textPosted by OrcaIt's been a significant few months since, and there's a lot to explore in this second edition. From the Orca Vault itself, to the Orca Climate Fund and ORCA token economics, there is something for every whale!
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As Orca continues its journey towards decentralization, the transfer of control of the Orca Treasury from the Orca operations team to the Orca DAO is inevitable and necessary. Given the importance of this event, the Orca operations team and the Orca DAO have been exploring the optimal transfer process. All community members are invited to participate in Orca governance. Funding and Working Groups/Sub-DAOs are on the agenda of the Orca Governance Council: stay tuned for more opportunities for users to contribute to the Orca DAO in new and exciting ways!
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OrcaTreasury and climate fund balances
Decomposing the wallet address itself can be done inhereFind the main wallet address for the Orca treasury, while the main wallet address for the climate fund can be found athereturn up. These two main addresses store funds converted from LP tokens in late July, as stated in Orca’s first financial report. In a late July conversion, LP tokens were converted to tokens for the Orca Treasury wallet and converted to USDC only for the Climate Fund wallet. Fees collected by the Treasury and the Climate Fund from the standard pool since late July have been deposited into a separate account, which has yet to distribute the corresponding assets between the two wallets. The account, for which the holding fee has not been allocated, can be found atherehere
Saving transaction fees in LP tokens exposes the Orca Treasury and Climate Fund to market volatility and impermanent losses. The Orca operations team will soon present a proposal to Orca token holders to vote on whether Orca treasury and climate funds should be converted to stablecoins on a regular basis, and if so, how.
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ORCA Token Economy and EmissionsEven though Orca’s centralized liquidity smart contracts (Whirlpools) have been double audited by Kudelski and Neodyme, you can never be too safe on the wild frontier of cryptocurrency. That's why Orca is listed on ImmuneFi$500,000 bug bounty, to incentivize talented engineers to carefully study any potential risks in the contract. The maximum bounty will be paid in ORCA: 1 million ORCA tokens are reserved for this purpose and can be distributed on-chainview here
. ORCA rewards continue to distribute ownership of the protocol to users and the community and encourage liquidity across several strategic token pairs such as SOL/USDC and ORCA/USDC. Of the 66.1 million emissions allocated to communities to date, ORCA emissions total approximately 19 million. From these allocations, 5.5M formed the initial airdrop, of which just under 14M went to the ORCA bounty pool and 1M was reserved for the ImmuneFi bug bounty.Every.org, the transaction is realized and can behereView (below is a small test transaction inherehere
😉). While the landscape for cryptocurrencies may be stormy right now, the values embodied by the Orca community will set the protocol apart, ensuring its long-term success well into the future.
