Orderly Network Announces the Launch of Its $ORDER Token to Deliver a CEX-like Trading Experience on-Chain

The Orderly Network Token Generation Event (TGE) is set for August 26, 2024, marking a significant milestone for the Orderly Network.

Orderly Network, a permissionless liquidity layer for Web3 trading, announces the upcoming launch of its $ORDER token and a massive airdrop to mark the occasion.

Set to launch on August 26, 2024, the $ORDER token will serve as a key component of the Orderly Network, playing a pivotal role in the platform's decentralization, growth, and user incentive mechanisms. This launch marks another significant milestone in Orderly's journey to revolutionize DeFi trading.

To celebrate the TGE, the Orderly Network team will be hosting a grand airdrop at 8:00 AM UTC on the Ethereum main net (ERC20). A total of 100 million $ORDER tokens will be airdropped to various participants, including those who contributed to Orderly Merits, participated in social campaigns, or traded on NEAR and EVM.

Commenting on this project development, Ran Yi, Co-Founder of Orderly Network, shared his enthusiasm:

"We are incredibly excited for Orderly Network to become more community-owned as we move forward. This token launch represents a significant step in our journey, allowing us to reward our earliest supporters and engage with our growing community in new and meaningful ways. We’re thrilled to see how this next phase unfolds and to continue pushing the boundaries of DeFi trading together.”

The total supply of $ORDER tokens is capped at 1 billion. Of these tokens, 55% have been allocated to the community, including early supporter rewards through the airdrop. Additionally, 15% is allocated to strategic investors, 20% to teams and advisors, and 10% to project building, including liquidity provisions and ecosystem development.

Orderly Network combines an order-based trading infrastructure with a robust liquidity layer to offer both spot and perpetual futures order books. The platform aims to provide DeFi projects with institutional-grade liquidity, enabling seamless trading across multiple networks through order books. Furthermore, Orderly utilizes Celestia for Layerzero and modularity for cross-chain messaging.

Since its launch, Orderly Network has achieved several milestones, including recording over $80 billion in Total Trading Volume, deploying to six major blockchain networks, boasting a user base of over 290k unique wallets, and achieving more than $50 million in Total Value Locked (TVL). The Network has also forged strategic partnerships, onboarded 20 brokers, launched the Orderly Quantum Pools, their first user-facing product, and listed over 50 EVM perp symbols. Other Ordely-powered DEXs and products include Quickswap, WOOFi Pro, LogX, and Elixir.

Prior to the launch, the Orderly Team introduced “The Road to the Order” campaign, which aimed to reward active traders with “Merits” points that could be exchanged for Orderly Network tokens. This gamified initiative granted traders merits for every trade they made. At present, users can check their earned merits and claim their airdrop once $ORDER goes live.

Following the airdrop, the team behind the project plans to list the $ORDER token on several prominent exchanges, including Bybit, BItMart, Bitget, and Bitrue.

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