Orcus Finance Speeds Up DeFi Platform Through Subsquid Integration
The Subsquid team is proud to share with the community news of an integration of its on-chain data processing solution into Orcus Finance, a recently-launched multichain DeFi protocol. Orcus is delivering the first fractional-algorithmic stablecoin pegged to the United States dollar on the Astar Network (a Subsquid partner).
The Orcus development team has already successfully developed a Squid API that provides data to the platform’s DeFi dashboard. Subsquid solutions will also be used in the Profit Manager, which is in charge of Orcus Protocol’s token buy-back algorithm. Plans for other implementations will be announced in due time.
The Subsquid and Orcus Finance collaboration comes as a result of the ecosystem development initiatives of Astar Network. For some time already, Subsquid Archives have been deployed on Astar, as well as on Shiden and various ecosystem test networks. Participants in the Astar Builders Program are offered, for the foreseeable future, privileged access to all Subsquid solutions, including the Squid API development framework.
Prior to carrying out these integrations, the Orcus team had had some unsatisfactory experiences with competing products. After hearing about Subsquid from Astar, they were stunned by just how developer-friendly the API framework is. In fact, after running into constant problems when developing using the Graph, Orcus was able to complete its initial Subsquid integration in less than a day. In particular, the developers liked that Subsquid allows for local testing. They also expressed excitement for the flexibility offered by the solution’s multilayer architecture and the many possibilities for innovative features that it enables.
Subsquid CEO Dmitry Zhelezov welcomed the integration as follows: “It’s always exciting to hear about new integrations of Subsquid into projects that have a real impact on Dotsama. Orcus is still a new player in the Astar ecosystem, but we are impressed by the initiative that their development team is taking. It is great to hear the feedback about just how easy it was to develop using Subsquid, and we look forward to supporting them with data going into the future.”
Orcus Finance CTO Vladyslav Chupovsky expressed enthusiasm for just how easy it was to build with Subsquid: “I found Subsquid when looking for a solution for reading and storing smart contract events. It’s easy to dig in and start developing right away. You can test and set up everything very rapidly, without worrying about unexpected mishaps in the production phase. I love it!”
DeFi users and Subsquid community members can already see the results of this integration throughout Orcus Finance’s platform. Here at Subsquid, we are looking forward to seeing how the Orcus project progresses and stand ready to provide support as their team continues to implement our solutions.
About Subsquid
Subsquid is an on-chain data processing solution that enables Web3 builders to gain access to on-chain data on their own terms. Featuring multilayer architecture and decentralised governance, this is the most developer-friendly and resource-efficient way to build, test, and deploy customised APIs for all blockchain-facing applications.
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About Orcus Finance
Orcus Finance is an entirely decentralized and autonomous protocol with a native governance token that delivers the Astar network’s very first fractional-algorithmic stablecoin. They aim to develop and deploy multiple useful financial tools and synthetic assets in the growing multichain ecosystem.
