Orderly Network, a permissionless, decentralized trading infrastructure built on the NEAR blockchain, has completed fundraising from Laser Digital, a crypto subsidiary of global financial services group, Nomura.
This new funding comes just a few months after announcing a separate $20 million funding round led by a group of venture capital heavyweights including Pantera Capital, Dragonfly Capital, and Sequoia China.
“Laser Digital Ventures is investing in the most innovative businesses in the digital asset ecosystem. Orderly is one of our first investments given its unique position of having access to deep liquidity and an order book matching engine that can accommodate high throughput and rate limits,” said Olivier Dang, Head of Ventures at Laser Digital.
“We are thrilled to have a reputable financial services group with the expertise of Laser Digital as an investor in Orderly. Decentralized Finance (DeFi) is rapidly evolving and Orderly Network strives to fulfil the needs of institutional clients by providing infallible access to digital assets. The seed fund is a vote of confidence that we can fulfil those requirements,” said Ran Yi, Co-Founder at Orderly Network.
Orderly Network launched its mainnet on October 11th on the NEAR blockchain. The scheduled launch powered the decentralized exchange WOOFi DEX with Orderly’s order book infrastructure, allowing pro traders access to deep liquidity. This enables traders to execute orders directly utilizing smart contracts while providing desired flexibility with order sizes and pricing.
“Our goal is to provide the most robust liquidity layer infrastructure for any dApp to utilize and build on. With the help of our incubators WOO Network and NEAR, we can leverage the knowledge and experience from both teams in order to achieve this vision,” Yi noted.
There are more and more professional traders and market makers entering the DeFi space. Automated Market Makers (AMMs) are designed for retail traders and often do not facilitate a more sophisticated trading strategy. Orderbook-style Decentralized Exchanges are in high demand, however — very few of them are currently able to provide the trading experience required.
Incubated in October last year through a joint partnership between top 10 crypto exchange WOO Network, and NEAR, a leading public layer-1 blockchain for a wide array of Decentralized Applications (dApps). Orderly Network will offer centralized finance level trading infrastructure by leveraging WOO Network’s experiences in building trading platforms and decentralized exchanges.
For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News
