SushiSwap expands support for layer-3 protocols with Orbs’ dLIMIT and DCA

August 20, 2024 at 1:58 pm

News

SushiSwap expands support for layer-3 protocols with Orbs’ dLIMIT and DCA

Decentralized crypto exchange SushiSwap now supports layer-3 protocols on Orbs to bring new order types, including the ability to spread out orders over time.

SushiSwap, a decentralized exchange and automated market maker, has integrated layer-3 Orbs’ (ORBS) dLIMIT and DCA decentralized protocols into its platform, offering users new tools for managing trades.

In an Aug. 20 press release shared with crypto.news, Orbs said that with the integration of the dLIMIT protocol, SushiSwap traders can now place limit orders right on a blockchain network, setting specific buy or sell prices with trades executing only when market conditions match those parameters. The feature also includes options to customize order execution and track trades through an order history tab, the press release reads.

“Trades are only executed when the available market price is equal to or better than the Limit price. dLIMIT takes into account current market conditions, prices, and gas fees.”

Orbs

Orbs brings new DeFi features to SushiSwap

Alongside dLIMIT, SushiSwap has also added support for Orbs’ DCA protocol, which allows traders to implement “time-weighted average price orders.” This feature enables users to specify the frequency and number of trades, making it possible to “gradually build a position in a desired token,” according to Orbs.

Orbs, which operates on a proof-of-stake consensus algorithm, aims to enhance decentralized finance (DeFi) functionalities by acting as an intermediary layer. In 2023, Orbs raised $10 million through the sale of its native tokens to DWF Labs and has been expanding its services across multiple blockchain networks, including Ethereum, Polygon, and the Open Network.

In July, the project launched its liquidity hub, Fenix Finance, in July on the Blast-based decentralized exchange protocol, aimed at improving liquidity and capital efficiency for its users. Following the integration announcement, the price of the ORBS token increased by over 5% to $0.025.