The primary aim of Orbit Protocol is to stabilize the digital currency ecosystem by offering stablecoins in exchange for cryptocurrency collateral. These stablecoins are useful mainly for the following two purposes:
Firstly, it enables people to perform international transactions very cheaply with a reliable, stable currency.
The second one is more ambitious: it could be used in developing countries with very volatile currencies to protect against changes in the value of the currency. The way this works is that someone could put up crypto as collateral to borrow a currency. When this currency drops in value, it can still be exchanged for the same amount of crypto.
Past audits with Orbit
| Protocol | Resource | Start Date | Language(s) | Tag(s) |
|---|---|---|---|---|
| Zenith Protocols: OrbitCDP | Report | Dec 2024 | Rust | Smart Contracts, Soroban, Lending |