TL;DR

Orderly Network launches the first omnichannel order book on Solana, enabling trading of perpetual contracts on a shared order book.
The expansion to Solana follows a milestone of $83 billion in total trading volume, solidifying its mission to unify liquidity across multiple chains.
This integration provides Solana traders with a seamless trading experience while maintaining custody of their assets.

Orderly Network has taken a significant step into the decentralized finance (DeFi) ecosystem by announcing the deployment of its omnichannel vault on the Solana blockchain.

This development not only strengthens Orderly’s position as a leading source of liquidity for Web3 trading, but also offers Solana users the ability to trade perpetual contracts through a shared order book with other chains.

Introducing Orderly Unity—A World’s First

Perp traders on @solana will soon share an orderbook with traders from major EVM chains

With Orderly Unity, your Solana deposits stay on @solana, while your trades seamlessly match with EVM traders via the Orderly-chain.

Get… pic.twitter.com/hkOaLpdsdS

— Orderly Network (@OrderlyNetwork) October 17, 2024

The information is based on an official statement from Orderly Network.

With an impressive total trade volume reaching $83 billion, Orderly Network has managed to become a key infrastructure for omnichannel commerce.

The platform already operates on multiple networks including Arbitrum, Base, Mantle, Ethereum Mainnet, Optimism, and Polygon, providing ready-to-use liquidity for developers and traders in over 50 markets.

The choice of Solana as the next destination for this expansion is due to its high throughput, low latency, and low-fee transactions features, which are essential for the success of DeFi trading.

The implementation of the vault on Solana marks a major milestone in Orderly’s quest to create a truly omnichannel DeFi ecosystem.

With this new functionality, Solana traders can deposit their assets on Orderly and trade against counterparties on other networks without their funds leaving the original network.

Not only does this improve the trading experience for users, but it also aligns with Orderly’s mission of unifying liquidity across different platforms.

An omnichannel future for DeFi commerce with Orderly Network

Orderly Network bases its omnichannel architecture on three main layers: the asset layer, the engine layer, and the settlement layer.

The asset layer is responsible for managing all asset vaults deployed across multiple chains, while the engine layer houses a robust matching engine that powers the unified order book.

Finally, the settlement layer acts as an L2 rollup where all trades are executed and settled, serving as a single source of truth for transactions on the network.

This architectural design allows every trade made on an Orderly-powered protocol to be routed through the order book, where it is matched and then transmitted to the settlement layer to ensure transparency, all while users maintain custody of their funds.

This approach not only provides greater efficiency, but also enhances Orderly’s ability to deliver a smoother and more secure trading experience.

With the integration of Solana, Orderly Network is moving towards its vision of a DeFi ecosystem where anyone can seamlessly trade any asset. The platform is positioning itself as a benchmark in the space, similar to the Chicago Mercantile Exchange (CME), seeking to transform the way traders interact across multiple chains.

Orderly Network continues its mission to create a future where liquidity is truly omnichannel, improving capital efficiency and facilitating trading across multiple platforms.

This expansion to Solana is just the beginning of a journey towards a more interconnected and accessible DeFi ecosystem. Orderly Network is committed to creating a space where traders can operate without limitations, leveraging the unique capabilities of each chain to deliver an unparalleled trading experience.

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Filed under: News - @ October 17, 2024 2:28 pm