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Cryptocurrency News Articles

Orderly Network Integrates Solana Into Its Omnichain Orderbook

Dec 03, 2024 at 05:00 am

Orderly Network has deployed its omnichain perpetuals orderbook on Solana's mainnet, marking a significant step in decentralized finance (DeFi) trading.

Orderly Network Integrates Solana Into Its Omnichain Orderbook

Orderly Network has announced the integration of Solana into its omnichain perpetuals orderbook. This development marks a significant step in DeFi trading, introducing Solana users to omnichain DeFi trading and enabling them to directly access liquidity pools that span over 30 decentralized exchanges (DEXs) and 73 perpetual markets.

The integration of Solana into Orderly's existing EVM-focused ecosystem will allow users to trade seamlessly across both platforms. This integration eliminates the need for bridging or asset wrapping, overcoming barriers that have traditionally limited the efficiency of cross-chain trading.

For the first time, Solana users will be able to directly trade memecoin perpetuals with EVM-focused participants across more than 30 integrated DEXes, all without the need for bridging or wrapping. This is how we unlock deep liquidity across all chains while increasing the bar for user experience and trading efficiency at speed. This is what we mean when we say we want anyone to be able to trade anything, anywhere. —Ran Yi, Co-Founder of Orderly Network.

Solana's on-chain trading activity has largely been focused on spot trading, with perpetuals trading seeing limited adoption due to liquidity constraints. Orderly aims to address this gap by leveraging its omnichain infrastructure to route Solana trades through a unified orderbook. This architecture enhances liquidity and creates a more robust trading environment, positioning Solana as a strong contender in the perps trading market.

Orderly's chain-agnostic design ensures that trades executed on Solana are matched via its centralized orderbook engine and settled across its integrated networks. The platform's liquidity layer supports a wide array of decentralized applications, unlocking new opportunities for developers and traders.

The mainnet launch of Orderly on Solana is a milestone in delivering a true omnichain experience for perps traders and adds a missing piece of the puzzle in connecting Solana’s onchain landscape with EVM networks via a single unified orderbook. With Orderly now live on Solana, projects, developers, and traders can tap into a DeFi primitive that will power a broad range of dApps fueled by deep liquidity. —Ran Yi, Co-Founder of Really Network.

With support across major EVM chains, including Ethereum, Polygon, and Arbitrum, Orderly extends its services to Solana users, further consolidating its position as a global liquidity provider. This builds on previous integrations, such as Orderly Netowrk’s recent expansion to the Avalanche blockchain, where Orderly enhanced cross-chain liquidity and decentralized finance opportunities.

Original source:coincodex

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