Investing with ORA

There are 4 main ways to invest with ORA.

  • Genesis Pools - stake $AURORA for early release ORA rewards

  • Earnings Farms - provide liquidity via $ORA/$AURORA and $OSHARE/$AURORA pairs to earn $ORA and $OSHARE rewards

  • Boardroom - stake $OSHARE for $ORA rewards

  • Bonds - purchased $OBOND that can be redeemed for a $ORA at a discounted rate in the future

Genesis Pools

Genesis pools are special Earnings farms that reward early adopters with $ORA in exchange for staking common network tokens or pairs such as %AURORA or $ORA/$AURORA. These genesis pools are only available for a limited time shortly after the launch of ORA. See below for instructions on how to invest in any earnings farm.

Earnings Farms

Earnings farms are the simplest way to earn ORA rewards in the form of $ORA or $OSHARE. To invest in an Earnings farm you first need the underlying staking token or liquidity pair. You can acquire the required tokens by purchasing them from a Distributed Exchange (DEX). Creating a liquidity pair is a bit more complicated but can also be done on a DEX. Explaining the details of how to use these common features of a DEX are beyond the scope of this documentation but you should know how to do this before proceeding with investing in ORA.

Make sure you are familiar with how to use a Distributed Exchange (DEX) on the AURORA network before proceeding with investing in ORA. More information can be found on the TriSolaris documentation and you should be comfortable with the following concepts before continuing:

  • Managing a Aurora MetaMask wallet

  • Using a Faucet or Bridge to transfer funds to your wallet

  • Swapping one token for another on a DEX

  • Adding liquidity to a pool of two tokens

Staking Tokens for Earnings Rewards

Once you are familiar with these core DeFi concepts you are ready to invest with ORA. To start earning rewards with ORA farms follow these steps:

  • Approve the use of the token or pair you wish to deposit for use on ORA by clicking on the "APPROVE..." button for the appropriate earnings farm (STEP 1)

  • Confirm the transaction in MetaMask (STEP 2)

  • Deposit the approved token or pair in to the appropriate earnings farm to begin receiving staking rewards but clicking on the "STAKE..." button (STEP 3)

  • Enter the amount you want to deposit for staking, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (STEP 4)

  • Approve the transaction in MetaMask (STEP 5)

STEP 1 (Approve use of token for Earnings farm):

STEP 2 (Confirm transaction in MetaMask):

STEP 3 (Stake tokens):

STEP 4 (Confirm amount to deposit):

STEP 5 (Confirm transaction in MetaMask):

Claiming Earnings Rewards

Once tokens or liquidity pairs are deposited, staking rewards will be begin accumulating immediately and approximated periodically in the app. Exact reward amounts will be precisely calculated at the moment you withdraw rewards. To claim rewards without withdrawing stake tokens follow these steps:

  • Click the Claim Rewards button (STEP 1)

  • Confirm the transaction in MetaMask (STEP 2)

STEP 1 (Claim rewards):

STEP 2 (Confirm transaction in MetaMask):

To withdraw your tokens and claim reward simultaneously follow these steps:

  • Click on the "Claim Reward and Withdraw Tokens" button (STEP 1)

  • Enter the amount you want to withdraw from staking, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (STEP 2)

  • Confirm the transaction in MetaMask (STEP 3)

STEP 1 (Claim and Withdraw stake):

STEP 2 (Confirm amount to withdraw):

Step 3 (Confirm transaction in MetaMask):

NOTE: Various Earnings farms pay reward in different tokens, either $ORA or $OSHARE.

  • $ORA can be used as a liquid asset on Aurora or reinvested in Earnings Farms on ORA

  • $OSHARE can be reinvested in Earnings Farms or the Boardroom (see below) for additional rewards or traded on a DEX (TriSolaris)

The Boardroom

In addition to the Earnings Farms, investing in the the ORA Boardroom is the other way to earn $ORA rewards.

Staking $OSHAREs will give you $ORA rewards when the price of $ORA is above the peg (1 $ORA: 1 $AURORA), but not when it is under the peg.

In order to make the issuing of rewards more stable, we calculate a Time Weighted Average Price (TWAP) for $ORA:$AURORA. This TWAP is calculated over the span of several epochs. See the contracts code for details of how TWAP is calculated.

The TWAP at the Boardroom has to be at 1.01 or higher at the end of each epoch to print rewards.

NOTE: In order to incentivize $OSHARE holders to help support the peg, the Boardroom only issues rewards when the price of $ORA vs $AURORA is above the peg. We use the concept of TWAP and 1.01 as the trigger price to ensure a balanced and smooth reward flow.

Staking OSHARE in the Boardroom

To deposit $OSHARE to earn $ORA rewards in the Boardroom, follow these steps.

  • Acquire $OSHARE by:

    • Purchasing them from a DEX (TriSolaris) or

    • By investing in an Earning Farm that rewards you in $OSHARE

  • Once you have $OSHARE, approve the use of $OSHARE in the Boardroom by clicking on the "APPROVE OSHARE" button (STEP 1)

  • Confirm the transaction in MetaMask (STEP 2)

  • Deposit your $OSHARE in the Boardroom to stake them for $ORA rewards by clicking on the "STAKE" button (STEP 3)

  • Enter the amount you want to deposit for staking, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (STEP 4)

  • Confirm the transaction in MetaMask (STEP 5)

STEP 1 (Approve OSHARE for staking):

STEP 2 (Confirm transaction in MetaMask):

STEP 3 (Stake OSHARE):

STEP 4 (Confirm amount to deposit):

STEP 5 (Confirm transaction in MetaMask):

Claiming Boardroom Rewards

Once $OSHARE is deposited, staking rewards will be begin accumulating immediately and approximated periodically in the app. Exact reward amounts will be precisely calculated at the moment you withdraw rewards.

