Orbs (ORBS)USD

Orbs is a decentralized Layer-3 public blockchain that runs as a separate execution layer on top of existing Layer-1 and Layer-2 networks. It provides on-chain execution and DeFi trading logic for integrated applications. The project was founded in 2017 by Tal Kol, Daniel Peled, Netta Korin, and Uriel Peled through Orbs Ltd., an Israel-based company. The Orbs mainnet launched as a production-ready network in March 2019, and the ORBS token was issued in April 2019 as an ERC-20 token on Ethereum. The network is operated by a permissionless set of validators called Guardians, who participate in Proof-of-Stake consensus with staking conducted via smart contracts on Ethereum and Polygon. The ORBS token is used to pay protocol and application execution fees, stake to secure the network and elect Guardians, and participate in governance through PoS contracts. It functions as a utility and staking token for the L3 execution layer, covering decentralized execution services and protocol fees for DeFi applications like advanced trading and liquidity protocols. The total supply of ORBS is fixed at 10 billion tokens, allocated across sales, team and advisors, ecosystem incentives, and PoS rewards. Orbs is an execution infrastructure layer that extends the capabilities of existing blockchains for decentralized finance use cases.