Pioneering Intents With Orbs — Gasless Trades, Better Prices, and More!
As a decentralized exchange (DEX), THENA’s focus has always been on traders. First, we introduced the self-optimizing ve(3,3) model for deep liquidity in order to provide as good of a trading experience as possible.
Next, to further improve the price execution, we introduced FUSION, powered by Algebra and Gamma Strategies, which introduced a safe and simple way for retail users to provide concentrated liquidity.
Now we have taken another leap forward with THE Liquidity Hub, which is powered by Orbs’ Layer 3 infrastructure that brings aggregated liquidity to THENA. The result?
The most powerful DEX on BNB Chain. Here’s why.
Goodbye Gas, Hello Cake
THENA’s spot market now offers the widest selection of onchain assets — on any BNB Chain DEX. This means users can now swap tokens like PancakeSwap’s CAKE and StaFi’s FIS, which were not previously available due to their onchain liquidity residing elsewhere.
Enter THE Liquidity Hub, a fully decentralized, permissionless, and composable DeFi protocol developed and powered by Orbs, now integrated to THENA. It’s currently in its V1 stage, with V2 coming out soon.
How THE Liquidity Hub Works
THE Liquidity Hub software offers an optimization layer on top of the AMMs, and taps into external liquidity sources for better price execution and lower price impact for users.
In the past, THENA searched for the best route within our somewhat limited liquidity pools. Now, the process is enhanced by utilizing various other sources:
- Onchain solver auction: Third-party solvers who compete to fill swaps using on-chain liquidity like AMM pools or their own private inventory.
- Decentralized orders via API: Decentralized orders are accessible using API, enabling institutional/professional traders, such as market makers, to submit bids and compete to fill swaps.
Let’s explore a hypothetical scenario where a user wants to swap BNB to Bitcoin. THE Liquidity Hub checks if the trade can be executed at a better rate than the AMM — how much better is decided by us — and executes it accordingly.
As a result, THE Liquidity Hub always improves the trading experience. If it cannot offer a superior rate, the rate is routed through the regular pools. Whichever way it goes, THENA pockets either the fees, or the positive slippage if routed through elsewhere.
Benefits for THENA and Traders
THE Liquidity Hub improves the trading experience on THENA in multiple ways. For the end user, there are no significant visible changes. In fact, a typical user may not realize that it even exists — other than for being able to swap any BNB Chain asset. Additionally, the onchain contract protects end-users and makes sure their funds are safe, and that significant price manipulations cannot occur.
All funds are held onchain, and as always, everything is non-custodial. Here are some of the other benefits:
- Simplicity: The trading experience is improved with no visible changes, keeping things simple and clean.
- Easy integration: Solvers and market makers can easily plug in to improve the trading experience further.
- Fast execution: Trades have minimal to zero latency allowing users to respond to real-time market movements.
- Gasless trades: Users do not need BNB to execute trades, reducing the cost of transactions.
Build N Build
The integration of THE Liquidity Hub signifies a groundbreaking advancement in decentralized trading on BNB Chain. By harnessing Orbs’ Layer 3 infrastructure, we’ve not only broadened our asset range but also elevated the trading experience with improved price execution and minimal impact.
This development is the first step for innovating the trading experience for our spot market. It sets a new standard for DEXs on BNB and beyond. And as with all releases, they will be available on opBNB as well. The future is ours.
