Orbiter Finance has processed over 24 million transactions with a total volume exceeding $16 billion.
Orbiter Finance, a decentralized cross-chain Layer 2 protocol, has reported that its cross-chain bridging protocol generated 20,000 ETH in revenue over the past year.
Orbiter Finance Surpasses 24M Transactions
Orbiter Finance has processed more than 24 million transactions, with a total volume exceeding $16 billion. These transactions have surpassed the cumulative earnings of other third-party cross-chain bridges.
According to the press release shared, Orbiter Bridge operates on a highly profitable revenue generation mechanism known as the Maker system, making it the most profitable cross-chain bridge protocol in the industry.
The Maker system has previously functioned as a centralized liquidity provider. This revenue figure sets Orbiter apart from its competitors. For context, Base, another prominent cross-chain bridge, reported $39.075 million in revenue during the same period.
However, Orbiter’s substantial earnings are indicative of its growing influence in the DeFi sector and competitive advantage. The Orbiter Bridge improves the efficiency of cross-chaining between numerous L2s and the ETH mainnet, as well as addressing the limitations of traditional bridges, such as speed.
Future Plans using Zk Technology
Orbiter Finance is currently preparing to launch Vizing, an omni-rollup infrastructure based on zk. By enhancing interoperability across Ethereum rollups and addressing liquidity fragmentation, this forthcoming infrastructure aims to transform the blockchain experience.
Vizing will introduce features such as a unified wallet system and aggregated liquidity, further improving the protocol’s scalability and user experience. Iris Cheung, the co-founder of Orbiter Finance, stated that, “We have a clear vision of creating an omnichain future, and seamless cross-chain bridging is the first step toward achieving that goal.”
Orbiter offered instantaneous bridging, in contrast to other bridges, including Arbitrum, Optimism, and ZKsync Lite, which require a seven-day waiting period for Layer 2 transfers.”
This “trend-driven” strategy was highly effective, as we entered the market when few believed in the potential of Ethereum L2s. The Orbiter team is currently concentrating on decentralization of this system to facilitate access for third-party liquidity providers.
A strategic investment from OKX Ventures earlier this year further reinforces the protocol’s dedication to decentralization. Tiger Global, Mirana Ventures, Skyland Ventures, Mask Network, Redpoint Ventures China, and Hash Global have secured a Series A funding round for the company.
