Layer-3 infrastructure provider Orbs said today that SpookySwap and THENA, the top decentralized exchange platforms on the Sonic and BNB Chains respectively, are rolling out perpetual trading capabilities for more than 300 token pairs with up to 60-times leverage. They’re doing so thanks to an integration with Orbs’ newest protocol, Perpetual Hub Ultra.
Launched earlier this month, Orbs Perpetual Hub Ultra is a whitelabel infrastructure protocol that can be deployed by any EVM-compatible DEX platform to integrate perpetual trading markets with their existing spot market offerings. Based on a simple plug-and-play architecture, it provides access to vast amounts of liquidity from across the Ethereum landscape, as well as centralized exchange platforms like Binance.
It’s the latest capability from Orbs, which has emerged as one of the unsung heroes of the Web3 industry thanks to its critical Layer-3 execution layer that provides enhanced smart contract capabilities to decentralized applications. By leveraging Orbs’ stack, dApps can access liquidity that moves freely across any EVM-based L1 and L2 network, without the need for complex bridges.
By offloading computations onto Orbs’ Layer-3, dApps can create more advanced functionality while simultaneously boosting their performance and scalability. It enables dApps to process transactions off-chain while accessing back-end logic to support programmable DeFi strategies and customized consensus mechanisms.
SpookySwap and THENA are ideal launch partners for the Orbs Perpetual Ultra Hub, as they’re already existing customers, having previously integrated Orbs’ dLIMIT and dTWAP protocols to enhance their spot trading markets and ensure access to much deeper liquidity than they can bootstrap themselves.
The Orbs Perpetual Ultra Hub builds on the capabilities of the original Orbs Perpetual Hub protocol, which has processed more than $2.2 billion in perpetual trading volume to date. It’s designed to enhance perpetual futures by supporting more customizable, intent-based trading with rapid transaction execution and deeper liquidity. It promises to boost trading efficiency to unprecedented heights.
To do this, Orbs combines its omnichain infrastructure with Symm.io’s smart contracts, enabling much deeper liquidity routing. It’s powered by three key primitives, including Hedger, which fulfills user’s orders by finding the most efficient liquidity route from dozens of DEXs and CEXs platforms. The Liquididator primitive automates the management of trader’s positions, maintaining collateral and margin thresholds, while the Price Oracle generates unrealized profit and loss data to help traders manage their position effectively.
SpookySwap and THENA can now support perpetual trading for all of the 300+pairs supported by Orbs’ extensive L3 infrastructure. This means they can access dozens of tokens that aren’t available natively on the Sonic and BNB Chains. For instance, the popular memecoin PUMP isn’t supported by BNB, but users can now swiftly enter and exit positions in that token via THENA.
Orbs Chief Business Officer Ran Hammer said SpookySwap and THENA are just the first of many DEXs that aim to add new perpetual futures trading, or expand their existing capabilities with Perpetual Hub Ultra. “As it’s rolled out across more EVM chains, it will provide access to perpetual trading that is decentralized, secure and fully customizable to suit the needs of leading DEXs,” he explained.
There’s certainly lots of reasons to think more DEXs will want to do so, for the new protocol can potentially increase trading volume on any platform by helping it to add more sophisticated trading features.
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