← Orcareviewed 2026-10-06 · 24 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Orca against the sources the page cites. Only the most recent review is shown.
Read this first
These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed 1unverifiable 1stale 2link rot 4partially supported 1confirmed 157 corrections pending · 0 applied
disputed
1 claimThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #4[disputed][awaiting moderator]in section: Scale & Market Position
“Orca has processed over $36 billion in cumulative trading volume since launch and at various points in 2022–2023 held the position of Solana's largest DEX by total value locked.”
reviewerOrca has processed over $36 billion in cumulative trading volume since launch.The cited source directly contradicts the page's figure by more than 10x. $36 billion appears to be a stale figure from an earlier period in Orca's history, not a current cumulative total.Proposed correction (not yet applied)Orca has processed over $500 billion in cumulative trading volume since launch and at various points in 2022–2023 held the position of Solana's largest DEX by total value locked.
unverifiable
1 claimNo source the reviewer could reach confirms or contradicts the claim.
- #24[unverifiable][awaiting moderator]in section: Team Track Record & Transparency
“The protocol disclosed its governance token distribution structure publicly, including team vesting (20% allocation, 3-year linear vest with 1-year cliff), which expired in 2024.”
reviewerTeam vesting was 20% allocation on a 3-year linear vest with a 1-year cliff, which expired in 2024.Plausible and internally consistent with the page's own tokenomics section, but I could not independently verify the specific 20%/3-year/1-year-cliff figures against a primary source within this review.citedtokenomist.ai/orca
stale
2 claimsThe claim was accurate when written but events since have overtaken it.
- #5[stale][awaiting moderator]in section: Scale & Market Position
“DeFiLlama tracks TVL on the protocol at approximately $400–500 million depending on market conditions.”
reviewerDeFiLlama tracks Orca's TVL at approximately $400–500 million depending on market conditions.Both independently checked trackers currently show TVL below the $400–500M range the page states; this may have been accurate at an earlier snapshot but is stale now.Proposed correction (not yet applied)DeFiLlama tracks TVL on the protocol at approximately $230–320 million as of October 2026, below the $400–500 million range seen in earlier periods, depending on market conditions. - #6[stale][awaiting moderator]in section: Scale & Market Position
“As of mid-2025, Solana Compass data shows approximately 963,600 transactions, $122.8 million in swap-attributed volume, and 56,200 unique signers on active days.”
reviewerAs of mid-2025, Solana Compass shows Orca processing approximately 963,600 daily transactions, $122.8 million in swap-attributed volume, and 56,200 unique signers on active days.Solana Compass is a live, continuously-updating dashboard; the figures quoted are substantially below current activity levels and the stated date does not match the archived evidence's own timestamp.Proposed correction (not yet applied)As of October 2026, Solana Compass data shows approximately 2.4 million transactions, $615.5 million in swap-attributed volume, and 336,100 unique signers on active days.
link rot
4 claimsA cited source no longer resolves or no longer says what the page attributes to it.
- #11[link rot][awaiting moderator]in section: Security & Audit History
“The Neodyme report is also directly accessible as a public PDF.”
reviewerThe Neodyme report is also directly accessible as a public PDF (https://www.neodyme.io/reports/orca.pdf).The directly-linked Neodyme PDF is dead; the audit content remains accessible via the GitHub .audits directory, which should replace it as the citation.Proposed correction (not yet applied)https://github.com/orca-so/whirlpools/blob/main/.audits/2022-05-05.pdf - #12[link rot][awaiting moderator]in the cited sources
“https://www.neodyme.io/reports/orca.pdf”
reviewerThe Neodyme PDF audit report is reachable at neodyme.io/reports/orca.pdf (sources_used entry).Same underlying dead link as the inline citation in the Security & Audit History section.Proposed correction (not yet applied)https://github.com/orca-so/whirlpools/blob/main/.audits/2022-05-05.pdf - #13[link rot][awaiting moderator]in section: Centralization & Upgrade Authority Risk
“Whirlpools uses a WhirlpoolsConfig account structure in which the Orca Foundation controls the configuration owner for all pools surfaced on the orca.so UI.”
