Space Summary
The Twitter Space How to Master Meme Coin Trading? hosted by BitgetWallet. Delve into the world of meme coin trading with a focus on leveraging Bitget Wallet's support for over 100 public chains like TON and SOLANA. Explore the risks and rewards of meme coin trading, emphasizing the importance of Web3 features and staying informed about market trends for success. Discover how embracing new chains can offer unique trading advantages and learn essential risk management strategies to navigate the volatile meme coin market effectively.
For more spaces, visit the Trading page.
Questions
Q: How does Bitget Wallet enhance trading flexibility?
A: By supporting over 100 public chains, Bitget Wallet broadens trading options and versatility.
Q: What are the key considerations when trading meme coins?
A: Traders need to manage risks associated with high volatility and stay updated on market trends.
Q: Why is understanding Web3 features important for traders?
A: Web3 capabilities provide advanced tools and opportunities for crypto trading activities.
Q: What advantages do emerging public chains like TON and SOLANA offer?
A: These chains bring unique trading potentials and advantages to investors.
Highlights
Time: 00:15:27
Bitget Wallet's Multi-Chain Support Discover the benefits of trading on multiple public chains for increased flexibility.
Time: 00:25:44
Risk Management in Meme Coin Trading Learn strategies to mitigate risks associated with the volatile nature of meme coins.
Time: 00:35:02
Exploring Web3 Trading Features Unveil the power of Web3 tools for optimizing trading strategies in the crypto market.
Key Takeaways
- Bitget Wallet provides support for multiple public chains, enhancing trading versatility and options.
- Exploring meme coin trading strategies can yield high returns but also poses risks due to market volatility.
- Understanding Web3 trading features is crucial for maximizing opportunities within the crypto space.
- Embracing emerging public chains like TON and SOLANA can offer unique trading advantages and potentials.
- Risk management and staying informed about market trends are essential for successful meme coin trading.
Behind the Mic
Introduction
Close. Subscribe our channel it. Hello, everyone. Welcome today's space. My name is Shazi. I'm part of the social media team here at Bybitzen, and thank you very much for joining today. Today we have orderly network with us, which they are going to take us through. Everything that they have coming up and all the exciting updates that they will share with us. I believe we have ran with us today. Do you want to introduce yourself to everyone?
Ran's Introduction
Thank you. Great to be here today. I'm ran, co founder of Orderly Network. Great to be here. My background, I had ten years in traffic in the US and in Asia, and then we first started woo network back in 2019. So that was kind of the first project we had, which is centralized and decentralized exchange, and I led everything on the defi side and got heavier into Defi and incubated orderly. Great to be here. Okay, fantastic. Thank you so much, Ron. Sorry, quick question. Is anyone else joining us or it's just you at the moment?
Discussion on Attendance
Just me. Okay, great. Perfect. Great. I think we can sort of jump into it. So could you share with us a little bit of background about the orderly network and just kind of a quick introduction about it? Yep. So we're big believers in decentralized and open finance. Orderly wants to allow anyone from anywhere in the world to trade any asset through any app. And we think this should be done via an order book, which is what we built, an order book that's shared between different blockchains. Currently, it's.
Orderly Network's Vision
It's seven blockchains. It will be eight very soon. So EVM, non EVM blockchains shared one order book, not fragmented liquidity, but unified. And users should be able to access this liquidity via any type of app they're dealing with, whether it's a wallet or a game or an Amm spot, Dex, or any other app. And then there should be any asset listed in a permissionless way. So that's what we're trying to achieve at orderly, and that's kind of the vision for the future. And so. Yep. No, no, keep going. Yeah, a few numbers. So, you know, to achieve that vision, we've again unified liquidity via order book between seven different chains, moving on to eight.
Orderly Network's Achievements
We traded about $82 billion in total volumes since we launched on EVM last year. These days, volumes around 100 million, sometimes more per day, across 50 plus perpetuals markets orderly. And everything's in our dune, by the way, as we try to be as transparent as possible, orderly has generated about 7.5 million in fee income where the builders on top of orderly, which are the access points for traders, have generated about 11 million in total revenues. We have about almost 300 unique wallets that has interacted with orderly.
