Orca is thrilled to announce that it is Solana’s primary on-chain liquidity venue for PayPal’s USD-backed stablecoin, PYUSD. This marks a monumental step forward for both Orca and the broader Solana ecosystem.
PYUSD is live on Orca 🐳
Let’s dive deeper into the details!
A Unique Opportunity for Orca
This unique opportunity enhances Orca’s position as the most trusted DEX on Solana for the deepest liquidity on this important new stablecoin. By being the primary source for $PYUSD liquidity, Orca enhances its position as the leading DEX on Solana bringing deep liquidity of this new RWA to the Orca and Solana communities. Being issued by PayPal and directly integrated into PayPal and Venmo, $PYUSD brings a new level of credibility and distribution to digital assets on Solana.
To celebrate this launch and to encourage active participation, Orca is providing incentives for the Orca community.
For a limited time, Orca will offer $PYUSD and $ORCA rewards for providing liquidity to the PYUSD/USDC pair!
This is an excellent opportunity for LPs (Liquidity Providers) to benefit from increased rewards while contributing to the overall liquidity of this new stable pool.
Mechanics
PayPal is leveraging Token Extensions, the innovative protocol-level feature set for tokens on Solana, for $PYUSD. Being a new program, Orca devs sprinted to update the Whirpool smart contract to support institutional-grade Token Extensions. Orca is proud to be the first CLAMM to support many extensions, including TransferHook.
Orca plans to build support for more Extensions over time, allowing for new use cases for digital assets only possible on Solana. For more details on Orca’s Token Extension support, check the Token Extension Docs or reach out in the Orca Discord!
Join Us in This Exciting Journey
The integration of $PYUSD on Orca is an important step in expanding choice for Orca’s users and solidifying our position as the go-to DEX on Solana. Orca invites all podmates to participate in this campaign, explore the benefits of $PYUSD, and join us in this exciting journey.
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.
