Orderly Network Successfully Deploys Omnichain Orderbook on Solana
Orderly Network is excited to announce its revolutionary expansion to the Solana Network, after the successful deployment of its omnichain orderbook on the Solana Blockchain, which will enable both EVM and non-EVM users to trade perps from a single, shared orderbook.
With a focus on unified liquiditythe cornerstone of Orderly Networks solution offering to DeFithe Orderly Unity initiative makes Solana the newest blockchain capable of giving consumers a fully omnichain trading experience.
Without ever having to move their assets off of the parent network, Solana-based traders may now deposit their assets on Orderly and trade against counterparties on all other chains supported by Orderly from the same orderbook. The Solana integration is now operational on the testnet, and the mainnet is scheduled to launch in November.
Orderly makes a significant advancement in building a DeFi ecosystem where everyone may trade any asset with ease on any platform by integrating Solana. Because of Co-Founder Ran Yis specialization in conventional finance, Orderly is able to portray itself as the Chicago Mercantile Exchanges (CME) counterpart via Orderly Unity.
Cross-netting capabilities and improved capital efficiency are achieved by deploying asset vaults on multiple chains, with all trades subsequently performed and settled on the Orderly Chain. The outcome is a hitherto unheard-of inclusive, trader-first strategy for DeFis growth, with Orderly taking the lead.
With a focus on developing omnichain trading infrastructure that offers builders ready-to-use liquidity, Orderly has already been implemented on major chains like Base, Mantle, Ethereum Mainnet, OP, Polygon, Arbitrum, and now Solana. This completes an impressive market offering that will give traders better access to popular assets like memecoins. By providing a uniform trading infrastructure across all major chains, Orderly gives traders and exchanges access to more than 50 markets.
Ran Yi, Orderly Network CoFounder stated:
Were excited to see Orderly take its place as the first trading solution in DeFi to unite onchain perps trading for both EVM and non-EVM users in the same shared orderbook. This is in-line with our protocols charge forward: Orderly Unity. Were on a mission to unify liquidity across all chains and create an environment of trade without limits.
Arjun Arora, Orderly Network COO stated:
Solana is renowned for its high throughput, low latency, and cost-effective transactions, making it an ideal network for the next phase of Orderlys omnichain expansion. By deploying our omnichain vault on Solana, we are bringing a seamless perps trading experience to Solanas vibrant ecosystem of traders, builders, and dApps. This expansion marks the first in the space to offer perpetuals to both EVM and non-EVM users within one unified orderbook, supporting our Orderly Unity mission of a truly omnichain DeFi ecosystem.
Orderly Network has had steady growth in 2024, surpassing their previous milestone of $83 billion in total trading volume. This is the most recent in a series of beneficial, high profile integrations and initiatives.
Read more: https://thenewscrypto.com/orderly-network-successfully-deploys-omnichain-orderbook-on-solana/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