Token and Staking Information
And, you know, obviously the token is live listed on Bybit, and trading about 20 million ish in spot volumes across all exchanges. And orderly has a staking, which is order token staking, which is the method of value capture for holders. Where orderly gives 60% of net revenues to stakers on a daily basis, it's accrued in the treasury. And then stakers can swap what we call valor, basically state their staked order for that treasury whenever they want. And there's about 56, almost 57 million order tokens staked in the treasury, which is about more than one third of the circulating supply.
User Benefits and Use Cases
Okay, awesome, great. So also, can you kind of tell the users who are unsure, who can actually benefit from the development side of orderly's liquidity platform? And what are some of the use cases that you can probably tell them? Right. So again, our objective is to have anyone in the world trade any asset via any app, right? So we actually reach users through our partners, which build on top of orderly. Now there's 20 plus builders on top, currently, the largest one being Wu Fi, which is a, it's a full functioning Dex with spot perps staking and such.
Ongoing Developments and Partnerships
And they're like the largest builder on top. There's a few perps aggregators like Logx, VuI, Bittoro, that have integrated orderly liquidity. There's guys like Quickswap, that's the largest amm on Polygon. Their perps on top of orderly, you know, ox markets, is a meme coin focused perpetuals. On top of orderly, there's trading tools like Teal street, Funai. These are also on top of orderly. So there's 20 plus builders, and they're reaching different traders from all over the world in different ecosystems, right? There's one sound like mantle arbitrum, optimism.
Future Expansion Plans
We're actually going to soon launch on Solana, which opens up a new world of traders. So then the traders access orderly through these builders, or we call brokers on top, and they're accessing the liquidity for orderly. And the liquidity currently is provided by world class market makers. There's about 30 plus quoting, very tight markets on orderly. So for, like, bitcoin, sol eth perpetuals, 50 plus markets send orderly matches, the takers and the makers on orderly matching engine. And everything is settled on the orderly chain, which is, it's a layer two, it's a roll up built using op stack rolling to ETH and using celestial da.
Expanding Trading Infrastructure
So basically orderly benefits all types of trading infrastructure. Who wants liquidity for perpetuals? And of course their traders and we as, so we have more and more builders on top of orderly that are servicing more and more traders where we have 50 plus assets listed on orderly and that's increasing and we're targeting to make that as permissionless as possible for the listing process. So then we'll have many markets like thousands of markets ideally that will be on orderly servicing anyone with trading needs.
Getting Started with Orderly Network
Okay great, good to hear. That's amazing. Could you also share, how does like a user get started with the orderly network? Sure. So if you're a trader you can go to orderly.net work which is our website, and you can go to trade. There's a button called trade on orderly and that lists all the different brokers on top of orderly and there's 20 plus of them. So once you're there you can see like bittorl, quick perps, Wufi, Sharp AI, Logx, a lot of them, any one of them, you can actually access orderly liquidity.
Using Orderly's Trading Platform
So you can trade, so you can just pick whichever one that you like and try it out and use it. And then you access orderly's liquidity through that front end. If you're a trader and if you are like interested in the token, obviously you can buy it on bybit and you can stake it. And also on orderly.net work there's a staking page where you can, oh by the way, if you're trading on any of the orderly powered Dexs, then you're automatically eligible for order token rewards. Based like based on every epoch, right?
Trading Rewards System
Every epoch we have, we just finished the first epoch and now we're on the second epoch. Every epoch is two weeks and you're trading, you're potentially earning, you're splitting a pool of, the pool is at 1.5 million order tokens for each epoch.
