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Overview

Stake $ORDER or esORDER to earn rewards. Enjoy a seamless omnichain experience with the flexibility to stake, unstake, vest, and claim rewards across the wide variety of blockchain networks supported by Orderly.

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Staking Interface

Access the Orderly App and connect to your wallet to view your staking portfolio. Orderly Preview Light The Orderly App’s staking page allows users to:
  • Stake $ORDER
  • Unstake $ORDER
  • Vest esORDER for $ORDER
  • Redeem VALOR and claim $USDC rewards (legacy system)
  • Redeem VALOR and claim esORDER rewards for staking under the new system (effective November 4, 2025, 0:00 UTC)
Apart from the user’s $ORDER wallet balance, all staking information is chain-agnostic - consistent across all blockchain networks for a given EVM address.

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Stake $ORDER

  1. Users can view their $ORDER wallet balance after connecting their wallet to the chosen blockchain network.
  2. Click “Stake” or “Stake now” and specify the desired amount of $ORDER to stake.
  3. Upon successful onchain transaction, the $ORDER wallet balance will decrease, and the staked $ORDER balance will increase.
  4. Users will begin earning VALOR immediately.

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Unstake $ORDER

  1. Click “Unstake” and enter the desired amount to request unstaking $ORDER.
  2. Upon successful onchain transaction, the unstaking $ORDER will enter a 7-day unstaking period. During this time, the unstaking $ORDER will not accrue VALOR but any previously accrued VALOR will remain unaffected.
  3. Users can only have one active unstaking request at a time. If a new request is made while another is pending, the new amount will be added to the existing request. The entire unstaking amount will then be subject to a new 7-day availability period, starting from the time of the latest request. For example, if a user has 1,000 $ORDER unstaking with 5 days remaining, and then requests to unstake an additional 500 $ORDER, the full 1,500 $ORDER will become available in 7 days from the time of the second request.
  4. Users can cancel an unstaking request at any point during the 7-day unstaking period by clicking the “Cancel” button. This action will restake the entire unstaking amount for the user.
  5. After the 7-day period, users can claim their unstaked $ORDER to the network they are connected to on the Orderly App. For example, if a user originally staked $ORDER on the Polygon network, they have the flexibility to connect to the Optimism network to claim their unstaked $ORDER.
    • When claiming unstaked $ORDER on Ethereum, users will receive $ORDER (ERC-20).
    • When claiming unstaked $ORDER on all other blockchain networks, users will receive $ORDER (OFT).

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VALOR

VALOR is a non-transferable metric, not a token, that measures a user’s $ORDER staking position based on the amount and duration of their stake. VALOR can only be earned by staking $ORDER or esORDER. Starting 4 November 2025 0:00 UTC, VALOR will no longer accrue in the legacy system and will instead begin accruing in the new system which is linked to esORDER rewards.
  • The new treasury pool will receive 30% of Orderly’s net fees daily. These revenue inflows will be settled with an ORDER buyback at the end of each epoch. The legacy treasury pool will no longer receive new revenues.
  • VALOR accrued in the previous system remains valid and can be used to claim shares of the $USDC treasury. This legacy treasury will remain operational until all $USDC has been fully redeemed.
  • In the new system, approximately 4.13 VALOR will be distributed equally every second, based on the user’s staked portion in proportion to the total pool. Emissions in the legacy system will cease.
  • VALOR can be redeemed for either esORDER (new system) or $USDC (legacy system), depending on the system from which the VALOR was accrued. The exchange rate is determined by the current size of the protocol treasury pool and the available VALOR supply within each respective system’s pool.
  • To safeguard the interests of existing stakers, all legacy VALOR allocations will be replicated in the new system on a 1:1 basis. For instance, a user who held 1% of the legacy VALOR will automatically begin with a 1% allocation in the new VALOR system.

