Recently, I've been closely examining the staking mechanism of Orderly and found that changing to issuing esORDER is quite a clever design.

In simple terms, what was originally obtained from trading or market-making was $ORDER, and now it has changed to issuing esORDER. This esORDER can be:

※ Take away the stake to earn VALOR (which is the yield indicator of the USDC inventory of the protocol)

※ Or choose vest (50% after 15 days, 100% after 90 days, otherwise half will be destroyed)

This design is quite well-balanced; short-term arbitrage cannot directly dump the market, while long-term participants can gain more profits and also benefit from the reduction in supply due to buybacks and burn!

The VALOR obtained through staking is not just air; it can be exchanged for USDC and is settled every two weeks. Each time you exchange, the system will burn the corresponding VALOR, making what others have even rarer!

The best part is that this runs on actual protocol revenue, without relying on emissions or competing on who can issue more.

You can stake $ORDER, you can also stake esORDER, and you can even choose Vest and burn. In short, every choice points to getting a little more protocol share, it's not just pure freeloading!