Token Rewards and Trading Incentives
Currently later epochs the token amount will go down, but you're earning the order tokens and you're potentially earning rewards from the brokers on top, right? Like you're trading on BitTorrent, they're pre token, so there's a bunch of incentives that they're offering so you can potentially earn double rewards. If you're trading on a Dex on top of orderly, so that's on the trading side. And then once you have these tokens you can go to our staking page app dot orderly.net work staking. You see, there's 56 million order tokens staked already. The APR is 27.5%. That's a floating APR. It's updated daily. So then daily or basically orderly. So when you're trading, the fees go to orderly and the brokers, and then actually 60% of that goes back into the treasury under our staking.
Value Capture for Token Holders
So as a token holder, if you're staking, you're eligible to a piece of that treasury which is calculated on a daily basis. So that way we're trying to give as much value capture to the token holders and to the ecosystem in general, so that there's value captured there and that the token is actually useful. I mean, later on the token will be used for other things like governance, but this is a very direct way to get value capture to orderly. So these are essentially the two ways that you can interact directly with orderly, by trading and by utilizing the token and you get rewards for trading, you can stake the token and then everything else. We're very happy for you to join our discord, our telegram understand to have a conversation with some of our team and get to know the project more.
Community Involvement and Roles
You know, we're going to open up many different roles for community members who are interested in orderly all types of roles and bounties so that people can partake in the orderly ecosystem if they want to. As we, you know, we want to be, you know, we're open infrastructure and we want as much involvement from community members as possible who are interested in what we're doing and who believe in our mission. And will orderly explore additional emerging technologies or protocols. And how does the team plan to further expand support for its cross chain liquidity pools? Yes, so we, so again, we want to allow anyone to trade anything via any app, which is any chain.
Chain Support and Omnichain Functionality
So we're ecosystem and chain agnostic. We want to expand to any chains that have users with trading needs. Currently we're on seven different chains, arbitrum, optimism, polygon, base, mantle, Ethereum, mainnet, and also on near which is where we started. And we're soon be supporting Solana and we'll be the only, I believe the only order book that supports Solana and EVM together. So we announced that we're going to be launch partners with Monad. So then any of these chains that have large communities that want to trade, we will be integrating. I think it's safe to say that. And it's one shared order book between the chains.
Cross-Chain Messaging and Order Book Management
So we actually do that because we're leveraging cross chain messaging technology by Lyer Zero. And we're actively looking at other technologies as well that allows us to support all the other large chains. And we have our own chain that settles, this is an orderly chain that settles all the other transactions via all these different traders from different chains. So you can expect us to. I mean, I think that the technology is actually quite advanced in that we're omnichain by default. Even the token, our order token, it's not just an ERC 20 in its basic form it is, but it's also an oft that makes it omnichain by nature.
Interacting with the Order Token
So you can, when you're interacting with orderly token, you can bridge it to different chains via Stargate, which is incubated by layer zero. And you can claim rewards from any of these chains, and you can stake the token from any of these chains. So that, so it's omni chain token. And on any of the chains that orderly is on, basically the token will be on. In addition to this, we're exploring many different things in terms of like matching engine. We're exploring ZK solutions for matching engine.
Future Developments and Products
Our CTO actually wrote a white paper about it that's published on the street. That will increase scaling in a trustless way for the matching engine. We also have many cool products coming out this year, like vaults, like strategy vaults and listings, permissionless listings and such. So please keep a lookout on that and we'll have more details about that pretty soon. Okay, and who would you say, like, are some of your competitors and what edges do you have over them in the market? Yep, I think we don't have, there's no one that's doing what we're doing now.
Unique Position in the Market
Like this omnichain order book infra that wants to allow anyone to easily access from any chain. If you look at pieces of what we're doing, like in the perpetual space, there's obviously competitors there from like DyDX Hyper Liquid and such, and then just omni chain defi. There's some there. But I think for what we're trying to accomplish, I don't, haven't seen any competitors in terms of like order books. They're mostly single chain order books that we see. And. Yeah, so I think, and I think generally speaking, the space is so early, especially perpetuals, which we think will be much bigger and by magnitudes bigger in the future given where it's compared to CFI and generally just tradfi assets haven't even touched this space, which I think it will.
