Skip to content

Orbs invests $600K to improve a BNB Chain DEX protocol

Orbs invests $600K to improve a BNB Chain DEX protocol

Orbs announced a $600,000 investment in THENA (THE) to expand its core product and increase its Total Value Locked (TVL). In addition to the funding, Orbs will provide technical solutions to the decentralized finance (DeFi) protocol.

Notably, the blockchain infrastructure company Orbs operates the Orbs Network (ORBS). The project has existed since 2017, and both the network and token since 2019. Meanwhile, THENA is a decentralized exchange (DEX) and liquidity protocol running on the BNB Chain (BNB).

As communicated to Finbold, the $600,000 investment aims to refine THENA’s user experience. Both projects also want a larger share of the Asian onchain market, which should be facilitated with the funding.

This endeavor will focus on growth-hack strategies, user engagement, and onboarding. In particular, THENA will allocate a tranche of the investment to its treasury as a strategic reserve.

Orbs and THENA partnership

Ankit Saxena, THENA co-founder and CEO, expressed his views on this growing partnership:

“We’re excited to see our collaboration with Orbs evolve into a deeper strategic partnership. The Orbs team, builders like us, consistently demonstrates a forward-thinking approach and immense DeFi expertise. This investment is a testament to our shared vision of developing THENA into the premier DEX on BNB Chain.”

— Ankit Saxena

Interestingly, THENA integrated two of the leading protocols developed by Orbs in June, dLIMIT and dTWAP. These are limit order and TWAP protocols compatible with the Ethereum Virtual Machine (EVM) and built for DEXes integrations.

Essentially, crypto traders gained access to advanced order types on THENA through Orbs technology. This included limit orders and algorithmic trading strategies using decentralized time-weighted average price (TWAP) orders. 

Orbs aims to use EVM chain capabilities to help web3 and blockchain projects fulfill their true potential, as announced. Investing in the BNB Chain’s THENA sends a signal of its goals, regardless of the EVM or ecosystem they operate in.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.