Through close collaboration with NEAR, WOO Network and Kronos Research: Orderly Network offers permissionless spot and future orderbook trading infrastructure with CeFi-level execution
June 09, 2022 — Orderly Network, a permissionless, decentralized exchange protocol built on NEAR, today announced the completion of a US$20 million strategic round of financing from: Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, GSR Ventures, and MetaWeb.VC, as well as a group of strategic partners.
Orderly Network is a permissionless, decentralized exchange protocol and modular ecosystem built on top of NEAR. Orderly Network uses an on-chain order book to provide a platform complete with a risk engine, matching engine, and shared asset pools for dApps to build on top of. Orderly Network’s on-chain order book exchange is built for composability, providing a platform for modular dApps to build and utilize, enabling financial instruments such as: spot trading, margin trading, perpetual swaps, lending, and borrowing.
Founded in April 2022, Orderly Network is incubated by NEAR and WOO Network. With WOO DEX launching the first dAPP as the user interface of the Orderly Network trading platform, users will be able to enjoy permissionless, low-fee trading while having access to ample liquidity options at all times. Leading market maker Kronos Research will support the bootstrapping of initial liquidity, providing a customizable, professional-grade trading experience from day one. You can now try WOO DEX live on testnet at: https://testnet-dex.woo.org/en/trade.
With a mission to create the most robust liquidity layer infrastructure for any dApp to utilize and build on, Orderly Network offers permissionless spot and futures order book trading infrastructure with CeFi-level execution. Professional market-makers, including Kronos Research, will be able to ensure ample liquidity for the network at all times — an immediate access to deep liquidity at launch. By building off NEAR, Orderly Network is tapping into one of the fastest, most scalable, and user-friendly layer one blockchains in the space.
For traders, Orderly Network will be integrated with bridges that enable smooth deposits/withdrawals from any layer one blockchain. Through a combination of order book efficiency and on-chain settlement, Orderly will offer market-leading execution with low latency and minimal fees.
“WOO Network is excited to be able to help facilitate the growth of the much-needed infrastructure that the Orderly team is building. Bringing deep liquidity and low-fee trading options to the NEAR blockchain by introducing DeFi protocols like WOO DEX will allow users to enjoy an efficient, permissionless trading experience while also giving builders the best possible platform and build experience to launch their products and services on,”** said Ran Yi, Chief Ecosystem Officer, WOO Network**.
With this round of financing, Orderly Network plans to focus on recruitment across all key functions, develop and enhance new and existing products, while growing the Orderly ecosystem and establishing partnerships along the way. To further enhance liquidity, Orderly Network will launch community lending pools where token holders are able to lend assets to market makers while enjoying a single-sided liquidity provision with sustainable yields.
“As part of our investment in NEAR, we strive to build exposure in the infrastructures poised to become key components in the chain’s success. With the Orderly team, we were impressed with the depth in expertise and their ability to deliver solid DeFi infrastructures, making our commitment an easy decision,” said Haseeb Qureshi, Managing Partner, Dragonfly Capital.
