ABOUT
ORBS

 

Combining scalability, low fees and isolation between virtual chains with a top-grade developer experience, online IDE and smart contracts in familiar languages, Orbs provides developers the perfect mix of performance, cost, security and ease of use. 

Orbs is a public blockchain infrastructure designed for mass usage applications and close integration with EVM-based L1’s such as Ethereum and Binance SmartChain. Unlike private and permissioned blockchain solutions typically used for such applications, the Orbs  infrastructure is open and permissionless. The Orbs protocol is decentralized and executed by  a public network of permissionless validators using Proof-of-Stake (PoS) consensus. The Orbs  protocol relies on the ORBS token used for the settlement of fees related to app execution and  provides the system of incentives used to elect validators (who are referred to as “Guardians”) in a secure and decentralized manner. 

SERVERLESS CLOUD FOR APP DEVELOPERS

The Orbs platform is a decentralized serverless cloud allowing developers to build backend  services (applications) that are then deployed to be executed by the Orbs Gurdians. The main  offerings of the platform include compute under consensus (execution of “smart contracts”)  and storage under consensus. 

Applications running on public blockchain are unique in their ability to facilitate trust by  providing blockchain-backed guarantees to their users. Whereas many popular public  blockchain solutions like Ethereum are designed primarily for purely decentralized  applications (dapps), Orbs expands the offerings of public blockchains by also supporting  permissioned applications developed by existing for-profit businesses. 

The Orbs project is currently focused primarily on DeFi applications, where Orbs’ independent consensus layer can be used to enrich DeFi contracts on EVM-based L1’s such as Ethereum - where most existing liquidity in DeFi resides. For example, consider an EVM-based DeFi vault where external Guardians act as oracles over EVM data and allow EVM contracts to make external decisions that are impossible to implement in the EVM alone.

Orbs offers the winning blockchain stack, providing the  perfect mix of performance, cost, security and ease of  use, while harnessing the power of community,  decentralization and distribution. 

 

COMPLETE BLOCKCHAIN STACK

 

The Orbs project includes a full blockchain stack designed and implemented from scratch by  the core team, and is not a fork of any existing solution. The project is active on open source  with about 150 repositories publicly available on Github

The codebase provides an end-to-end developer experience with everything needed to create  and execute blockchain applications including: 

Founded in 2017, Orbs is being developed by a dedicated team of more than 30 people  out of its offices in Tel Aviv, Israel, London, UK, Singapore, Tokyo, Japan, and Seoul, South Korea.  Orbs was named Gartner's “Cool Vendor in Blockchain Technology” for 2018. 

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London, Uk

Tel Aviv, Israel

Tokyo, Japan

Singapore

Seoul, South Korea

 

TECHNOLOGICAL INNOVATION

Orbs developed a set of advanced technologies to make its vision possible: Virtual Chains, PoS over Ethereum, Cross-Chain Interoperability, Smart Contracts in Any Language, Non-Deterministic Execution and Web Oracles and Off-Chain Interoperability.  

Virtual Chains - application and businesses have the option to operate their own virtual chain,  with all decisions made by stakeholders of that specific application, while still running on top  of a shared physical infrastructure. Each virtual chain maintains its own separate chain of  blocks, state, and runs its own concurrent instance of consensus. All Orbs Guardians run all  virtual chains in parallel, making the permissionless pool of Guardians completely shared and  staked across the full network. This provides applications with the security and  decentralization of the entire network while maintaining a strong degree of independence. 

PoS over Ethereum - Orbs is designed as a hybrid blockchain, maintaining both an  independent blockchain and PoS architecture, as well as utilizing the Ethereum network as an  external objective blockchain for the PoS logic. ORBS token, staking, delegation and voting  operate over Ethereum contracts. This PoS over Ethereum architecture provides multiple  advantages, including a high level of transparency, ease of subscription payments and staking,  additional security and ensuring the integrity of elections.  

Cross-chain Interoperability - Orbs smart contracts provide seamless cross-chain access to  Ethereum state under consensus, thus allowing applications to read the Ethereum state  directly using the above mechanism. This allows applications running on Orbs to leverage the  power of Ethereum directly without leaving the platform. An example of this technology is  autonomous swap, a secure mechanism that allows developers to move part of the base-layer  assets (ex: ERC-20 tokens) to run on Orbs for their utility while keeping other parts on the  base-layer for trade.  

