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Dec 30, 2022
Announcements
A Year in Order
by Orderly Network
a-year-in-order

A Detailed Recap of Orderly's Journey in 2022

2022 has been a historic year on many levels: from aggravated global mistrust and geopolitical tensions to the enormous industry shakeup following the collapse of some of the most significant forces in the crypto space.

With the call and need for decentralized solutions rising to an unprecedented level during this turbulent time, Orderly Network was born with a vision to empower Web3 builders to create innovative applications to better the lives of their users.

Following the Testnet launch in May, Orderly Network officially went live on NEAR Mainnet on Oct 11, 2022, embarking on a journey to provide the most robust liquidity layer for any dApp to build on. We’re genuinely grateful for all our incubators, investors, ecosystem partners, and community members. This milestone was only achievable with unwavering support from all of you.

As we look back upon the last few months, it’s gratifying to see how much everyone has achieved together during such a short period.

In June, we completed a US$20 million seeding round led by many venture capital heavyweights, including Pantera Capital, Jump Crypto, Sequoia China, and Dragonfly Capital, as well as a group of strategic partners. Not long after, Laser Digital, a crypto subsidiary of global financial services group Nomura, also joined the list of Orderly Network backers. We want to thank all our strategic partners for their commitments to the decentralized future.

Building a best-in-class product is the key to accomplishing our vision. We are constantly striving to improve the user experience on Orderly Network and will always look for new ways to enhance the platform while providing the most secure and reliable way to access the world of DeFi. Throughout 2022, the team has focused on providing efficient and secure order matching to builders and users with optimized order-book implementations on NEAR protocol. Since the mainnet launch, Orderly Network has generated around $150 million in trading volume on WOOFi DEX with five spot pairs, clocking the highest daily volume of $16 million.

Next, we will roll out support for Perpetual Futures, allowing traders to open long or short positions without expiration. In addition, we are also working on Community Pools, which will enable users to contribute to and earn a share of the profits generated by the pool. Community Pools will boost liquidity on Orderly Network across all existing and potential markets. Another new feature on the horizon is lending and borrowing functionality. Once launched, users can lend their assets to other users or borrow assets from the platform. In the future, we are also planning to integrate Swap functionality, making asset exchange quick and easy for all users.

Besides tirelessly building out a roadmap of innovations, we are also fostering the growth of an entire ecosystem via active collaborations. We are currently supported by these major wallets: NEAR Wallet, MyNearWallet, Sender Wallet, Meteor Wallet, and Nightly Wallet. More partnerships on dApps, oracles, and custodies are in the pipeline. Together with our ecosystem partners, we will further break down the entry barrier for DeFi builders and thus rapidly advance the DeFi offering within NEAR and the entire crypto ecosystem.

Furthermore, Orderly Network has joined forces with Proximity, Spin, and Tonic to launch a $10 million ecosystem fund dedicated to bootstrapping decentralized order-book solutions on NEAR. With more developer grants in the plan, we invite builders from any ecosystem to join us in building a centralized finance-grade, self-custody trading infrastructure by leveraging the experiences of our incubator WOO Network and NEAR in building trading platforms and decentralized exchanges.

The community is at the center of our commitment to the decentralized future, and it’s heartening to see a 40K-member global community assembling from scratch within just a few months. We are grateful for everyone’s overwhelming support and participation since the beginning. Stay tuned for all the excitement and fun ahead!

Looking back at 2022, we have built a solid foundation for an action-packed 2023. In the new year, we aspire to reach the $1 billion mark in daily trading volume, with more than 30 dApps integrated into the protocol, translating to around $100 million in protocol revenue. With a fast-growing team of 36 and counting (full-time/advisors), we are confident that the decentralized future will be here, sooner than later.

The Orderly Network Team.

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