Orbs L3 Partners with SYMMIO and IntentX

Orbs, a layer-3 liquidity protocol, has announced the launch of its Perpetual Hub, designed to enhance the on-chain futures experience for leverage traders. This ambitious initiative is in collaboration with SYMMIO and IntentX, aiming to address significant inefficiencies in the current decentralized finance (DeFi) perpetual futures market.

DeFi perpetual futures providers have traditionally relied on order books as a liquidity mechanism to facilitate token swaps and bootstrap trading. While this method has enabled investors to participate in decentralized perpetuals, it has been criticized for its lack of capital efficiency. According to DefiLlama, the current model falls short in efficiently managing the $3.4 billion locked in on-chain derivatives.

Derivatives TVL Rankings. Source: DefiLlama

Introducing the Perpetual Hub

To tackle these challenges, Orbs has introduced the Perpetual Hub, an intent-based offering providing a suite of on-chain solutions. These solutions are designed to enhance the user experience and improve the overall efficiency of the DeFi perpetuals market.

The Perpetual Hub consists of three main components: Hedger, Liquidator, and Price Oracle.

Hedger, Liquidator, and Price Oracle

Hedger utilizes SYMMIO’s front-end for aggregated liquidity. This component acts as a counterparty, drawing resources from external capital corridors such as Binance and other centralized exchanges. By leveraging these external sources, Hedger ensures that there is sufficient liquidity to facilitate trades, thereby enhancing the overall trading experience for users.

Liquidator plays a crucial role in maintaining margin thresholds. This component allows individuals to earn fees by contributing to the maintenance of margin thresholds. When a trader’s position falls below the required margin, Liquidator steps in to close the position, ensuring the stability and integrity of the trading platform.

Price Oracle provides a decentralized pricing terminal that monitors unrealized profit and loss. This component ensures that traders have access to accurate and up-to-date pricing information, allowing them to make informed decisions about their trades. By providing a reliable pricing mechanism, Price Oracle enhances the transparency and fairness of the trading platform.

A Step Forward for On-Chain Futures Trading

Ran Hammer, Orbs VP of business development, emphasized the significance of the Perpetual Hub launch. He states that it “opens a door that has previously served as a blocker” for blockchain participants who have increasing interest in on-chain futures trading. The introduction of the Perpetual Hub marks a significant step forward in the evolution of on-chain derivatives trading.

SYMMIO also expressed enthusiasm for the collaboration. In a recent tweet, the company highlighted the potential of the Perpetual Hub to drive the future of on-chain derivatives trading. The tweet stated, “This end-to-end solution is designed to drive forward the intent-based future of on-chain derivatives trading. Slowly then suddenly.”

The collaboration between Orbs, SYMMIO, and IntentX signifies a major development in the DeFi space. By addressing the inefficiencies of the current perpetual futures market, the Perpetual Hub aims to provide a more robust and efficient trading platform for users. As the DeFi market continues to evolve, innovations like the Perpetual Hub will play a crucial role in shaping the future of on-chain trading.

The launch of Orbs’ Perpetual Hub, in collaboration with SYMMIO and IntentX, marks a significant milestone in the DeFi space. By leveraging advanced on-chain solutions, the Perpetual Hub aims to enhance the efficiency and user experience of the perpetual futures market. As blockchain participants continue to explore the potential of on-chain futures trading, the Perpetual Hub stands poised to drive the next wave of innovation in the DeFi market.

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