  

Smart Contracts In Any Language - Orbs pioneers the paradigm of smart contracts as a  library in any language, like Go and JavaScript, instead of dedicated languages like Solidity.  This flexibility allows existing teams to transition to blockchain development and existing tools  and libraries to be reused. Smart contracts are deployed on-chain as source code, making  them easier to read and thus safer, and compiled locally on-demand by Guardians.  Implementation challenges include efficient sandboxing and dealing with non deterministic  outputs that cannot undergo consensus.  

 

Non-Deterministic Execution - Since execution engines of standard languages are not  deterministic in nature (eg. heap addresses), dealing with non-determinism is a core  requirement of the platform. Starting from fail-safe mechanisms in the consensus algorithm  itself for failing transactions where consensus is impossible, to APIs defining acceptable  thresholds for consensus when the results for each Guardian differ (while storing each  Guardian’s result for future audit), the Orbs Network employs a variety of methods for solving  these issues. 

Web Oracles and Off-Chain Interoperability - Providing non-determinism as a feature opens  up new use cases for smart contracts such as accessing web oracles and off-chain data that  isn’t straightforward to access under consensus. The benefits are clear, as many real-world  applications require the ability to interoperate with existing systems or databases that are not  on-chain. Native support for direct query of external data by Guardian nodes makes reliance on  dedicated oracle nodes, that often become the weak links in the system, obsolete. 

Orbs Ltd. has applied for patents for certain of its technological innovations, including: its  system and method for decentralized management of private cryptographic keys,  decentralized key generation over blockchain and method for blockchain accesselartion by  stateless valdiation.  

 

PROOF-OF-STAKE ECOSYSTEM

The Orbs PoS Universe is the backbone of the Orbs network and the Universe that is being  created. Orbs’ current PoS model - “Orbs Universe V2.5: The Age of Guardians”, empowers the  Orbs Universe Guardians to take an active role in building and maintaining a secure, scalable  network, that will be the first choice for blockchain adoption. In V2.5, the POS ecosystem is  centered around two core roles – Guardians and Delegators. Their roles are as follows:  

Below are some of the main key features of the updated V2.5 Orbs PoS Universe: 

Rewards, Fees &
Bootstrap Fund 

Guardian Validator
Nodes Streamlining 

Minimum Self
Delegation 

Election
Committees

Revamped Delegation

Mechanism 

In response to the recent surges in the value of ETH, V2.5 includes updates to address the rise in gas  prices. Inspired by state of the art contract design patterns that are gaining popularity in yield  farming contracts, the team designed a new architecture for reward distribution. Among other  things, V2.5 optimizes gas costs by ensuring that reward distribution will be done on an ongoing  basis by the protocol directly to both Guardians and Delegators, rather than in multiple  transactions.  

The proof-of-stake system was also updated in 2020 to provide for a locking period of 14 days for  all staked tokens, which improves the network's security and performance. 

The PoS ecosystem hit a major milestone in 2020, reaching over 1 Billion Orbs  Tokens locked in the staking contract.  

For additional information about Orbs’ PoS ecosystem, please see the following links: 

Basic information about V1 of Orbs PoS

Participation
Instructions

Full V1
Documentation

Staking Wallet

Tutorial

Explanation on Reward Calculations:  

Explanations of locking mechanism

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After completing the primary development work on V2 of the Orbs mainnet in August 2020, Orbs announced a shift in focus to DeFi for the near future, since DeFi has become one of the most successful use-cases for decentralized infrastructure. We see a lot of potential for Orbs to interact with the DeFi space, as it is an ERC20 token that can be integrated easily with other Ethereum-based DeFi projects, while providing variety to the DeFi space as one of the few proof-of-stake blockchain tokens running on Ethereum. With our recent launch of a bridge to Binance SmartChain via multichain.xyz, the potential for integration with the BSC wing of the DeFi world is even greater. 

As a result of the above, currently the Orbs project is focused on ways to leverage the unique features of Orbs and its potential to expand on the limitations of the EVM, as well as its unique interconnection with the Ethereum ecosystem, to develop and create value for DeFi. The primary goal is furthering the integration between Orbs to EVM-compatible chains such as Ethereum and BSC - as these are the chains that hold most liquidity in the market today.

For more on the thought process behind this shift, see Orbs technical Co-founder Tal Kol’s blog posts -

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ORBS GRANT PROGRAM

In August 2020, the Orbs team announced the Orbs Ecosystem Grant Program (OEGP), which  is intended to involve even more developers and teams in the development of the Orbs  ecosystem.

Any team or individual can submit a proposal to receive a grant for DeFi projects  that may integrate with Orbs ecosystem. Such projects include among others: Liquidity pools,  collateral-backed loans, oracles, and more. Once submitted, the Orbs team will evaluate the  proposal and approved applications will have the means to carry out their project in  collaboration with the Orbs team.  