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Redeem VALOR

In the Reward accrual section, users have the option to redeem their VALOR in either esORDER (new system) or $USDC (legacy system), depending on the system where the VALOR was accrued.
  • The VALOR price is determined by dividing the treasury pool by the total VALOR supply within its respective system. This price represents an estimated current value of how much esORDER (for the new system) or USDC (for the legacy system) can be redeemed per VALOR. The formulas are as follows:
    • (VALOR price)New = (Treasury pool value)New ÷ (Total circulating supply of VALOR)New
    • (VALOR price)Legacy = (Treasury pool value)Legacy ÷ (Total circulating supply of VALOR)Legacy
  • With the new system taking effect on 4 November 2025, net revenue will only be added to the treasury pool in the new system. The redemption ratio in the legacy system, (VALOR price)Legacy, will remain fixed until its complete redemption.
    • The legacy treasury pool remains active until it is fully redeemed.
    • Upon launch, the treasury pool in the new system starts with $0 or 0 esORDER. Orderly will upload 30% of the protocol’s net revenue to the new treasury pool every epoch.
    • The total circulating supply of VALOR is updated each time a user interacts with the smart contract to stake/unstake.
  • Users can redeem any amount of VALOR at any time - partially or in full.
    • These transactions can be tracked under “Redeeming” or “Settlement in progress” records.
    • All VALOR redemptions within an epoch are processed at the same time on the subsequent settlement date (the end of each batch). This means that all redemptions within that epoch will settle at the same VALOR price, regardless of when individual users initiated their redemptions.
    • Once submitted, a redemption request cannot be revoked.
    • Users can submit multiple VALOR redemption requests across the same or different blockchain networks.
  • Whenever users redeem their VALOR, the redeemed amount is permanently burned, reducing the VALOR supply.
    • In the new system, VALOR redemptions will not affect the legacy system, and vice versa. Similarly, other users’ VALOR redemptions will not affect your proportional share of the treasury in either the new or legacy systems.
    • Each batch comprises a 14-day period (i.e. an epoch length). Users will see their “Redeeming” VALOR converted to “Settlement in progress” esORDER (new system) or $USDC (legacy system) at the end of each batch.
⚠️ When redeeming your VALOR, be sure to note the blockchain network you are connected to the Orderly App, as this is where your $USDC will become available for claiming. This selection cannot be changed once the transaction is executed onchain. Remember to have enough gas fees to claim your $USDC rewards once the redemption is settled.
Orderly contributes 30% of its daily net trading revenue to a new treasury, with settlements occurring each epoch. Consequently, users who hold their VALOR for extended periods before redemption will accumulate more esORDER per VALOR over time.

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Claim $USDC (legacy system)

Users holding legacy VALOR can still redeem and claim their $USDC shares from the legacy treasury pool until all $USDC has been fully redeemed.
  • The redemption process involves a 2-day waiting period after each batch concludes. Following this, users can claim their $USDC on their chosen blockchain network, as specified during redemption.
  • Once the redemption is successfully settled, the $USDC can be claimed by users at any time, without restrictions. When a user claims $USDC on a particular blockchain network, the entire available amount for that network will be claimed.

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Claim esORDER (new system)

Starting 4 November 2025 0:00 UTC, VALOR will begin accruing in the new system which is linked to esORDER rewards.
  • The redemption process involves a 7-day waiting period after each batch concludes. Following this, users can claim and stake their esORDER.
  • Upon successful redemption settlement, users can claim their esORDER at any time without restrictions. Once claimed, the esORDER will be automatically staked, and respective VALOR accrual will begin immediately.

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FAQ

  • How is staking APR calculated?
It is the protocol’s trailing 7-day average daily returns (annualized). Note that past performance does not guarantee future returns. Starting 4 November 2025 0:00 UTC, daily returns refer to the 30% of the protocol daily net revenue divided by the latest USD equivalent of total staked $ORDER and esORDER.
  • Do I earn back the VALOR that I’ve missed if I cancel my unstaking request?
VALOR is earned every second when $ORDER/esORDER is staked. Therefore, you do not retrospectively earn VALOR in the period of unstaking. However, upon the successful unstaking cancellation, you will start earning VALOR immediately.
  • Why can I stake & claim my unstaked $ORDER from a different chain?
One of Orderly’s key value propositions is to support builders across different blockchain networks. This omnichain architecture supports all our users across different blockchain networks to stake/unstake with ease, not limiting them to stake/unstake from one specific blockchain. Versatile to various use cases, this design empowers our users with the flexibility to stake from one blockchain and claim their unstaked $ORDER from another blockchain seamlessly. This omnichain design is completely optional and users can choose to complete staking and unstaking on the same blockchain.
  • What is OFT and why did Orderly decide to use it instead of just supporting an ERC-20 standard token?
The Omnichain Fungible Token (OFT) standard by LayerZero allows fungible tokens to be seamlessly transferred across multiple blockchains without asset wrapping or middlechains. OFT resonates with Orderly’s omnichain mission, enabling a multichain interoperability for users to receive their rewards and interact with Orderly with ease.