New York, USA, August 12th, 2024, Chainwire
Orderly Network is proud to announce @lBattleRhino as the winner of its landmark trading competition, the World Series of Trading (WSOT) X Crypto Championships.
Launched on July 15, the four-week long competition featured 12 elite traders renowned on 𝕏, all battling it for a spot on the podium. Traders were hosted by a selection of Orderly-powered DEXs, WOOFi Pro, IBX, LogX Pro, VOOI, and OXMarkets, with each trader starting with a collateral of just $10,000 before exploring where their trading skills could take them.
WSOT’s star-studded line-up of traders included @DeFiSquared, @CL207, @theo_crypto99, @izebel_eth, @satsdart, @thiccyth0t, @Timeless_Crypto, @lBattleRhino, @naniXBT, @gametheorizing, @zhusu, and @ByzGeneral.
Now after a month of competition amidst turbulent market conditions, @lBattleRhino has swept in to seize victory and the grand prize of $100,000 USDC. Honorable mentions also go to @gametheorizing and @satsdart, who have taken second and third place, and prizes of $50,000 and $25,000 respectively.
Beginning with $10,000 each in collateral, competing throughout this period of unprecedented volatility has enabled the WSOT to offer not just a fantastic showcase of the world’s best elite trading talent, but a confirmation of Orderly Network’s position as a foundational omnichain service layer for the future of DeFi.
Based on a points system similar to Formula 1, the master traders competed across four, one-week long ranking sessions, receiving points for each session based on their position in the leaderboard. This approach has encouraged consistent trading and pushed competitors to trade creatively, while providing plenty of unexpected thrills for spectators.
Such moments of high drama included the early liquidation in week 1 of popular crypto trader @thiccyth0t, who was knocked out of the competition whilst shorting $WLD on VOOI.
Week’s 2 and 3 ushered in more surprises, as markets remained unpredictable. Whilst Orderly Network’s renowned top-of-book liquidity withstood all turbulence, with 24-hour trading volumes surpassing $1.5 billion during this period, there was no saving many of the traders – including week 2’s leader, Jordi Alexander (@gametheorizing).
Alexander, the Founder/CEO of Selini Capital, said the following of the WSOT competition:
“Competitions are always fun and involve a lot of game theory – the trading competition has not been just about trading well but also trying to consider opponents’ trades and staying ahead of them, which is even more strategic.”
“The current WSOT is fantastic. I think that this competition has been a rousing success; mostly in part because we have so many great traders in it. I think it also really highlights the great benefits of Orderly overall and how versatile it is. Traders are trading on many different dexes and they’re all powered by Orderly,” said @AltcoinSherpa, popular retail trader and WSOT official commentator.
Ran Yi, Co-Founder, Orderly Network, highlighted the resounding success of WSOT as an avenue to put the Orderly infrastructure to the test by the best traders in the world:
“We are extremely grateful to every trader who participated in WSOT, as well as those who helped make it happen. WSOT 1.0 was an exciting and rewarding experience for everyone involved. It not only showcased the strength of our infrastructure but also provided invaluable feedback from top traders that will help us improve Orderly even further. If you thought WSOT 1.0 was impressive, just wait until you see what we have in store for WSOT 2.0. Stay tuned.”
According to Dune Analytics, Orderly Network has already earned over $8 million in net fees, excluding the share generated by builders operating on the protocol. For those who hold and stake $ORDER, 60% of new net fees will continually accrue to them, with the possibility of future percentage increases
About Orderly Network
Orderly Network is a permissionless liquidity layer for Web3 trading. Built on omnichain infrastructure, Orderly enables deep liquidity for any asset across multiple blockchains. Focused on a future of DeFi that’s open to all, Orderly empowers developers to fluidly create a comprehensive array of financial products for any level of trader, without the risks of wrapped asset movement through cross-chain bridging.
Learn more at orderly.network
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Contact
Drew Pierson
pr@orderly.network
