Orbs L3 taps SYMMIO and IntentX for better on-chain perps 

Orbs, a layer 3 liquidity protocol, launched Perpetual Hub in collaboration with SYMMIO and IntentX to improve the on-chain futures trading experience for leveraged traders.

Defi perpetual futures providers often use an order book as a liquidity mechanism to facilitate token swaps and bootstrap trading. While this method allows investors to participate in decentralized perpetual assets, according to DefiLlama, many industry experts argue that it lacks the capital efficiency of the $3.4 billion locked in on-chain derivatives.

Defi derivatives TVL | Source: DefiLlama Spheres permanent headquarters

To solve this problem, Orbs introduced a purpose-based Perpetual Hub that offers comprehensive on-chain solutions called Hedger, Liquidator and Price Oracle.

The hedger leverages SYMMIO’s front end for bulk liquidity and acts as a counterparty that can draw resources from external capital corridors such as Binance and other centralized exchanges.

Liquidator allows individuals to earn fees for contributing to maintaining the margin threshold by closing investors’ positions. Price Oracle provides a decentralized pricing terminal for tracking unrealized profits and losses.

Ran Hammer, Orbs’ vice president of business development, said the Perpetual Hub launch “opens a door that previously served as a blocker” for blockchain participants increasingly interested in on-chain futures trading.

Our strong partner @orbs_network launched their new product Perpetual Hub!

This end-to-end solution is designed to advance the purpose-driven future of on-chain derivatives trading.

Slowly, then suddenly. https://t.co/2GhKmBXyy1

— SYMMIO (@symm_io) May 30, 2024