Orbs, a Layer-3 public blockchain infrastructure project, announced on February 22 a strategic partnership with IntentX, a prominent over-the-counter (OTC) marketplace and trading terminal, demonstrating its determination to establish itself as a major player in the rapidly diversifying market. empire of on-chain derivatives according to information shared with Finbold.
Understanding the Orbs-IntentX partnership
The partnership aims to leverage Orbs’ advanced Layer-3 technology to explore different use cases for on-chain derivatives.
Key initiatives include integrating Orbs’ RFQ protocol, Liquidity Hub, into IntentX for RFQ spot trading, as well as expanding IntentX’s spot trading capabilities across Base and Arbitrum blockchains through Liquidity Hub.
Following the collaboration with SYMMIO, a protocol specialized in bilateral ‘Symmetric Trading’, the new alliance marks the second pivotal moment for Orbs, highlighting the many use cases for on-chain derivatives, including off-chain/on-chain communications oracles and the development of a bidding system for hedgers.
Ran Hammer, VP Business Development at Orbs, expressed his confidence in the partnership and said:
“By partnering first with SYMMIO and then with IntentX, Orbs is solidifying its role as a leader in on-chain RFQ trading innovation. In addition to integrating our Liquidity Hub decentralized optimization layer into IntentX’s front-end for RFQ-based spot trading, we will enhance SYMMIO’s contracts using our L3 technology. We hope this proves to be a bull’s-eye for the on-chain derivatives space, and we can’t wait to hear what users think.”
— Ran Hammer, vice president of business development at Orbs
Streamlining the on-chain derivatives market
By working together, Orbs, IntentX and SYMMIO are paving the way for a more streamlined, transparent and accessible on-chain derivatives market, offering greater value compared to traditional DEX AMMs.
Liquidity Hub has already facilitated significant trading volume, operating on the leading native DEX Quickswap on Polygon and Thena on BNB Chain.
IntentX, known for its perpetual futures trading, serves as a robust OTC derivatives exchange. Central to SYMMIO’s operations are SYMMIO’s intent-based (RFQ) core contracts, which are critical in governing commercial transactions and facilitating agreements.
While IntentX functions as a trade coordination marketplace for quotes, SYMMIO acts as the settlement layer, enhancing product offerings and emphasizing both innovation and user experience, supporting over 180 tradable markets and providing up to 60x leverage.