NOTE: The Boardroom only pays rewards when ORA is above the peg price (1.01). To read more about how the market dynamics of protocol help support the peg see the Maintaining the Peg page.

NOTE: In the ORA protocol each epoch is defined as being 6 hours long.

Claim Rewards Without Withdrawing Stake

To claim rewards without withdrawing stake tokens follow these steps:

  • Click the "Claim Earned ORA" button (Step 1)

  • Confirm the transaction in MetaMask (Step 2)

STEP 1 (Claim rewards):

STEP 2 (Confirm transaction in MetaMask):

Claim Rewards and Withdrawing Stake Concurrently

To claim rewards without withdrawing stake tokens follow these steps:

  • Click the "CLAIM AND WITHDRAW STAKED OSHARE" or the "CLAIM EARNED ORA AND EXIT button. Both button effectively do the same thing, claiming rewards while withdrawing your staked tokens (Step 1)

  • Enter the amount you want to withdraw from staking, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (Step 2)

  • Confirm the transaction in MetaMask (Step 3)

STEP 1 (Claim and withdraw stake):

STEP 3 (Confirm transaction in MetaMask):

Buy and Redeem Bonds

In addition to Earnings Farms and the Boardroom, you can profit while helping maintain the peg by buying $OBOND at a discount when $ORA is below the desired peg (1 $ORA : 1 $AURORA) and redeeming those $OBOND for a premium paid in $ORA once it moves back above the peg.

In order to make the availability of Bonds for purchase and redemption more stable, we calculate a Time Weighted Average Price (TWAP) for $ORA:$AURORA. This TWAP is calculated over the span of several epochs. See the contract code for details of how TWAP is calculated.

TWAP Below 1.00

If the Time Weighted Average Price (TWAP) for $ORA falls below 1.00 the ORA protocol has an automatic support mechanism. The protocol will make a limited number of $OBOND available for purchase in exchange for $ORA at its current lower price on a 1 for 1 basis. For example, if the TWAP of $ORA:$AURORA falls to 0.9000 you can exchange 1 $ORA for 1 $OBOND. The $ORA used to purchase $OBOND is burned putting upward pressure on the price of $ORA helping it move back towards the desired peg.

TWAP Between 1.00 and 1.01

When the TWAP of $ORA is between 1.00 and 1.01 you can neither buy nor redeem $OBOND. This is a balanced state we call "at peg" when $ORA's TWAP is between 1.00 and 1.01, and this means there is neither contraction nor inflation.

An epoch has to end below peg for $TBOND tokens to be issued.

TWAP Above 1.01

When the Time Weighted Average Price (TWAP) of $ORA is above 1.00 we do not provide any $OBOND for purchase. Once the price is above the balanced range of (1.00 to 1.01) the protocol instead allows the redemption of $OBOND for $ORA. This simply means you can trade in your previously purchased $OBOND for $ORA which is now worth more than when you used it to purchase the $OBOND. This rewards you for investing in the protocol via $OBOND. To further reward you we give you protocol will return you $ORA at a reward ration greater than the 1:1 ratio you paid for the $OBOND. This reward ratio the current prices of $ORA squared. For example, if the price of $ORA is 1.20 at the time of redemption, you will receive: 1.20^2 = 1.44 $ORA for every 1 $OBOND you redeem. This is a ratio of:

1 $OBOND : 1.44 $ORA

While generously rewarding $OBOND investors, this inflationary attribute of the protocol puts downward pressure on the price of $ORA and again helps it move towards the desired peg.

Buying Bonds

To buy $OBOND using $ORA at the below peg rate, follow the following steps.

  • Approve the purchase of $OBOND in exchange for $ORA by clicking on the "APPROVE ORA" button (STEP 1)

  • Confirm the transaction in MetaMask (STEP 2)

  • Purchase $OBOND by clicking on the "PURCHASE" button (STEP 3)

  • Enter the amount you want to purchase, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (STEP 4)

  • Confirm the transaction in MetaMask (STEP 5)

NOTE: You can only purchase a maximum of the bonds available for purchase. Allocation is on a first come, first serve basis. The protocol releases more $OBOND based on various factors. See the contracts code for details.

STEP 1 (Approve purchase of $OBOND using $ORA):

STEP 2 (Confirm transaction in MetaMask):

STEP 3: (Purchase $OBOND):

STEP 4: (Confirm amount to purchase):

STEP 5 (Confirm transaction in MetaMask):

Redeeming Bonds

To exchange your $OBOND for $ORA at the bonus ratio, follow the steps below. Note that you can only do this if the price of $ORA is above 1.01:

  • Approve the redemption of $OBOND in exchange for $ORA by clicking on the "APPROVE OBOND" button (STEP 1)

  • Confirm the transaction in MetaMask (STEP 2)

  • Redeem $OBOND by clicking on the "REDEEM" button (STEP 3)

  • Enter the amount you want to redeem, use the "Max" button to use all available tokens, click on "CONFIRM" when finished (STEP 4)

  • Confirm the transaction in MetaMask (STEP 5)

STEP 1 (Approve redemption of $OBOND for $ORA):

STEP 2 (Confirm transaction in MetaMask):

STEP 3: (Redeem $OBOND):

STEP 4: (Confirm amount to redeem):

STEP 5 (Confirm transaction in MetaMask):

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