Orderly Network Launches Its Highly Anticipated $ORDER Token

Orderly Network, an innovative L2 that offers trading infrastructure and an omnichain liquidity layer, launched its highly anticipated $ORDER token on August 26

Orderly Network, a Layer 2 that provides a trading infrastructure and an omnichain liquidity layer, launched its highly anticipated $ORDER token on August 26, 2024.

The launch of the token, which follows a successful Merits Campaign, marks a significant step in Orderly Network's journey towards becoming more community-owned and setting the stage for further growth and innovation in DeFi trading.

As the TGE approaches, Orderly Network is solidifying its position as a leader in DeFi, emerging as the second most active protocol on LayerZero Labs – recently crossing over 1M messages – and the largest, most efficient user of Celestia for data availability.

The protocol has also seen rapid adoption, with over 20 DEXs and even major CEXs like WOO, BTSE, and AscendEX leveraging its infrastructure for DEX building and the permissionless liquidity layer for all Web3 trading.

Orderly Network offers an orderbook-based trading infrastructure and an omnichain liquidity layer, equipping DeFi projects with institutional-grade liquidity for both spot and perpetual trading across a diverse range of assets.

Orderly Network ensures seamless trading via an orderbook across multiple networks, guaranteeing liquidity and achieving high execution speeds.

This combination delivers a CEX-like trading experience while ensuring self-custody and transparency with all trades settled on the Orderly Chain. Orderly leverages Celestia for modularity and Layerzero for secure cross-chain messaging.

The Orderly Chain serves as the settlement and ledger for all transactions (i.e. transaction data, user data balances, and trading data) on Orderly Network, maintaining seamless operations even in the unlikely event of a downtime to the matching engine orderbook.

This resilience means that brokers on Orderly Network can confidently manage trading positions and user balances, ensuring uninterrupted service.

With all trades settled on the Orderly Chain, Orderly unlocks cross-netting capabilities previously unavailable in DeFi, similar to the function of the CME in TradFi.

Speaking on the upcoming launch, Arjun Arora, COO Orderly Network, said: “As we prepare for this pivotal moment in our journey, we are eager to reward our earliest supporters who have been instrumental in our growth.

"The launch of our token is not just a milestone for Orderly Network, but a celebration of our community’s contributions and a look ahead to the future. We are excited to see the evolution of Orderly and the transformative impact it will have on DeFi trading.”

As part of the build-up to its token launch, Orderly Network introduced “The Road to the Order” campaign, a gamified initiative designed to engage and reward active traders with “Merits.”

The campaign saw traders earn Merits with every trade, contributing to their portion of the upcoming airdrop this August, post-TGE.

Users are now able to view their earned merits and claim their airdrop once $ORDER goes live.

The campaign averaged over 50,000 weekly active traders, spread across six tiers of active trading within the Orderly Merits program.

For additional details on the campaign earned Merits, visit the Road to The Order and Merits Status pages.

“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. We’re thrilled to see how this next phase unfolds and to continue pushing the boundaries of DeFi trading together.” said Ran Yi, Co-founder, Orderly Network.

Orderly Network’s rapidly increasing ecosystem, alongside its innovative trading infrastructure, sets up its token launch event as one of the most anticipated drops this summer.

By creating an innovative L2 with high-speed execution, omnichain liquidity, and an intuitive orderbook interface, Orderly Network is not only enhancing the trading experience but also setting new standards for efficiency, security and performance in DeFi trading.