Coinspeaker Orbs Unveils Perpetual Hub to Revolutionize On-chain Futures Market
Layer-3 (L3) blockchain infrastructure Orbs has recently unveiled Perpetual Hub as it looks to revolutionize the on-chain futures market through an intent-based approach. According to a release shared with Coinspeaker, Orbs Perpetual Hub is designed to offer a range of resources that will empower traders to maximize the benefits on-chain perpetual trading has to offer.
Benefits of Orbs Perpetual Hub Launch
This new hub is set to operate seamlessly with collaboration from SYMMIO and IntentX. The Perpetual Hub is considered a significant step forward in the evolution of Decentralized Finance (DeFi). The advanced blockchain technology offered by Orbs enables the execution of on-chain futures within a dependable and sophisticated framework.
In the meantime, Perpetual Hub services consist of three components: Hedger, Liquidator, and Price Oracle. Hedger acts as a market maker using a front end powered by SYMM and offers liquidity by fulfilling users’ orders. Additionally, Hedger can tap into external liquidity sources, such as centralized exchanges, to provide exceptional liquidity.
The Liquidator as the second component, allows users to close out a trader’s position if the value of the collateral falls below the maintenance margin threshold. The Price Oracle supplies dependable on and off-chain data to guarantee precise pricing which is crucial for continuous trading. It is important to note that a completely decentralized Price Oracle is necessary for the fundamental operations of the Perpetual Hub to function seamlessly.
Also, Perpetual Hub can enhance perpetual future trading, from pricing to order execution. This helps in increasing trust in the on-chain perps market while growing the Total Value Locked (TVL) in on-chain derivatives.
Orbs Unveils Its Latest Upgrade V4
In February, Orbs announced that Orbs V4, an upgrade to its protocol, is currently under development. According to the project, the upgrade is necessary to meet the growing demand for its project and the layer 3 technology at large. Meanwhile, the firm claimed in its announcement that V4’s designed will help focus on efficiency and robustness. This will help to cater for the upsurge that Orbs expects for the usage of its products this year.
For Orbs, the upgrade is entirely not about scaling up. It is also about staying at the forefront of the L3 infrastructure space. This sentiment was echoed by the protocol’s CEO Nadav Shemesh, who expressed his delight in “the evolution to Orbs V4”.
Recall that Orbs’s effort towards becoming an industry leader started a long time ago. The V4 upgrade is coming nearly two years after the introduction of Orbs 3.0, the project’s original L3 architecture. It is also worth mentioning that Orbs is still eyeing more upgrades. To this end, it has automated its rollout process for Guardian nodes which used to be done manually.
However, in March, software company IntentX took a bold step forward by integrating the Liquidity Hub developed by Orbs Network into its platform. With the partnership now expanding with the launch of Perpetual Hub, Orbs hopes to grow its TVL of $3.4 billion in the coming months.
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Orbs Unveils Perpetual Hub to Revolutionize On-chain Futures Market