reviewerWhirlpools' account architecture (WhirlpoolsConfig, configuration owner authority) is documented at dev.orca.so/Architecture Overview/Account Architecture.The underlying factual claim about WhirlpoolsConfig is plausible and widely corroborated by other search results, but the specific cited URL is dead/redirected and should be replaced.Proposed correction (not yet applied)https://docs.orca.so/developers/architecture/whirlpool-parameters - #14[link rot][awaiting moderator]in the cited sources
“https://dev.orca.so/Architecture%20Overview/Account%20Architecture/”
reviewerdev.orca.so Account Architecture page is cited in sources_used as the reference for governance/account-structure claims.Same underlying dead link recorded in sources_used; archive_url for this entry also points to the generic docs.orca.so homepage rather than the specific page, confirming the redirect predates this snapshot.Proposed correction (not yet applied)https://docs.orca.so/developers/architecture/whirlpool-parameters
partially supported
1 claimThe cited evidence supports part of the claim but not all of it.
- #9[partially supported][awaiting moderator]in section: Security & Audit History
“Multiple sources, including CryptoRank and dexrank, state that Orca has experienced zero hacks or exploits since inception as of mid-2026.”
reviewerMultiple sources, including CryptoRank and dexrank, state that Orca has experienced zero hacks or exploits since inception as of mid-2026.The underlying substantive claim (no known Orca hacks) is plausible and uncontradicted elsewhere, but the CryptoRank citation is mischaracterized — it concerns a different protocol's hack and contains its own factual error (four audits, and a CEO name that conflicts with other sourcing), making it weak support for a 'zero hacks since inception' claim.
confirmed
15 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the summary
“launched in February 2021 by co-founders Grace "Ori" Kwan and Yutaro Mori”
reviewerOrca launched in February 2021, co-founded by Grace "Ori" Kwan and Yutaro Mori.Launch date and founder identities are consistently corroborated across official and independent sources. - #2[confirmed][no action needed]in section: What It Is
“introduced its flagship concentrated-liquidity product, Whirlpools, in March 2022”
reviewerWhirlpools, Orca's concentrated-liquidity product, launched in March 2022.Matches timeline entry and independent third-party guides. - #3[confirmed][no action needed]in section: What It Is
“In October 2024, Orca deployed Whirlpools on Eclipse mainnet, an Ethereum Layer-2 running the Solana Virtual Machine, making it the first multi-chain deployment of the protocol.”
reviewerIn October 2024, Orca deployed Whirlpools on Eclipse mainnet, its first multi-chain deployment.Date and characterization align with the official announcement and the page's own timeline entry. - #7[confirmed][no action needed]in section: Security & Audit History
“The audit record is as follows: Kudelski Security (January 28, 2022), Neodyme AG (May 5, 2022), OtterSec (August 21, 2024), Sec3 (February 28, 2025), Sec3 (June 23, 2025), and Sec3 (August 22, 2025).”
reviewerThe Whirlpools smart contract has been audited six times: Kudelski Security (Jan 28, 2022), Neodyme AG (May 5, 2022), OtterSec (Aug 21, 2024), and Sec3 (Feb 28, 2025; Jun 23, 2025; Aug 22, 2025).Dates and firm names match exactly across the official repository and an independent third-party audit tracker. - #8[confirmed][no action needed]in section: Security & Audit History
“The on-chain program (Program ID: whirLbMiicVdio4qvUfM5KAg6Ct8VwpYzGff3uctyCc) is deployed with a verifiable build, allowing independent parties to confirm that the on-chain bytecode matches the public source code at a specific commit using the Solana Verify CLI and OtterSec's verification API.”
reviewerThe on-chain Whirlpools program (Program ID whirLbMiicVdio4qvUfM5KAg6Ct8VwpYzGff3uctyCc) uses a verifiable build that can be checked against source via Solana Verify CLI and OtterSec's API.Program ID and verifiable-build claim both check out against the live repository. - #10[confirmed][no action needed]in section: Security & Audit History
“Orca maintains an active bug bounty program on Immunefi, live since May 19, 2022, with a maximum reward of $500,000 for critical smart contract vulnerabilities ($100,000 minimum) and $50,000 for high-severity findings. Proofs of concept in code form are required; no KYC is required for payouts.”
