Orderly & Ref Finance Partner to Launch Perpertual Contracts on NEAR
In Brief
Orderly, a decentralized trading protocol and infrastructure provider, has partnered with Ref Finance to introduce perpetual contracts on NEAR.
Ref Finance is an automated market maker and decentralized exchange built on NEAR.
Orderly Network, an omnichain protocol and central limit order book (CLOB) infrastructure provider, has joined forces with Ref Finance to introduce perpetual contracts on NEAR.
Ref Finance is an automated market maker and decentralized exchange built on the NEAR blockchain.
Perpetual contracts are derivative financial instruments tailored for cryptocurrency markets. Unlike traditional spot trading, perpetual contracts enable traders to speculate on cryptocurrency price movements without owning the underlying assets.
Orderly Network claims that its advanced off-chain oracle technology ensures accurate and frequent pricing, fostering a high-frequency trading environment. Meanwhile, Ref Finance has revealed its Q3 features.
Ref’s team is preparing to release the Zap Function, aimed at simplifying liquidity provision across pools and streamlining fund allocation. Furthermore, they are responding to the growing demand for lending and borrowing by introducing new capabilities that enable users to leverage assets and generate interest.
In the next quarter, both entities intend to take their partnership further. Ref Finance aims to introduce the veTokenomic Model, which prioritizes governance and encourages sustained participation.
In addition, Orderly’s upcoming initiatives, including multi-chain Perpetual Futures and EVM capabilities, align with Ref Finance’s objective of establishing connections with other blockchain communities.
Orderly’s integration with Polygon
Alongside this news, Orderly also today announced its collaboration with Polygon. Decentralized applications (dApps) on Polygon will be integrated into a shared Central Limit Order Book (CLOB) that across blockchains, powered by Orderly’s settlement layer.
1/ANNOUNCING; our collaboration with @0xPolygonLabs
— Orderly Network (@OrderlyNetwork) September 22, 2023
Soon, Polygon dApps will integrate with a shared CLOB across blockchains, powered by Orderly's settlement layer.
Institutional-grade order book infrastructure, soon accessible to your preferred @0xPolygonLabs dApps pic.twitter.com/FniJKZSZD1
“Their launch ties in with the Polygon Labs vision for creating a settlement layer for global value exchange. The Polygon blockchain offers a robust network, and Orderly provides dApp users with a unique cross-chain experience,” Jack Melnick, DeFi Lead at Polygon Labs, said in a statement.
Orderly says that its integration with Polygon dApps offers a range of advantages. Firstly, it accepts deposits from any blockchain in a single transaction. Moreover, the shared order book creates concentrated liquidity to enhance trading efficiency. Additionally, this integration streamlines the launch of decentralized exchanges (DEXs) and facilitates the integration of perpetual contracts (Perps).
Orderly asserts that its versatility extends to both Web2 and Web3 integrations, offering cloud solutions and fiat gateways for added convenience. Lastly, it claims to deliver trading speeds similar to centralized exchanges (CEXs), ensuring a smooth and responsive user experience.
On Sep 12, Orderly announced its Omnichain protocol. This enables perpetual traders from blockchain networks including Arbitrum, Optimism, Linea, Polygon, Scroll, Avalanche and others, to engage in trading activities in a single order book.
This consolidation of trading activities is made possible through cross-chain communication facilitated by LayerZero. All settlements will be conducted on Orderly’s Settlement Layer.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
