Monad Labs Joins Forces With Orderly Network Ahead of Testnet Launch

Monad, an Ethereum Virtual Machine (EVM) layer-1 blockchain about to launch its testnet, has joined forces with Orderly Network

Monad, an Ethereum Virtual Machine (EVM) layer-1 blockchain, is preparing to launch its testnet. Ahead of the launch, Monad has announced a partnership with Orderly Network, a decentralized exchange (DEX) infrastructure.

The partnership aims to enhance the trading experience on Monad's upcoming blockchain and contribute to the broader decentralized finance (DeFi) ecosystem.

With the arrival of the Monad testnet on Wednesday, traders will gain access to a high-speed EVM-compatible development platform and the potential for airdrops on the L1.

According to a press release, Orderly's network currently boasts a lineup of around 20 market makers, including Wintermute, Selini and Riverside.

The partnership comes amid anticipation within the decentralized trading industry, including major exchanges like Coinbase (COIN), for a resurgence of DeFi activity in the upcoming months.

The crypto-friendly administration of President Donald Trump is expected to provide a regulatory tailwind for the crypto sector. Notably, the first DeFi summer in 2020 followed Federal Reserve interest-rate cuts in response to the COVID outbreak.

Orderly already provides users with a shared order book that spans multiple blockchains, including Arbitrum, Optimism, Polygon, Base, Mantle and Near.

“Orderly is an omni-chain trading infrastructure with a focus of solving for fragmented liquidity,” Chief Operating Officer Arjun Arora said in an interview with Blockworks.

“With more chains propping up day by day, liquidity continues to get fragmented across DeFi, TVL [total locked value] continues to get moved around.”

In April 2024, Monad Labs announced that it had raised $225 million in a funding round led by Paradigm.