Orbs Invests $600K in BNB Chain Liquidity Layer THENA (8 Dec)
Blockchain infrastructure company Orbs has recently announced a substantial investment, committing up to $600,000 in the liquidity layer and decentralized exchange THENA. This strategic move is aimed at providing THENA with the necessary capital to expand its core products and increase TVL, ultimately reshaping the decentralized exchange (DEX) landscape on BNB Chain.
Orbs, with a mission to extend the capabilities of EVM chains, aims to empower web3 and blockchain projects to fulfill their true potential. By investing in THENA, the company is signaling its commitment to supporting outstanding projects, irrespective of the EVM or ecosystem they operate in.
Technical Solutions and Collaboration
In addition to financial support, Orbs is dedicated to providing technical solutions that will assist THENA in achieving its goal of enhancing on-chain swaps, delivering improved price efficiency, and deeper liquidity.
Notably, THENA and Orbs have a history of collaboration. In a previous collaboration in June, THENA integrated Orbs’ dLIMIT and dTWAP to enhance the trading capabilities of its native DEX. This integration provided THENA traders access to advanced order types, including limit orders, and algorithmic trading strategies utilizing decentralized time-weighted average price (TWAP) orders.
Strategic Partnership and Future Plans
Ankit Saxena, CEO and Co-Founder of THENA, expressed excitement about the evolving collaboration with Orbs, stating, “We’re excited to see our collaboration with Orbs evolve into a deeper strategic partnership. The Orbs team, builders like us, consistently demonstrates a forward-thinking approach and immense DeFi expertise. This investment is a testament to our shared vision of developing THENA into the premier DEX on BNB Chain.”
The investment from Orbs will be allocated to refining the user experience, including the redevelopment of THENA’s front-end. Efforts will also focus on strengthening THENA’s position in the lucrative Asian on-chain market through increased public relations and community outreach.
- Developing growth-hacking initiatives for greater user engagement.
- Onboarding new users to THENA.
- Allocating a portion of the investment to a treasury for strategic reserve.
This strategic reserve aims to support the long-term sustainability and success of THENA, ensuring the project can capitalize on emerging technologies and opportunities.
About Orbs
Orbs is a blockchain infrastructure project that has been active since 2017, with the network and token live since 2019. Focusing on building use cases supported by the network and tech, Orbs’ most used protocols include dTWAP and dLIMIT – 100% decentralized, EVM compatible, and integrable with most DEXs. Currently live with multiple DEXs such as QuickSwap, SpookySwap, Thena, Chronos, and more, the project is being developed by a dedicated team of over 30 people, with team members located in Tel Aviv, London, New York, Tokyo, and Seoul.
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