A complete on-chain solution for trading perpetual futures, Perpetual Hub has been introduced by Layer 3 liquidity protocol Orbs. Prior to today, the market’s leading solutions relied on an order book or virtual liquidity mechanism, both of which were inefficient in terms of capital. With an intent-based paradigm, Perpetual Hub offers traders a full suite of tools to maximize value from on-chain perps.
Perpetual Hub, which was created in partnership with SYMMIO and IntentX, makes use of Orbs’ cutting-edge L3 technology to provide traders with the resources they need to trade perpetual futures on-chain with CeFi-level execution.
Ran Hammer, VP of Business Development at Orbs added:
“This launch opens a door that has previously served as a blocker for people in blockchain. Perpetual futures are significantly more popular than spot trading, and we now offer the best solution for perpetual traders on-chain. We’re eager to continue fostering our reputation as lead experts in DeFi and web3, helping bring the world on-chain!”
Market makers and traders alike gain from Perpetual Hub’s support for on-chain perpetual futures trading. Price Oracle, Liquidator, and Hedger are the three spokes that make up the service.
Hedger is a market maker that fills user orders to offer liquidity using a front end driven by SYMM. Hedger may access unmatched liquidity by using external liquidity sources, such as centralized exchanges like Binance, in its capacity as the counterparty to trades.
In the event that the collateral value falls below the maintenance margin barrier, customers may liquidate a trader’s position using the second component, Liquidator. As payment for their services, liquidators can earn a liquidation fee.
Precise pricing is essential for perps trading, and Price Oracle, the third strand of Perpetual Hub, ensures this by providing trustworthy on- and off-chain data. Price oracles are necessary to ensure proper order execution, detect liquidations, and give uPnL (unrealized profit and loss) for accounts. For Perpetual Hub to operate as intended, a completely decentralized, dependable, and resilient price oracle is necessary.
With the help of the decentralized Orbs Network, its Guardians, and its proof-of-stake ecosystem, these three software solutions harness the power of the network to enable platforms, market players, and other third parties to provide and run a range of decentralized services for perpetual futures trading.
On-chain derivatives have a total value locked (TVL) of $3.4 billion, which is a small portion of the nearly $100 billion total TVL of the DeFi industry. From price to order execution, Perpetual Hub can improve all facets of trading perpetual futures. The improvements will raise TVL, improve user experience and safety, and boost confidence in the onchain perps markets.
