Ecosystem Participants

Orbit aims to mint asset-backed, on-chain stablecoins for any fiat currency—USD, EUR, MXN, INR, NGN, and beyond. That global reach unlocks:

• Borderless commerce: merchants settle in their home currency while customers pay in theirs.

• Local-currency DeFi: users in emerging markets earn on-chain yield without dollar exposure.

• FX hedging & remittances: traders and families move value instantly between currencies without banking friction.

Keeping this multi-currency engine running safely requires several incentive-aligned actors:

Role	What They Do	Why It Matters for Multi-Currency Stablecoins
DAO (Decentralized Autonomous Organization)	Token-holders propose and vote on parameters—collateral ratios, interest curves, new fiat listings.	Governance lets local communities champion the next currency they need, so Orbit grows where demand is strongest.
Treasury (Smart Contract)	Mints fresh Orbit coins (oUSD, oEUR, oMXN, …) and supplies them to Blend lending pools. Coins start unbacked and become fully collateral-backed once borrowers lock assets.	A single, auditable minting contract keeps issuance rules identical across all currencies, preventing fragmentation.
Borrowers	Lock crypto (ETH, BTC, XLM, …) to draw the stablecoin they actually need—e.g., oKES to pay Kenyan contractors or oJPY to hedge exposure.	Borrower demand transforms “unbacked” supply into fully collateral-backed units and seeds liquidity in many local markets.
PegKeeper (Smart Contract)	Monitors each stablecoin’s oracle price and deploys incentives (mint/burn fees, open-market ops) to reel it back to target.	Different currencies face different volatility patterns; per-currency tuning keeps every Orbit coin hugging its peg.
Liquidators	Buy under-collateralized positions at a discount, repaying the debt and seizing collateral (using PegKeeper liquidity if needed).	Fast liquidations are crucial when FX rates swing and collateral values diverge across currency pools.
Arbitrage Traders	Exploit price gaps between Orbit DEX pairs, CeFi exchanges, and off-chain FX markets.	Profit-seeking keeps oEUR ≈ €1, oINR ≈ ₹1, etc., across every venue.
Backstop Providers	Deposit into each Blend pool’s Backstop Module; if liquidations lag, the module auctions these deposits to cover bad debt (providers earn fees for taking the risk).	Backstops are siloed by currency pool, so issues in one market (say oARS) can’t spill into another (oUSD).

Bottom line: A transparent minting Treasury, per-currency risk modules, and market incentives let Orbit deliver the first truly global suite of stablecoins—giving anyone, anywhere, digital cash in the unit of account they actually live in.