The breakthrough dLIMIT and dTWAP protocol developed by Orbs, a Layer-3 infrastructure network for decentralized apps (dApps) which enhances the capabilities of EVM smart contracts, DeFi, GameFi, NFTs, and Web3, will now be implemented on Chronos, one of the major decentralized exchange (DEXs) platforms on Arbitrum.
As a result of the integration, Chronos DEX traders now have access to more complex order types, which allows them to guarantee the price of their trades while also dividing up bigger orders into a greater number of smaller, more manageable transactions, as per the latest information shared with Finbold on July 17.
Notably, Chronos is the latest significant DEX to incorporate Orbs’ dLMIT and dTWAP protocols. Other prominent DEXs that have already done so include QuickSwap, SpookySwap, and Thena.
Orbs’ place as the industry leader in DeFi innovation is further cemented with each new integration of dLIMIT and dTWAP. This demonstrates the capacity of Orbs’ Layer-3 technology to push the limits of smart contract capabilities.
What is Orbs dLIMIT
The Orbs network powers the dLIMIT decentralized, permissionless, and composable DeFi protocol. It makes it possible for DEXs to provide Limit orders, allowing users to purchase or sell tokens at a certain price or better.
The order will be executed at the requested price, but only if the underlying asset’s price moves in the desired direction during the allotted time frame. As soon as the market price satisfies the Limit order’s criteria, the order is filled.
Decentralized, time-weighted orders are made possible by this for dTWAP. Algorithmic trading using TWAP orders tries to reduce the market effect of big orders by executing them in tiny chunks over a predetermined time frame. Smaller orders have less of an influence on prices and more time to find the best possible acquisition price for assets. Due to the time required for liquidity pools to rebalance after the execution of big orders, this order type is extremely useful in DeFi.
Millions of dollars’ worth of transactions have taken place on DEXs that have adopted the dLIMIT and dTWAP protocols, which are presently used by six exchanges across four different blockchains. Orbs’ extensive network of DEXs represents a who’s who of the DeFi industry, with a total TVL of over $300 million.