L3 Platform Orbs Introduces dLIMIT To Enhance Trading on DEXs

Decentralized blockchain infrastructure Orbs announced the launch of dLIMIT, an innovative decentralized limit order solution for decentralized exchanges (DEXs), this Thursday. The dLIMIT platform is built atop Orbs’ unique Layer 3 infrastructure, which provides a separate decentralized execution layer between existing Layer 1 and Layer 2 solutions and the application layer.

The new dLIMIT platform joins a chain of new products launched on Orbs to enhance decentralization, privacy, and security. Additionally, the platform will guarantee users an optimal and reliable execution layer for limit orders on decentralized exchanges. 

“The Orbs dLIMIT smart contract offers DEX users an unprecedented ability to execute limit orders at optimal prices with fair fees,” says Ran Hammer, Vice President of Business Development for Orbs. 

Notwithstanding, the novel technology also provides a user interface template, “designed for seamless integration and customization by any DEX” building an intuitive, user-friendly and informative trading experience, Hammer added. 

dLIMIT platform joins novel technologies built on Orbs infrastructure including the decentralized time-weighted average price platform (dTWAP) that provides a decentralized algorithmic TWAP order tool for DEXs. The latest innovation is built on Orbs’ dTWAP protocol and leverages the latter’s price oracles, which have previously been used on several top DEXs such as Quickswap and Spookyswap.  

“dLIMIT, backed by Orbs’ robust network infrastructure and smart contract, offers DEXs an optimal limit order solution that ensures decentralization, redundancy, reliability, and user protection,” a spokesperson from the Orbs’ team adds.

Orbs launched in 2017 intending to offer users a public, open, decentralized blockchain infrastructure powered by a network of permissionless validators (Guardians) using Proof-of-Stake (PoS) consensus. The Orbs L3 infrastructure is the backbone of the dLIMIT solution.  It allows developers to design applications that extend the capabilities of their smart contracts without relying on traditional centralized server solutions.

Additionally, the Guardians on Orbs will validate and approve transactions on dLIMIT. Simply, the Guardians run a tailored function utilizing ORBS-Lambda that acts as the single honest bidder, or “taker”, required for the dLIMIT protocol to run optimally. To enhance decentralization, the validators will monitor and validate the transactions on the dLIMIT smart contract and submit an honest bid when an order is open for bids. 

This will enable traders and users to get minimal transaction and gas fees while the platform finds the DEXs with the best prices. This provides assurance that the limit order set will track spot market prices as closely as possible when being executed. 

Lastly, the statement confirms that the latest innovation from Orbs is gaining “significant interest” from leading DEXs with multiple integrations in progress

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.