Public launch powers decentralized exchange WOOFi DEX and outlines roadmap
NASSAU, Bahamas, Oct. 11, 2022 /PRNewswire/ — Orderly Network, a robust decentralized trading infrastructure that offers permissionless spot and futures order-book trading, built on the NEAR blockchain is coming to the mainnet on October 11th. The scheduled launch will power decentralized exchange WOOFi DEX with Orderly’s order book infrastructure, allowing pro traders access to deep liquidity.
“This launch comes after our successful testnet, which generated over 75,000 users in just ten weeks, $2.2billion WOOFi DEX volume, and 764,000 on-chain transactions. Starting with WOOFi DEX, we will offer centralized finance-level trading infrastructure by leveraging the experiences of our incubator WOO Network and NEAR in building trading platforms and decentralized exchanges,” said Ran Yi, Co-founder at Orderly Network.
Along with the launch, Orderly Network also outlined its roadmap of innovations that are coming to the infrastructure including perpetual swaps, on-chain order-book, community pool, lending and borrowing, and swap functionality, among others.
“We have also outlined our roadmap that is aligned with our goal of providing the most robust liquidity layer infrastructure for any (decentralized apps) dApps to build on. The steps that we are taking will further break down the barrier to entry for building (decentralized finance) DeFi applications while advancing the overall offering of DeFi on NEAR,” Yi said.
“We’re excited for the Orderly Network team’s mainnet launch on NEAR,” said NEAR Co-Founder Illia Polosukhin. “Orderly takes a unique approach, bringing self-custody and composability to a DEX while keeping the exchange user experience on par with custodial analogs. This can become the new fairer, faster standard of trading and open up more use cases in the NEAR DeFi ecosystem.
In July this year, Orderly Network raised more than USD20 million from strategic investment rounds from a group of crypto venture heavyweights and a financial institution, including Pantera Capital, Dragonfly Capital, and Sequoia China.
To ensure that trading pairs are liquid after Orderly’s public launch, market makers AlphaGrep, Kronos Research, and LedgerPrime will provide the initial liquidity. To further enhance liquidity, Orderly Network will launch community lending pools where token holders can lend assets to market makers while enjoying a single-sided liquidity provision with sustainable yields.
As DeFi rapidly evolves, Orderly Network strives to fulfill the needs of pro traders and institutional clients by providing infallible access to digital assets. Leveraging top 10 crypto exchange WOO Network, and NEAR, a leading public layer-1 blockchain for a wide array of dApps, Orderly enables traders to execute orders directly utilizing smart contracts while providing desired flexibility with order sizes and pricing.
Orderly Network is a permissionless, decentralized exchange protocol built on NEAR. Founded in April 2022 with the mission to create the most robust liquidity layer infrastructure for any dApp to utilize and build on, Orderly Network offers market-leading execution with low latency, minimal fees, and access to ample liquidity options. For more information, visit our website.
SOURCE Orderly Network