Space Summary
The Twitter Space AMA w/ @OrderlyNetwork hosted by BingXOfficial. The AMA with @OrderlyNetwork in collaboration with @ChelseaFC on BingX focuses on empowering traders in the cryptocurrency market through education, strategic support, and community engagement. Discussions revolved around the impact of partnerships, the importance of knowledge sharing, and fostering a strong community for trader success. With a spotlight on empowerment and growth, traders gained valuable insights into evolving strategies and tools to navigate the dynamic crypto landscape effectively.
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Questions
Q: How does @OrderlyNetwork empower traders in the crypto space?
A: @OrderlyNetwork focuses on providing education, support, and strategic insights to enhance traders' experience and success.
Q: What benefits come from strong partnerships with prominent organizations like @ChelseaFC?
A: Partnerships with entities like @ChelseaFC bring credibility, visibility, and unique opportunities to cryptocurrency platforms.
Q: What strategies does @OrderlyNetwork use to support traders?
A: @OrderlyNetwork implements innovative tools, analysis, and community engagement initiatives to empower traders and drive success.
Q: How does community building impact traders in the crypto market?
A: Building a strong community fosters trust, knowledge sharing, and collaborative growth among traders in the cryptocurrency space.
Highlights
Time: 00:12:45
Empowerment Through Education Discussions on the importance of education and knowledge sharing for traders.
Time: 00:25:18
Partnership Impact with @ChelseaFC Exploring the benefits and collaborations derived from being the official partner of @ChelseaFC.
Time: 00:38:30
@OrderlyNetwork's Strategic Support Insights into the strategic tools and support mechanisms offered by @OrderlyNetwork.
Time: 00:45:59
Community Engagement Dynamics Understanding how community engagement drives success and growth for traders in the crypto market.
Key Takeaways
- Emphasizing the importance of empowerment and education for traders in the crypto space.
- The significance of strong partnerships between cryptocurrency platforms and notable organizations like @ChelseaFC.
- Insights into the strategies and tactics used by @OrderlyNetwork to support and elevate traders in the industry.
- The impact of community building and engagement on the growth and success of traders in the crypto market.
Behind the Mic
Initial Greetings and Technical Checks
Hello, hello. Testing, testing. Hello. How are we doing? Hello, hello. Oh, sorry. Is Mike clear for everyone? Can we do a quick mic check? Yeah. Hello, Arjun. And, Hello. How are we doing? Hello, hello. Doing well. What about you? Yeah, very well. Can't complain. Sunny day here, coffee in hand, looking forward to this. Amazing. Oh, wow. Sunny day. I mean, geez, it's a. It's a really hot day for me. Yikes. All right, well, let's get things started. I mean, thank you, everyone, for joining. And first off, welcome our guests today, orderly network, as well as our speaker, Arjun from Orderly Network.
Introduction of Arjun
Feel free to give us a quick introduction about yourself, Arjun. And if you'd like to go through a bit about orderly acts, well, that would be much appreciated. Sure. Of course. So, first and foremost, thank you so much to you and the BNX community for having me on today. My name is Arjun Arora. I am Coo at Orderly Network. I've been with orderly network since late 2021. Prior to that, I spent around about ten years leading business development and strategy teams over at Google. And my crypto journey probably started around about late 2017. Unironically was very quickly in it for the tech from buying the local top, and have been sort of obsessed with it ever since.
Role at Orderly Network
My role at orderly is COO, which means I kind of COVID business development, ecosystem, legal, finance, product strategy alongside our core team as well. But what I will do is introduce you guys a little bit to orderly network. And what we do, who we are. The strap line here, if you will, is orderly network is an omnichain trading infrastructure, unifying liquidity across blockchains. You can think of us, we're almost building this ultimate DeFi trading Lego, if you will, where a multitude of different DeFi protocols can integrate directly with us and build on any blockchain.
Vision for Orderly Network
And the true vision of what we're trying to do here at orderly is to just become this permissionless cloud liquidity layer, if you will, and really enable a wide range of different protocols to be able to tap into us effectively. We consolidate orders into a single, unified ebb order book across multiple blockchains. So that means users can come from any chain of their choice to any dex of their choice and trade perpetuals across one unified order book. Interesting, interesting. Thanks for the brief explanation and, of course, your introduction as well.
Interaction with the Audience
Once again. Oh, wow. We got quite a bit of people already. Once again, welcome, everyone, and hope you guys are having a great day. Once again, we are having an AMA with orderly network today. Oh, one more thing. We will be doing some giveaways along the way during the AMA. So make sure you guys stay until the end, because as per usual, for all the AMA's that I host, you guys know the drill. If you're, you know, returning every single AMA, I do the giveaways at random. And also try to make this more of a discussion rather than just an AMA, because I'm personally learning a lot from these AMA's and I want everyone to also be learning a lot from all these AMA's as well.
Deep Dive into the Unified Order Book
Right. Everyone gets to take away from it and. Yeah, thank you, Arjun. That was very brief explanation. I really appreciate it. I kind of wanted to know more about this single order book thing because I don't think I've interacted or heard about too many of these similar products. I think you guys are doing something quite unique over there. Could you dive a bit deeper into that part? Yeah, sure. So the big premise for us and why we're doing this is, number one, we believe in chain abstraction, right? Chain abstraction is really important to us.
Challenges of Chain Usage
We believe, especially in the web two world, having to create these barriers for users doesn't really exist. When a user has to go to a different chain, they inherit a security risk, they have to use different bridges, they have to wrap assets. It can become slightly tiresome for them as well. So for us at Audley, we truly believe in chain abstraction. It's important for us to be able to allow that and enable that user to come from the chain of their choice to natively deposit the asset of their choice and trade on the venue of their choice. So we operate purely as an infrastructure and liquidity layer.
