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Responding to the "datacenter tax" and "killer microseconds" problems for datacenter applications, diverse solutions including Smart NIC-based ones have been proposed. Nonetheless, they often suffer from high overhead of communications over network and/or PCIe links. To tackle the limitations of the current solutions, this paper proposes ORCA, a holistic network and architecture co-design solution that leverages current RDMA and emerging cache-coherent off-chip interconnect technologies. Specifically, ORCA consists of four hardware and software components: (1) unified abstraction of inter- and intra-machine communications managed by one-sided RDMA write and cache-coherent memory write; (2) efficient notification of requests to accelerators assisted by cache coherence; (3) cache-coherent accelerator architecture directly processing requests received by NIC; and (4) adaptive device-to-host data transfer for modern server memory systems consisting of both DRAM and NVM exploiting state-of-the-art features in CPUs and PCIe. We prototype ORCA with a commercial system and evaluate three popular datacenter applications: in-memory key-value store, chain replication-based distributed transaction system, and deep learning recommendation model inference. The evaluation shows that ORCA provides 30.1~69.1% lower latency, up to 2.5x higher throughput, and 3x higher power efficiency than the current state-of-the-art solutions.