NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Orderly Network is pleased to announce a new integration with Monad, the super-performant Ethereum-compatible L1 blockchain leveraging superscalar pipelining technique to revolutionize blockchain interoperability and network performance. This integration aims to supercharge onchain perps trading infrastructure for builders and users on the Monad blockchain.
Monad offers full EVM and RPC compatibility, enabling seamless porting of Ethereum applications and infrastructure use, capable of 10,000 transactions per second, 1 billion transactions per day, with 1-second block times and finality, resulting in cheaper transaction costs and enhanced user interaction.
Monad aims to redefine the Ethereum ecosystem by building a new kind of EVM. Leveraging a parallelization implementation in its architecture, it aims to superscale the EVM to deliver more efficient processing and instant block finality. By implementing optimistic parallel execution for efficiency, and developing the MonadDB state database for fast data access, the Monad blockchain is gearing up to be one of the fastest L1 in DeFi come its mainnet launch.
Monad’s announced the completion of its latest funding round led by Paradigm raising $225 million alongside other notable VCs including Coinbase Ventures, Electric Capital, GSR Ventures and more. Aimed at boosting resources and scaling its team to further the next development phase of the Monad blockchain, this integration with Orderly Network sets up Monad to effectively welcome Orderly’s omnichain expansion in the very near future.
“I'm excited that Orderly Network will be coming to Monad at launch," said Keone Hon, Cofounder/CEO of Monad Labs. "Perpetuals comprise the majority of volumes on centralized crypto exchanges, and Orderly is an important part of the push to move that volume to DEXes. Exciting times ahead!.”
Orderly Network tackles DeFi's significant liquidity issues by merging orders into a single orderbook spanning multiple chains. Acting as a permission liquidity layer for Web3 trading, it utilizes Orderly Chain to deliver deep liquidity for multiple assets across various chains, thus powering the rise of omnichain orderbook-based DEXs. Presently, Orderly Network supports six chains: Polygon, Arbitrum, Optimism, Base, Ethereum mainnet, and Mantle. Hence, this collaboration will see Orderly Network expand its liquidity layer to the Monad blockchain.
Effectively, the Monad x Orderly integration is expected to deliver:
- Super-fast Perps Trading Infrastructure for Low-latency, High-Frequency Trading.
- Efficient Onchain Settlement Capabilities
- Developer Support for Easy Integration
- Deep liquidity for multiple assets across major EVM chains with cross-chain deposit/withdrawal capabilities
Orderly will be one of the first infrastructures to integrate with Monad. This integration opens Orderly’s shared orderbook to the entire Monad ecosystem across all major EVM chains, enhancing liquidity for perpetual DEXs and providing tighter spreads and minimal slippage for traders.
“With shared expertise in building low-latency, high-frequency trading systems across both teams, this synergy between Monad and Orderly births one of the most formidable infrastructural collaborations in DeFi.” said Arjun Arora, COO, Orderly Network. ”A fusion of Monad’s innovative approach to scaling the EVM and Orderly’s position as a leading source of liquidity in DeFi will deliver a more cost-efficient, scalable, and liquid trading infrastructure suited to the next wave of DEXs to be launched on Monad".
Orderly Network is set to begin its token launch event in the coming weeks with its TGE campaign rapidly reaching its end.
About Orderly Network
Orderly Network is a permissionless liquidity layer for Web3 trading. Built on omnichain infrastructure, Orderly enables deep liquidity for any asset across multiple blockchains. Focused on a future of DeFi that’s open to all, Orderly empowers developers to fluidly create a comprehensive array of financial products for any level of trader, without the risks of wrapped asset movement through cross-chain bridging.
Learn more at orderly.network
For PR enquiries related to this release, please contact pr@orderly.network
Official Website | Twitter | Telegram | Discord | Linkedin
About Monad
Monad is a high-performance Ethereum-compatible L1 that ushers in a new paradigm of possibility through pipelined execution of Ethereum transactions. Monad's improvements address existing bottlenecks while preserving seamless compatibility for application developers (full EVM bytecode compatibility) and users (Ethereum RPC API compatibility). As a result, the rich landscape of Ethereum tooling and applied cryptography research can plug seamlessly into Monad while benefiting from improved throughput and scale.