Goal of Accessibility and Inclusion
So we really want to get orderly to a position where it can actually list any asset traded easily and fully accessible from any chain, any app. So essentially any asset accessible by anyone in the world. So that's what we're trying to get to. And I think we're just so early that we support and welcome everyone in this space to work towards that type of goal. And just the composable nature of defi interoperable. We're happy to work with more defi protocols than compete.
User Experience and Passive Income
Okay, great. Just to remind our users that we do have an event now with orderly, you can unlock some amazing rewards just for participating. And they're all available in the link in our post, which I will pin to this space. You should be able to see it now at the top of the space, go into the post, you'll find the link to the bybit page where you can join in and win some amazing prizes. So don't forget. But yeah, to continue, what network are you guys on at the moment? Yep. So as we, as I said a bit earlier, so we're on six EVM chains now.
Current Networks and Audience Insights
Polygon, arbitrum, optimism, base, mainnet and mantle on Nier as well. And going to Solana. That's coming up very soon. And which one do you think, in your opinion, is the best at the moment? Which works best for you guys? I think each one has their own audience. Right. Which is kind of the beauty of what we think. I mean, we believe in the omni chain future, right? Like, you know, Mantle has a lot of yield generating assets, which is interesting and it's good at. Arbitrum sets a lot ton of defi users, Solana as well.
Unifying User Experience Across Chains
And like base has a lot of retail. So it, I think each chain has its user set from different geos and we unify them together with one order book. And that, I mean, that's what we're trying to do. So the whole experience at the end of the day needs to be like bybit essentially, where you can just deposit and withdraw. You can already do that now with orderly, any orderly power, Dex, you can deposit and withdraw from any of these chains seamlessly like you would in a centralized exchange and just trade. And it's Defi. So that's the experience that we want.
Bringing CFI Experience to DeFi
Just bring the DeFi experience, the c five experience to Defi. Awesome. And as retail users, can people just kind of earn passive income from your project? Yes. So if you have the order token and you can either buy some bybit or you can earn them by trading on any of the orderly powered dexs, any 20 plus of them. And then you can earn tokens or you can buy some and you stake it on our staking page again.
Staking and Revenue Generation
So there's 56 plus million order tokens staked. You're staking to earn order debt revenues. Right? So we give 60% of the net fees. We're starting off 60%. Eventually we want to get to, you know, as high as possible a 60% to a treasury which accrues every single day. And as a staker, you get what we call valor, which are kind of like points equivalent to the treasury. And you get that and you can swap that in for the treasury whenever you want. And there's like a few days of vesting period, and then you would get the what's in the treasury, which is just USCC, because orderly is accruing fees in USCC. So this is happening on a daily basis. And you can accrue. You can stake and accrue and unstake if you want. Right. So that's passive income. The APY, it changes every day, but it's sitting at like 27.5% currently.
Upcoming Developments
Now you can. So what's coming up is more. It's also pretty interesting. We'll have vaults coming up that you can actually deposit, like stables and earn income generated by some of the traders on the platform. A bit like coffee trading, but that's coming out. So that's not a live yet. Awesome. And could you share, like with us, some of the milestones that you guys have achieved so far? Maybe something noteworthy? Sure. So I mentioned before, we actually traded 81. Well, including the Nier instance, over 80. $82 billion in cumulative volumes. Orderly has. And on the EVM side, which is most of their volumes, over $81 billion and accumulative builder fees. So our partners who build on top of us. And that's like the beauty of Defi, right? The composability of Defi. The partners, 20 plus partners on top of us, they've earned $11 million to date.
Achievements and Growth
So that's in the span of like ten months ish, because we launched on UVM in November. So rough, I guess roughly a million a month in revenues. And, you know, we have like 50 plus. We actually have pretty big for DeFi, 50 plus full time staff across the world, mostly product and tech, but also bd marketing ops and such, which we're very proud of. We. We have our own chain, the orderly chain, which is settlements across all the Dexs and their traders. And the chain is actually the second largest user of layer zero messages. And it's processing at its peak, like 20% of layer Zero's process messages. Now, it's lessen, but it's a pretty large consumer of layer zero. And also, given that it's using Celestia for data availability, it's actually, now it's about 20% of all the blob space, essentially all the data availability that Celestia offered, 20% of it.
