How Orderly Network Simplifies the process of creating a Perpetual DEX
Why Build a DEX?
- Unlock Web3 Benefits: Building a DEX means embracing the core values of Web3—community governance, decentralization, and independence from centralized control. As DEXs gain traction in trading volume, this isn't just trend-following; it's about defining the future of trading.
- Revenue Opportunities: With over $11 million in trading fees generated on platforms like Orderly Network, the financial incentives are clear. Your influence can translate into substantial trading volume and revenue.
The Orderly Network Advantage:
- Permissionless Infrastructure: Orderly Network provides a platform where you can build without bureaucratic hurdles. It offers cloud liquidity and an omnichain infrastructure perfect for modern decentralized apps (dApps).
- Real-World Example: Veeno utilized Orderly's framework to introduce perpetual futures trading, showcasing the practical benefits of this infrastructure.
Building with Orderly Network:
- Simplified Integration: Orderly's tools (APIs, Python connectors, TypeScript SDK, etc.) and documentation allow for a quick setup, enabling you to go live in just days.
- Customizable User Experience: Tailor the DEX to mirror your community's trading habits with personalized features like Take Profit/Stop Loss orders and real-time market data.
Market Trends:
- The DeFi sector has seen over $100 billion in total value locked, signaling robust market potential, particularly with the crypto market often surging post-election periods.
Pros of Launching Your Own DEX:
- Community Engagement and Growth: Your existing online community could drive significant trading activity.
- Tailored Trading Ecosystem: Design a trading environment that reflects your expertise and meets your community's needs.
- Scalable Earnings: Increased trading activity directly boosts your DEX's revenue.
Cons to Consider:
- Financial and Technical Investment: Initial capital for liquidity, security, and technology is substantial.
- User Interface Challenges: Achieving a user experience as smooth as centralized exchanges (CEXs) remains a hurdle.
- Liquidity Issues: Ensuring deep liquidity to keep trading efficient is a persistent challenge for DEXs.
Orderly's Role is to minimize the cons and provide solutions to make building your own dex seamless:
- Simplifying Complexity: Orderly provides the shared liquidity and infrastructure needed to focus on building rather than managing the underlying tech.
In essence, with platforms like Orderly Network, the process of launching a DEX is streamlined, making it feasible for projects with a community of traders to create their own trading ecosystem. This isn't just about following a trend; it's about leading innovation in the DeFi space. The time to build with Orderly is now.
An example of how simple it is to build a perp dex is from Veenox, they were able to build their own platform with 3 team members only.
How long did it take to develop Veenox perpetual DEX?
It took a bit more than a month to get VeenoX up and running. The initial hurdle was to create an interface similar to that of popular centralized exchanges, followed by integrating all trading functionalities with Orderly's SDK, which was surprisingly straightforward due to its developer-centric design.
What was the most difficult part of the development?
The toughest part was ensuring a clean, precise charting system. Veenox aimed to use TradingView, known for its excellence in charting, but customizing it to fit the requirements, especially in terms of saving user preferences and setting up trading tools like take profit/stop loss, proved to be quite challenging.
Veenox Tips for developers looking to build with Orderly:
Start by thoroughly going through Orderly's documentation to grasp its modular framework. Orderly takes care of the backend, so you can focus on the frontend. Orderly hooks are particularly well-crafted, making integration smooth and allowing you to concentrate on feature development without backend concerns. This setup promotes efficiency and scalability in development.
What are VeenoX's plans moving forward?
Beyond the current perp DEX, we're focusing on launching the Learn Trading & Earn program, which will add a significant social component to trading on the platform. They are also planning to introduce a DEX and bridge aggregator, along with their own highly adaptable DEX that can launch on Monad immediately and on any new EVM-compatible blockchain. Moreover, they are considering integrating a lending and borrowing protocol directly on Monad.
Follow @bellatlopez for more updates.
How long did it take to develop Veenox perpetual DEX?
It took a bit more than a month to get VeenoX up and running. The initial hurdle was to create an interface similar to that of popular centralized exchanges, followed by integrating all trading functionalities with Orderly's SDK, which was surprisingly straightforward due to its developer-centric design.
What was the most difficult part of the development?
The toughest part was ensuring a clean, precise charting system. Veenox aimed to use TradingView, known for its excellence in charting, but customizing it to fit the requirements, especially in terms of saving user preferences and setting up trading tools like take profit/stop loss, proved to be quite challenging.
Veenox Tips for developers looking to build with Orderly:
Start by thoroughly going through Orderly's documentation to grasp its modular framework. Orderly takes care of the backend, so you can focus on the frontend. Orderly hooks are particularly well-crafted, making integration smooth and allowing you to concentrate on feature development without backend concerns. This setup promotes efficiency and scalability in development.
What are VeenoX's plans moving forward?
Beyond the current perp DEX, we're focusing on launching the Learn Trading & Earn program, which will add a significant social component to trading on the platform. They are also planning to introduce a DEX and bridge aggregator, along with their own highly adaptable DEX that can launch on Monad immediately and on any new EVM-compatible blockchain. Moreover, they are considering integrating a lending and borrowing protocol directly on Monad.
Follow @bellatlopez for more updates.