The first grant under the OEGP was announced in October 2020, which will be in the field of  liquidity provisioning and liquidity pools. 

One grant recipient, Paradigm, has launched an Orbs Defi Portal explaining the current  available ways to interact between Orbs and the world of DeFi: https://blog.orbsdefi.com/. 

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In January 2021, the Orbs team announced that it was teaming up with Binance, the global  blockchain company behind the world’s largest digital asset exchange, to promote innovation  in the decentralized finance (DeFi) space by serving as the first core sponsors of the DeFi.org  accelerator, which bootstraps new projects and DeFi protocols. 

The DeFi.org Accelerator is dedicated to supporting research, development of open-source  software, and community engagement. The accelerator looks for projects that are built on the  principles of fair distribution, community ownership, innovation, responsible approach to risk,  sustainable economics and composability with the broader ecosystem. 

Participants get a variety of benefits, including mentorship, funding opportunities, and market  exposure. In addition, DeFi.org Accelerator participants will receive special consideration if they  apply to participate in Binance’s seed fund for Bridging DeFi and CeFi or receive a grant under  the Orbs Grant Program.  

In the first months since the accelerator started its work, it received many applications. Many  of the projects presented a strong and motivated team, as well as some great ideas and  innovations in the DeFi space. The DeFi.org Accelerator has already chosen its first batch of participants, with three companies (Benchmark Protocol, Peanut and Tozex) being chosen to participate.

 
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Orbs Liquidity Nexus

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Utilizing our expertise in bridging the gaps between the centralized world and the new decentralized one, Orbs recently introduced the concept of the Orbs Liquidity Nexus. The Orbs Liquidity Nexus  creates a pathway for CeFi-sourced liquidity to enter DeFi by matching their capital denominated in stablecoins to that of crypto natives denominated in more volatile cryptocurrencies, and combining those to engage in yield farming strategies that neither would be able to access on their own.  

This project, and other similar ideas that could be developed on Orbs, have the potential to both solve many of the obstacles currently facing the broader world of DeFi as it expands, while also bringing significant value and usage to the Orbs Network itself.

For more detail on the Orbs Liquidity Nexus and the vision of single-sided farming, see the following blog posts:

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Orbs on Binance Smart Chain

The ORBS token is now available on Binance Smart Chain (BSC) and can be swapped from the Ethereum mainnet to the BSC mainnet and back. This integration is a result of work done by multichain.xyz utilizing the cross-chain bridge infrastructure they have developed. The multichain.xyz platform is based on Anyswap SMPC Network and is jointly developed by the Anyswap team and yearn.finance (YFI) founder Andre Cronje.

Tools

Transperancy

Orbs recently added several tools to enable Orbs Universe participants to track and analyze  token and PoS activity

Orbs PoS Universe
Analytic

Orbs information is now easily accessible on the Ethereum Naming Service

VC PORTAL

The Gateway to launching an application on top of the Orbs network 

500 Terry Francois Street, 

San Francisco, 

CA 94158

A development kit for setting an AWS instance with gamma server and prism may also be  downloaded from AWS marketplace: 

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Tetra has now also been made available through a variety of other platforms, enabling the community to stake with even greater ease, including:

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All code used in the Orbs Network is open source and is 

located at https://github.com/orbs-network.  

Community Console

 

Since the beginning of 2021, there has been an ongoing major expansion of the project’s ecosystem. The current ecosystem includes these major components:

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Ecosystem Expansion

 

Founders

Orbs currently has approximately 30 team members worldwide. 

 
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Tal Kol

co-founder and director 

Tal co-founded Appixia, a mobile app startup acquired by Wix.com, and was Wix.com  Head of Mobile Engineering. He is an expert in blockchain consumer applications, and  former Head of Engineering in Kin by Kik Interactive. Tal is an open source enthusiast,  contributor to the React ecosystem and conference speaker. He holds BSc summa  cum laude in Computer Engineering from the Technion and is a veteran of an elite  section of the IDF 8200 unit. 

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Daniel Peled

co-founder, director and president 

Daniel was the co-founder and CEO at PayKey, an Israeli Fintech startup with investors  such as MasterCard and Santander InnoVentures. He is also a veteran member of the  Israeli Bitcoin community and the first person in Israel to ICO a blockchain company.  Daniel holds a LL.M and BS in Economics.  

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Netta Korin

co-founder and director  

Netta served as Sr. Advisor to Gen. Mordechai on special projects in the Ministry of  Defense, and as Sr. Advisor to Deputy Minister for Diplomacy Dr. Michael Oren in the  Prime Minister’s Office. Netta currently chairs IMPACT! one of the largest scholarship  programs in Israel, which has helped produce over 7,000 graduates and 4,000  students in Israel. For over 15 years Netta has served on multiple boards in Israel and  America, holding high level positions in Executive Committees.