Data Processing and Blockchain
So it's processing a ton of data and publishing it on the blockchain. So, I mean, that's kind of our chain in a nutshell. And we need to have this because it's a source of truth. It's kind of like the centralized servers and databases of centralized exchanges, but it's on chain, right? So that's why we have the chain, the orderly chain. And, you know, we, you know, we launched the token on bybit and other exchanges on the 26th, which is about two weeks ago. And since then, you know, we have like 56 million order tokens staked. You know, we had, we gave out 113%, over 13% as airdrop to the users. And I think about 70k addresses actually claimed Airdrop and orderly. The token has over 30k on chain holders. You know, 156,000 total transfers just on the Ethereum network already. So quite a bit of activity for us and, you know, a bit of fundraising info.
Fundraising and Vision for the Future
Back in 2022, we actually raised $20 million in funding by some of the top crypto players in the world, like Pantera Capital, Dragonfly, jump crypto, and a bunch of exchanges and builders. So, I mean, in terms of that, I think we always wanted to. We always thought about the future of orderly as the platform that allows anyone to trade anything from anywhere. And we thought about who should be a part of that platform and adding value and extracting value, obviously. And that should be the traders of the world, right? So, and some VC's that are very supportive and hodlers, the traders. So we have a bunch of traders who, some of which are trading on orderly today, like traders like jump, Kronos research, and, you know, GSR, these types of traders who are providing liquidity and builders.
Collaborations and Ecosystem Growth
So we had guys like radium, who was an investor, like dodo, so builders and like infrastructure like Cobo on the custodian side, that and exchanges, right? Some exchanges also built on top of orderly their dexs and more recently, you know, kols from around the world and more strategic investors like NFL trading, presto Labs, these guys. And that's kind of the future that we envision right. If we're able to achieve this vision of trading any asset from anywhere, any chain, and allow anyone in the world to access it. And these are the people that really we'd want to be in the ecosystem and who can really add value and help the entire ecosystem grow right into it, lead it total decentralization and have a very sustainable ecosystem so that we're very proud of all the people involved because it takes a lot of people to accomplish this vision.
Community Engagement and Roadmap
Okay, fantastic. That's really great to hear. It looks like you guys have, like, everything working out for you at the moment. And of course, congratulations on the trading volume. Looks very promising at the moment. I'm going to take like some community questions. I see some questions coming in the comment section here in the space, but also we had some questions submitted by our users from Telegram. So I think because there's quite a lot and some of them are a bit repetitive, I'm just going to pick two from each, if you don't mind answering them. Yep, yep. So here's an interesting one from our users from Telegram. How does the order team plan future developments and the roadmap of the project? As in, what are some things that users should be looking forward to?
Future Developments and Accessibility
Yep. So again, aligning with the vision of letting anyone trade anything from anywhere. So what that entails is 150 anywhere, right. So easy accessibility from any blockchain. Now we're on seven, we're going to be on Solana and then more in the future. So that's something that you can certainly expect. And the trading anything part, that's something that we're designing and figuring out, basically more, permissionless listings. Right. and so to be able to trade anything, because theoretically, for perpetuals, that's possible, to be able to trade anything because you're using, you can essentially use any number of assets as collateral. And as long as there is a, some version of an oracle, the market can be developed.
The Importance of Liquidity
As long as there's liquidity. So that's something to be. To be looking forward to. And for that to happen, there has to be liquidity. So then liquidity has a cost in terms of people searching for yield. So then we have product. So that's like the vaults. I was talking about products coming out to allow those who want to trade and who are good at trading to be able to obtain capital. You know, it's going to be confined within the orderly ecosystem, but to be. To be able to obtain capital and anyone searching for yield, to be able to passively provide liquidity in exchange for yield in a safe manner.
