Orderly Network Launches Solana Perps with 30 DEXs and 73 Perps

by

As a seasoned researcher with a penchant for exploring the ever-evolving world of decentralized finance (DeFi), I find myself utterly enthralled by the recent launch of Orderly Network’s perps omnichain orderbook on Solana’s mainnet. With over 30 years of experience in the tech industry, I can confidently say that this development represents a monumental leap forward for DeFi trading and cross-chain interactions.

In a groundbreaking move, Network Orderly has debuted its universal chain perpetual orderbook on Solana’s primary network, opening up the opportunity for Solana users to engage in decentralized finance (DeFi) cross-chain trading for the very first time. This development, featuring more than 30 decentralized exchanges (DEXs) and 73 trading perpetuals, represents a major achievement.

In simpler terms, Orderly Network functions as a borderless marketplace for Web3 transactions, built upon an infrastructure that spans multiple blockchains. This setup ensures that Orderly can provide extensive liquidity for various assets across different blockchains. The main goal is to foster a decentralized finance (DeFi) ecosystem that is accessible to everyone, empowering developers to develop diverse financial tools suitable for traders at all skill levels, without the potential risks linked to cross-chain connectivity.

For the very first time, Orderly has merged EVM and non-EVM orders into one unified Perpetual Swap orderbook through their mainnet launch on Solana. This integration makes Orderly the pioneer in merging this two-chain super-ecosystem, which carries a market capitalization that surpasses half a trillion dollars. Now, tokens from both chains can be utilized directly for trading, eliminating the need for bridging, wrapping, or detours.

Overcoming Liquidity Challenges

Although Solana’s spot trading volumes are robust, the landscape for perpetual swaps trading has been slower, with limited liquidity acting as a hindrance to wider acceptance. To address this issue, Orderly offers a cross-chain solution that enables users to engage in real-time trading of liquid perpetual swap markets. When a trade is conducted on Solana, Orderly’s engine layer distributes it through the orderbook, matches it, and subsequently transmits it to the settlement layer for completion.

As an analyst, I’d like to highlight the benefits of Orderly Network, a platform co-founded by Ran Yi. This platform offers Solana users direct entry into trading meme coin perpetuals, with a focus on participants from EVM-centric exchanges numbering over 30. The unique aspect is that it bypasses intricacies like bridging or wrapping, streamlining the process for users.

For the first time through Orderly, Solana users can trade meme coins as perpetuals with participants focused on EVM platforms across more than 30 integrated DEXes. This connection provides substantial liquidity across chains and elevates user experience and trading efficiency. Essentially, this is the fulfillment of Yi’s statement about trading assets anywhere.

Launching the mainnet on Solana marks an important step towards delivering a genuine multi-chain experience for perpetual swap traders. This connection bridges Solana’s on-chain environment with Ethereum Virtual Machine (EVM) networks, offering a unified order book. As a result, projects, developers, and traders can access a decentralized finance (DeFi) tool driven by substantial liquidity from multiple chains.

Expansion Across Major EVM Chains

On various Ethereum Virtual Machine (EVM) networks like Arbitrum, Base, Mantle, Ethereum Mainnet, Optimism (OP), Polygon, and now Solana, Orderly has been deployed extensively. This broad coverage provides traders and decentralized exchanges (DEXs) access to more than 70 markets. With the deployment on the Solana mainnet, Solana traders can deposit assets and trade with partners across all chains that Orderly supports for the first time.

Using Orderly on Solana, traders will encounter an improved trading journey that usually comes with fewer complexities in cross-chain transactions. This novel method not only makes the process easier to navigate but also offers a smoother and quicker trading ecosystem.

Read More

2024-12-02 17:37