The first bell of November marked a unique milestone for us at Orderly Network — we announced the Orderly Omnichain on mainnet!
Orderly Omnichain represents our expansion into a broader DeFi ecosystem, starting with the birthplace of DeFi — the EVM ecosystem. We have built an order book that is accessible through all major EVM chains, bringing the many benefits of Orderly’s innovative infrastructure to EVM creators and traders.
How did we achieve this? In this article, we highlight a key component of Orderly's omnichain framework.
Explore the Orderly Settlement Layer
The Orderly Settlement Layer is an app-chain built on the OP stack that sits between the Asset Layer and Engine Layer in the Orderly EVM architecture. Orderly’s Settlement Layer serves as a ledger for all transaction data, user data balances, and trade data received from the Engine Layer — all stored on-chain for transparency.
Essentially, trade execution happens off-chain for optimal performance, settlement happens on-chain for transparency. Check out the Orderly Chain Block Explorer
There are three major layers at the core of the Orderly Omnichain architecture:
Asset Layer — This is located on each chain that the Orderly Network supports in the EVM ecosystem.
Users use this layer to register their accounts, make deposits, or withdrawals from their wallets.
Settlement Layer — This layer resides on the same chain and powers all cross-chain messaging functions.
Users are not directly concerned with it and it is used only as a transaction ledger.
Engine Layer — This layer powers the order book and order related services on the Orderly Network.
Users deal with this when managing orders, trades, and transactions. Settling all orders on-chain, Orderly’s settlement layer sends/receives deposit/withdrawal instructions from the Engine layer and updates users’ on-chain balances. The settlement layer then sends/receives these instructions from the Asset layer — all these communications are powered by LayerZero.
In summary, your funds never actually move. Only messages are sent between different chains, with all relevant data transparently recorded on-chain, verifiable by anyone.
Advantages of OP Stack
The key advantage of the OP stack is that it enables integration and convergence between different Layer 2 chains. This is because all OP chains have the same security and communication layers, and are all built from the same standardized technology stack. This means that users can manage their assets and data across different OP chains without switching networks or using bridges. This means that applications are able to automatically communicate between different OP chains without any loss of functionality or performance.
Orderly's omnichain efforts aim to unify the order book across a single order while providing the optimal trading experience. Orderly achieves this by fundamentally ensuring that trading is not only fast and cost-efficient, but also end-to-end security. The OP Stack provides the organization and modularity needed to achieve security, excellent speed, and affordable execution costs.
What's next? The future is modular.
Currently, we are developing a new SDK that includes improved features and new API documentation for institutional traders. This SDK will align a seamless and robust trading experience for builders with the infrastructure, allowing for faster integration.
Additionally, we are restructuring our API documentation. The new API documentation is designed to make it easier for developers and institutional traders to understand and implement their needs. This allows for faster integration and means more time for developers to focus on creating innovative solutions for traders.
Expanding our Omnichain order book
We have taken significant steps to make our omnichain order book not only operational, but also scalable on the EVM mainnet. Next, we intend to expand our reach with other major EVM chains such as Optimism, Base, Polygon, Linea, Scroll, and more.
This expansion is planned to allow us to cover a broader spectrum of the DeFi ecosystem and make Orderly's best-in-class trading infrastructure accessible to more users and creators.
The journey to Omnichain mainnet so far
Since the launch of the Orderly Omnichain testnet, the numbers have been positive showing the response and trust in our network. The testnet has seen extensive testing by several projects such as WOOFi — the decentralized arm of WOO — all of which have contributed to the robustness of our platform and its readiness for mainnet operations.
As we celebrate these milestones, we recognize that the journey ahead is full of opportunities and challenges. Our dedication to security, user experience, and transparency.
