Web3 liquidity provider Orderly Network raises $5 million in strategic funding.
According to a press release shared by The Block, OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital, and Origin Protocol participated in the new funding round.
Orderly Network merges orders from multiple blockchains into a unified orderbook to solve the DeFi liquidity problem. It currently supports Ethereum mainnet, Polygon, Optimism, Base, Arbitrum, and Mantle.
platform We plan to use the funds to develop new products and enhance on-chain liquidity. Orderly is also preparing a token generation event, where Orderly token stakers will earn 60% of Orderly’s net trading fees.
“Even amidst market volatility, Orderly Network continues to improve its infrastructure and maintain growth momentum,” Orderly Co-Founder Ran Yi said in a statement. “Our commitment to providing unchained liquidity to Omni-DEX and the broader cryptocurrency trading ecosystem has earned us recognition and support from industry leaders.”
In 2022, Orderly Network raised $20 million in funding with participation from Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb.VC.
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About the Author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.