Scheduled for this summer, Orderly Network, a trailblazing protocol for decentralized trading infrastructure, is kicking off its token initiative with the introduction of a points scheme called “Merits.”
Starting next week, the “Merits” program will allow participants to accrue points, which will later be exchangeable for Orderly Network tokens upon their release, shared Ran Yi, the co-founder and CEO. While specific details about the conversion rate remain flexible, including the program’s duration, Yi emphasized the program’s adaptability.
The campaign, titled “The Road to The Order,” will feature multiple airdrop snapshots, spanning over ten anticipated epochs, each lasting about a week. These epochs represent key periods during the campaign, with certain activities within the Orderly Network offering the chance to earn additional Merits.
With a planned total supply of one billion tokens, Yi maintained discretion about the token’s ticker symbol to avoid preemptive moves by potential counterfeit initiatives. While the exact share of the total token supply designated for airdrops was not disclosed, Yi assured that a substantial portion is reserved for the community, highlighting the airdrop as a vital element of their community-focused distribution strategy.
Participation and Eligibility
The campaign specifically targets users on Ethereum Virtual Machine (EVM) compatible chains, including Arbitrum, Optimism, and Polygon. However, Yi mentioned that traders using NEAR, despite not directly participating in the campaign, would still qualify for the airdrop based on their trading activity. This inclusive approach ensures that all Orderly traders, from the platform’s inception through to the token launch, will benefit from the airdrop.
Investor Participation
Orderly Network has attracted investment from notable firms like Sequoia China, Pantera Capital, Dragonfly, and Jump Crypto, reaching a valuation of $200 million in its last funding round. When questioned about the investor vesting schedule, Yi revealed that there would be no immediate token unlocks for investors at the launch or in the near future, though specific timelines were not provided.
Since its inception in 2021, incubated by Near and Woo Network, Orderly Network has aimed to provide a robust trading infrastructure for decentralized exchanges. While it currently operates with a focus on the Near blockchain, there are plans to expand into an omnichain protocol that supports both EVM and non-EVM chains, promising a versatile future for decentralized trading.
