Orbs Network Launches dLIMIT Solution To Enhance Limit Orders on DEXs
Orbs Network launches dLIMIT, a platform allowing DEX users to execute limit orders at optimal prices with fair fees, on its platform.
In an announcement this Thursday, Orbs, a public, open, decentralized blockchain infrastructure, announced the successful launch of dLIMIT, a decentralized limit-order solution for decentralized exchanges (DEXs). The dLIMIT platform is built on Orbs blockchain and leverages the blockchain’s innovative Layer 3 infrastructure to enhance the execution of limit orders on DEXs.
Additionally, the platform will offer a user-friendly interface, seamless integration and customization by DEXs, promoting an “intuitive, user-friendly, and informative trading experience,” as Ran Hammer, Vice President of Business Development for Orbs explained.
“The Orbs dLIMIT smart contract offers DEX users an unprecedented ability to execute limit orders at optimal prices with fair fees,” Hammer added.
Launched in 2017, Orbs Network has introduced several innovations to provide users with an open, public, and decentralized infrastructure to build their apps. Using a multi-layered blockchain stack, Orbs created the Layer 3 infrastructure that acts as a separate decentralized execution layer operating between existing layer-1 and layer-2 solutions and the application layer. dLIMIT is the latest innovation to be launched joining the recently launched dTWAP solution, a production-tested product that has been integrated on several DEXs and registered millions of dollars in trading volume.
The Orbs’ Layer 3 infrastructure is built on the Orbs blockchain infrastructure – a decentralized and public blockchain infrastructure governed by a network of permissionless validators (Guardians) using Proof-of-Stake consensus. The dLIMIT platform leverages the L3 infrastructure and dTWAP solution to enhance limit orders on DEXs. Crucially, the Orbs Guardians run a tailored function utilizing ORBS-Lambda that acts as the single honest bidder, or “taker”, required for the dLIMIT protocol to run optimally.
“dLIMIT, backed by Orbs’ robust network infrastructure and smart contract, offers DEXs an optimal limit order solution that ensures decentralization, redundancy, reliability, and user protection,” the press release adds. “There is already significant interest in the product from leading DEXs, with multiple integrations in progress.”
In addition, the Guardians also validate and monitor the dLIMIT smart contract and match the honest bids when an order is open for bids. The bids are hardcoded to specify a minimal gas fee and optimal trade path, providing assurance that trades executed and the dLIMIT contract track spot market prices as closely as possible.
With advanced DeFi tools such as dTWAP and dLIMIT, the Orbs Layer 3 infrastructure allows developers to design applications that extend the capabilities of their smart contracts without relying on traditional centralized server solutions. dLIMIT, as the latest addition to Orbs aims to offer simplicity for DEX traders, providing optimal and reliable execution of limit orders in a decentralized manner.