Infrastructure and Liquidity Focus
We don't have a retail facing arm. We're not a perpetex for users to come and trade on. We are the backend infrastructure that powers a whole suite of other perpetual dexs. So right now, orderly has. And that's why you can understand when we talk about this cloud liquidity model that we are just the backend infra to create a unified order book. And the liquidity that feeds the unified order book on any chain as well. So we have around about 20 plus different dexs powered by us right now.
Orderly Network's Trading Volume
And those dexes are doing, you know, upwards combined towards a couple of weeks ago, were sitting at more than a billion dollars of 24 hours volume. That's a big number. And how we really do this, and when you mentioned in your question is how we're able to unify this. Well, what people don't overly know is Audley actually is a blockchain itself. We have our own chain, our own layer two. It's built off the op stack. It leverages Celestia for data availability.
Layer Zero and Cross-Chain Messaging
I think we're probably the largest user of Celestia blob data. We are the second largest layer zero, second largest protocol, leveraging layer zero for cross chain messaging. People don't really see this stuff in the background, but I started this answer by talking about chain abstraction. The orderly chain effectively operates as a settlement layer. The user never has touch our chain. They deposit and withdraw from the chain of their choice. They natively trade those assets on our unified order book, and then we settle every single trade, update every balance, update every deposit and withdrawal on our chain in the background.
Challenges with Traditional Bridges
Gotcha. Well, then that's really intriguing, because I guess most AMA's that we have in the past is more like their own product. They're doing stuff for themselves. They're building everything to integrate everything for themselves. Right. But what you guys are doing, you're building infrastructure for everyone else. And that's really amazing because there's so many chains out there, it's like, I don't know what to do. I don't know what to do. I only have ETH, so I only have gas fees for ETH. I only have just arb.
Addressing User Frustrations
But then stuff on arbitrum is like, eh, sometimes it's not supported. You know, there's. There's so many, like, different restrictions and limitations. And I feel like if you guys are doing this, you know, cloud liquidity thing, that will really help out a lot of people who are. Yeah, for sure. I think in all, you know, the whole range of investors actually, like, from the beginner side, you know, I don't really have to do too much, and you guys just kind of take care of everything in the more expert level side, they can do, you know, explore a lot of options from saying, hey, I can put this amount of money on this chain to maximize my profits on here, but I can also easily move onto the other chain whilst doing all my trading.
User Experiences
Right, exactly that. And it's just getting to the point where we stopping users, traders, institutions, and forcing them down to do things down a path that they might not want to do and inherit that risk. Okay, now I need to, you just mentioned, you know, Ethereum itself. If I want to trade on Ethereum, I can trade on Ethereum. If I want cheaper gas costs and I want to be on arbitrum, I can do that. If I've got funds on optimism, I can do that. I don't want to have to continually wrap my assets, find the right supported bridge.
The Inefficiency of Asset Bridging
Bridge my assets, wait ten minutes for the assets to reach that. It's just nothing. What type of experience is that, you know? Yeah. If this is, if you go back to the nine to five, like working day, right? And I'm in an office and I start at 09:00 a.m. i get to the office and I'm trying to pull up a trade. Like, by the time I've bridged assets, it's already five. It's already 05:00 p.m. and I don't know where the assets are, and I have to come in tomorrow to start trading. That's, that's also one of my things where it's like, when it's on, you know, the bridge and it's like, oh, my gosh, is it actually going to arrive on my other chain?
Concerns of Confirmatory Delays
Like, I'm so unsure. Like, sometimes it takes like an hour, even though the platform or like the feature it mentions, the expected arousal time is like 15 to 20 minutes. And then at the end of the day, I wait like 1520 minutes. It's still not there. Yeah. And then half of us are just like, we've got the transaction hash, or we're looking at the block explorer. We're refreshing it. It says it's confirmed, but the funds aren't in the uihe. It just isn't an experience that is conducive to, like, mass market adoption.
Addressing DeFi Adoption Barriers
Right. And we always talk about Defi and the inflection point about how DeFi takes on mass market adoption and when we're going to see a new renaissance of Defi summer, you know, we have to create, like we truly believe over Audley. There are sort of three key areas for Defi. Number one is user experience and onboarding for sure. Number two is infrastructure. Number three is liquidity. So orderly solves for those last two pieces, infra and liquidity. We give sex like experience, right.
Creating Centralized Exchange Experience
In terms of centralized exchange like experience, in terms of execution. And then from a liquidity perspective, we give a centralized exchange style, a liquidity experience. We try to bring a true unfragmented liquidity approach because obviously, as we mentioned, all of these multiple blockchains that have assets that you're bridging to, all of that liquidity is fragmented across them with one true unified order book that sits on orderly is, we're able to truly give that really deep liquidity that you do see on centralized exchanges.
Focusing on User Acquisition
And then the first point. That just means the protocols that build on top of us only have to focus on user acquisition, user experience and onboarding, which means they can give a better experience in terms of social logins, nice UI, mobile phone logins, fiat on ramps and etcetera. Yeah. So we really then do solve for bridging the gap with all of these issues within defier. Yeah, they basically have to build one less part of their product. You guys just helped them build everything for one of the more, I would say the risky side as well, because you're managing that much liquidity, it has to come with some risk.
Management of Risks in Liquidity
But technically, the projects don't have to bear that risk because you guys are doing everything to focus and to build onto that. That's amazing. They just then focus on that community building, user acquisition, onboarding, and listening to their users. What do you want the UI to look like? Do you like this? More plug and play elements in the UI? Do you want to see the order book in this manner? And they can just customize it and just focus on that?
