Orca

Orca is a decentralized exchange built on the Solana blockchain, designed to let users swap digital assets and provide liquidity without relying on a traditional intermediary. It operates as an automated market maker, meaning prices are set algorithmically rather than through an order book. Orca presents itself as a user-friendly entry point into decentralized finance, targeting people who may find other exchanges technically intimidating.

Orca runs on Solana and uses an automated market maker model in which liquidity providers deposit pairs of tokens into pools, and the protocol uses those pools to execute trades algorithmically. The ORCA token exists within this ecosystem and is associated with governance and fee-sharing arrangements, with a portion of fees flowing to token holders. Of the 100 million maximum supply, roughly 60.8 million tokens are currently in circulation, leaving approximately 23.4 percent of the total supply yet to be distributed.

Trading activity generates fees paid by users who swap assets on the platform. In the trailing 30 days, the protocol collected 9,382,223 dollars in total fees, of which 8,162,532 dollars went to liquidity providers as supply-side revenue and 450,347 dollars went to token holders, with the protocol retaining the remainder as revenue of 1,219,691 dollars over that same period. The take rate — the share of fees the protocol keeps rather than passing to liquidity providers — stood at approximately 13 percent over the trailing 30 days. Over the trailing 12 months, total fees reached 67,094,946 dollars and protocol revenue reached 8,237,664 dollars.