Optimizing Capital and Yield
Right. So then that is, that will optimize, you know, those searching for yield and those wanting capital to trade. And that will allow the tightest order books. Right. And liquidity to be available for any asset when permissionless listing is implemented. So these are all in line with what we're trying to achieve, which is not anyone to trade anything from anywhere.
Community Involvement and Engagement
Yep, we have a very active community now on Discord and Telegram. We, you know, we just tg two weeks ago and we certainly want to involve the community more in everything from decision making to different aspects of the ecosystem. Right. So you will see many initiatives coming out which represent bounties for doing all types of things, from generating content to distribution of content to helping with growth like business development.
Responsibilities for Community Members
And all of that are going to be responsibilities that community members can take on. We're also, you know, we're always looking for talented people. So you can always shoot messages DM's to me or within the community, and to be able to get a response if you're interested in working with us. So these are all types of things that you can explore, whether on a full time or part time basis. Yeah, you can definitely. You will definitely see community initiatives coming out very soon that can allow members to partake into all aspects of orderly.
Decentralization and Governance in the Future
I think eventually, as we decentralize more and more of orderly, you can expect to see governance, which is something that we've mentioned before, but the government as governance will determine some of the key aspects of the protocol, like listings or reward pools and things like that. You can expect that, but it's not there yet. But we start with different roles, incentivized roles for community members to help orderly grow.
Active Engagement with the Community
We are. So we have a lot of, you know, we have a lot of. Please, yeah, give us a follow on our Twitter. It's just orderly network and my DM's are open and we're actively posting and you can comment. We'll check it. I think the best way to engage is just to come in our discord or telegram.
Thoughts on DeFi
I do. I mean, that's why we're in this space. A big believer at DeFi. I mean, it's actually, it's not that hot currently in this cycle, but I truly believe that DeFi will disrupt, call it disrupt, the entire financial space because of a few reasons. One, it's trustless, right? Building on trustless blockchains. I mean, there's actually no reason when I see tradfi infrastructure and there's a lot of settlements and, you know, auditing and such, that it shouldn't just be done on the blockchain, which is already trustless.
The Impact and Infrastructure of DeFi
So I think a lot of that should. The county of assets and such and costs will be drastically lowered due to the amount saved by doing this, instead of having multiple parties reconcile numbers. And that's also the case with compute, right? Given that blockchains are scaling fast with layer twos and different layer ones, that a lot of infrastructure can just be put on chain and eventually even matching engines, which is something we're trying to figure out, especially with ZK technology.
The Composable Nature of DeFi
And the fact that DeFi is very composable, interoperable, that people can build things easily on top. I mean, the problem you see with CFI now is that, you know, the centralized parties, they don't really work together and they don't really compose. Everyone keeps data to themselves and liquidity and yield. But in DeFi, things, if done well, everything composes from liquidity to the yield to everything.
The Future of Finance with DeFi
And the permissionless nature of DeFi I find very interesting as well. So that there's not just gatekeepers that are for listings and such, but anyone can potentially easily list an asset and just create an asset in a very easy and seamless way. And I think that's kind of where it's all going. Finance is all going, and the cost of everything would drastically go down. You see, DeFi teams have way less people than C five, right?
Final Thoughts on DeFi's Potential
And for us, we have like 50 people, and that's like a very big defi team. But it's not for C five. So as that progresses, I can see Defi being like default infrastructure for crypto and even tri fi real world assets in the future. And you can have one platform or platforms that you can trade anything, whether it's like commodities, FX, crypto, prediction markets, and would have very good liquidity for all of that's contributed by anyone, and it's accessible by anyone as well.
Conclusion and Community Engagement
Thank you so much. Ran for your time and thank you for your entire project. It seems very exciting and looking forward to what you guys have for us in the future. Is there anything else you want to let our users know before we end the space? Thank you. Thank you all. And please again, the community is the most important thing we have. So please join our discord or telegram. Give me a ping.
