Orderly Network raises $5 million in strategic funding
Quick Take
- Orderly Network raised $5 million in strategic funding.
- OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital and Origin Protocol participated in the round.
The web3 liquidity provider Orderly Network raised $5 million in strategic funding.
OKX Ventures, Manifold Trading, Presto Labs, LTP, Nomad Capital and Origin Protocol participated in the fresh financing, according to a release shared with The Block.
Orderly Network merges orders from numerous blockchains into a unified orderbook in an attempt to solve DeFi liquidity problems. It currently supports the Ethereum mainnet, Polygon, Optimism, Base, Arbitrum and Mantle.
The platform plans to use the funds to develop new products and bolster its on-chain liquidity. In addition, Orderly is preparing for its token generation event, in which Orderly token stakers will obtain 60% of Orderly net trading fees.
"Amid market volatility, Orderly Network continues to enhance its infrastructure and maintain its growth momentum," Orderly co-founder Ran Yi said in a statement. "Our dedication to providing unchained liquidity for the Omni-DEX and the broader crypto trading ecosystem has earned us recognition and support from industry leaders."
In 2022, Orderly Network raised $20 million in funding with participation from Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures and MetaWeb.VC.
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