Ethereum

Solana

Orderly Network

DeFi

LayerZero

Omnichain liquidity layer Orderly Network has launched an omnichain vault on <a href="https://yellow.com/asset/sol" rel="noopener noreferrer nofollow">Solana</a>’s testnet which is a major development in the DeFi space as it will make way for a unified liquidity pool in different blockchains.
The move has the potential to change the DeFi trading scene as the new omnichain vault will let Solana users trade contracts via a shared order book. This interoperability amongst blockchains will provide alternative DeFi protocols across platforms, ultimately reducing fees and improving liquidity.
At present, Orderly Network has reached $83 billion in total trading volume in different networks like Optimism, Base, Polygon, Arbitrum, Mainnet, Ethereum and Mantle.
By selecting Solana for this <a href="https://coinmarketcap.com/community/articles/671134091e92d71dae6e8f20/" rel="noopener noreferrer nofollow">omnichain vault</a>, the company is utilizing the low-latency and high throughput capacity of Solana as they are critical for DeFi trading success, especially in a volatile crypto market. This is a timely integration, considering Solana's <a href="https://yellow.com/asset/sol" rel="noopener noreferrer nofollow">SOL</a> token soared 300% in the past three months.
Orderly Network's architecture consists of three main components:
<ul>
 <li>the asset layer for managing vaults across different chains,</li>
 <li>the engine layer housing the matching engine for the unified order book,</li>
 <li>the settlement layer functioning as an L2 rollup for trade execution and settlement.</li>
</ul>
Using this structure Orderly Network ensures that crypto users retain custody of their funds and it also makes the system more transparent. This addresses the major issues found in centralized crypto exchanges.
The DeFi sector has been growing rapidly, with the total value locked (TVL) in DeFi protocols reaching $46.83 billion as of October 2023. Orderly Network's innovation comes at a time when the DeFi market is seeking more efficient, cross-chain solutions to enhance liquidity and reduce fragmentation.
Crypto Analyst Ryan Watkins echoed the same sentiment when he tweeted that the new omnichain vault on Solana has the potential to “ significantly reduce liquidity fragmentation across chains". Similar cross-chain solutions in the DeFi space include LayerZero and Chainlink's Cross-Chain Interoperability Protocol (CCIP).
The success of Orderly Network's omnichain vault could signal a new era in DeFi trading, potentially transforming how liquidity is managed and accessed across different blockchain networks.

Orderly Network's Omnichain Vault on Solana Testnet To Make Way for A Unified Liquidity Pool

Yellow News

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