in an hour
SpookySwap has expanded to Sonic and has integrated the dLIMIT and TWAP protocols powered by Orbs, enhancing its DeFi ecosystem with advanced trading functionalities.
As a result, SpookySwap traders now have access to both advanced order types, enabling them to either lock in the price of their trades or split large orders into smaller ones. This integration follows successful implementations with other prominent DEXs, further solidifying Orbs’ position as the go-to solution for advanced DeFi orders and showcasing its unique Layer 3 technology, which brings CeFi-level execution capabilities to DeFi.
dLIMIT is a fully decentralized, permissionless, and composable DeFi protocol developed by Orbs and powered by the Orbs Network. In addition to limit orders, SpookySwap will also integrate decentralized time-weighted average price (TWAP) orders by Orbs, supporting this widely used algorithmic trading strategy.
Orbs operates as a decentralized protocol managed by a public network of permissionless validators using PoS, with tens of millions of dollars staked in TVL. The protocol enhances on-chain trading with L3 use cases like aggregated liquidity, advanced trading orders, and decentralized derivatives, bringing an efficient CeFi-like trading experience to DeFi.
SpookySwap has supported a transaction volume of over $60 million in the past month. dLIMIT and TWAP will expand SpookySwap’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. While the specified price is guaranteed, the execution of the order is not, and depends on market movement. Limit orders will only be executed if the market price meets the order specifications.
A TWAP (Time-Weighted Average Price) order is a trading strategy that aims to reduce the impact of executing a large order all at once by breaking it down into smaller portions over a set time period. This approach helps minimize price volatility and allows traders to gradually acquire or sell assets. In crypto, where prices can shift rapidly, TWAP strategies are especially effective for reducing slippage and achieving more consistent execution.
SpookySwap’s traders on Sonic can now utilize these key traditional finance orders without sacrificing decentralization.
When switching to a dLIMIT ‘swap’ on SpookySwap, 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 TWAP 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 TWAP-market orders, which execute all trades at the available market price, and TWAP-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 & TWAP protocols, powered by Orbs L3 technology, have 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.
Together with its other products: LIquidity Hub for aggregated liquidity and Perpetual Hub for decentralized on-chain perpetual futures, Orbs protocols have been implemented by 15 prominent DEXs spanning 9 chains.
Join the support telegram channel for more information regarding both advanced order types.
Find out more info:
About SpookySwap
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) built on UNIV3 for EVM-compatible networks. As the premier DEX on Fantom, Horizen, and BitTorrent Chain, Spookyswap is committed to delivering a seamless DeFi experience with a strong foundation powered by its BOO token, which supports governance, diverse farming options, and a built-in bridge. Spookyswap remains dedicated to user-centered service as it continues to grow its unique presence across the crypto space.
About Orbs
Orbs is a decentralized Layer-3 (L3) blockchain designed specifically for advanced on-chain trading.
Utilizing a Proof-of-Stake consensus, Orbs acts as a supplementary execution layer, facilitating complex logic and scripts beyond the native functionalities of smart contracts. Orbs powered protocols such as dLIMIT, dTWAP, Liquidity Hub, and Perpetual Hub push the boundaries of DeFi and smart contract technology introducing CeFi-level execution to on-chain trading.
The project's core team comprises over forty dedicated contributors globally from Tel Aviv, London, New York, Tokyo, Seoul, Lisbon, and Limassol.
For more information, please visit www.orbs.com, or join our community at:
Telegram: https://t.me/OrbsNetwork
We use cookies to ensure that we give you the best experience on our website. By continuing to use our site, you accept our cookie policy.
