NEW YORK, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Orderly Network is pleased to announce a strategic partnership with Very Long Swap (VLS), a Japanese-based decentralized exchange (DEX) builder.
Very Long Swap, a prominent DEX built on Astar zkEVM, is inspired by the popular Japanese NFT project, Very Long Animals. With permission to utilize the IP from Very Long Animals, VLS offers a platform for swaps, farming, and staking opportunities, catering to one of Asia's largest and most diverse Web3 communities.
According to a Skyquest 2024 -2031 forecast analysis, the Asia-Pacific market is expected to experience the fastest growth in Web3, driven by the financial and banking industry’s growing adoption of blockchain technology and Web3-based digital solutions. This is further exemplified by ongoing development of the Japan Open Chain (JOC), an EVM-compatible chain with numerous major Japanese tech, banking, media giants, and platform partners serving as stablecoin issuers and validators to the network.
This strategic partnership will enable VLS to build the first-ever perpDEX specifically designed for the Japanese market, developed by Japanese-based builders. Future plans include listing a USD/JPY FX perpetual contracts asset pair, as well as integrating with the JOC Chain to deliver innovative DeFi solutions.
“Having a PERP feature in a Japan-based DeFi project is quite rare, and considering future integration with stablecoins, there's only hope for market expansion. We are honored to partner with Orderly and collaborate with VLS users at a high level! Many users are eagerly anticipating the PERP release, and we can’t wait to see it in action,” said Takahiko Kojima, CEO, Very Long Swap.
Orderly Network offers a truly omnichain trading solution, aggregating orders from multiple chains into a single unified orderbook. This approach enhances trading efficiency, improves liquidity, and tightens market spreads for any asset across any trading venue. Powered by the Orderly Chain and Layerzero technology, Orderly provides seamless, permissionless liquidity infrastructure for over 20+ DEX platforms and brokers built on the network.
With support for six chains—Polygon, Arbitrum, Optimism, Base, Ethereum mainnet, and Mantle—VLS traders can access a shared orderbook, with all trades settled on the Orderly Chain, unlocking efficient cross-netting capabilities while maintaining the autonomy and transparency of DeFi.
Since launch, Orderly Network has recorded a cumulative trading volume of $80 billion, with cumulative net fees exceeding $10 million and ATH milestone of $1.8 billion 24hr trading volume as of Aug. 23rd according to data from Dune Analytics.
“Partnering with Very Long Swap, a popular DEX in Japan and elsewhere in Asia, is a significant step in our mission to bring seamless, omnichain trading to the forefront of global markets. By integrating omnichain trading with groundbreaking financial products, we’re enabling Japanese traders and builders to access unmatched liquidity and efficiency. We are eager to see how this collaboration will drive the next wave of DeFi adoption in one of Asia’s most vibrant digital economies," said Ran Yi, Co-founder of Orderly Network.
Orderly previously announced its introduction to the Asian market with renowned fintech powerhouse, Slash Finance. This integration with VLS further compounds Orderly’s footprint in the Asia market, bringing the most Web3-friendly region to the forefront of DeFi’s evolution.
About Orderly Network
Orderly Network is a permissionless liquidity layer for Web3 trading. Built on omnichain infrastructure, Orderly enables deep liquidity for any asset across multiple blockchains. Focused on a future of DeFi that's open to all, Orderly empowers developers to fluidly create a comprehensive array of financial products for any level of trader, without the risks of wrapped asset movement through cross-chain bridging.
Learn more at orderly.network
For PR enquiries related to this release, please contact pr@orderly.network
