Orderly Network Weekly Report: Trading volume exceeds $63.5 billion, and points activity provides 1.9 million Merits

Orderly Network was founded in April 2022 and is incubated by NEAR and WOO Network. The platform uses an order book-based trading mechanism, combined with cross-chain liquidity and fast execution capabilities, to minimize transaction latency. Orderly Network combines the trading speed and liquidity advantages of centralized exchanges while maintaining the transparency, decentralization and instant settlement functions of decentralized finance.

Orderly Network is committed to building a decentralized market infrastructure that optimizes order execution on top of the full-chain infrastructure. It currently covers six networks including Ethereum, Arbitrum, Optimism, Polygon, Base and Mantle. According to statistics, Orderly Network's cumulative trading volume has now reached 63.5 billion US dollars. In addition, the platform's cumulative net fee income has reached 6.7 million US dollars.

New Contract Trading Listed

Orderly Network announced on its Twitter account on July 2 that BLAST Contract Trading has been successfully launched on the DEX supported by Orderly, and has opened up a leverage trading function of up to 10 times. Orderly Network also listed its EVM builders, including AscendEX, LogX Pro, Woofi, etc., a total of 16 builders.

IBX Summer Trading Competition

Orderly Network and IBX jointly launched the "IBX Summer Trading Competition", providing participants with a total prize pool of up to 30,000 USDC. In addition, the top 10 outstanding traders in the competition will also enjoy an additional 2,000 USDC reward.

Merits Points Activity

The 13th cycle of Merits Points Activity ended on July 4th, with a total of 69,102 traders participating in this cycle of competition. This cycle is also the last activity to issue 2 million Metrits.

Currently, the 14th cycle of Merits Points Activity has begun and will end on July 11th. This period provides traders with 1.9 million Merits, and it will decrease in the next cycle.

Orderly Network received a $20 million Series A funding round in June 2022 from Three Arrows Capital, Sequoia China, Pantera Capital, Dragonfly Capital, Jump Crypto, Seven X Ventures, IOSG Ventures, Alameda Research, GSR Ventures and MetaWeb.VC.

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