Orderly Network has concluded its highly anticipated World Series of Trading (WSOT) X Crypto Championships, naming @lBattleRhino as the champion. This landmark trading competition, which spanned four intense weeks from its launch on July 15, brought together 12 of the most elite traders on 𝕏, all vying for the prestigious title and substantial rewards.
WSOT starts today Who gets liquidated first? @satsdart@ByzGeneral@Timeless_Crypto@theo_crypto99@CL207@zhusu@nanixbt@lbattlerhino@DefiSquared@gametheorizing@izebel_eth@thiccyth0t pic.twitter.com/WwaWHIY1i5
— Orderly Network (@OrderlyNetwork) July 15, 2024
A Showcase of Elite Trading Talent
The WSOT X Crypto Championships was not just another trading competition; it was a battle of wits, strategy, and skill among some of the most renowned traders in the crypto space. Participants included industry heavyweights such as @DeFiSquared, @CL207, @theo_crypto99, @izebel_eth, @satsdart, @thiccyth0t, @Timeless_Crypto, @lBattleRhino, @naniXBT, @gametheorizing, @zhusu, and @ByzGeneral.
Each trader began with a modest collateral of $10,000, hosted across a selection of Orderly-powered decentralized exchanges (DEXs) including WOOFi Pro, IBX, LogX Pro, VOOI, and OXMarkets. Throughout the competition, these traders navigated through volatile market conditions, demonstrating their prowess in a variety of trading strategies.
The four-week event was structured around a points system reminiscent of Formula 1 racing, where traders earned points based on their weekly leaderboard positions. This format encouraged consistent performance and creative trading approaches, ensuring that the competition remained unpredictable and thrilling for both participants and spectators.
Victory Amidst Volatility
After four weeks of intense competition, @lBattleRhino emerged victorious, claiming the grand prize of $100,000 in USDC. The runner-up, @gametheorizing, secured second place and a prize of $50,000, while @satsdart took third place with a reward of $25,000. The competition was not without its dramatic moments, including the early liquidation of popular trader @thiccyth0t in the first week, who was eliminated while shorting $WLD on VOOI.
Weeks two and three brought more surprises as the markets remained unpredictable. Despite the market turbulence, Orderly Network’s top-of-book liquidity held strong, with 24-hour trading volumes surpassing $1.5 billion during this period. However, even this robust liquidity could not save some of the traders, including Jordi Alexander (@gametheorizing), who led the leaderboard in week two but faced challenges in the subsequent rounds.
Reflecting on the competition, Alexander, the Founder and CEO of Selini Capital, shared his thoughts: “Competitions are always fun and involve a lot of game theory – the trading competition has not been just about trading well but also trying to consider opponents’ trades and staying ahead of them, which is even more strategic.”
A Triumph for Orderly Network
The WSOT X Crypto Championships not only showcased the talents of the participating traders but also highlighted the strength and versatility of Orderly Network’s infrastructure. @AltcoinSherpa, a popular retail trader and official commentator for WSOT, praised the competition’s success, stating, “The current WSOT is fantastic. I think that this competition has been a rousing success; mostly in part because we have so many great traders in it. I think it also really highlights the great benefits of Orderly overall and how versatile it is. Traders are trading on many different dexes and they’re all powered by Orderly.”
Ran Yi, Co-Founder of Orderly Network, expressed his gratitude and enthusiasm for the event’s success: “We are extremely grateful to every trader who participated in WSOT, as well as those who helped make it happen. WSOT 1.0 was an exciting and rewarding experience for everyone involved. It not only showcased the strength of our infrastructure but also provided invaluable feedback from top traders that will help us improve Orderly even further. If you thought WSOT 1.0 was impressive, just wait until you see what we have in store for WSOT 2.0. Stay tuned.”
Orderly Network’s Growing Influence in DeFi
The success of WSOT further solidifies Orderly Network’s position as a foundational omnichain service layer in the DeFi space. According to Dune Analytics, the network has already earned over $8 million in net fees, excluding the share generated by builders operating on the protocol. For holders and stakers of $ORDER, 60% of new net fees will continue to accrue to them, with potential future increases.
Orderly Network’s permissionless liquidity layer is designed to support Web3 trading with deep liquidity across multiple blockchains. Its omnichain infrastructure enables the creation of a wide range of financial products, catering to traders at all levels without the risks associated with wrapped asset movement through cross-chain bridging. As the DeFi space continues to grow, Orderly Network is poised to play a key role in shaping its future, offering a robust and flexible platform for the next generation of decentralized trading.
With the conclusion of WSOT 1.0, the crypto community is eagerly awaiting the next iteration of this groundbreaking competition. Orderly Network has promised even more excitement and innovation in WSOT 2.0, setting the stage for another epic showdown among the world’s top traders. Orderly Network’s commitment to pushing the boundaries of what’s possible in decentralized trading remains unwavering, promising a bright future for the platform and its community.