"Monad & Orderly Network Team Up for DeFi Boost"

Ethereum L1 Monad and Near-Based Orderly Network Join Forces to Boost DeFi
Monad, an Ethereum Virtual Machine (EVM) layer-1 blockchain, is set to launch its testnet, marking a significant milestone in its development. In anticipation of this launch, Monad has joined forces with Orderly Network, a decentralized exchange (DEX) infrastructure built on the Near blockchain. This strategic partnership aims to capitalize on the growing interest in decentralized finance (DeFi) and the potential for a second DeFi summer.
The launch of the Monad testnet on Wednesday will provide traders with a fast EVM-compatible building site and the possibility of airdrops on the L1. Orderly Network, with its band of 20 market makers including Wintermute, Selini, and Riverside, will bring its expertise in DEX infrastructure to the partnership.
Firms in the decentralized trading industry, including major exchanges like Coinbase, are optimistic about the surge of DeFi activity in the coming months. The crypto-friendly administration of President Donald Trump is expected to provide a regulatory tailwind for the industry, reminiscent of the first DeFi summer in 2020, which followed Federal Reserve interest-rate cuts in response to the Covid outbreak.
Orderly Network already offers users a shared order book across multiple blockchains, including Arbitrum, Optimism, Polygon, Base, Mantle, and Near. This interoperability is a key advantage for Orderly, as it allows users to trade across different chains seamlessly. Arjun Arora, Chief Operating Officer of Orderly Network, emphasizes the importance of solving for fragmented liquidity in the face of an ever-increasing number of blockchains.
In April 2024, Monad Labs raised $225 million in a funding round led by Paradigm, demonstrating the strong investor interest in the project. As the Monad testnet launches and the partnership with Orderly Network progresses, the potential for a second DeFi summer grows, with these two platforms poised to play significant roles in the burgeoning DeFi ecosystem.

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