The XRP Ledger (XRPL) has seen an influx of new applications launched in the DeFi sector. Orchestra Finance, a decentralized AMM exchange, is the latest to launch on testnet. According to the decentralized exchange (DEX) update, users can already try out Orchestra Finance on the XRPL testnet. Users can expect no front-running, but also low fees and instant transactions, all made possible by the XRPL.
Like most blockchain-based decentralized exchanges, Orchestra Finance plans to implement an automated market maker (AMM) model. Using the platform, users can exchange XRPL-based assets, provide liquidity and receive a share of trading commissions. The project also offers pool management features and regular auctions, allowing users to get discounts on trading fees.
At the time of writing, Orchestra Finance supports the recently released Crossmark wallet, with plans to add support for more popular options such as Xumm, Ledger, D’cent and WalletConnect.
Image: Binance Academy