Orca

ORCA Rank #273

$1.80▲ 3.39%24h

Low $1.74High $1.81

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Market cap$109.29MRank #273

Fully diluted value$134.89M

Volume (24h)$10.31MVol / Mcap 9.43%

Circulating supply60.80M60.8% of max

Total supply75.00M

Max supply100.00M

All-time high$20.33Oct 2, 2021

All-time low$0.3511Jun 19, 2022

What is Orca?

Exchange design

Orca's Whirlpools use concentrated liquidity rather than placing every deposit across the entire price curve. Liquidity providers select the price range in which their capital trades. Positions earn swap fees while their liquidity is active. A position can become entirely one asset when the market moves outside its range. The open-source contracts and SDKs let other applications integrate swaps and liquidity management.

ORCA and xORCA

ORCA has a maximum supply of 100 million tokens. Holders can deposit ORCA into the staking program and receive xORCA. This receipt is a transferable Solana token representing a claim on the staking vault. Fee-funded market purchases add ORCA to the vault and increase the ORCA represented by each xORCA. Unstaking creates a pending withdrawal instead of delivering the underlying tokens immediately. The program includes a cooldown before withdrawal.

Protocol decisions

ORCA participates in Orca's governance arrangements. Those arrangements determine treasury spending and the allocation of protocol revenue. Liquidity-provider fees and revenue directed to tokenholder buybacks are separate accounting flows. ORCA is not required as the input asset for every swap. The staking vault rewards ecosystem participation rather than validating Solana blocks.