Orderly (ORDER) price

Orderly (ORDER) is the token of Orderly Network, issued on Ethereum as an ERC-20 token. Orderly Network is infrastructure for decentralized derivatives trading. The project provides a shared liquidity layer and an order-book trading engine on which other applications can build their own exchanges and front ends without bootstrapping liquidity from scratch. It is aimed mainly at developers of such applications and at traders who use those front ends.

ORDER is not the coin of its own blockchain but a token on Ethereum, so fees for transferring it are paid in ETH. How the token is used inside the protocol (governance, staking, participant incentives) should be confirmed in the project's documentation, because the data available to us contains no such description. What sets this kind of infrastructure apart from typical decentralized exchanges is that trading runs through an order book rather than automated market-making pools.

Supply: the maximum supply is capped at 1 billion ORDER. The total supply is about 995 million and roughly 407 million tokens are in circulation now, about 41% of the maximum. This is a limited supply: no more than 1 billion tokens can ever exist, but the remaining 59% or so has yet to enter circulation, which matters when judging selling pressure.

What to watch: the token unlock schedule; actual trading volumes on platforms built on Orderly; competition from other decentralized derivatives exchanges; dependence on attracting new applications and traders; smart-contract risk and regulatory risk around derivatives. The token appeared in the CoinMarketCap catalog on 26 August 2024. Not investment advice.