Building a DeFi Super App
And then, of course, because they're not paying all this money and resource to have a backend, perp dex, they can then start building more products around that as well and becoming a true, like, defi super app. That's what we all want as users. Right. We want to go somewhere where we. Can do everything for sure. And since we're talking about something that guys are building, could you share us a bit about what you've built perhaps in the past, say, few months, and what you guys have achieved in the past few months or so?
Recent Achievements of Orderly Network
So we've had a lot of sort of milestones and achievements along the way. Early 2022, we raised $20 million seed round from the likes of, like, Pantera Capital, Dragonfly. When did you start? When did you have startup? Very, very late 2021 in terms of inception of idea and then fundraisers. Okay, sorry, continue. Go ahead. Yes, we raised $20 million, closed that round, the seed round. So that was led by like, Pantera, Dragonfly, jump, GSR.
Significant Launches
And then we've had some fantastic sort of almost original parts of orderly, in terms of a spot and perpetual order book on the near blockchain going into November of last year. So ten months ago, we launched orderly EVM, which is what we've been discussing today. This orderly settlement layer, this orderly layer two blockchain that can settle every single trade across multiple blockchains. We've gotten launched alongside that chain like asset vaults on eight different EVM chains.
Expanding Trading Access
So users can come from Ethereum, arbitrum, optimism, base polygon, mantle, and trade seamlessly and gaslessly. Perpetuals. We have more than 21 different DeFi protocols built on top of us. Those range from swap based amms that want to widen their product offering and add perps. It ranges from centralized exchanges that want to have a perp Dex and dip their toe in the water into DeFi.
Diverse Applications of Orderly Network
It ranges from out and out brand new perp dexs, existing perp dexs that just want to bolster their liquidity. Or it could be a very chain specific perp Dex that wants to expand their network and go, okay, you know what? We're a perp Dex on optimism, and we're going to power that ourselves. But we also want users to come from other chains. Can we tap into your liquidity for other chains? And then since then, we've had a total trading volume that surpassed more than 80 billion volume.
Revenue Sharing Model
Cumulative volume, that's more than 425,000 total accounts. The way we basically operate is on a revenue share model. So orderly charges a base fee on trading, and the DEX is on top of us, charge a fee on top of that. Orderly, keeps our fee and they keep their fee. So our net revenue since November has been more in excess of $7.5 million.
Token Holder Benefits
The great thing about that is now that we have a token, 60% of all net revenues go token holders. We are a, you know, a real revenue protocol gives real yield back to thingy. And then we, like I said, based off that, you know, we had our TgE less than two weeks ago, and we have more than 55 million order tokens staked. You know, those are all pretty exciting milestones for us.
Reflection on Milestones
You know, it's not just milestones at that point. That's like actual achievements. That's crazy. Like 80 billion trading volume. Yeah, that's just unimaginable at that point. Actually, could you name a few notable projects that you guys are supporting for any sort of defi stuff? I'd love to check them out as well and see how you guys are running it as well.
Noteworthy Projects on Orderly
Yeah, without a doubt. So. So I'll name a couple that have kind of not pivoted, but expanded the product horizon from centralized exchanges. So three centralized exchanges kind of widen their product offering to add a defi perp. So that's Ascendex, bitsy, and woox. So there's Wu Fi Pro, which is one of the largest perp dexs. Built on top of orderly. They're all centralized exchanges.
Integration with Telegram Bots and AMMs
Then we've got telegram bots like unibody, that's great. They run their perps purely through orderly. We've got blue chip amms in specific ecosystems, like the polygon ecosystem. So quick swap now has a perp Dex offering fully powered by orderly.
Overview of Elixir Finance and AMMs
We have elixir finance that runs strategies through orderly. And we have a bunch of really cool, very chain specific amms that you guys may or may not have heard of. Like Fusion X is a big blue chip brand in the mantle ecosystem. They run perps truly through orderly. And then Logx is this like omnichain perp Dex aggregator. They're very popular at the moment. They do 100, $200 million of 24 hours volume running through orderly most days as well. So it's a wide range. And of those 20, let's just say we've probably got a minimum of another 20 in the next two months that are going to be going live.
User Trust and Project Visibility
That's amazing. Some are super exciting. And you know, what we just want to be showcasing to the users is, you know, we're not in the public eye. Right. But as long as you see that powered by orderly stamp in the bottom corner of that perp Dex that you're using, you feel safe and you feel comfortable. That's a stamp of trust right there. Yeah, for sure. Exactly. And, okay, and actually, can we find all these projects that you guys are supporting on your website or anywhere else?
Finding Information on Ecosystem Partners
Yeah, we have a partner page on our website and everyone can go and see that. So it's just orderly.net work. And you can just click ecosystem partners and you can see every single partner that's integrated with orderly. We also have a dune dashboard, which you can just search orderly network dune dashboard on Google. Or maybe we can put pin the link or something like that. Do you guys have a look for it? I'll check it out. I'll check it out. We'll definitely be able to get it up, but you'll be able to basically just see like the volumes that we did yesterday.
Volume and Ecosystem Overview
We did $65 million of 24 hours volume yesterday, how much we made, how much the Dex is on top of us made. And you can see individual dexs, what they're doing, how many traders they've got, and it's a very big ecosystem. Let's just say that. Awesome. Awesome. That's great. And since it's such a big ecosystem, do you guys have other plans other than, you know, supporting? Like, we understand that you're supporting everyone else.
Future Plans for Orderly Network
You're doing all the infrastructure stuff, but what's your plans on improving the orderly network itself and how do you expand further? Support for other, say, crossing projects or cross chain liquidity and so on and so forth. So orderly has grown from around about four of us and some advisors to 60 plus employees, which for your standard defi protocol is exceptionally large. Right. Of those 60 plus, more than 75, 80% of those people are product engineering research and development.
