Orderly Network has recently announced a major expansion of its omnichain services, bringing them to the renowned Mantle Network. The Mantle Network is widely known for its integration of Ethereum’s Virtual Machine (EVM), which provides a scalable modular Layer 2 (L2) solution. This integration is expected to significantly enhance trading capabilities for traders, protocols, and developers within the Mantle ecosystem.
Orderly Network’s integration with Mantle Network marks a significant milestone for the company. Traders on Mantle can now access one of the most extensive sources of liquidity for decentralized perpetual contracts, with the execution speed and efficiency comparable to centralized exchanges (CEXs). This development allows for gas-less trading and is made possible through the utilization of Orderly-powered perpetuals.
In addition to this exciting partnership, the number of Mantle $MNT holders has reached a record high of 1.66 million. Furthermore, there has been a remarkable 280% increase in the total value locked (TVL) on the Mantle Network over the past four months alone. During this period, the value of mETH has surged from $366 million to an impressive $1.74 billion.
The integration of Orderly’s omnichain vaults with the Mantle Network enables users to trade seamlessly across multiple EVM chains. The integration facilitates trading through an orderbook interface, providing high liquidity and fast execution speeds on different networks. All transactions are expected to occur on-chain, ensuring a secure trading experience similar to that of centralized exchanges.
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. This approach enhances the efficiency of on-chain perpetuals trading. Traders can also benefit from the flexibility to leverage up to 50x on different assets, while developers building decentralized exchanges (DEXs) can do so without concerns about liquidity.
Orderly Network’s overarching goal is to make decentralized finance (DeFi) accessible to all users, including those who are new to on-chain transactions. Gabriel Gareth Foo, the DeFi Growth Lead at Mantle, emphasizes the cost-effectiveness of this partnership and the unprecedented access to liquidity it provides for developers and traders. The robust modular capabilities of the Mantle Network, combined with Orderly’s permissionless liquidity infrastructure, have generated excitement among industry experts like Ran Yi, who expect the integration to attract builders and traders.
Orderly Network remains committed to its mission of ensuring that DeFi works for everyone, regardless of their level of experience with on-chain transactions. The company plans to continue expanding its offerings beyond the current achievements, introducing additional features such as omnichain vaults in future updates.
Tags: MNT
