Orca

Orca is a decentralized exchange built on the Solana blockchain, designed to let users swap one digital token for another, supply liquidity to trading pools, and earn a share of trading fees — all through an interface intended to be straightforward for newcomers to decentralized finance. It positions itself as an accessible entry point into DeFi on Solana, aiming to lower the technical barrier that has historically made such platforms difficult for general audiences. Projects building their own applications can also integrate Orca's trading and data functions directly into their own products.

Orca operates as an automated market maker, meaning prices are set by a mathematical formula applied to the ratio of assets held in on-chain liquidity pools on Solana, rather than by a traditional order book matching buyers and sellers. Liquidity providers deposit pairs of tokens into these pools and, in return, receive a share of the fees generated when other users trade against those pools. The ORCA token exists within this ecosystem, with a portion of protocol revenue directed to token holders, as reflected in the stored holder revenue figures.

Fees are paid by traders each time they execute a swap, and the data shows the protocol collected 243,325 USD in fees over the most recent 24-hour period, 3,930,488 USD over the trailing 30 days, and 69,332,624 USD over the trailing 12 months. Of the 30-day fees, the protocol retained 502,695 USD as protocol revenue, with the remainder — 3,427,793 USD — going to liquidity providers as supply-side revenue; a further 168,821 USD of the 30-day total was directed to token holders. The take rate, representing the share of total fees the protocol keeps for itself and token holders rather than passing to liquidity providers, stood at 12.79% over the trailing 30 days, and both fee and revenue totals grew substantially over that period, rising 167.39% and 189.67% respectively.