Innovation and Expansion
We really push a big focus on pushing the boundaries with innovation, ensuring we are doing the very best we can to always be at the top and provide the best solution for our customers being these perp dexs. So as we move forward, there are lots of different things that we'll be doing. We're going to continue to expand to new blockchains. I've kind of always said, oh, there we go, the orderly network. Twitter just repinned our dune dashboard. Okay.
Expansion and Non-EVM Chain
Yes, we will be expanding. We will be expanding to new blockchains, actually, in around about four or five weeks. Something really exciting that we'll be doing is expanding to a non EVM chain. Okay? So you can imagine that is going to be the first ever. Now, firstly, there's a. There's a. You won't really see a unified order book across EVM chains, right? But this is now going to be the first ever EVM and non EVM unified order book.
Unified Order Book Concept
Is it, is it Solana? No comments. Right. Okay. But let. Let's. Let's imagine a world where the chain that you just mentioned, that I'm not mentioning, you can. You can natively deposit and withdraw USDC, and you can trade on a perp Dex. Oh, what was the chain name again? I don't know. I don't remember. And you're trading versus a user on the exact same order book. Settled every single block.
Impact of Cross-Chain Trading
And they're on arbitrum and they're using another perp dex. Imagine what that does to that non EVM chain if they do or don't have perps right now, the amount of users, the traction that they would see, that is the ethos of what we're doing here at Audley. Right. Lots of protocols go from one hot chain to the next hot chain, but the liquidity is always fragmented. They have to bootstrap it with incentives.
Benefits of Orderly Network
TVR moves from one to the other. It reduces on the one they were on before, it increases on the new one, and it's not growing the pie. What we're doing is being able to allow users to be able to do this right? So that's an exciting piece for us that's never to be seen. We're going to continue to diversify collateral options. So right now users can use, it's perpetuals, right? So they use collateral.
Expanding Collateral Options
That collateral is native USDC. We'll be moving and expanding those options to more different stable coins, more major assets like bitcoin, eth, sol, et cetera, yield bearing stable coins, rwas. And then also we're going to continue to add more chains after that. You know, the chains that people are excited about as well, the EVM. And on EVM chains, monad bearer chain story protocol, etcetera.
Future Development and Goals
These things will all be happening in the future too, right? That's amazing. That's amazing. It doesn't sound like. I don't know, I just don't want to make it sound like it's just us being excited for it. I actually want to give more context if people don't understand, because so if every chain is basically like EVM compatible, like, that's a term, right? Just letting people understand.
Understanding EVM Compatibility
If it's EVM compatible, it means you guys can do everything on, like, say, metamask, right? You just change your network and then you're on that chain. And that's from like a user perspective, that's easier to understand. So basically, everything is quote unquote in like the same language. So to say, you know, like a programming language, like everything is in the same language. But there are other chains that don't actually use this quote unquote language.
Bridging EVM and Non-EVM Chains
And it's way harder to integrate these two chains together because they're just completely different at the core. So what orderly is doing right now is they're trying to bridge this gap between two chains that one that is EVM compatible, which is much easier to work with, and one that is non EVM compatible, which is much harder to work with and needs individual and separate support. So to say, feel free to correct me if something is off.
Chain Abstraction Philosophy
Yeah, without a doubt, that's exactly what you're saying there as well. And it just doesn't exist. Right. And like I said, right from the very start, if you notice, everything kind of falls back to that exact first statement. I said, we believe in chain abstraction. If that's the chain the user wants to be on, if they know about it or they don't know about it, and that's just where they are.
User-Focused Approach
They shouldn't have to worry about anything. Exactly. If you want to be on an ebm chain and deposit, do it. If you don't. It's exactly like the, you know, the centralized exchange model, if you will. Right. When I need to deposit to being x as an example, or any centralized exchange, and I've got bitcoin or USDT, USDC, it doesn't. The centralized exchange accepts my deposit from any chain in theory, right?
Centralized Exchange Model Comparison
And it's the same model. And then I'm just trading one order book, right? Like, it's not specific to, it's nothing to do with the chain. So for us, it kind of represents a similar model. If you want to trade on the order book, come from wherever you want, deposit and withdrawal from wherever you want. But we'll never wrap assets, we'll never bridge assets.
Operational Mechanics
Your deposit, your USDC, sits on the chain that you did. So when you want to withdraw, you just withdraw. Exactly. You're doing all the hard work for them. That's all. That's amazing. And, oh, talking about this, we've gone through a lot like how you guys work and what you guys are doing, but I'd like to know more about the token itself because we haven't gone too deep into that yet.
Significance of the Order Token
So what's the significance of your token order and what can I do with it? So the token we probably spent more than two years designing, looking at different ideas, ensuring that it was the most relevant. Sometimes you see projects release a token before they even release a product. We released a product, we got users, we got traction, we got builders, and then we made sure that the token was at the absolute center of everything.
Business Model and Token Utility
So, first and foremost, when I explained our business model, we work on a revenue share model. We make trading fees. 60% of all of those trading fees go into a treasury, an orderly treasury, right? And token holders, stakers, receive that treasury, right? So like we said, like you said yourself, it's real yield. It's protocol derived revenue directly in the hands of holders. That's the most important piece.
Revenue Sharing and Governance Rights
That's what we like to see, revenue. 60% of all revenue that we make, net revenue that we make, goes into the hands of holders. We keep the rest back for now, purely for operational expenses. Understandable. Outside of that, there's governance rights for the token order. Stakers are able to participate in all different areas of our governance when it gets released, which is going to be like grants, token listings, liquidity, deployment, and so on and so forth.
