Layer 3 liquidity protocol Orbs has launched Perpetual Hub, a comprehensive solution for perpetual futures trading onchain. Before now, leading solutions in the market used an order book or virtual liquidity mechanism, which lacked capital efficiency. Perpetual Hub provides a full suite of tools that empower traders to extract maximum value from on-chain perps using an intent-based model.
Developed in collaboration with SYMMIO and IntentX, Perpetual Hub utilizes Orbs’ advanced L3 technology to give traders the tools they need to trade perpetual futures on-chain with CeFi-level execution.
Ran Hammer, VP of Business Development at Orbs added, “This launch opens a door that has previously served as a blocker for people in blockchain. Perpetual futures are significantly more popular than spot trading, and we now offer the best solution for perpetual traders on-chain. We’re eager to continue fostering our reputation as lead experts in DeFi and web3, helping bring the world on-chain!”
Perpetual Hub supports on-chain perpetual futures trading, benefiting entities ranging from traders to market makers. The service comprises three spokes: Hedger, Liquidator, and Price Oracle.
Hedger is a market maker that utilizes a SYMM-powered front end and provides liquidity by filling user orders. As the counterparty to trades, Hedger can leverage external liquidity sources, including centralized exchanges like Binance, for unparalleled liquidity.
The second component, Liquidator, enables users to liquidate a trader’s position, should the collateral value dip below the maintenance margin threshold. Liquidators can earn a liquidation fee as remuneration for providing this service.
The third strand of Perpetual Hub, Price Oracle, provides reliable on- and off-chain data to ensure accurate pricing, which is critical for perps trading. Price oracles are essential to provide uPnL (unrealized profit and loss) for accounts, identify liquidations, and support accurate order execution. A reliable and robust price oracle that is fully decentralized is essential for the core functions of Perpetual Hub to run smoothly.
All three software solutions leverage the power of the decentralized Orbs Network, with its Guardians and proof-of-stake ecosystem, to allow platforms, market participants, and other third parties to provide and operate a suite of decentralized services for perpetual futures trading.
The total value locked (TVL) in on-chain derivatives stands at $3.4 billion, a fraction of the DeFi market’s overall TVL of approximately $100 billion. Perpetual Hub has the potential to enhance every aspect of perpetual futures trading, from pricing to order execution. The enhancements will help to increase trust in the onchain perps markets, grow TVL, and provide a safer and more user-friendly trading experience.
About Orbs
Orbs is a decentralized Layer-3 (L3) blockchain infrastructure designed specifically for advanced on-chain trading. By bringing CeFi-level execution to DeFi, Orbs optimizes trading with aggregated liquidity, advanced trading orders, and on-chain derivatives. Orbs enhances the capabilities of both EVM and non-EVM smart contracts without moving liquidity onto a new chain. This one of a kind setup acts as a decentralized backend that brings CeFi-level execution to DeFi trading.
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