According to the most recent updates shared with Finbold on July 4, Orbs, a Layer 3 blockchain, has announced the launch of its liquidity center on Fenix Finance.
The objective of the launch is to improve the efficacy of capital for Layer 2 users and increase liquidity on the Blast decentralized exchange (DEX).
Orbs provides reduced transaction fees, safeguards against Maximal Extractable Value (MEV), and gas-free transactions to address the challenges of fragmented decentralized finance (DeFi) liquidity.
Orbs’ liquidity center functions as an additional layer that sits on top of the DEX, facilitating the consolidation of liquidity from a variety of sources to guarantee the most competitive pricing.
This minimizes slippage and optimizes the value of each trade. The Liquidity Hub seamlessly integrates with the current Fenix DEX interface, ensuring that merchants maintain the familiar user experience.
The liquidity center improves the trading experience by combining liquidity from both on-chain and off-chain sources, without introducing custodial risks.
If the Automated Market Maker (AMM) is unable to execute the trade at a lower price, the transaction will default to the AMM contract.
This guarantees that transactions are executed at the optimal rate without the necessity of manually selecting the liquidity route.
The deployment on Fenix is Orbs’ fifth integration with DEXs on Ethereum Virtual Machine (EVM) networks and its debut on Blast. This follows Fenix Finance’s recent $300,000 initial investment round, which was headed by Orbs.
Fenix will be able to provide the most capital-efficient trading experience on Blast in conjunction with the new liquidity solution and this funding.
In May 2024, Fenix launched the Open Beta, which has since attracted more than 5,000 users and generated over $150 million in trading volume.
Fenix is in a favorable position to become the premier protocol for Blast token trading and liquidity provision, as the Orbs liquidity center is now operational.
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