Orderly Network, a permissionless, decentralized exchange system hatched by blockchain platform Near and trading platform Woo Network, has raised $20 million in a strategic investment round led by Singapore-based venture capital company Three Arrows Capital.
Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, and MetaWeb Venture Capital are among the other investors.
Orderly Network’s on-chain order book exchange, which launched in April 2022, is a platform for modular decentralized applications to employ financial instruments, including spot trading, margin trading, perpetual swaps, lending, and borrowing.
Orderly Network will be based on the Near blockchain, which it says will provide it access to one of the industry’s quickest and most scalable layer-one blockchains.
The increased funds will be used to boost recruiting across all critical departments, create and enhance new and existing products, and form partnerships, among other things.
