Orbs Debuts New Liquidity Hub on the Fenix Finance Platform
Orbs, a layer 3 blockchain platform, has recently introduced its liquidity hub on the decentralized exchange (DEX) protocol called Fenix Finance, which is based on the Blast network. The Orbs team made the announcement on Thursday, highlighting that the deployment of the Orbs Liquidity Hub will enhance liquidity and improve capital efficiency for users of Blast.
The integration of the Orbs Liquidity Hub with Fenix Finance signifies the fifth deployment of this solution on decentralized exchanges that operate on EVM blockchain networks. However, this is the first time that the Liquidity Hub has expanded to a Blast-based DEX.
The Orbs Liquidity Hub will act as a layer on top of the Fenix Finance DEX and utilize various liquidity sources to provide the best possible prices for users of the DEX. This will greatly reduce slippage, allowing traders to maximize the value of their trades.
In addition to boosting liquidity, Orbs also addresses the issue of fragmented liquidity in the decentralized finance (DeFi) market, thereby reducing transaction fees for users. Users can take advantage of these features to mitigate risks associated with Maximal Extractable Value (MEV) and enjoy gas-free transactions.
“Our Liquidity Hub combines liquidity from both on- and off-chain sources, offering an improved trading experience without introducing custodial risk,” stated the Orbs team in their announcement.
The launch of the Orbs Liquidity Hub on Fenix Finance follows Orbs’ recent participation in Fenix Finance’s seed investment round, where they led with a $300,000 investment. Orbs and Fenix anticipate that the integration of the Liquidity Hub and the funding will strengthen Fenix’s objectives for its Blast-based DEX protocol.
Since its Open Beta launch two months ago, Fenix Finance has attracted over 5,000 users and facilitated a trading volume of more than $150 million.
