Orca Light Report 


A decentralized exchange on Solana

  • Orca is a decentralized exchange that leverages using the automated market maker (AMM) model on the Solana blockchain. 
  • ORCA is the native governance token of the Orca Protocol. 
  • The Orca Protocol concentrated liquidity pools called “Whirlpools”. Concentrated liquidity pools allow users to provide liquidity only in a specified price range. These are similar to Uniswap v3. Each liquidity provider chooses the price range within which they want to provide liquidity, and trades are executed using the combined liquidity of all individual curves currently in range. This translates into a higher level of capital efficiency for the liquidity providers, but impermanent loss (divergence loss) is also amplified in Whirlpools.
  • The Orca Protocol features a yield farming program called Aquafarms. Aquafarm LPs earn both trading fees and ORCA emissions. Double-Dip Pools are a special kind of Aquafarm that allow LP holders to earn additional tokens. 
  • The ORCA token has a total supply of 100,000,000 (100 million) and an initial circulating supply of 5.25 million.
  • 66% of the tokens go to community and governance initiatives, 20% go to the team, 9.6% go to series A investors, 4.3% go to advisors. All team members, advisors, and future investors will receive ORCA with a 3-year vesting schedule and 1-year cliff or lockup. ORCA token emissions are directed towards liquidity providers. ORCA emissions are adjusted, together with the selection of liquidity pairs, every two weeks. There have not been any public sales of the ORCA token.
  • ORCA token holders may participate in governance
  • The ORCA Protocol features an Orca Javascript SDK which allows developers to obtain pool and farm addresses, as well as price quotes. The SDK also allows developers to trade, deposit and withdraw from liquidity pools, stake and unstake from farms, and harvest staking rewards. Orca also features an Orca Whirlpools Builders Program.
  • The Orca protocol was founded by Grace “Ori” Kwan and Yutaro Mori.







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