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Uriel Peled

co-founder and advisor 

Uriel was a key advisor for several notable crypto projects and was named one of  Israel’s top 25 blockchain influencers. Prior to Orbs, Uriel co-founded Visualead, an  AR/VR startup that was acquired by Alibaba. He is a former team leader at Mellanox, a  leading Israeli high-tech company. Uriel holds a BSc summa cum laude in Electrical  Engineering from the Technion. Uriel stepped down from his active full-time role at  Orbs in February 2020 to build a digital asset investment management firm, Moment  Capital, and is currently serving as an advisor to the Orbs project.

Orbs Leadership

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Nadav Shemesh

Chief Executive Officer  

Nadav was previously Professional Advisor to the Minister of Finance in Israel,  responsible for reforms, policy and execution in the Finance & High Tech sector. Prior  to that he was Deputy CEO of Babylon Software. Before his business career, Nadav was  an F16 Pilot in the IAF. He has a degree in Electrical Engineering and Computer  Sciences from Tel Aviv University. His philanthropic activities have included teaching  physics for graduation exams in a low-income high school. 

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Ran Hammer

General Counsel and Corporate Development 

Ran currently leads Corporate Development, Marketing and Communities for Orbs as well as being in charge of Legal and Compliance.

 

Prior to joining Orbs and after specializing as a corporate lawyer in the fields of high-tech, venture capital and cross border M&A, Ran founded the blockchain, cryptocurrency and digital coin practice in GKH Law Offices and was established as one of Israel’s leading blockchain law practitioners. Ran holds an LL.B. summa cum laude from the University of Haifa.

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Nechama Ben Meir

Chief Financial Office 

Nechama has over 20 years of experience in senior financial and operational positions  in the Israeli high-tech industry. She was Head of Accounting and Taxes at CheckPoint,  responsible for the company’s global financial operations, and before that, CFO & COO  at Crescendo Networks Ltd. and Director of Finance at Radware. In her spare time,  Nechama is involved in activities improving the position of women in society. 

Token Name and Symbol

Orbs Token; ORBS
Token Supply: 10,000,000,000

Token Type: ERC-20

Token Contract Address: 0xff56cc6b1e6ded347aa0b7676c85ab0b3d08b0fa  

Primary use of token:  

As the native token for the network, the Orbs platform relies on the ORBS Token to fuel network  operation and provide the means to pay the fees involved with operation of the consensus  layer, execution of smart contracts and consensus-based storage, which are the three primary  services provided by the platform. ORBS Tokens can also be used to participate in the network’s  proof-of-stake ecosystem.  

20%

Team  

(vesting over 36 months  from TDE)

5%

Advisors  

(vesting over 12 months  from TDE)

20%

Private Token Sale
(no Vesting/lockup)

ORBS Token

Name: Orbs Token; Symbol: ORBS
Token Supply: 10,000,000,000

Token Type: ERC-20

Token Contract Address: 0xff56cc6b1e6ded347aa0b7676c85ab0b3d08b0fa  

Primary use of token:  

As the native token for the network, the Orbs platform relies on the ORBS Token to fuel network  operation and provide the means to pay the fees involved with operation of the consensus  layer, execution of smart contracts and consensus-based storage, which are the three primary  services provided by the platform. ORBS Tokens can also be used to participate in the network’s  proof-of-stake ecosystem.  

20%

Team  

(vesting over 36 months  from TDE)

5%

Advisors  

(vesting over 12 months  from TDE)

20%

Private Token Sale
(no Vesting/lockup)

For additional details (including wallet addresses for each of the pools), see here: 
https://www.orbs.com/orbs-token-distribution/.  

As of May 10, 2021, 2,551,987,055 Orbs Tokens have been released from the initial pools.

Exchange Listings:
The ORBS Tokens are currently listed on FTX, KuCoin, Gate.io, Bittrex International, Upbit,  Bithumb, OKex, Coinone, IndoDax, Coinsbit, P2PB2B, BHEX, bibox and Huobi Korea. 

Social Channels

Twitter

 English - @orbs_network 

Korean -

@orbs_korea
 

Japanese -

@JapanOrbs

Youtube

English - link

Japanese - Link

Korean - Link

Line & Discourse

Line Japanese - line://ti/p/@vrf9558a  

Kakaotalk Korean -
link

Blog

English
www.orbs.com/blog

Medium Korean - orbskorea.medium.com