Orderly Network Weekly Report: An additional 33 million airdrop tokens, TVL exceeds 42 million US dollars

Last week, the locked amount of NEAR ecosystem’s decentralized trading protocol Orderly Network surpassed $42 million, with a cumulative trading volume of $59 billion.

Orderly Network was founded in April 2022, incubated by NEAR and WOO Network. Orderly Network provides order book-based trading, cross-chain liquidity, and high-speed execution to minimize latency. It combines the speed and liquidity of centralized exchanges with the transparency, decentralization, and instant settlement of decentralized finance, solving the pain points of early decentralized applications.

Orderly Network is committed to building a decentralized market infrastructure that optimizes order execution on the entire chain infrastructure. It currently covers six networks, including Ethereum, Arbitrum, Optimism, Polygon, Base, and Mantle. Since its launch, Orderly Network has attracted over 360,000 Web3 users and generated protocol revenue of $6.37 million.

The partnership continues to expand

Such achievements are due to Orderly Network’s continuous expansion of its partner relationships while improving the service experience. On June 21, Orderly Network announced a strategic partnership with Sable Finance and launched the decentralized perpetual futures trading platform, Sable Perpetuals. This milestone brings the total number of trading platforms on Orderly Network to 17. Sable Finance is a decentralized stablecoin protocol for liquidity-backed derivatives, creating the first multi-chain stablecoin centered around LSD.

According to Arjun Arora, Chief Operating Officer of Orderly Network, Sable Finance is pushing the boundaries of DeFi through innovative solutions, while Orderly Network’s perpetual futures trading infrastructure will provide Sable’s traders and users with a better trading experience. Through the collaboration with Orderly Network, Sable Finance has introduced perpetual futures trading, offering users integrated cross-chain perpetual futures trading with leverage of up to 50x, and providing deeper liquidity on platforms including Arbitrum, OP, Mantle, Base, and the Ethereum mainnet.

Increase the airdrop reward share

In addition, the airdrop plan is one of the most important driving forces for the orderly network’s ecological growth. On June 24, Orderly Network announced an increase in the airdrop total from 10% of the total supply to 13.3%. The token distribution of Merits increased from 59 million to 92 million, while extending the Merits event “The Road to The Order” by up to eight weeks, ensuring more rewards without diluting the airdrop.

Currently, the 13th cycle of the Merits points activity has started, which will be the final airdrop. This round of activity provides 2 million Merits for claiming. The Merits obtained by users before will now be more valuable and can be exchanged for more Orderly tokens.

With the approaching airdrop, Orderly Network has improved its EVM platform last week and added a series of features to provide users with support for quoting/inquiring levels of buy/sell orders, adjusting orders only, accelerating the deposit process, and more. Now users can handle more than 4 times the transactions on the platform.

Orderly Network was previously funded with a Series A financing of $20 million in June 2022, with participation from institutions such as Three Arrows Capital, Sequoia China, Pantera Capital, Dragonfly Capital, Jump Crypto, Seven X Ventures, IOSG Ventures, Alameda Research, GSR Ventures, and MetaWeb.VC.

As mentioned by Paul, an investor at Pantera Capital last week, Orderly Network’s advantage lies in its cross-chain transaction capability, Orderly Chain’s secure settlement capability, and the liquidity service it provides at the CEX level. In the new cycle, we look forward to Orderly Network continuing to drive the development of the DeFi ecosystem through innovation, providing users with a better trading experience.