Building Beyond Oraichain: OraiDEX’s Cross-Chain Liquidity Protocols

Oraichain Labs
OraiDEX
Published in
3 min readFeb 29, 2024

--

We’re thrilled to share that OraiDEX is set to expand its footprint on the Ethereum network through the introduction of the ORAIX token on UniSwap, accompanied by several crucial utilities for our community. This pivotal move signals the start of significant upgrades to OraiDEX’s cross-chain liquidity protocol, aimed at enhancing interoperability and boosting protocol fees for ORAIX holders.

ORAIX UniSwap Listing Details

  • Pool: ORAIX/WETH
  • Initial Liquidity: $1,000,000 (50% ORAIX + 50% WETH)
  • Listing Price: Market price at the listing time

In recent months, OraiDEX has emerged as a standout performer in the DeFi, marking a significant milestone by surpassing $23 million in Total Value Locked (TVL) for the first time. This achievement not only underscores the platform’s growing popularity but also offers a tantalizing glimpse into its potential future trajectory. The allure of OraiDEX extends beyond its impressive TVL; the protocol fees have become a major draw, attracting substantial traffic to the platform.

This is evidenced by the success of Co-Harvest, which has distributed over $50,000 in revenue to users since its inception. A considerable portion of this revenue is generated through EVM users, who leverage OraiDEX’s Universal Swap and bridging features to navigate the broader ecosystem. In a bid to further enhance revenue opportunities for OraiDEX holders, Oraichain is set to expand its cross-chain liquidity offerings.

What are Cross-Chain Liquidity Protocols?

Oraichain’s commitment to unifying the multi-chain user experience is evident in its range of features designed to facilitate interoperability across blockchain networks. The cross-chain liquidity protocol represents a sophisticated suite of bridging functionalities that enable users to seamlessly transition between multiple chains. Tools like Universal Swap and OraiBridge have already facilitated a significant volume of transactions, allowing EVM users to interact with Oraichain effectively. These transactions have become a vital revenue stream for ORAIX holders.

In the coming months, OraiDEX plans to enrich its array of cross-chain liquidity features further. Notable enhancements will include:

  • The adoption of a universal token standard, facilitating the flow of liquidity across additional EVM networks, including Ethereum Layer 2 solutions.
  • The introduction of OraiBTC is set to unlock unprecedented opportunities for Bitcoin holders, enabling the transfer of Bitcoin to Oraichain, IBC networks, and various EVM-based protocols seeking exposure to native Bitcoin.
  • Perhaps most importantly, Oraichain will undertake a significant upgrade to improve user accessibility by enabling direct accessibility with MetaMask. This development will allow users to interact with the mainnet without the need for additional wallets or “snap” installations, making Oraichain instantly more accessible to millions of users.

What’s Coming Next for $ORAIX?

The journey ahead for ORAIX is filled with exciting prospects. One of the immediate steps includes expanding ORAIX’s presence and utility on the Ethereum network through the launch of an ORAIX/WETH pool on UniSwap. This expansion will introduce a series of ORAIX utilities on Ethereum, such as:

  • A Co-harvest (burn auction) feature with USDC on Ethereum, aimed at broadening the holder base.
  • Staking opportunities that allow users to earn USDC, further appealing to Ethereum users.
  • Enhanced governance features that empower ORAIX holders with a say in the platform’s future direction.

As outlined, the roadmap for OraiDEX is ambitious, aiming to elevate the platform to new heights by leveraging cross-chain liquidity to bridge the gap between disparate blockchain ecosystems. This strategic expansion is not just about enhancing the platform’s functionality; it’s about creating a more interconnected, accessible, and user-friendly DeFi landscape. With these developments, OraiDEX is poised to redefine the boundaries of what’s possible in the realm of decentralized finance.

--

--