Orbs has announced the launch of dLIMIT, an innovative decentralized limit order solution for decentralized exchanges (DEXs).
In a press release shared with Cryptowisser on Thursday, June 1st, Orbs said dLIMIT is powered by Orbs' unique Layer 3 (L3) infrastructure.
The novel technology has been utilized to develop advanced DeFi tools like dTWAP - a decentralized algorithmic TWAP order tool for DEXs.
The team pointed out that dLIMIT, the latest addition to this lineup of products, guarantees optimal and reliable execution of limit orders in a decentralized manner.
While commenting on this latest cryptocurrency news, Ran Hammer, Vice President of Business Development for Orbs, said;
"The Orbs dLIMIT smart contract offers DEX users an unprecedented ability to execute limit orders at optimal prices with fair fees. Moreover, the technology comes with a user interface template, designed for seamless integration and customization by any DEX, for an intuitive, user-friendly, and informative trading experience."
Orbs added that the dLIMIT solution is built on the Orbs' dTWAP protocol, a production-tested product with a proven track record, and is integrated into leading DEXs such as QuickSwap and SpookySwap, registering millions of dollars in trading volume.
Orbs' L3 infrastructure is the backbone of the dLIMIT solution and allows developers to design applications that extend the capabilities of their smart contracts without relying on traditional centralized server solutions.
Furthermore, the Orbs Guardians play a vital role in the dLIMIT protocol in the sense that they run a tailored function utilizing ORBS-Lambda that acts as the single honest bidder, or "taker", required for the dLIMIT protocol to run optimally. In a decentralized way, Orbs Guardians monitor the dLIMIT Smart Contract and calculate and submit an honest bid when an order is open for bids.
Orbs’ spokesperson added that
"dLIMIT, backed by Orbs' robust network infrastructure and smart contract, offers DEXs an optimal limit order solution that ensures decentralization, redundancy, reliability, and user protection. There is already significant interest in the product from leading DEXs, with multiple integrations in progress."
Orbs has been around since 2017 and is a public, open, decentralized blockchain infrastructure powered by a network of permissionless validators using Proof-of-Stake (PoS) consensus. Using a multi-layered blockchain stack, Orbs acts as a separate decentralized execution layer operating between existing layer-1 and layer-2 solutions and the application layer.