Coinspeaker Orderly Network Announces New TGE Schedule, Airdrop Claims to Begin on August 26
Orderly Network has announced a revised timeline for its Token Gemeration Event (TGE). Airdrop claims will begin on August 26, 2024, at 8:00 AM UTC, followed by centralized exchange (CEX) listings.
New TGE Timeline and Airdrop Details
Orderly Network shared the updated TGE schedule via Twitter, revealing that airdrop claims will go live on the Ethereum mainnet (ERC20). Following the airdrop claims, Orderly Network’s native token ORDER will be listed on various CEXs starting at 10:00 AM UTC.
In addition to the TGE activities, the platform also announced that emissions for VALOR, the token generated by staking ORDER, alongside trading and market-making rewards, will commence on August 27 at midnight UTC. This series of events marks a significant step for Orderly Network as it expands its reach and integrates more participants into its Decentralized Finance (DeFi) ecosystem.
Tokenomics and Utility of ORDER
The ORDER token plays a central role in the Orderly Network ecosystem, designed to ensure decentralization, support network growth, and incentivize user engagement. The tokenomics of ORDER are structured to align the interests of various stakeholders, including market makers, traders, and developers, enabling a balanced and sustainable ecosystem.
Key utilities of the ORDER token include governance rights, where staking ORDER allows holders to participate in decision-making processes. Additionally, ORDER tokens can boost trading and market-making rewards for active participants, creating further incentives for liquidity provision and engagement within the network.
The token features a capped supply of 1 billion tokens, split across multiple categories: 55% is allocated to the community, 15% to strategic investors, 20% to teams and advisors, and 10% to the foundation for ecosystem development and liquidity provision on exchanges. Out of the 55% of the ORDER tokens allocated to the community, early supporters, including those who participate in the airdrop, will receive 13.3%.
What Is Orderly Network?
Orderly Network is a permissionless liquidity layer focused on developing tools for Web3 trading. The platform addresses liquidity challenges in DeFi by offering a unified trading orderbook that spans multiple blockchains. This system, which leverages Orderly Chain and LayerZero technology, acts as a liquidity cloud, enabling efficient cross-chain trading.
Orderly Network supports the rapid deployment of advanced omnichain trading applications through a comprehensive Software Development Kit (SDK). This toolkit allows Web3 teams to quickly build and launch sophisticated trading apps, enhancing the ecosystem’s overall functionality.
The platform has attracted significant investment, recently securing an additional $5 million in a strategic funding round supported by OKX Ventures, Manifold Trading, and others, bringing its valuation to over $200 million. The news of Orderly Network’s upcoming airdrop has been met with significant anticipation within the DeFi community.
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Orderly Network Announces New TGE Schedule, Airdrop Claims to Begin on August 26