Author: Paul Veradittakit, Partner at Pantera Capital; Translation: Golden Finance xiaozou
1. Background
Centralized exchanges (CEXs) such as Coinbase, Binance, and Kraken have thrived as the go-to choice for cryptocurrency traders for much of our industry’s history. Users are drawn to these products primarily because of their strong liquidity and compelling user experience (UX) — a major pain point that decentralized exchange (DEX) applications are well-known to address.
But what if there was a trading venue that combined the speed and liquidity of CEX with the transparency, sovereignty, and settlement of decentralized finance (DeFi)?
This is the core idea of Orderly Network.
Orderly Network is building a trading infrastructure that aggregates liquidity to solve the historical problems of early DeFi applications. Orderly has created an efficient and reliable trading ecosystem with better price discovery, lower slippage, deeper liquidity, and execution speed comparable to CEX, while maintaining the advantages of DeFi.
2. Introduction
Orderly is an L2 solution that provides:
Order book-based trading: Similar to CEX, Orderly uses an order book to match buyers and sellers, ensuring smooth and efficient transactions.
Full-chain liquidity: Orderly aggregates liquidity from various blockchains, providing a wider asset pool and smaller spreads.
High-Speed Execution: Orderly prioritizes fast trade execution, minimizing delays and friction.
Orderly uses a unified order book; users trade on different chains but in the same order book, eliminating the need for a bridge.
Orderly itself plays an important role in improving the overall efficiency and reliability of DeFi transactions, quickly becoming one of the largest sources of liquidity for permissionless Web3 transactions.
3. Major achievements and impacts
Orderly Network has already made a huge wave in the DeFi space:
Total transaction volume exceeds US$50 billion
Integrate six major blockchains (Arbitrum, Optimism, Polygon, Base, etc.)
Total locked value (TVL) exceeds $56 million
Over 215,000 unique address wallet user base
4. The future of DeFi transactions
With its innovative infrastructure and strong partnerships, Orderly Network is poised to become a major player in future DeFi transactions.
The following points make them stand out from existing competitors:
Cross-chain capabilities: Orderly supports seamless transactions across different blockchains, giving users more choices.
Orderly on-chain settlement: All transactions are settled on a secure, dedicated blockchain, ensuring transparency and finality.
Support for DeFi projects: Orderly provides institutional-grade liquidity for DeFi projects for spot trading and perpetual contract trading.
Their collaborative ecosystems include WOOFi, LayerZero, NEAR, Optimism, Arbitrum, Base, Elixir, Polygon, etc.