Staking and Trading Rewards
Staking our token also boosts trading rewards. So if you hold the order token and you stake it, and you're trading one of the 20 plus dexs, you will earn more order tokens irrespective of if your trade is successful or not. Right. And then we're continuing to being a chain agnostic token is very beneficial because the token can be liquid on multiple different chains at once.
Omnichain Fungible Token Standard
It's actually, what's interesting about our token is it's an oft, right? Which is an oft is a new standard. It stands for omnichain fungible token. Right, okay. Which means it's not an optimism token, it's not an arbitrum token, it's not an Ethereum only token. It means that it can be liquid on every single chain all at once.
Bridging Tokens Across Chains
Okay? Right, I'm learning, yeah. And then this is all powered by the layer zero standard, right? And then layer zero has a, another app on top of it called Stargate finance. You can go to Stargate finance, you can move your order token from optimism to arbitrum or to ethereum and bridge it instantly with a mint and burn process. And liquidity then moves across chains.
Liquidity Management
And it works in a very clever manner because that just means that token is liquid across many chains, which means we're able to do lots of things in the Defi realm and that can be really clever. So, yeah, the token is the absolute heart of everything. But as I said, the main portion that excites me the most, if you will, is the order stakers receive 60% of all net revenue that we make as a protocol.
Token Bridging
Right. Before I forget, quick question. Can I still bridge your token if I'm not using Stargate? Can I go on your website and do the bridging between networks? No, you can't. However, a user can go to our website and irrespective, so if they use. So let's say they want to stake, yeah, order token on our website. Yeah.
Omnichain Staking Features
Right. And you've got liquidity and you've got your token on optimism. And you, and you think you need to go to a theory. Actually, we have complete omnichain staking. So you can be on any network and stake your token on our website. You don't have to pick it. That's great, that's great.
User Experience and Complexity Reduction
So you can be on optimism with order token on optimism and you can just stake immediately and we'll do everything on the backend for you. Awesome. So yeah, like I said all along, we just want to take away all the complexity for the user. We've spent years and years building this out and we want to provide that experience that the users expect from web two.
Efforts and Collaboration
I mean, I think you guys are doing way overboard as well. It sounds so simple. I don't know, it feels like it would be much more complicated to explain all this if you guys did less. Yeah, that's very true. That's very true. It's like we've only been talking for, I don't know, 30 minutes. And I feel like you've covered most of the main points because basically, I'll try to summarize it in a few points.
Summary of Discussion
Literally, I can do that. First, what you guys are doing, infrastructure, you are building for other projects, and you guys are also building your own network. Boom. That's one point. Second point. Liquidity, cloud liquidity, everything is in one place. All the liquidity, all the money is one place. You don't have to care about anything else. Boom. Second point.
Final Thoughts
Third point. We're doing everything with this ofta omni chain fungible token, and you don't have to be on a specific chain, and you can enjoy all the perks of orderly a network within the app without any hassle. Boom. Third point. Done. Yeah, exactly. That. Absolutely. That sounds like. That sounds so simple.
Acknowledging Complexity in Simplicity
I don't know if that's me, but I swear there's so much work that you guys put in to make it this simple. I don't know if that was just me explaining it well or you being able to talk about it better. It's a collaborative. We both just did a good job there, you know? Yeah. I mean, good job to orderly for doing this and creating this product.
Conclusion
Right. Oh, that actually leads us into a good segment where I think everyone else should also enjoy the benefits of being an order holder. What do you think? Definitely. Maybe we should run a gimbal. Yeah, let's do it.
Introduction and Emote Reaction
All right. Awesome. All right, so for all the speakers in previous Ama's as well, I always do this. So first off, Arjun, could you bless us with an emote that you like from the reaction? Oh, okay. 1 second you can react to, you know, so pick one of your favorite emotes that you like everyone to react to. I'm gonna go with the heart. Heart. Awesome. All right, everyone, spam your hearts and make sure we give our hearts to orderly. Special thanks to Arjun for telling us about orderly as well. I've learned a lot up until now, even though, you know, I've played around with like, multi chain stuff and defi stuff, you know, I'm learning about like, oft. I'm learning about this new cloud liquidity program slash functionality you guys are doing. And it's been amazing so far. So hearts to orderly, hearts to origin, hearts for you guys for joining in today, right? And if you'd like to join the giveaway, make sure you guys spam some hearts.
Giveaway and Participation
And I'm gonna pick a few people to win some order. So you guys actually could start enjoying these staking rewards. Enjoying the cross chain. Experiencing the cross chain functionality. Right? Actually, do you call it cross chain or multi chain? Omnichain. Omnichain. Okay. Yeah. Okay. There we go. Omnichain. Is there any difference between all three? Yeah. So. And I think it's actually an important difference. A single chain is exactly what you think it is. It's single chain. Multi chain is multiple single chain instances. So it's just lots of single chains. Omnichain is everywhere. All at once. All chains, the same experience. I love that explanation. That clears up a lot. And, yeah, keep your hearts. And I'm gonna pick, five people.
Selecting Giveaway Winners
All right, let everyone spam your hearts once again. And I'll go three, two, one. All right. Boom. First one, we will go with Auggie. Sorry. Call me Devian. Congratulations. I'll go through these quick so we can resume our session. second one, let's go with JC. Congratulations. let's see. Just scrolling through. third one, let's go with jazzy. Jazzy Lewis. Congratulations. And two more. Keep your hearts coming. See some more hearts. Let's go with James. Congratulations, James. And last but not least, let's go with someone up top. Let's go with. Let's go with TK. Malem. Malami. Congratulations, everyone. This is not the only giveaway. We will do another one along the way. So make sure you guys stay tuned and stay until the end.
