The dawn of the month of November ushered in a remarkable milestone for us at Orderly Network — we announced Orderly Omnichain on mainnet!
Orderly Omnichain represents our expansion to the broader DeFi ecosystem, starting with the birth home of DeFi — the EVM ecosystem. We’ve built an order book that is accessible via all major EVM chains, thus delivering the numerous benefits of Orderly’s innovative infrastructure to EVM builders and traders.
How did we achieve this? Read along as we spotlight a vital component of Orderly’s omnichain infrastructure in this article.
The Orderly Settlement Layer is an app-chain built on OP Stack which resides between the Asset Layer and the Engine Layer in the Orderly EVM architecture. Orderly’s settlement layer serves as a ledger for all transaction data, user data balances, and trading data retrieved from the engine layer — all stored on-chain for transparency.
Essentially, trade execution is off-chain for optimal performance, settlement is on-chain for transparency. View Orderly Chain Block Explorer
Orderly Omnichain architecture has three main layers at its core:
Asset Layer — This layer resides on each chain Orderly Network supports in the EVM ecosystem.
Settlement Layer — This layer resides on a single chain and powers all cross-chain messaging operations
Engine Layer — This layer powers the Orderbook and order-related services on Orderly Network
With all orders being settled on-chain, Orderly’s settlement layer sends/receives deposit/withdrawal instructions from the engine layer and updates users’ on-chain balance. The settlement layer then relays these instructions to/from the Asset Layer — all of these communication powered by LayerZero.
In essence, your funds don’t actually need to move. Only these messages are sent across chains with all associated data recorded on-chain for optimal transparency, verifiable by anyone.
## The OP Stack Advantage One of the main benefits of using the OP Stack is that it enables interoperability and composability between different Layer 2 chains. This is because all OP chains share a common security and communication layer, and are built from the same standardized technology stack. This means that users can seamlessly move their assets and data across different OP chains without having to switch networks or use bridges. This also means that applications can interact with each other across different OP chains without losing functionality or performance.
Orderly’s omnichain efforts seek to unify liquidity in one single order book while delivering optimal trading experiences. Fundamental to Orderly attaining this is ensuring that trades are not only fast and cost-effective but also secure from end-to-end. OP Stack provides the composability and modularity necessary to attain optimal security, superior speeds, and fair execution costs.
##What’s next? The Future is Modular Currently, we are developing a new SDK with enhanced features and new API docs for institutional traders. This SDK will streamline the process for builders to integrate with Orderly’s infrastructure, enabling a more efficient and robust trading experience.
Concurrently, we are revamping our API documentation. The new API docs are designed to be more intuitive, allowing developers and institutional traders to easily understand and implement the functionalities they require. This means quicker integrations and more time for developers to focus on creating innovative solutions for traders.
## Expanding our Omnichain Order Book Reach We have taken significant steps to ensure that our omnichain order book is not only operational but thriving on the EVM Mainnet with Arbitrum leading the charge. Following this, we plan to expand our reach, integrating with other major EVM chains such as Optimism, Base, Polygon, Linea, Scroll, and more.
This expansion is strategic, ensuring that we cover the vast landscape of the DeFi ecosystem, and bring Orderly’s superior trading infrastructure to as many users and builders as possible.
## Journey so far to Omnichain Mainnet Since the launch of our Orderly Omnichain testnet, the numbers have been telling of the positive reception and trust in our network. The testnet saw extensive testing from many projects such as WOOFi — the decentralized arm of WOO — all of which emphasized the robustness and readiness of our platform for mainnet operations.
As we celebrate these milestones, we understand that the journey ahead is filled with both opportunities and challenges. Our dedication to security, user experience, and transparency will continue to be the north star for our development efforts.
## Looking Ahead The future for Orderly Network is vibrant with possibilities. We are not just building a product; we are nurturing an ecosystem that bridges the gaps across DeFi, providing a cohesive, efficient, and transparent trading infrastructure. Our eyes are set on continued growth, enhancing our infrastructure, expanding our offerings, and above all, serving the DeFi community with unwavering commitment.