Orbit has successfully done its first buyback of 2% and added to Orbit vault. A portion of all launches are used to buyback Orbit. The funds used to buyback were split by ORBITCAT, MCAT, and SPEPE. Protocol is working seamlessly. https://t.co/Yofy5Yhy7j
Update: on all future buybacks 50% will be burned.
Community Update:
Weโve been getting asked if we use hooks. We donโt. The vault is our own system, built by our devs on top of Meteora. Same pools, different layer. Thatโs the part weโre actually trying to innovate on.
Interest in Orbit has grown faster than we expected.
Our immediate focus is the launchpad, with further releases already in development.
A public chat for holders and builders follows next.
The vault is live.
It was meant to turn on right after graduation. It didnโt. That is what happens when you are actually building something new. You expect the hurdles, you battle test it, then you ship.
It is on now. 45 SOL+ in the vault to absorb sell pressure. Current limit is 3 SOL per holder per day. That moves as the protocol evolves.
The pool is still the chart. The vault is the second market.
Next up: Launchpad.
Why Orbit?
Some traders already do this on Meteora. They set a range and work in and out of a position there instead of chasing the chart. Most people never learn that, and the coin just feels like a gamble.
Orbit is that same idea without the setup. You sell to it if you want out without hitting the pool too early and eating the impact. You buy from it if you want in same way. Small size can trade there without the slippage.
You can enter or leave an investment without having to learn the Meteora tooling, and without the whole thing living on one chart.
$ORBIT
Meteora shipped the pools. Almost nobody wants to learn them, so size still has to be worked on the chart.
Orbit routes 50% of fees to the vault as SOL, and a quarter of the bonding-curve SOL with it. The vault activates after bond (90k). The vault buys and sells to traders who are long term oriented. A second market to absorb sell pressure. A healthier investment experience.
https://t.co/Jr8Cf3eMMB
The vault gives $ORBIT a calmer market: some trades settle off the chart, each one burns coins, and it grows the more it's used. https://t.co/ofAIIsOlP6