Orderly Network Revises Token Generation Event Schedule, Sets Airdrop Claims for August 26

Orderly Network has announced an updated timeline for its Token Generation Event (TGE), with airdrop claims set to begin on August 26, 2024. This marks a significant milestone for the platform, as it prepares to integrate more participants into its growing DeFi ecosystem.

New TGE Timeline and Airdrop Details

The revised schedule was shared via Twitter, confirming that airdrop claims will go live on the Ethereum mainnet (ERC20) at 8:00 AM UTC on August 26. Following this, Orderly Network’s native token, ORDER, will be listed on various centralized exchanges (CEXs) starting at 10:00 AM UTC.

In addition to the airdrop, the platform will commence emissions for VALOR, a token generated by staking ORDER, alongside trading and market-making rewards, starting on August 27 at midnight UTC. This series of events reflects Orderly Network's commitment to expanding its reach and enhancing participation within its ecosystem.

Tokenomics and Utility of ORDER

The ORDER token is designed to play a pivotal role within the Orderly Network, promoting decentralization, supporting network growth, and incentivizing user engagement. The tokenomics structure of ORDER ensures alignment among stakeholders, including market makers, traders, and developers, fostering a balanced and sustainable ecosystem.

ORDER holders benefit from governance rights, allowing them to participate in key decision-making processes. Additionally, staking ORDER can boost trading and market-making rewards, further incentivizing liquidity provision and active engagement within the network.

With a capped supply of 1 billion tokens, ORDER is allocated across several categories: 55% to the community, 15% to strategic investors, 20% to teams and advisors, and 10% to the foundation for ecosystem development and liquidity provision on exchanges. Early supporters, including those involved in the airdrop, will receive 13.3% of the tokens allocated to the community.

What Is Orderly Network?

Orderly Network is a permissionless liquidity layer focused on creating tools for Web3 trading. The platform addresses liquidity challenges in DeFi by offering a unified trading orderbook that spans multiple blockchains, utilizing Orderly Chain and LayerZero technology to facilitate efficient cross-chain trading.

The platform’s Software Development Kit (SDK) empowers Web3 teams to rapidly develop and deploy advanced omnichain trading applications, enhancing the overall functionality of the ecosystem.

With recent strategic investments, including an additional $5 million funding round supported by OKX Ventures and Manifold Trading, Orderly Network’s valuation has soared to over $200 million. The upcoming airdrop has generated significant anticipation within the DeFi community, signaling a pivotal moment for the platform as it continues to grow.

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