Discussion on Orderly's Token
Awesome. All right, back to our conversation. I love the token, what you guys are doing. I think it's simple and easy to understand, but I actually have another question for the staking boost part. So how does that actually work? Because you guys aren't hosting your own trading platform, right, as you mentioned. So how does this boost actually apply to the staking or the trading part? Yeah, so actually, again, once again, all done on the backend side of things. We don't have a trading platform ourselves, but we do have, like, a UI or a website where users can go to be able to stake directly with their wallet. And then when they connect that wallet to their specific chain, their specific Dex that they're trading on, then it all comes together. Okay. So it just connects in the background, basically. So you stake your order tokens on our orderly website, and then you go to the perp dex of your choice, connect the same wallet, and then you've got those rewards.
Staking and Trading Rewards
Oh, and these rewards are for, like, based on, like, my trading volume, based on how much order I stake, based on, you know, how does it specifically. I'm in, actually, the trading rewards aren't specific to how much order you stake. The trading rewards offer anyone, irrespective of if they stake order. However, there's a very lucrative bonus and multiplier based on how much order you stake. Oh, okay. Basically, stake more and you earn more. Easy. Exactly. Sounds good. I love it. And. All right, just wanted to go through, all right, we've gone through quite a bit, you know, the token, how it works, what you guys are doing. I kind of want to go through a bit more on the user perspective. So what's in it for me to, you know, use order?
User Perspective on Orderly
Like, what can I earn from order? What can I, you know, benefit in the long run? Just why should I choose orderly? So, first and foremost, like I said, we aren't a perp Dex, right? Many people want to buy tokens because they believe that one perp Dex will be the leader of. We believe in network effects, right. By the end of this year, I truly believe we're going to have 35, 40 plus different perp Dexs on top of orderly. So instead of betting one horse in the race, bet on the back end, right. If you believe perp dexes are going to go to it's better to bet on the back end that they're all powered by than just the one. It's a very pick and shovel style play. Secondly, you're then believing in the token because of all of these 2030, 40, 50 plus perp Dex is built on top of orderly.
Revenue Sharing and Benefits
60% of the revenue that Audlie makes goes token holders, right? Real yield. So you're earning a lot just from staking orderly, I guess. Exactly, exactly that, right? Yeah. But then if you're a trader, this is irrespective of the order token. If you want, if you want to go trade somewhere that has a centralized exchange style liquidity, centralized exchange style execution, especially for these high HFT traders, these large traders that do tens of thousand trades and work in the milliseconds, they can't do that on DeFi right now unless they're using leveraging orderly, right? So if you're a large trader or you want the best execution, and you just want to be doing it on chain. Orderly is the only venue for you to really be going.
Orderly's Market Position
Right, right. Are you guys, like, sorry, because I'm not familiar. Are you guys leading, like, this new infrastructure style, or are there other competitors within the field? I've seen a few perpetual dexes that have their own retail facing Dex and then have said, oh, wait, we can also offer this to other people if they want to tap into it. But then you're basically so not like an all in one. Yeah, but then you're basically saying, hey, would you like to tap into our backend? But we're also your competitor, right? Whereas, Audley, we're not competing for traders. Just go out there and use us, and you're going to have a suite of different products outside of perpetuals and just go and build what you want, man.
Leveraging Existing Infrastructure
We've done it all for you on the back end. You don't have to worry about it, but now you can just build other cool projects. You want to build a trading terminal, you want to build a swap around it. You want to build an NFT marketplace. You want to add fiat on ramps. Do what you want. Go and create this really cool defi super app. You've now got more resources and a very quality product because if you go out and do it yourself, it's going to cost a lot. It's going to need a huge amount of expertise. And if it isn't perfect liquidity, you aren't going to keep those users. They're just going to go to where.
Security Measures and User Protection
The best liquidity is, definitely. And also the best chain, so to speak. Because, like, you know, liquidity is always based off of chains, at least, you know, throughout these few years. But what you guys are actually doing is like, kind of revolutionizing, to be honest, because I don't really have to care about, like, this chain has more liquidity. So I go to this chain, this product has more liquidity. So I go to this product because it's more like, we have everything. You should come to us. Exactly. That's the sort of vibe your orderly is giving up. That's great. That's great. Amazing. Yeah, it's really good.
Trust and User Sentiment
I just think that it's just the pick and shuffle play for perpetual dexs and for trading on defi, for sure. Yeah, yeah. And I'd like to know a bit more about this security side as well. Since you guys are handling so much of liquidity on all chains. How are you guys reinforcing your security side and any measures that you guys, take. It's interesting, right? I would actually say security and user protection is one of the most fundamental areas that we focus on every single day at orderly, because without that, what are we? Right. So a wide range of audits have happened on Audley and continue to happen and are ongoing from very reputable audit partners. All of our audits are open sourced and available to see in our documentation.
User Protection and Risk Management
Nothing is hidden. We then have had bug bounty programs with exceptionally large prize pools with the likes of immunifier. And then one interesting area as well is Audley is directly integrated with a risk and alert system called hypernative. This basically is able to find out anything that looks a little bit suspicious in real time very quickly, and then alert protocols and they've actually caught or stopped. And a very large majority of hacks within DeFi before those hacks have even incurred. So we integrated directly with hypernative. It is the best way for us to ensure that nothing is happening to users and really protect them. But outside of the ability for that to happen, we have a very robust risk framework and audits that have happened as well as bug bounties and so on and so forth to ensure the users are as protected as possible.
Emotional Reflection on Collaboration
Yeah, I love it because listening to this, I feel like, you know, first off, I feel more safe and it's definitely much more trusted. Right. And on top of that, on the more, I don't know, I feel a little bit emotional because looking back at, you know, this what you guys are doing. You're like helping other projects do a part of their project, but then other people are also helping orderly, like, as you mentioned, like hypernative. You guys are working closely with them to build one part of your project, and then you also have audit part where other projects are also helping you do the audit. Everyone is working together and it brings a tear to my eyes.
