Orderly Network Weekly Report: 33 million additional airdropped tokens, TVL exceeds $42 million

Last week, the locked-in volume of Orderly Network, a decentralized trading protocol in the NEAR ecosystem, exceeded $42 million, and the cumulative trading volume reached $59 billion.

Founded in April 2022 and incubated by NEAR and WOO Network, Orderly Network provides order book-based trading, cross-chain liquidity, and high-speed execution to minimize latency, combining 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 top of the full-chain infrastructure, and currently covers six networks including Ethereum, Arbitrum, Optimism, Polygon, Base, and Mantle. Since its launch, Orderly Network has attracted more than 360,000 Web3 users and protocol revenue of $6.37 million.

Partnerships Continue to Expand

This achievement is due to Orderly Network's continued expansion of partnerships while improving the service experience. On June 21, Orderly Network announced a strategic partnership with Sable Finance and launched Sable Perpetuals, a decentralized perpetual contract trading platform, marking the number of Orderly Network's trading platforms to 17. Sable Finance is a decentralized stablecoin protocol for liquid pledge derivatives, creating the first multi-chain stablecoin centered on LSD.

In the view of Arjun Arora, COO of Orderly Network, Sable Finance pushes the boundaries of DeFi through innovative solutions, and Orderly Network's perpetual contract trading infrastructure will provide Sable's trader users with a better trading experience. Through cooperation with Orderly Network, Sable Finance introduced perpetual contract trading, providing users with integrated cross-chain perpetual contract trading with up to 50x leverage, and providing deeper liquidity on Arbitrum, OP, Mantle, Base and Ethereum mainnet.

Increase the share of airdrop rewards

In addition, the airdrop plan is one of the most important driving forces for the growth of the Orderly Network ecosystem. On June 24, Orderly Network announced that it would increase the total airdrop from 10% of the total supply to 13.3%, increase the token distribution of Merits from 59 million to 92 million, and extend the Merits event "The Road to The Order" for up to eight weeks, ensuring more rewards without diluting the airdrop.

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

As the airdrop approaches, Orderly Network also improved its EVM platform last week, adding a series of new features to provide users with quote/ask levels for supporting buy and sell orders, support adjustments for post-only orders, and accelerate the deposit process. Now users can process 4 times more transactions on the platform.

Orderly Network received a $20 million Series A financing in June 2022 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 Pantera Capital investor Paul mentioned last week, the advantages of Orderly Network lie in its cross-chain trading capabilities, Orderly Chain's secure settlement capabilities, and the CEX-level liquidity services it provides. In the new cycle, we expect Orderly Network to continue to promote the development of the DeFi ecosystem through innovation and provide users with a better trading experience.