Orbs, a layer-3 liquidity protocol, has launched its Perpetual Hub to enhance the on-chain futures experience for leverage traders in collaboration with SYMMIO and IntentX.
Defi perpetual futures providers typically use an order book as a liquidity mechanism to facilitate token swaps and bootstrap trading. While this method has allowed investors to participate in decentralized perpetuals, many industry experts argue that it lacks capital efficiency for the $3.4 billion locked in on-chain derivatives, according to DefiLlama.
Defi derivatives TVL | Source: DefiLlama
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Orbs perpetual hub
To address this issue, Orbs introduced an intent-based Perpetual Hub offering a comprehensive suit of on-chain solutions called Hedger, Liquidator, and Price Oracle.
Hedger leverages SYMMIO’s front end for aggregated liquidity, acting as a counterparty able to draw resources from external capital corridors like Binance and other centralized exchanges.
Liquidator allows individuals to earn fees for contributing to margin threshold maintenance by closing traders’ positions. Price Oracle provides a decentralized pricing terminal to monitor unrealized profit and loss.
Orbs VP of business development, Ran Hammer, said the Perpetual Hub launch “opens a door that has previously served as a blocker” for blockchain participants who are increasingly more interested in on-chain futures trading.
Our powerhouse partner @orbs_network just launched their new product, the Perpetual Hub!This end-to-end solution is designed to drive forward the intent-based future of on-chain derivatives trading.Slowly then suddenly. https://t.co/2GhKmBXyy1
— SYMMIO (@symm_io) May 30, 2024
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