Orderly

Founded in April 2022, Orderly offers a permissionless, decentralized exchange (DEX). Built on the NEAR protocol, it provides users with a risk engine, matching engine, and asset pools for users to build decentralized applications for trading. The platform enables users to spot and margin trade, perform perpetual swaps as well as lend and borrow cryptocurrencies. The company launched on the NEAR mainnet in October 2022 and had plans to release new features such as an on-chain order-book, community pool, and swap functionality, as of the same date.

Key partnerships and customers

The development of the platform was supported by NEAR and WOO Network (a DeFi liquidity solution), which also incidentally launched its DEX on the protocol. WOO DEX was the first dApp to be launched on Orderly Network, later becoming the platform’s main interface for trading tools. The protocol also partnered with Kronos Research, a DeFi market-maker, to access liquidity. The platform went on to partner with Google Cloud to co-develop user-centric developer tools for DeFi applications in September 2023. Functioning as off-chain components of DeFi infrastructure, these tools will enable specific interactions to be processed away from the main blockchain while others are carried out on-chain. The partnership also saw Orderly becoming a listed DeFi infrastructure provider on Google Cloud Marketplace.

Funding and financials

In June 2022, Orderly Network raised USD 20 million in funding from Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, and Alameda Research, among several others. The company earmarked the funds to expand its employee base, invest in product development, and establish new ecosystem partnerships. It also stated that the funding will enable it to launch new community lending pools for token holders.