The first half of 2024 has passed quickly with significant updates from Orca and the wider Solana ecosystem. Orca is happy to present the notable updates and key figures below for Orca as a protocol during Q2 2024 (April 1 — June 30, 2024).
Orca at a Glance
In Q2 2024 (from April 1, 2024 to June 30, 2024), Orca reached $34.6 billion in trading volume, generated $59.2 million in LP fees, and earned $5.3 million in protocol revenue, with 2 million unique wallets and 26 thousand unique liquidity providers.
Now let’s take a dive into Orca’s treasury.
Token Treasury
Wallet : Token Treasury Wallet
Amount : 40,164,206.89 ORCA (as of June 30, 2024)
Notes
- Token allocation within the treasury remains unchanged since the previous treasury report.
- In recent months, ORCA rewards have been activated for notable launches such as Paypal’s stablecoin PYUSD, but no other material rewards have been issued.
Fee Treasury
Wallet : Fee Wallet
Amount : Market value of US $22,182,700 (as of June 30, 2024)
Notes
- Orca’s protocol fee revenue for Q2 2024 was US $5.3 million.
- For the first half of 2024 (January 1 — June 30, 2024), Orca generated US $13.5 million in protocol fee revenue.*
- The average monthly protocol fee revenue remains approximately US $2.25 million.
*The previous issue regarding Solana’s network congestions was resolved, and the impacted fees were converted into the Fee Treasury wallet
Climate Fund
Wallet: Climate Fund Wallet
Amount: $ Market value of 2,332,299.23 (as of June 30, 2024)
Notes
- Orca’s Climate Fund grew by US $400k in Q2 2024.
- The Orca Climate Fund working group continues to support organizations & groups focused on combating climate change.
- For those interested in applying for a Climate Fund grant or learning more, please visit Orca Climate Fund for further details.
Conclusion
Orca’s stable growth across all key metrics demonstrates its strength despite recent market volatility. During the first half of 2024, Orca achieved $78.8 billion in trading volume and $125 million in liquidity provider fees, highlighting this steady growth.
The launch of Orca V2 Open Beta has received positive feedback, fueling our drive to deliver the best DeFi experience on Solana. The simplicity of the UI flow is designed to ensure that Orca’s core users — traders, liquidity providers, asset issuers, and builders — have access to the best experience.
Looking ahead, Orca has a number of improvements and exciting developments planned for the remainder of 2024.
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Make sure to follow Orca on its journey to provide the most trusted, secure, and easy DeFi experience on Solana.
Until Treasury Report #7!
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Disclaimer: The content of this communication is not financial, legal, business, tax, accounting, or other advice and should not be relied on by any persons as such advice. This communication has not been provided in consideration of any recipient’s financial status or needs. No assessment has been conducted in relation to these issues based on the personal circumstances of any recipient. Each person should consider the contents herein in light of such person’s particular circumstances and consult its own advisors as to legal, business, tax, accounting, financial, and other related matters. Before using the Orca protocol, carefully review all relevant documentation and consider risks, including, without limitation, total loss of funds.
