Oct 19, 2022
Product
Mainnet and Beyond
by Orderly Network
Today marks just over one week since our groundbreaking mainnet launch. Since going live, we have managed to capture the attention of DeFi enthusiasts, investors and the wider media as they are catching on to the future innovations that we will be delivering. The mainnet comes after a successful testnet which saw over 75,000 users and over $2.8bn in trading volume. We were beyond excited to bring Orderly Network’s infrastructure to mainnet.
The successful launch saw media coverage from more than 40 countries, including tech and finance-focused CoinMarketCap, Yahoo Finance, and MarketWatch. Most importantly, the feedback from users themselves has praised the ease-of-use and liquidity of WOO Network’s WOOFi DEX as the first dApp to launch on the Orderly platform.
Discussions with potential builders of more dApps have increased heavily since the launch and we can confidently say: you will see more dApps on the Orderly Network in the near future.
As people are starting to take notice of the benefits and long term future of what we are building, one of our investors, Seven X had this to say:
“The huge potential of Orderly resides in the fact that it is a scalable financial engine that can power a variety of financial applications. Additionally, Orderly is based on NEAR so the capabilities of the underlying network and programming language (Rust), makes the protocol even more scalable and developer-friendly. On the basis of the tendency that orderbooks will eventually replace AMMs as the dominant decentralized trading mechanism in the future, we believe that Orderly has strong potential to grow into a powerful financial complex.”
It is no secret that our mission is to enable the development of a wide variety of applications by providing existing infrastructure and liquidity for aspiring build teams to benefit from.
Co Founder, Ran Yi had this to say when asked about the Orderly mission: “We are building infrastructure to support the next generation of decentralized trading applications”.
By delivering infrastructure such as ours, we are able to lower the barrier of entry for applications to be built while providing best in class liquidity for all users to benefit from while navigating these products. This will allow opportunity for more applications to be built which, in turn — expands the variety and sheer number of new decentralized applications available.
One of the biggest issues in the DeFi space has been liquidity. We have been able to ensure the deepest of liquidity by leveraging our very solid network of initial market makers, such as; Kronos Research, AlphaGrep and LedgerPrime.
Another addition to the liquidity offering is the soon to be launched Community Pool. The community pool will allow users to lend tokens to market makers and get compensated for doing so. This is an added source of liquidity but more importantly, one that our users can earn from.
With Orderly infrastructure being built on top of NEAR Protocol, users will be required to create a NEAR wallet before they can utilize any of the applications we have and will have. Here is a simple guide that will walk you through how to create one: https://www.youtube.com/watch?v=SnMyoEm73mQ
Users are able to benefit from deep liquidity on 5 assets listed on the WOOFi DEX, these assets are BTC, ETH, NEAR, WOO and AURORA.
The platform enables you to simply trade by just connecting your NEAR wallet. Adding to the ease of use and user experience, the interface on the DEX is customizable to the point where you can create your own trading view that best suits your trading style.
More assets are coming soon as the WOO team is keen to expand the current offerings as soon as possible. Go ahead and follow them for more updates on assets and application upgrades as they look to scale out their DEX to its end state model.
What’s next? Although we have a lot to celebrate from these recent events, the Orderly journey has just begun. With a suite of products due to be rolled out, we are making way through the roadmap to deliver these structures for future builders to be able to utilize. This will allow for a wider variety of trading applications for all users to benefit from. The next stage of development is heading towards perpetual futures that will be available to builders in Q1 of 2023.
Q1 promises to be a busy month as we will also be moving the orderbook infrastructure for DEX’s on-chain. This is another step towards decentralization as we continue on our mission to empower the user through decentralized finance structures and applications.
You may be wondering who will be utilizing this infrastructure in the coming months. We are in advanced talks with multiple DEX partners and we are able to confidently say, we will be onboarding projects from both in and outside of the NEAR ecosystem. As well as DEXs — we are engaging with wallets, gamefi projects and NFT marketplaces to support their liquidity needs with our upcoming swap function that is due to be released in Q2 2023.
Keep your eyes peeled for a major announcement that will also showcase our ongoing talks with custodians and institutional players in order to support their traditional finance (TradFi) audiences. This has significant relevance to the growth of DeFi by opening the door to solving some of the problems we currently face in the traditional finance world.
We have a wide variety of exciting releases and announcements on their way but in the meantime — you can see the roadmap in the graphic below.
To keep up to date on all things Orderly, be sure to follow us below!
Twitter: https://twitter.com/OrderlyNetwork
Discord: https://discord.gg/OrderlyNetwork
Website: https://orderly.network
