Interview: Mensh, ChainCatcher

Guest: Ran, Orderly Network Co-founder

**ChainCatcher Interview: Ran, Orderly Network Co-founder**

Organizer: Mensh, ChainCatcher

With the arrival of the 2024 bull market and the launch of Pump.fun's one-click token issuance feature, memecoins have become the flagbearer of the bull market, causing a frenzy across the market, with the market capitalization of memecoins exceeding 100 billion. Along with the skyrocketing market cap of memecoins, the demand for leveraged trading has surged. Memecoin perpetual contracts can meet trading demands, reduce friction costs, and enhance security, making them highly sought-after assets. Major exchanges are racing to launch the latest memecoin perpetual contracts. However, compared to centralized exchanges, players prefer decentralized exchanges with higher odds and more diverse gameplay.

Among them, Orderly Network, as a major player in issuing memecoin perpetual contracts, has chosen to compete differently from dYdX and Hyperliquid by creating a cross-chain order book, aiming to become an infrastructure that breaks trading boundaries, allowing users to trade easily anytime and on any chain.

Just as Taobao provides a platform for merchants and consumers to interact, Orderly offers an infrastructure, while different liquidity providers and decentralized exchanges act as suppliers, buyers, and sellers on Taobao. Moreover, Taobao is not just a simple buying and selling platform; it integrates various functions such as payment, logistics, and customer service. Similarly, Orderly provides features such as a risk engine, matching engine, and shared asset pool, offering comprehensive financial tool support for dApps, including spot trading, leveraged trading, perpetual contracts, and lending.

Additionally, Orderly aims to provide efficient liquidity by collaborating with professional market makers to ensure its network has sufficient liquidity to support trading, similar to how Taobao ensures there is enough product supply in the market. At the same time, Orderly Network is committed to reducing trading delays and costs, providing execution efficiency close to that of centralized exchanges.

Most importantly, like Taobao, Orderly is an open market where anyone can become a "seller" or "buyer." Orderly Network also supports multiple blockchain networks, offering a broader market and higher liquidity.

Just as Taobao aims to "make it easy for anyone to do business," Orderly Network integrates the liquidity of all-chain assets, allowing decentralized exchange-like platforms or products with liquidity needs to address the depth and cross-chain issues caused by fragmented liquidity in a one-stop manner, aiming to make transactions easy for everyone.

On January 10, 2025, the Solana ecosystem Dex Raydium announced its integration with Orderly Network, launching a beta version of perpetual contract trading powered by Orderly's all-chain order book. Raydium has 8.4 million active users, with over 600,000 daily active traders, providing strong support for the Orderly platform.

Currently, Orderly has deployed on 10 chains, including Solana, Near, Polygon, Arbitrum, Optimism, Base, and Mantle. As of now, Orderly has launched perpetual contracts for over 80 assets, including BIO, RUNE, PENGU, TURBO, and AI16Z, with a total trading volume exceeding 90 billion dollars.

This time, ChainCatcher is fortunate to invite Ran, the CEO of Orderly Network, to discuss the market performance after the collaboration with Raydium, the upcoming multi-asset staking, and the mechanism that brings more trading freedom to retail investors.

**The Strongest Undertaker of Perpetual Contract Trading Demand in the Solana Ecosystem**

ChainCatcher: Orderly and Raydium have just reached a cooperation on liquidity integration. Can you elaborate on this collaboration?

Ran: The perpetual contracts available for trading on Raydium are provided by Orderly. They have become our distributor. Raydium is the largest decentralized exchange on Solana and is naturally a hub for meme perpetual contracts. There are now nearly 30 meme perpetual contracts on Raydium. Recently, AI agent, WIF, and AI16Z, which have garnered significant market attention, all have perpetual contracts.

ChainCatcher: From the data perspective, has there been any performance that exceeded expectations?

Ran: The trading volume of AI16Z has exceeded expectations; before the perpetual contract was launched, the volume was low, but now it is substantial. Overall, the results of the collaboration are very encouraging. With Orderly's support, Raydium's perpetual contracts have exceeded 14 million in trading volume in less than a month, and it has been increasing almost daily. Its TVL is also rising daily, and there has been a noticeable increase in user numbers. Without any marketing efforts, the data has been impressive in just a few days. In the future, we will conduct more activities.

ChainCatcher: What is the significant meaning of this cooperation for Orderly?

Ran: As the largest decentralized exchange on Solana, Raydium serves