Scheduled for June 25th, Orderly Network's system upgrade will cause a temporary service disruption for EVM and Near.

Omnichain liquidity layer Orderly Network , built on top of the Near protocol Orderly Network announced its upcoming system upgrade on June 25th. A message shared on social media platform X revealed that there will be a brief period during which the network will not be accessible.

The outage is scheduled for the Ethereum Virtual Machine (EVM) from 06:00 AM to 07:30 AM UTC, while for Near, it will experience downtime from 07:00 AM to 08:30 AM UTC.

Orderly Network combines an order book-based trading system with a liquidity provision layer that accommodates both spot and perpetual futures order books. It provides developers with essential tools and infrastructure to create decentralized finance (DeFi) applications, capitalizing on a variety of existing products. Developers have the capability to build their own decentralized exchanges (DEXs) for perpetual trading, all supported by a swift, shared liquidity Central Limit Order Book (CLOB) that enables access across the leading blockchain platforms. EVM blockchains .

Additionally, Orderly Network leverages Near's technology for in-application swaps designed specifically for mainstream companies, enhancing DEXs with substantial liquidity for leading assets and creating a perpetual trading experience that mirrors centralized exchanges (CEXs). Developers can incorporate Swaps, Spot trading, and perpetual features for Near-native assets such as ETH, NEAR, AURORA, WOO, SWEAT, USDT, USDC.e, and NEAT within their applications. BTC 🚨 Scheduled Upgrade for Orderly System – EVM & NEAR 🚨

Founded in 2021 through the nurturing of Near and Woo Network, Orderly Network relies heavily on the Near blockchain while also aiming to create an omnichain protocol that will bridge EVM and non-EVM blockchains in the future. The platform has caught the attention of leading investors like Sequoia China, Dragonfly, and Jump Crypto. Last year, during a token round fundraising, it reached a valuation of $200 million.

uk Recently, they launched a points program in anticipation of their token launch scheduled for summer. This initiative, dubbed “Merits,” allows users to earn merits that will convert into the Orderly Network token once it debuts. The total supply of tokens is expected to reach 1 million, with a significant share allocated to the community. Importantly, the airdrop mechanism is designed to prevent immediate token unlocks for investors during the token generation event or shortly thereafter. uz Please be aware that the information on this page is not meant to serve as legal, tax, financial, or investment advice. It's crucial to only invest what you can afford to lose and to consult with an independent financial advisor if you have any uncertainties. For more details, we recommend reviewing the terms and conditions as well as the support resources offered by the issuer or advertiser. MetaversePost is dedicated to providing accurate and unbiased information, but please understand that market conditions can change unexpectedly.

Alisa, a passionate journalist at Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investment strategies, and the vast domain of Web3. With her sharp eye for novel trends and advancements, she delivers detailed and engaging insights to keep readers informed in the rapidly changing landscape of digital finance.