Value

DeFi

Orbs

Fenix Finance

Layer 3 blockchain Orbs has launched its liquidity hub on Blast-based decentralized exchange (DEX) protocol Fenix Finance. 
The Orbs team announced the development on Thursday, noting that Orbs Liquidity Hub deployment will help to boost liquidity and capital efficiency for Blast users. 
<h2 class="wp-block-heading" id="orbs-liquidity-hub-is-live-on-fenix-finance">Orbs Liquidity Hub is live on Fenix Finance</h2> 
Orbs Liquidity Hub integration with Fenix marks the fifth deployment of the solution on decentralized exchanges operating on EVM blockchain networks. However, Fenix is its first expansion to a Blast-based DEX. 
In operation, Orbs Liquidity Hub will function as a layer on top of the Fenix Finance DEX, and leverage multiple liquidity sources to offer best possible pricing for the DEX’s users. The key benefit is reduced slippage, with traders able to extract the most value from their trades. 
Orbs also helps cut transaction fees for users by providing a solution to issues of fragmented liquidity across the DeFi market. Users can leverage these features to protect against Maximal Extractable Value (MEV) as well as access gas-free transactions. 
“By merging liquidity from both on- and off-chain sources, Liquidity Hub delivers an enhanced trading experience without introducing custodial risk,” the Orbs team said in the announcement. 
Orbs’ launch of its Liquidity Hub on Fenix comes a few days after the platform led a Fenix Finance’s <a href="https://crypto.news/fenix-finance-secures-300k-seed-investment/">$300,000 seed investment round</a>. Orbs and Fenix believe the integration of the Liquidity Hub and the funding round will bolster Fenix’s goals for its DEX protocol on Blast. 
Fenix Finance launched its Open Beta two months ago, and in this time, has seen over 5,000 users and more than $150 million in volume.

Orbs launches liquidity hub on Fenix Finance

Table of Contents

crypto.news

Alte articole publicate pe 4 iul. 2024

Anticipating Bitcoin’s Plummet to $53k: Understanding the Latest Plunge’s Implication

Bitcoin Price Drops Below $58,000 on Coinbase

Bitcoin Price Drops Below $60,000 Due to Strong Selling Pressure

Gala Games Announces Partnership With Animoca Brands, GALA Token Plunges 6.7%

Bittensor’s TAO Tanks 13% After A $8m Crypto Hack

Animoca Brands & Gala Games Team Up to Boost $GALA Token Liquidity

Join our free newsletter for daily crypto updates!