Orbiter Finance (ORBITER)

Use Case of Orbiter Finance

Orbiter Finance allows users to bridge and swap crypto assets quickly, affordably, and securely across multiple blockchain ecosystems. These include Arbitrum, Base, Optimism, Solana, BNB Chain, Polygon, Ethereum, and more. This makes moving and exchanging tokens between different blockchains easier and faster.

Pros

• Orbiter Finance enables fast, low-cost, and near-instant transfers of Ethereum-native assets across over 19 Layer 2 networks and rollups, including Ethereum, Arbitrum, Polygon, Optimism, and StarkNet.
• It uses advanced zero-knowledge (ZK) technology and a unique Maker-Sender model, which allows transactions to be sent directly between wallet addresses, bypassing traditional smart contract delays.
• The platform supports multi-chain interoperability, connecting Ethereum, Bitcoin, Solana, and other ecosystems, facilitating seamless asset transfers.
• Orbiter Finance offers robust security measures, including smart contract arbitration with ZK-proof and a decentralized liquidity pool, reducing risks associated with traditional bridges.
• It has a simple and user-friendly interface, with quick transaction processing and competitive fees compared to many alternatives.
• The project is decentralized, with governance and staking enabled through its native token, OBT.
• The team is responsive and actively adds new network integrations.

Cons

• Orbiter Finance currently supports a limited variety of tokens, mainly core assets like ETH, USDC, USDT, and a few others, which may not satisfy users needing a broader token selection.
• Some users have reported transaction failures, delays, and occasional missing funds during cross-chain transfers, causing frustration.
• Network connectivity issues have contributed to some failed or delayed transactions.
• The platform experienced a postponed Token Generation Event (TGE), which disappointed some users and raised concerns about readiness.
• Fees, while generally competitive, can sometimes be higher than certain alternative bridges.
• There have been isolated reports of user dissatisfaction and concerns about reliability, including community management issues.

For more details, visit https://www.orbiter.finance.

Founders

Orbiter Finance was founded in 2021 by a team including Victor Zhang, Winston Zhang, and Mark Wai.

Company Background

The company is based in Singapore and focuses on decentralized cross-rollup bridges for transferring Ethereum-native assets.

For more details, visit Orbiter Finance.

Major Investors

Orbiter Finance has raised funds from several well-known investors including OKX Ventures, Tiger Global Management, StarkWare, Amber Group, and A&T Capital. These investors have participated in different funding rounds, with OKX Ventures leading the latest round in January 2024.

Other Notable Investors

Additional investors include Hash Global, Bas1s Ventures, Matrixport Ventures, Mirana Ventures, Lemniscap, Mask Network, Dialectic, Loopring, imToken Ventures, Zonff Partners, y2z Ventures, CatcherVC, GGV Capital, Formless Capital, DWeb3 Capital, Cobo Ventures, Redpoint Ventures, and Redpoint Ventures China.

Funding Rounds

Orbiter Finance has raised over $2.31 million through multiple funding rounds, including a Seed round in March 2022 and a Series A round in January 2024. The company has attracted a total of 24 investors across these rounds.

For more details, visit Orbiter Finance.

Halal Status of Orbiter Finance

Orbiter Finance is a decentralized cross-rollup bridge that facilitates fast and low-cost transfers of Ethereum native assets across multiple blockchain networks. It operates as a technology infrastructure without involving interest (riba) or gambling elements. Based on the available information, the answer is:

• Yes, Orbiter Finance is halal because it functions as a decentralized technology platform for asset transfers and does not inherently involve prohibited financial activities.