Blockchain infrastructure company Orbs has announced an investment of up to $600,000 in liquidity layer and decentralized exchange THENA. The deal will provide THENA with the capital to expand its core products and grow TVL to transform the DEX landscape on BNB Chain.
Orbs aims to extend the capabilities of EVM chains to help web3 and blockchain projects fullfill their true potential. Investing in THENA has sent a clear signal of its intent to support outstanding projects, regardless of the EVM or ecosystem they operate in.
In addition to providing funding, Orbs has committed to providing the technical solutions that will help THENA better realize its goal of enhancing onchain swaps to deliver better price efficiency and deeper liquidity.
Prior to the funding agreement, THENA and Orbs had a history of collaboration and a productive working relationship. In June, THENA integrated Orbs dLIMIT and dTWAP to enhance the trading capabilities of its native DEX. This gave THENA traders access to advanced order types including limit orders, and algorithmic trading strategies using decentralized time-weighted average price (TWAP) orders.
THENA Director and Co-Founder, Theseus, said: Were excited to see our collaboration with Orbs evolve into a deeper strategic partnership. The Orbs team, builders like us, consistently demonstrates a forward-thinking approach and immense DeFi expertise. This investment is a testament to our shared vision of developing THENA into the premier DEX on BNB Chain."
The investment from Orbs will be used to help THENA further refine user experience including the redevelopment of its front-end. In addition, efforts will be made to strengthen THENAs share of the lucrative Asian onchain market through increasing public relations and community outreach across the region.
A number of growth-hacking initiatives are also being developed that will drive greater user engagement and onboard new users. Finally, a tranche of the investment made by Orbs will be allocated to a treasury and used as a strategic reserve. This will support the long-term sustainability and success of THENA will ensure that the project can capitalize on new technologies and opportunities as they emerge.
Orbs is a blockchain infrastructure project. Have been around since 2017, with the network and token live since 2019. Orbs is now focusing on building use cases supported by the network and tech.
The most used protocols on Orbs now are dTWAP and dLIMIT – these are limit order and TWAP protocols that are 100% decentralized, EVM compatible, and can integrate with most DEXs. Currently live with multiple DEXs such as QuickSwap, SpookySwap, Thena, Chronos, and more. The project is being developed by a dedicated team of more than 30 people, with team members in Tel Aviv, London, New York, Tokyo, and Seoul.
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