Orbs Launches Perpetual Hub, Offering Intent-Based On-chain Futures Solution In Collaboration With SYMMIO And IntentX
In Brief
Orbs launched the Perpetual Hub, providing a comprehensive solution for on-chain perpetual futures trading.
Layer 3 liquidity protocol Orbs announced the launch of the Perpetual Hub, offering a comprehensive solution for perpetual futures trading on-chain. The hub provides a comprehensive range of tools designed to enable traders to maximize the value extracted from on-chain perpetuals through an intent-based model.
Developed in partnership with decentralized derivatives protocol SYMMIO and over-the-counter (OTC) derivatives exchange IntentX, the Perpetual Hub leverages Orbs’ Layer 3 technology to provide traders with the necessary tools for on-chain perpetual futures trading, facilitating execution levels comparable to those found in centralized finance (CeFi).
“This launch opens a door that has previously served as a blocker for people in blockchain. Perpetual futures are significantly more popular than spot trading, and we now offer the best solution for perpetual traders on-chain,” said Ran Hammer, VP of Business Development at Orbs. “We’re eager to continue fostering our reputation as lead experts in DeFi and Web3, helping bring the world on-chain,” he added.
The Perpetual Hub consists of three main components: Hedger, Liquidator, and Price Oracle. Hedger functions as a market maker utilizing a SYMM-powered front end, offering liquidity by fulfilling user orders. Serving as the counterparty to trades, Hedger has the capability to utilize external liquidity sources, such as centralized exchanges, to provide extensive liquidity. The second component, the Liquidator, enables individuals to liquidate a trader’s position if the collateral value falls below the maintenance margin threshold. Liquidators may receive a liquidation fee as compensation for offering this service.
Meanwhile, the third component, Price Oracle, furnishes reliable on- and off-chain data to ensure precise pricing, a crucial aspect for perpetuals trading. Price oracles play a vital role in delivering uPnL (unrealized profit and loss) for accounts, detecting liquidations, and facilitating accurate order execution. A reliable and resilient price oracle that is fully decentralized is indispensable for the seamless operation of the core functions within Perpetual Hub.
All three software solutions harness the capabilities of the decentralized Orbs Network, incorporating its Guardians and Proof-of-Stake (PoS) ecosystem. This enables platforms, market participants, and other third parties to offer and manage a range of decentralized services for perpetual futures trading.
Orbs: What Is It?
Orbs is a decentralized Layer 3 blockchain infrastructure crafted to facilitate advanced on-chain trading. It brings CeFi-level execution to decentralized finance (DeFi) to streamline trading with aggregated liquidity, advanced trading orders, and on-chain derivatives.
Recently, the project has integrated its dLimit and dTWA protocols into the multichain decentralized exchange (DEX) PancakeSwap, providing its traders with access to order types. This integration allows traders to ensure the price of their orders or split large orders into smaller trades. This milestone follows successful integrations of the project with other DEXs, such as QuickSwap, SpookySwap, and Thena, among others.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
