rewrite this title Bithumb Lists Orderly Network’s ORDER, Token Surges By 90% After Trading Launch

by
Alisa Davidson

Published: December 03, 2024 at 6:29 am Updated: December 03, 2024 at 6:29 am

by Ana

Edited and fact-checked:
December 03, 2024 at 6:29 am

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South Korea’s second-largest cryptocurrency exchange, Bithumb, announced that it has listed Orderly Network‘s ORDER token on its KRW market, with trading commencing at an initial price of 239 Won. Deposits and withdrawals for ORDER are now live, providing users with full access to the token’s market activities.

Bithumb has issued a precautionary advisory, urging users to double-check address systems and network details to avoid errors when making deposits. The exchange highlighted that refunds for incorrect deposits may face significant delays. Only the Ethereum network is supported for ORDER trading, and deposits through other networks will not be processed.

Following the listing announcement, ORDER’s price surged by 90% to reach $0.3082 before settling at its current trading value of $0.2641. The token’s 24-hour trading volume soared by 513%, surpassing $144.43 million. Additionally, the token’s market capitalization grew by 59.6%, climbing to $55.65 million, according to data from CoinMarketCap. 

What Is Orderly Network And The ORDER Token?

Orderly Network, a cloud-based liquidity infrastructure provider, is redefining the decentralized finance (DeFi) landscape by facilitating cross-chain trading via a unified and shared orderbook on its proprietary Orderly Chain. This infrastructure delivers enhanced liquidity efficiency, streamlines trading performance, reduces bid-ask spreads, and offers access to a diverse range of markets. By providing a single, integrated platform, Orderly Network serves the needs of developers, traders, and exchanges.

At the heart of this ecosystem lies the ORDER token, which is designed to decentralize the protocol, promote network expansion, encourage user engagement, and ensure the platform’s economic stability. The token’s functionality is deeply ingrained within the platform to create a synergistic growth loop, fostering adoption while aligning stakeholder interests. Its utilities include governance rights, earning VALOR, boosting trading rewards, and optimizing market-making rewards. 

The total supply of ORDER tokens is fixed at 1 billion. ORDER’s tokenomics allocates 55% of the supply to long-term incentives for key ecosystem participants. This includes 13.3% for a retroactive airdrop, 15% for trading rewards, 10% for market-making incentives, 8.35% for builder rewards, and 8.35% for future product launches. Additionally, 15% of the token supply is reserved for strategic investors, 20% for the team and advisors, and 10% for the foundation. This strategic distribution underscores Orderly Network’s commitment to fostering sustainable growth and incentivizing ecosystem participants.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles