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Orbs Launches Liquidity Hub on Fenix Finance
Layer 3 blockchain Orbs has launched its liquidity hub on Blast-based decentralized exchange (DEX) protocol, Fenix Finance.
The Orbs team announced the development on Thursday, noting that the deployment of Orbs Liquidity Hub will help increase liquidity and capital efficiency for Blast users.
Orbs Liquidity Hub is live on Fenix Finance
Orbs Liquidity Hub’s integration with Fenix marks the solution’s fifth deployment on decentralized exchanges operating on EVM blockchain networks. However, Fenix is its first expansion to a Blast-based DEX.
In operation, Orbs Liquidity Hub will function as a layer on top of the Fenix Finance DEX and will leverage multiple liquidity sources to deliver the best possible prices to DEX users. The main benefit is reduced slippage, with traders being able to extract the most value from their trades.
Orbs also helps reduce transaction fees for users by providing a solution to the fragmented liquidity issues in the DeFi market. Users can leverage these features to protect themselves against Maximum Extractable Value (MEV) and access gas-free transactions.
“By merging liquidity from on- and off-chain sources, Liquidity Hub provides an enhanced trading experience without introducing custody risk,” the Orbs team said in the announcement.
Orbs’ launch of its Liquidity Hub on Fenix comes days after the platform conducted a Fenix Finance transaction $300,000 Seed Funding RoundOrbs and Fenix believe that the Liquidity Hub integration and funding round will further Fenix’s goals for its DEX protocol on Blast.
Fenix Finance launched its open beta two months ago and during that time has seen over 5,000 users and over $150 million in volume.