Orderly Network raises $20 million for its DeFi infrastructure
Built on top of the NEAR Protocol, the digital exchange protocol – Orderly Network – has announced its successful completion of its strategic funding round, bringing in $20 million for its permissionless, DeFi infrastructure.
The funding round was supported through financing from Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb.VC, as well as a group of strategic partners.
As a permissionless, DEX, the Orderly Network takes on a more modular approach to its ecosystem on top of NEAR protocol. To support users, it provides an on-chain order book for a wholly transparent and secure ledger of activity on the platform, along with risk and matching engines, and shared asset pools for dApps to build on top of.
With access to these tools, it allows access to more commonly used financial instruments seen on conventional investing platforms, such as spot trading, margin trading, perpetual swaps, lending and borrowing.
With this round of financing, Orderly Network plans to focus on recruitment across all key functions, develop and enhance new and existing products, while growing the Orderly ecosystem and establishing partnerships along the way. To further enhance liquidity, Orderly Network will launch community lending pools where token holders are able to lend assets to market makers while enjoying a single-sided liquidity provision with sustainable yields.
Longer-term, Orderly Network aims to support traders with new bridges to enable easy deposits and withdrawals across a growing list of blockchain protocols. All the while, these bridges will be made available, while offering low latency and competitive fees.