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Tel Aviv, Israel, July 4th, 2024, Chainwire
Layer 3 blockchain Orbs has introduced the launch of its liquidity hub on Fenix Finance. Its deployment will deepen accessible liquidity on the Blast DEX and ship better capital effectivity for customers of the L2.
Orbs Liquidity Hub operates as a layer that sits atop the Fenix Finance DEX. It attracts in extra liquidity sources that allow Fenix customers to acquire the absolute best pricing. This reduces slippage and permits customers to extract extra worth from each commerce they place.
Designed to unravel the issue of fragmented DeFi liquidity, Orbs’ resolution additionally delivers diminished transaction charges, safety in opposition to Maximal Extractable Worth (MEV), and gas-free transaction executions. Liquidity Hub integrates with the prevailing Fenix DEX interface, sustaining the consumer expertise that merchants are accustomed to.
The mixing of Orbs Liquidity Hub into Fenix marks its fifth deployment with DEXs working on EVM networks and is a primary for Blast. By merging liquidity from each on- and off-chain sources, Liquidity Hub delivers an enhanced buying and selling expertise with out introducing custodial threat.
If Orbs’ liquidity layer can’t execute the commerce at a greater value than the AMM, the transaction reverts to the AMM contract and executes as regular. This ensures that trades will probably be executed at the absolute best fee each time and frees merchants from having to manually choose their most popular liquidity route.
The introduction of Liquidity Hub to Fenix follows the completion of a $300,000 seed funding spherical for Fenix Finance led by Orbs. This funding, coupled with the deployment of Liquidity Hub, will assist Fenix’s purpose of delivering essentially the most capital environment friendly buying and selling expertise on Blast.
Greater than 5,000 customers have begun buying and selling on Fenix since its Open Beta commenced two months in the past. Throughout this time, it has generated over $150M in quantity and grown its share of the DEX market. With Orbs Liquidity Hub now deployed, Fenix is optimally positioned to roll out new merchandise that can assist to ascertain it because the preeminent protocol for Blast token buying and selling and liquidity provision.
About Orbs
Orbs is a decentralized Layer-3 (L3) blockchain infrastructure designed particularly for superior on-chain buying and selling. Orbs optimizes buying and selling with aggregated liquidity, superior buying and selling orders, and on-chain derivatives. Orbs enhances the capabilities of each EVM and non-EVM good contracts with out shifting liquidity onto a brand new chain. This considered one of a sort setup acts as a decentralized backend that brings CeFi-level execution to DeFi buying and selling.
Be taught extra: https://www.orbs.com/
About Fenix Finance
Fenix is a unified buying and selling and liquidity market for Blast. Its next-generation decentralized change offers a technologically superior and capital environment friendly buying and selling and liquidity market. Designed to offer superior UX and deeper liquidity, Fenix performs a pivotal function in catalyzing financial development on Blast.
Be taught extra: https://www.fenixfinance.io/
ContactRan Hammerhiya@orbs.com
This text was initially revealed on Chainwire