Orderly Network has recently revealed a groundbreaking expansion that will bring its omnichain services to the well-known Mantle Network. This network is renowned for its Ethereum Virtual Machine (EVM) compatible scalable modular Layer 2 (L2) solution, promising to enhance trading experiences for traders, protocols, and developers within the Mantle ecosystem.
The announcement, shared on Twitter by Orderly Network, highlights the arrival of Orderly on @0xMantle. This development unlocks the potential of Orderly-powered perpetuals on Mantle, offering traders access to deep liquidity sources for decentralized perpetuals with centralized exchange (CEX) like execution and gas-less trading.
Furthermore, the number of Mantle $MNT holders has reached a record high of 1.66 million, accompanied by a remarkable 280% surge in native total value locked (TVL) on-chain over the past four months. The integration with Orderly’s omnichain vaults enables Mantle Network users to trade across multiple EVM chains, facilitating trading through an orderbook interface with high liquidity and fast execution speeds. Despite all transactions occurring on-chain, the setup aims to provide a secure experience similar to centralized exchanges (CEXs).
One of the key features of this development is the shared liquidity model for omnichain perpetuals trading. Orderly Network consolidates liquidity from various chains into a single orderbook, resulting in tighter spreads and reduced slippage, enhancing the efficiency of on-chain perpetuals trading. Traders can leverage up to 50x on different assets, while developers building decentralized exchanges (DEXs) can do so without concerns about liquidity.
Gabriel Gareth Foo, the DeFi Growth Lead at Mantle, emphasizes the cost-effective design philosophy behind the partnership, which combines EVM and non-EVM chains for unprecedented liquidity access for developers and traders. The integration of Mantle Network’s robust modular capabilities with Orderly’s permissionless liquidity infrastructure has generated excitement from Ran Yi, who anticipates attracting builders and traders through this collaboration.
Orderly Network’s ultimate goal is to ensure that DeFi is accessible to all users, including beginners in the space. They remain dedicated to expanding their efforts beyond current achievements, with plans to introduce additional features such as omnichain vaults in future updates to further enhance the DeFi experience for all users.