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Jun 06, 2024
Prime Protocol Integrates with Orderly Network to Launch Revolutionary Omnichain Perpetuals Trading
by Orderly Network
Prime Protocol Integrates with Orderly Network to Launch Revolutionary Omnichain Perpetuals Trading

Orderly Network is thrilled to announce its partnership with Prime Protocol, the first natively cross-chain prime brokerage in Web3. Backed by the infrastructure of Orderly Network, Prime Protocol is set to launch a perpetual orderbook DEX on Orderly, introducing an omnichain trading experience to its thriving ecosystem.

Prime Protocol is a cross-chain prime brokerage that allows users to make deposits and borrow funds against the value of their entire portfolio of assets across numerous chains. It boasts over $10.71 million in TVL across nine blockchain networks. The integration with Orderly Network empowers Prime Protocol users to trade without the need for bridging or wrapped assets, while ensuring self-custody.

Leveraging Orderly’s infrastructure, Prime Protocol’s DEX can provide:

  • Omnichain Perps Trading with High Leverage: Users can now trade perps with up to 50x leverage across multiple blockchain networks, without the need for bridging or wrapped assets. This capability allows users to deposit their assets, open positions, and withdraw their assets on any chain supported by Orderly , creating a truly omnichain perpetual trading experience.
  • Tighter Spreads and Deeper Liquidity: By leveraging Orderly’s shared liquidity model across multiple chains, Prime Protocol will directly benefit from one of the deepest liquidity sources in DeFi. With our shared orderbook regularly exceeding $1 billion in daily trading volume, Orderly will be contributing immensely to the existing liquidity on Prime Protocol, further enhancing capital efficiency for traders.
  • CEX-level Execution Speeds: Orderly’s infrastructure optimizes for low-latency, high-throughputs, suitable for advanced and high-frequency trading (HFT) strategies, matching the execution speeds typically associated with CEXs.
  • Simplified Integrated Interface: Prime protocol’s orderbook-based DEX will feature a highly responsive, intuitive, and simplified interface catering to both newbies and professional traders alike.
  • Earn DEEDs with Orderly Quantum: Orderly recently launched our first user-facing product - Quantum, powered by Elixir. Users on Prime protocol can now earn DEEDs by supplying liquidity directly to any trading pair on Orderly, acting as an AMM equivalent for orderbooks.

By integrating Orderly’s omnichain infrastructure, Prime Protocol can now offer an omnichain perp DEX that also allows user trade across major blockchain networks, including Arbitrum, Optimism, Base, and Mantle, without any liquidity constraints and self-custody maintained. Liquidity on Orderly is omnichain and remains consistent, no matter where you trade. Prime Protocol will feature deep liquidity from the moment it launches, as orders from all Orderly supported chains are concentrated in a single shared orderbook and all others settled onchain, enabling an efficient, secure, and transparent trading experience

“Prime Protocol and Orderly have a powerful, unique synergy. By creating a DEX powered by Orderly, we are making a statement about our plans to cover the broader gradient of leverage. We are excited about this partnership, and expect to provide more utility to both Prime and Orderly communities soon.” - Neeraj Kohirkar, CEO, Prime Protocol

Orderly’s DEX will also offer traders on Prime Protocol up to 50x leverage across a wide range of assets with liquidity converged into the same orderbook, making for tighter spreads, reduced slippage, and an all-around capital efficiency without compromising on self-custody and transparency.

Arjun Arora, COO, Orderly Network, expressed his enthusiasm about the partnership:

“Prime Protocol has consistently led the charge in advancing cross-chain DeFi solutions. Merging our advanced omnichain infrastructure with Prime Protocol's drive for innovative cross-chain solutions fills us with anticipation. We are thrilled to contribute to the enhancement of trading efficiency, liquidity, and user experience for their upcoming perp DEX launch on Orderly.”

All systems operational.
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