Orderly Network Launches X Crypto Trading Championship to Energize Trading Community

/EIN News/ -- NEW YORK, July 15, 2024 (GLOBE NEWSWIRE) -- Orderly Network is proud to announce the launch of the X Crypto Trading Championship, a dynamic initiative aimed at revitalizing the trading landscape amidst current market challenges, with a total prize pool of $175,000 USDC. This competition is designed to inspire and engage esteemed traders worldwide, fostering both healthy sentiment and community cohesion.

Commencing today, July 15 at 1PM (UTC), the competition will span four weeks and consists of four ranking sessions. Each session will run for a week, during which participants' trading performances will be evaluated based on their Profit and Loss (PNL) calculated in USDC across all trading pairs available on Orderly Network. At the conclusion of each ranking session, results will be published, and rewards distributed based on cumulative points accumulated throughout the competition.

Orderly Network is renowned for its innovative omnichain liquidity infrastructure, offering a robust layer-2 platform that enables efficient and permissionless trading on Web3. Powered by the Orderly Chain and LayerZero, the network consolidates orders from multiple chains into a unified orderbook. This consolidation significantly enhances trading efficiency, increases liquidity depth, and tightens market spreads for traders worldwide, addressing the fragmented liquidity challenges prevalent in the crypto world.

Participation in the Orderly X Crypto Trading Championship is exclusive and by invitation only, ensuring a high-caliber field of master traders who are verified by Orderly. Each Master Trader will receive $10,000 USDC pre-funded to their authorized wallet address before the start of the competition, supporting their trading activities across all ranking sessions.

Arjun Arora, Chief Operating Officer of Orderly Network said, "By providing omnichain unified liquidity, we support diverse trading for any asset, any chain and any interface. We aim to support traders during challenging times, reinforcing Orderly Network's commitment to excellence in trading infrastructure. Our X Crypto Trading Championship invites esteemed traders, fostering healthy competition and strengthening community bonds within the trading ecosystem."

In conjunction with the competition, Orderly Network has introduced ‘The Road to the Order’ campaign, an initiative aimed at rewarding active traders with Merits, which contribute to their participation in an upcoming airdrop event tied to the network's token generation event. This initiative has garnered significant interest, engaging over 69,000 weekly active traders who earn Merits with every trade on the platform.

For more information on the Orderly X Crypto Trading Championship and to learn about Orderly Network's innovative solutions for liquidity, visit [https://orderly.network/].

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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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a693d1b6-64af-4d92-941b-cfb97a5922a1