HomeAltcoinSolana-based top decentralized exchange (SOL) to ban US clients from trading amid...

Solana-based top decentralized exchange (SOL) to ban US clients from trading amid regulatory uncertainty


The major decentralized exchange (DEX) based on Solana (SOL) plans to restrict Americans from trading on its platform at the end of the month.

Orca (ORCA) announced the new restriction on its website this week, however it did not provide a reason for the policy change.

“Orca will add the United States to the regions and countries that have restrictions on trading on orca.so starting March 31, 2023. This will not affect the ability of US users to directly interact with the Orca smart contract or SDK , nor affect your ability to provide liquidity through orca.so.”

Orca is currently Solana’s top DEX in terms of total value locked (TVL), at $46.62 million, according to decentralized finance (DeFi) tracker Defi Llama. The next highest DEX is Raydium (RAY), with $37.45 million in TVL.

The TVL of a blockchain represents the total capital contained in its smart contracts. TVL is calculated by multiplying the amount of collateral locked up in the network by the current value of the assets.

Orca’s native governance token, ORCA, is worth $0.776 at the time of writing. The crypto asset ranked 783rd by market capitalization is up almost 0.4% in the last 24 hours and more than 4.5% in the last seven days.

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