Layer Two Chain and Ecosystem
Yeah, for sure. And you can even look like we have our own layer two chain that settles every chain, right? Yeah, but that, and that chain is built on the op stack. Layer two, you know, that chain is secured for data availability with celestia. That chain has cross chain messaging to all the other chains powered by layer zero. So it really, you know, like, you know, really everything does come together to build a true, you know, ecosystem for perpetual trading, you know. Yeah, that's amazing. I mean, the thing is, you can't really over promise all of this because, you know, there's a lot of projects, I'm not naming anyone specific.
Challenges and Realism
Right. But over the years, you know, a lot of projects are promising everything. You can do this, this and that all by ourselves. Yeah. Like it just doesn't work like that because there's so many components and. Yeah. If were to use like a web two version. Right. Like a couple of ideas. Think of it this way, right? And it all comes together. I think this is a really easy way to think of it. If I, you know, I'm sat at home and, you know, I've got, you know, some inventory of some stock and I want to sell that stock, right? And I'm going to create a website, right?
Building a Website and Infrastructure
What do I do? Do I go and buy the servers? I don't even know this thing. Or, or do I host the website on GCP, Google Cloud or Amazon web Services? Aws, right. Well, they've already got the servers and they're faster than me and they know what they're doing and I don't know what I'm doing. So why would I not let my back end be AwS or GCP, right? Yeah. So that's basically all. If I want to build a pub, Dex, am I just going to go get my servers and build it all out myself and do a bad, or am I just going to go. So if you think about things like that, right, Audley is the back, the default back end for that because we've already done it and we're experts at it.
Focusing on Core Business
So if you want to build a perfect, I'm just going to tap into orderly, right? And the same thing. If I want to build a shopping e commerce part, right? Do I go build out this ecommerce website and have fiat on ramps and, you know, inventory flow and inventory management? No, I'm just going to use Shopify, right. Because then I can focus on making my website look good and I focus on my product and focus on acquiring users. It's the same thing. Orderly. Is that aws? It's that GCP. It's that Shopify part. And Shopify is hosted on GCP.
Conclusion and Vision
And it's the same sort of analogy is I'm selling products.
Focusing on Users
I just want to focus on the users. So I'm just going to tap into Shopify. Same thing. Just going to tap into orderly. And off I go because I can do it in a couple of days instead of taking me years to go out and build an ecommerce store myself when I don't have the expertise. But what I do have the expertise is acquiring users to buy my product.
Understanding the Project's Scope
Exactly. And I hope this gives everyone a perspective as to how big this whole project is. It doesn't sound like a lot. As I said, we've gone through very generic points like, what are you guys doing? What the token is, et cetera. Those are very generic. It sounds very generic. But with these examples, I hope everyone starts, start to see what this vision that orderly is trying to do and how big it is for the whole web three space, especially the Defi part of it, because not everyone can just do everything by their own team, with their own resources. It just doesn't work like that.
Collaborative Efforts
Even for orderly, it doesn't work like that. And with everyone's cross collaborations and support, you can make such an amazing product with it. And, yeah, I don't know, I just feel emotional because I've seen too many failed products and I don't know if I should mention it, but in the early days, multi chain bridging, you know, bridging, like cross chain whatever via Dexs. That was kind of annoying because sometimes I would run into an issue where they're like, we don't have enough liquidity on this chain, so you can't bridge onto this chain. I was there for it.
User Experience Challenges
Yeah, definitely. We were all there. Yeah, exactly. And there's like, oh, I'm sorry, we only have 900 USDC here, but we have like 10,000 USDT, so you can bridge to USDT if you want. Like, it's like, it's not very intuitive. Right. The whole design, it just doesn't. Didn't come together as much because everyone's trying to do it by themselves like this. This problem comes from everyone trying to do it by themselves. They only have a limited amount of liquidity to work with. That's why these options are limited. I can't do this.
New Opportunities with Orderly
I can't do that. I'm sorry. You can only do this, but orderly is really broadening everyone's options, not just the user base, the projects as well. The projects that are using orderly as well. Exactly. Sorry, I'm just speechless. Emotional. Emotional and speechless. It's been a tough morning for you. It has, yeah, it has been. I don't know, I never signed. I never really signed up for this, you know, because I thought, right, just. Just a preface.
Learning from Discussions
Right. I never really want to look into these projects beforehand for all my AmA's because I want to learn more from our discussions. Like, I'm genuinely learning from just talking with you, Arjun, and with these learnings. I hope that these learnings also benefit everyone who's listening to the AMA. So it's not just a plain question one, what does your token do? Question two, that's boring. Who wants to listen to that? You're not going to learn anything from that.
Aim for Engagement
And, yeah, I hope everyone actually got something new from this. I definitely did. And I. I wish. Orderly. All the best. Amazing. You know what? I have thoroughly enjoyed this. I typically don't love having the earliest meetings in the world, especially when it's like a Twitter space and I'm quite tired. But you know what? Like I said at the beginning, the sun is shining, I had coffee in my hand.
The Value of Engaging Conversations
The questions have been awesome. You know, it's just been a pleasure. So I can't thank you guys enough. Like, I do a lot of these, and I've just. This has just been an enjoyable conversation. Like you said, you don't want to do a generic ama. This has been great. So thank you so much for having me. I love this discussion. I'm not going to put in Amy. Like, I love this discussion.
Updates and Future Engagements
Definitely. And I would love to come back, though, whenever you guys want an update, we do this monthly or something like that. We. We push some, like, cool, orderly content and do some more rewards, et cetera. You know, I'm really down to chat. For sure. For sure. Love it. And just to end things off, could you tell us a bit any, I don't know, say, upcoming updates or events, campaigns that you want everyone to keep an eye out for?
