- ORCA rewards: 450 ORCA per week
ORCA-SOL (0.30% fee tier) from Orca
- ORCA rewards: 450 ORCA per week
ORCA-USDC (1.00% fee tier) from Orca
- ORCA rewards: 50 ORCA per week
ORCA-SOL (1.00% fee tier) from Orca
- ORCA rewards: 50 ORCA per week
SOL-USDT (1.00% fee tier) from Solana
- ORCA rewards: 100 ORCA per week
SOL-USDT (0.30% fee tier) from Solana
- ORCA rewards: 100 ORCA per week
SOL-USDT (0.05% fee tier) from Solana
- ORCA rewards: 100 ORCA per week
bSOL-SOL (0.01% fee tier) from SolBlaze
- ORCA rewards: 100 ORCA per week
bSOL-cgntSOL (0.01% fee tier) from SolBlaze and Cogent
- ORCA rewards: 25 ORCA per week
🌊 Continuing Ecosystem Reward Opportunities! 🌀
HNT-SOL (0.30% fee tier) from Helium
- HNT Rewards: 400 HNT per week
- ORCA rewards: 200 ORCA per week
HNT-IOT (0.30% fee tier) from Helium
- HNT rewards: 200 HNT per week
HNT-MOBILE (0.30% fee tier) from Helium
- HNT rewards: 200 HNT per week
SAMO-SOL (1.00% fee tier) from Samo
- SAMO rewards: 50,000 SAMO per week
- ORCA rewards: 50 ORCA per week
SAMO-USDC (1.00% fee tier) from Samo
- SAMO rewards: 50,000 SAMO per week
- ORCA rewards: 50 ORCA per week
stSOL-SOL (0.01% fee tier) from Lido
- LDO rewards: 250 LDO per week
- ORCA rewards: 250 ORCA per week (through at least June 8)
mSOL-SOL (0.01% fee tier) from Marinade
- MNDE rewards: 200 MNDE per week
- ORCA rewards: 250 ORCA per week (through at least June 8)
MNDE-mSOL (1.00% fee tier) from Marinade
- MNDE rewards: 3,000 MNDE per week
mSOL-USDH (0.30% fee tier) from Marinade
- MNDE rewards: 2,500 MNDE per week
TAKI-USDC (1.00% fee tier) from Taki
- TAKI rewards: 25,000 TAKI per week
ABR-USDC (0.30% fee tier) from Allbridge
- ABR rewards: 3,000 ABR per week
FTM-USDC (0.30% fee tier) from Allbridge
- ABR rewards: 200 ABR per week
LARIX-USDC (0.30% fee tier) from Larix
- LARIX rewards: 215,000 LARIX per week
BOO-SOL (0.30% fee tier) from BOO
- BOO rewards: 37.5 Billion BOO per week
BOP-USDC (1.00% fee tier) from Boring Protocol
- BOP rewards: 25,000 BOP per week
🌊 Deepsea Insights 🌏
One important aspect of providing liquidity is how an LP’s exposure to the underlying assets changes as price moves. As the price of Token A goes up relative to Token B, the LP position sells off Token A until the position reaches the edge of its range, at which point the position is made up entirely of Token B. This dynamic happens even faster when using a highly concentrated position to earn a high share of trading fees.
One way an LP can reduce this lost exposure to the upside (of Token A in our example) is to continuously sell fees earned in the form of Token B and buy Token A to help offset the changes to the composition of the position. Another common way LPs can reduce this exposure is if the project uses reward emissions of the token to compensate LPs for providing liquidity. However, there is also another way projects can incentivize LPs that might attract LPs who have a long directional view on their token. Projects can emit call options secured by the project’s own token.
Dual Finance is pioneering the use of call options as emissions on its DUAL-USDC pool and is emitting 1 million DUAL-SO calls per week for 10 weeks. Using Dual’s platform, projects can mint staking options backed by their own token, and use these as emissions for their liquidity pools, or even use them to award grants or compensate contributors. Dual also supports the creation of cash-secured puts which enables even more interesting use cases. Orca appreciates that Dual built all of this functionality in another example of something that is only possible on Solana.
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Disclaimer: The content of this communication is not financial advice and should not be relied on by any persons as financial advice. This communication has not been provided in consideration of any recipient’s financial needs. We have not conducted any financial assessment based on the personal circumstances of any recipients. Before using the protocol, carefully review all relevant documentation and consider risks including total loss of funds.
