Orderly Network has recently revealed its latest venture, expanding its omnichain services to the Mantle Network. The Mantle Network is renowned for incorporating Ethereum’s Virtual Machine (EVM) compatible scalable modular Layer 2 (L2) solution, promising enhanced trading experiences for traders, protocols, and developers within the Mantle ecosystem.
The announcement came through a tweet from Orderly Network, marking their arrival on @0xMantle. This new development allows traders on Mantle to access Orderly-powered perpetuals, providing deep liquidity sources for decentralized perps with centralized exchange (CEX) like execution and gas-less trading capabilities.
In a remarkable surge, the number of Mantle $MNT holders has reached a record high of 1.66 million, accompanied by a staggering 280% increase in native total value locked (TVL) on-chain over the last four months. Concurrently, $mETH has seen a significant rise from $366 million to $1.74 billion.
Through the integration of Orderly’s omnichain vaults, users on the Mantle Network can now engage in trading across multiple EVM chains. The integration enables trading through an orderbook interface on different networks, boasting high liquidity and rapid execution speeds, with all transactions expected to occur on-chain while prioritizing safety, similar to centralized exchanges (CEXs).
One of the distinguishing features of this development is the shared liquidity model for omnichain perps trading. Orderly Network consolidates liquidity from various chains into a single orderbook, resulting in tighter spreads and reduced slippage, ultimately enhancing the efficiency of onchain perps trading. Traders also benefit from the flexibility to leverage up to 50x on different assets, while developers constructing decentralized exchanges (DEXs) can do so without concerns about liquidity.
Gabriel Gareth Foo, DeFi Growth Lead at Mantle, emphasizes the cost-effective design philosophy behind the partnership, highlighting the unprecedented access to liquidity for developers and traders through the integration of EVM and non-EVM chains. Ran Yi, excited about the comprehensive capabilities of Mantle Network and Orderly’s permissionless liquidity infrastructure, anticipates attracting both builders and traders through this integration.
Orderly Network’s core objective is to ensure accessibility to DeFi for all users, including beginners in the on-chain space. They remain dedicated to expanding their efforts beyond current achievements, introducing features like omnichain vaults in future updates, aiming to make DeFi accessible and user-friendly for everyone.