reviewerOrca's Immunefi bug bounty, live since May 19, 2022, pays up to $500,000 for critical bugs (minimum $100,000) and $50,000 for high-severity findings, with PoC required and no KYC for payouts.Fully confirmed against primary source. - #15[confirmed][no action needed]in section: Centralization & Upgrade Authority Risk
“The DAO council structure requires four council votes to pass proposals and includes a two-day veto window where token holders can block decisions with 1 million ORCA votes.”
reviewerOrca's DAO council requires four council votes to pass proposals and includes a two-day veto window where token holders can block decisions with 1 million ORCA votes.Governance mechanics match Orca's own council proposal description precisely. - #16[confirmed][no action needed]in section: Investor Relationships & Funding
“The round was co-led by Three Arrows Capital (3AC), Polychain Capital, and Placeholder VC, with participation from Coinbase Ventures, Jump Capital, Sino Global Capital, Collab+Currency, DeFiance Capital, Zee Prime Capital, and Solana Capital.”
reviewerIn September 2021, Orca raised $18 million in a token-based Series A co-led by Three Arrows Capital, Polychain Capital, and Placeholder VC, with Coinbase Ventures, Jump Capital, Sino Global Capital, Collab+Currency, DeFiance Capital, Zee Prime Capital, and Solana Capital participating.Investor list and round structure fully corroborated. - #17[confirmed][no action needed]in section: Investor Relationships & Funding
“Three Arrows Capital collapsed in June 2022 following the Terra/LUNA ecosystem crash and filed for bankruptcy.”
reviewerThree Arrows Capital collapsed in June 2022 following the Terra/LUNA crash and filed for bankruptcy.Standard, well-documented fact. - #18[confirmed][no action needed]in section: U.S. Geographic Restriction (March 2023)
“On March 16, 2023, Orca announced it was adding the United States to its list of restricted regions, effective March 31, 2023.”
reviewerOn March 16, 2023, Orca announced it was restricting U.S. users from its web interface effective March 31, 2023, without stating a reason.Confirmed against primary reporting; corroborated by CoinGeek and BitDegree coverage cited elsewhere on the page. - #19[confirmed][no action needed]in section: U.S. Geographic Restriction (March 2023)
“Comparable Solana DEXes — notably Mango Markets — shut down in 2025 following active SEC and CFTC enforcement.”
reviewerComparable Solana DEX Mango Markets shut down in 2025 following active SEC and CFTC enforcement.No source was cited inline for this specific claim on the page, but independent search confirms it is accurate. - #20[confirmed][no action needed]in section: Wavebreak Launchpad & Emerging Surface Area
“Orca CEO Nathan Davis made public statements about the anti-bot mechanisms.”
reviewerOrca CEO Nathan Davis made public statements about Wavebreak's anti-bot mechanisms.Confirmed via multiple independent, higher-credibility sources despite one conflicting lower-tier source naming a different person. - #21[confirmed][no action needed]in section: Wavebreak Launchpad & Emerging Surface Area
“The first publicly documented project to launch on Wavebreak was DeFiTuna's TUNA token.”
reviewerThe first publicly documented project to launch on Wavebreak was DeFiTuna's TUNA token.Confirmed. - #22[confirmed][no action needed]in section: Wavebreak Launchpad & Emerging Surface Area
“Upon token graduation, a liquidity pool is automatically created using 19.8% of the token supply plus 84 SOL, with a locked full-range liquidity position in a 1% fee-tier Adaptive Fee Pool.”
reviewerUpon Wavebreak graduation, a liquidity pool is automatically created using 19.8% of the token supply plus 84 SOL, as a locked full-range position in a 1% fee-tier Adaptive Fee Pool.Precisely confirmed against Orca's own official statement of the mechanism. - #23[confirmed][no action needed]in section: Scale & Market Position
“CoinGecko lists the ORCA token circulating supply at approximately 60.8 million against a 100 million hard cap.”
reviewerORCA governance token has a 100 million hard cap, with circulating supply of approximately 60.8 million as of mid-2025/CoinGecko data.Confirmed.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.