Orderly Network, a Web3 liquidity provider, has secured $5 million in strategic funding, as indicated by the latest update provided to Finbold on August 16.
The capital comes from several notable players, including OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital, and Origin Protocol.
Solving DeFi liquidity issues
Orderly Network aims to tackle liquidity issues in decentralized finance (DeFi) by consolidating orders from various blockchains into a single orderbook.
Currently, the platform supports Ethereum (ETH) mainnet, Polygon (MATIC), Optimism (OP), Base, Arbitrum, and Mantle.
The new funds will help Orderly Network develop new products and strengthen on-chain liquidity, as well as prepare for the upcoming token generation event, where token stakers will receive 60% of the platform’s net trading fees.
Ran Yi, Orderly Network co-founder, commented on the platform’s dedication to “unchained liquidity,” stating:
“Amid market volatility, Orderly Network continues to enhance its infrastructure and maintain its growth momentum. Our dedication to providing unchained liquidity for the Omni-DEX and the broader crypto trading ecosystem has earned us recognition and support from industry leaders.”
This latest funding round follows Orderly’s 2022 raise of $20 million, which saw participation from big names like Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb.VC.
Source: https://finbold.com/orderly-network-secures-5-million-in-a-new-strategic-funding-round/