Orderly Networks Reveals Its Upcoming $ORDER Token Launch: A Step Closer To Changing The Defi Experience
Orderly Network, the permissionless liquidity layer for Web3 trading is proud to announce the launch of its highly anticipated $ORDER token to deliver a CEX-like trading experience on-chain for traders and builders.
The Orderly Network Token Generation Event (TGE) is set for August 26, 2024, marking a significant milestone for the Orderly Network. The $ORDER token plays a key role in the Orderly Networks ecosystem, supporting decentralization and growth and serving as an incentive instrument to users. The launch marks another significant milestone in the evolution of Orderly and its transformative impact on DeFi trading.
Notably, the Orderly Network team has also planned a big airdrop for the TGE at 8:00 AM UTC. Set to take place on the Ethereum main net (ERC20), the airdrop will distribute 100 million $ORDER tokens to various eligible participants, including Orderly Merits contributors, social campaign participants, and traders on NEAR and EVM.
Commenting on the projects development, Ran Yi, Co-founder of Orderly Network, said:
We are incredibly excited for Orderly Network to become more community-owned as we move forward. This token launch represents a significant step in our journey, allowing us to reward our earliest supporters and engage with our growing community in new and meaningful ways. Were thrilled to see how this next phase unfolds and to continue pushing the boundaries of DeFi trading together.
The $ORDER tokens total supply is capped at 1 billion tokens. 55% of these tokens have been allocated to the community, including rewarding early supporters through the airdrop. 15% will be used for strategic investors, 20% for teams and advisors, and 10% for project building, including liquidity provisions and ecosystem development.
Orderly Network combines an order-based trading infrastructure and a robust liquidity layer to offer spot and perpetual futures order books. It seeks to equip DeFi projects with institutional-grade liquidity, ensuring seamless trading through order books across multiple networks. In addition, Orderly leverages Celestia for Layerzero and modularity for cross-chain messaging.
Since its launch, Orderly Network has achieved many milestones, including recording over $80 billion in Total Trading Volume, deploying n six major blockchain networks, a user base exceeding 290k unique wallets, and more than $50 million in Total Value Locked (TVL). The Network has also formed various strategic partnerships, onboarded 20 brokers, launched the Orderly Quantum Pools, its first user-facing product, and listed over 50 EVM perp symbols. Other Ordely-powered DEXs and products include Quickswap, WOOFi Pro, LogX, and Elixir.
Before the launch, the Orderly Team introduced The Road to the Order campaign designed to reward active traders with Merits points that are exchangeable with Orderly Network tokens. The gamified initiative allowed traders to earn merit for every trade made. Users can now view their earned merits and claim their airdrop once $ORDER goes live.
Following the airdrop, the team behind the project plans to list the $ORDER token on several prominent exchanges, including Bybit, BItMart, Bitget, and Bitrue.
Text source: ZyCrypto