Exciting Announcements Ahead
Yes. And, yeah, go for it. So the. The second epoch of trading rewards on Audley powered dexs started yesterday. All right, so there's a share of orderly to be claimed. If you're trading on orderly, there are more builders going live on orderly very soon. Token 2049 is a big, you know, one of the biggest, if not the biggest crypto event that is going. That starts next week. We have a bunch of different exciting events.
Innovative Features and Developments
But what I will say for those that stayed on is we have some exceptionally exciting announcements, things that you and I didn't even discuss today when it comes to. Oh, I don't even know. Yeah, you know, when it comes to dabbling in the world of AI agents and autonomous trading with some very big, exciting blue chip brands. So that's all I'll say for now. I would keep an eye on our twitter, or even keep an eye out on my twitter because I post a lot of different things about exciting things that we're doing and things that I'm excited about.
Engagement at Token 2049
Anyway, next week is going to be a really next week is going to be really exciting. Let's just say that I love to pry into it, but I'll hold my. Not a charm, not a charm. And actually, do you guys have a booth or what are you guys doing in token 2049? And will you be there? I won't be there, actually, but we have around about eleven of our staff going. We don't have a booth, but we have a wide range of different events that users can come and see on our Twitter page.
Post-Event Opportunities
We're also hosting the official after party alongside Token 2049 as well. A lot of our partners are coming in, a lot of our stakeholders are coming in and we're really excited to showcase with them. And we have some fantastic events and some fantastic announcements with some of those partners for those events. So for any of those sleuths out there that want to go through our Twitter feed and see who we're doing events with, you might put two and two together.
Staying Updated with Orderly
Or keep an eye on your page, right? You said you'd be posting something exactly that. Yeah. Awesome. Yeah. Just make sure you guys follow origin, follow orderly network as well. They're both as speakers up here, so you should have no problem pressing a single button to click on their profile and pressing the follow button. Right. So give them their full support.
Endorsements and Personal Opinions
I personally. Not financial advice. I personally love what they're doing, even though I might not be able to fully commit to participating in everything that they're doing. But I believe in their vision and I believe what they're doing is going to be revolutionary. as mentioned, personal opinion? please. It's not financial advice. and, I love to see you guys grow big.
Final Thoughts on Infrastructure
Like, I'll be honest, like, something. Some. Some infra has to really go big at some point. Like these recent infras are. Are. I'm not saying any names. Right. It just feels disappointing because the progress and development is, like, so slow. I don't know, but multiple different infras for like, different chains. It just. Just been so slow. And I feel like you guys are going to do pretty well compared to everyone else in the market.
AMA Engagement and Giveaways
Love to see it. Awesome. I really appreciate it. I know. And last but not least, I hope I've, you know, weeded out all the week weak people who's been listening to the AMA. I think we should do one last giveaway for everyone who stayed until the end. And could we give a clap to. Can everyone spam the clap mode? Because I'd love to give a clap to Arjun for joining the AMA.
Acknowledgments and Community Spirit
Thank you. For having me. I also enjoyed the conversation very much. And clap too orderly for what they're doing. And, of course, clap for you guys for staying until the end. And I guess clap to see if you win the giveaway. I'll give you a clap if you win the giveaway. You know, everyone else is also giving a clap for you if you win the giveaway.
Event Gratitude
So, and, oh, also, thank you, orderly, for sponsoring this giveaway. hope to see more of these AMA's and talks discussions and more giveaways for you guys as well for listening to all this. All right, let's do a few more claps. I'm going to pick, I did something cheeky for the first minute or two during the start of the AMA, actually, the screenshot of who joined first.
Winner Announcements
So I'm gonna see if they're still here and I'm gonna pick from them first. So let's see. All right, pull up. All right, so let me see. Is Jackson is still here. He's been here since the start. All right, congratulations, Jackson, Sonia, kiddo, I love to reward all the, you know, supporters of the AMA. You guys are doing the best because you're giving support to us.
Supportive Community Engagement
You're also giving support to our guest speaker and guest project. So thank you, Jackson, for joining in early. Let's see anyone who else joined early. Is Twocent still here? I think I saw him. Twocent? Yeah. Twocents. Congratulations. Thank you for joining early as well. And I'm gonna pick one more person who also joined early.
Recognition and Participation
Let me see. Are they still here? Just going through the names. I see another person who's still here. Congratulations to the dog. I've regularly seen you as well. So thank you for joining. For everyone else, please make sure you guys join our AmA's early and make sure you guys stay until the end because I do favor everyone who, you know, supports our guest speakers and us as well.
Final Winner Selections
All right, last two. Let me pick the last two winners. Let's see. Let's go with Finn. Hans Dazara. Hans Dazara. And last but not least, one more winner. Let's go with Tolga. Tolga. Ozeki. Congratulations, all. And any final words, Arjun, before we end this ama?
Closing Thoughts
No, just once again, I would just say thank you for having me. Thank you for being such a great host. Thank you to the Bingx community for joining and being so active and staying until the end. Really, really appreciated being extraordinarily great families together and great friends, too. So, yeah, looking forward to coming on soon.
Future Collaborations
Thank you so much. Love it. Love it. Looking forward to our next talk as well. Would be a banger, I'm telling you. All right, thanks so much, guys. We can talk more about the new features and what you can talk about. We'll have more things that next month. We'll have more things I can't talk about. Don't worry about that.
Plans for Continued Engagement
All right. I mean, that means we just have to keep doing more ama. Wow. Good to me. Awesome. All right. Thank you so much, Arjun. Thank you. Orderly. Thank you, everyone for joining today and have a great day and I'll see you all next time.
