Monad Partners with Orderly Network to Enhance DeFi Opportunities
The Monad testnet launch promises to deliver fast, EVM-compatible trading solutions and potential airdrops for users.
Monad Partners with Orderly Network to Enhance DeFi Opportunities
The Monad testnet launch promises to deliver fast, EVM-compatible trading solutions and potential airdrops for users.
Key Highlights:
- Orderly’s network includes about 20 market makers such as Wintermute, Selini, and Riverside.
- The Monad testnet launches on Wednesday, attracting users with the possibility of airdrops.
Monad, an Ethereum Virtual Machine layer-1 blockchain, is collaborating with Orderly Network, a decentralized exchange infrastructure that supports multiple chains.
The arrival of the Monad testnet on Wednesday will provide traders with a fast EVM-compatible building site and the possibility of airdrops on the L1. Orderly’s market makers, which number around 20, include noted participants like Wintermute, Selini, and Riverside.
Firms involved in decentralized trading, including major platforms like Coinbase, are anticipating a surge of DeFi activity in the coming months, particularly as the pro-crypto administration of President Trump appears to favor such moves. The first DeFi summer, which occurred in 2020, came soon after the Federal Reserve enacted interest rate cuts in response to Covid.
Orderly has developed a shared order book that spans multiple blockchains, including Arbitrum, Optimism, Polygon, Base, Mantle, and Near.
“Orderly is an omni-chain trading infrastructure aimed at resolving fragmented liquidity,” said Arjun Arora, Chief Operating Officer. “As more chains continue to emerge, liquidity becomes increasingly fragmented across the DeFi landscape.”
In April 2024, Monad Labs raised $225 million in a funding round led by Paradigm.
