Alisa Davidson
Published: August 26, 2024 at 4:07 am Updated: August 26, 2024 at 4:07 am
Edited and fact-checked:
August 26, 2024 at 4:07 am
In Brief
Crypto exchange Bybit introduced the omnichain liquidity layer Orderly Network as the latest project on its launchpool.
Cryptocurrency exchange Bybit announced that it has introduced the omnichain liquidity layer Orderly Network (ORDER) as the latest project on its launchpool. This allows users to participate by staking ORDER, USDT, or MNT in exchange for a portion of 9 million ORDER tokens. The staking event is currently underway and will continue until 10 AM UTC on September 2nd.
The launchpool includes three distinct pools, encompassing ORDER, USDT, and MNT. The ORDER pool provides a total reward of 2.7 million ORDER tokens, with a minimum stake of 300 ORDER and a maximum of 200,000 ORDER.
The MNT pool offers a total of 1.8 million ORDER tokens in rewards, requiring a minimum stake of 100 MNT and a maximum of 5,000 MNT.
Furthermore, the USDT pool has a total reward pool of 4.5 million ORDER tokens, with a minimum stake of 100 USDT and a maximum of 2,000 USDT.
Users can unstake their assets at any time. However, no yield will be earned on the day the staked tokens are withdrawn. VIP participants will receive an additional 20% Annual Percentage Rate (APR) on their rewards.
The ORDER token is scheduled to be listed on the exchange at 10 AM UTC today. Deposits are already available, and withdrawals will be enabled starting at 10 AM UTC on August 27th, with transactions supported through the Ethereum network.
Orderly Network And ORDER Token: A Short Guide About It
It integrates an order book-based trading system with a liquidity layer that supports both spot and perpetual futures order books. Unlike conventional platforms, it serves as a fundamental component within the ecosystem, offering critical services to integrated projects.
Central to the Orderly Network ecosystem is the ORDER token, designed to decentralize the protocol, drive network growth, encourage user participation, and maintain the platform’s economic stability.
As per the ORDER tokenomics, 1 billion ORDER tokens will be issued at the launch. Of this amount, 55% will be allocated for ecosystem development, 20% will be distributed to the Orderly team and advisors, 15% will be reserved for strategic investors, and 10% will be held in the Orderly Foundation treasury. Additionally, 13.3% of the total supply is earmarked for an airdrop.
Disclaimer
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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.
More articles
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
And in conclusion, as we delve deeper into the world of decentralized finance, projects like Orderly Network by Bybit provide an exciting glimpse into the future of blockchain and token economies. With the introduction of the ORDER token and the staking opportunities it presents, users have a chance to engage actively in network growth and governance. Stay tuned to DeFi Daily News for more trending articles and updates on the latest developments in the crypto space!
