Orbs launches its liquidity hub on Fenix Finance to enhance liquidity and capital efficiency following a $300,000 seed investment.
Orbs, a pioneering Layer 3 initiative, has announced the launch of its liquidity hub on Fenix Finance. The deployment is prioritized for the purpose of increasing the depth of available liquidity on the Blast DEX and enhancing the capital efficacy of Layer 2 protocol users.
Following the conclusion of a $300,000 initial investment round for Fenix Finance, led by Orbs, this new accomplishment has been achieved.
Orbs’ strategic investment in the emergent decentralized exchange (DEX) on the Blast network represents a significant milestone for both parties. It is a testament to Orbs’ dedication to foster innovation. It also exhibits its enthusiasm for enhancing the capabilities of its state-of-the-art L3 technology within the Decentralized Finance (DeFi) ecosystem.
Ultimately, the L3 blockchain will establish itself as a dominant force in the Blast ecosystem. The investment will assist Fenix Finance in developing a platform that will revolutionize the trading experience for its consumers on the Blast network. Orbs will facilitate Fenix Finance’s objective of providing the most capital-efficient trading experience on Blast.
The Orbs Liquidity Hub is intended to function as a layer that is situated on top of the Fenix Finance DEX. In addition, it will attract additional liquidity sources that will enable Fenix users to secure the most favorable pricing. Specifically, this capability will considerably reduce slippage and enable users to extract more value from each trade they execute.
Furthermore, the Orbs solution provides gas-free transaction executions, protection against Maximal Extractable Value (MEV), and reduced transaction fees.. This Liquidity Hub is compatible with the current Fenix DEX interface. Nevertheless, the user experience that traders have become accustomed to will not be disrupted. The intent is to preserve it, as stated by the team.
This would be the fifth deployment of the Orbs Liquidity Hub with DEXs functioning on the Ethereum Virtual Machine (EVM) networks. Nevertheless, this is a first for the Blast network, as it combines liquidity from both on- and off-chain sources, thereby providing a more streamlined trading experience without introducing custodial risk.
The transaction will automatically revert to the Automated Market Maker (AMM) contract and execute as usual if Orbs’ liquidity layer is unable to execute the trade at a better price than the AMM. This guarantees that transactions are executed at the ideal rate on each occasion. Traders would not be required to designate their preferred liquidity route manually.
Orbs Liquidity Hub is expanding and acquiring additional use cases on a large scale. Towards the conclusion of the first quarter of 2024, it executed an agreement with software company IntentX.
The company collaborated with Orbs Liquidity Hub to implement the protocol as its primary spot engine. The objective was to provide consumers with access to the perpetual contracts marketplace and spot orders.
In general, liquidity centers are becoming increasingly popular due to the quantity of tradable funds they provide to users.
