July 17, 2023 – Tel Aviv, Israel
Orbs, the layer three infrastructure network for decentralized applications, has announced the integration of its revolutionary dLIMIT and dTWAP protocol on Chronos, one of the largest decentralized exchange platforms on Arbitrum.
The integration means Chronos DEX traders can now access advanced order types, guaranteeing the price of their trades and breaking up larger orders into smaller, bite-sized transactions.
Chronos joins a growing club of prominent DEXs to integrate Orbs’ dLMIT and dTWAP protocols, including QuickSwap, SpookySwap and Thena.
With each new integration of dLIMIT and dTWAP, it further solidifies Orbs’ status as the market leader in DeFi innovation, showcasing the ability of its novel layer three technology to push the boundaries of smart contract capabilities.
Orbs’ dLIMIT is a fully decentralized, permissionless and composable DeFi protocol developed and powered by the Orbs network.
It enables DEXs to offer ‘limit’ orders where traders can buy or sell tokens at a specific price or better.
While the specified price is guaranteed, the execution of the order is not and will only occur if the price of the underlying asset moves in the right direction within the specified time.
The ‘limit’ order is executed as soon as the market price meets the order’s specifications.
As for dTWAP, this enables decentralized, time-weighted orders.
TWAP orders are an algorithmic trading strategy that aims to lessen the impact of larger orders on the market by breaking them down into smaller segments that are executed over a specified time period.
By executing trades as smaller orders, it reduces the price impact and enables traders to gradually acquire assets over a longer duration at the most optimal price.
This is a particularly useful order type in DeFi, where liquidity pools often need time to rebalance after large orders are executed.
Traders on Chronos DEX can now utilize both order types, which are a staple of traditional finance, without sacrificing on decentralization.
Chronos is one of the DeFi industry’s most widely used DEX platforms on Arbitrum, supporting a transaction volume of 10 million over the last week.
Orbs is a decentralized protocol executed by a public network of permissionless validators using a proof-of-stake consensus mechanism. It boasts over $100 million in staked TVL (total value locked).
Orbs is pioneering the concept of layer three infrastructure, utilizing…
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