On Arbitrum, the Layer 3 infrastructure network Orbs announced a partnership with Chronos, a significant decentralised trading platform. The dLIMIT and dTWAP protocols from Orbs may now be used by Chronos traders to execute sophisticated deals.
dLIMIT and dTWAP protocols
DEXes can now issue limit orders thanks to the Orbs dLIMIT protocol. The price at which traders want to purchase or sell tokens can be specified. The protocol guarantees the agreed-upon price but not the order’s execution. The latter will rely on how favourably the asset price changes during a specific period of time.
However, dTWAP makes it possible for decentralised, time-weighted orders. Larger orders may be divided into smaller transactions carried out over a specified length of time using this algorithmic trading approach, minimising market effect and facilitating the best asset purchase.
These protocols have been used into a number of significant DEXes, including as QuickSwap, SpookySwap, and Thena, enhancing Orbs’ standing as a DeFi developer and showcasing the capabilities of Layer 3 technology.
About Orbs
L3 infrastructure was first introduced by the protocol known as Orbs, which is operated by a public network of permissionless validators utilising a proof-of-stake consensus. It expands the capabilities of EVM smart contracts, opening up possibilities in DeFi, GameFi, NFTs, and Web3 with over $100 million in staked total value locked. Six DEXes across four blockchains have adopted the dLIMIT and dTWAP protocols from Orbs, demonstrating the industry’s growing acceptance of these technologies.
The team behind Orbs, which was formed in 2017 and launched its mainnet and token in March 2019, is based in Tel Aviv, London, New York, Tokyo, and Seoul. The Orbs Network’s capacity to act as a “decentralised backend” is expected to further transform the blockchain stack and open up a wide range of opportunities in the DeFi, NFT, and GameFi sectors.
