a year ago
Chronos, one of the largest DEXs on Arbitrum, has integrated the dLIMIT & dTWAP protocol powered by Orbs!
As a result, Chronos traders will now have access to both advanced order types, enabling traders to guarantee the price of their order or break up large orders into smaller trades. This development follows successful integrations with other prominent DEXs including QuickSwap, SpookySwap, Thena, and more. With each integration, dLIMIT and dTWAP further solidify Orbs' position as a market leader in DeFi innovation, showcasing Orbs’ novel layer 3 technology for pushing the boundaries of smart contract technology.
dLIMIT is a fully decentralized, permissionless, and composable DeFi protocol developed by the Orbs project and powered by the Orbs network. Chronos traders will now have access to the advanced order types at no extra cost. Furthermore, in addition to dLIMIT, Chronos will also integrate decentralized time-weighted average price orders (dTWAP) by Orbs, enabling execution of this commonly used algorithmic trading strategy.
Orbs is a decentralized protocol executed by a public network of permissionless validators using PoS, staked with TVL valued at over a hundred million dollars. Orbs pioneers the concept of L3 infrastructure, by utilizing the Orbs decentralized network to enhance the capabilities of existing EVM smart contracts, opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs, and GameFi.
In the past week, Chronos supported a transaction volume of 10 million at the time of writing. dLIMIT & dTWAP will expand the DEX’s current offerings, potentially opening up another avenue for the project to increase trading volumes.
For those who are unfamiliar, a Limit order allows users to buy or sell tokens at a specific price or better. While the specified price is guaranteed, the execution of the order is not and depends on price movement. Limit orders will only be executed if the market price meets the order specifications.
In contrast, a TWAP order is an algorithmic trading strategy that aims to reduce the impact of large orders on the market by breaking them down into smaller portions that are then executed over time. By executing smaller orders, this approach lessens the price impact orenables traders to gradually acquire various assets over a specific period. In DeFi this is particularly useful as pools need time to rebalance.
Chronos’ traders can now utilize both of these key traditional finance orders without sacrificing on decentralization.
When switching to a dLIMIT ‘swap’ on Chronos, users are presented with an easy-to-follow user interface alongside an order history tab to keep track of previous transactions.
Before executing a dLIMIT order, traders must specify the following:
dLIMIT takes into account current market conditions, prices, and gas fees. Once the parameters are set, the user can approve the specific source token, place the order, and review their order live in the ‘order history’ tab.
For a dTWAP order, three additional parameters need to be specified:
Similarly to dLIMIT, these parameters provide incredible flexibility in customizing each order, taking into account factors like market conditions and current gas fees. Additionally, the UI facilitates both dTWAP-market orders, which execute all trades at the available market price, and dTWAP-Limit orders, which only execute individual trades if they are within the price Limit set by the user. Once these parameters are set, the user can approve the specific source token, place the order, and confirm their specified configuration.
The dLIMIT & dTWAP protocol, powered by Orbs L3 technology, has become the industry standard for decentralized algorithmic orders in DeFi. The ‘powered by Orbs’ branding has become a staple of confidence when executing advance orders on decentralized venues.
To date, the protocol has been implemented by 6 DEXs spanning 4 chains, with millions of dollars in transactions already being facilitated through this protocol. The diverse DEXs who have implemented the protocol are major players in the DeFi space, with total TVL to date of over $300M.
For more information regarding both advanced order types, join the support Telegram channel.
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About Orbs
The Orbs Network is an open, decentralized, public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus.
Orbs is a separate decentralized execution layer operating between existing L1/L2 solutions and the application layer, as part of a tiered blockchain stack, without moving liquidity onto a new chain. Orbs acts as a “decentralized backend”, enhancing the capabilities of existing smart contracts and opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs, and GameFi.
Orbs was founded in 2017 and launched its mainnet and token in March of 2019. Orbs is being developed by a dedicated team of more than 30 people, with team members working out of Tel Aviv, London, New York, Tokyo, and Seoul.
For more information, please visit www.orbs.com, or join our community at:
Telegram: https://t.me/OrbsNetwork
Twitter: https://twitter.com/orbs_network
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