Orderly (ORDER)

No, James Wynn did not build his own perp dex. He used @OrderlyNetwork to white-label a perp dex with his name on it. Orderly is fascinating as a concept but their recent "permissionless listings" begs the question "what could possibly go wrong?"

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OGAudit Web3 Research: @OrderlyNetwork $ORDER - The https://t.co/32vwgKG7K8 of Perp DEXes or Just More DeFi Infra?

Orderly is headless omnichain trading infrastructure, builders own the frontend and Orderly provides the CEX grade backend:

- Shared orderbook and settlement layer across 18+ chains enables any team to launch a branded perpetual DEX via API, SDK or no code Orderly One without bootstrapping isolated liquidity.
- OmniVault accepts USDC deposits from Base, Arbitrum and Optimism as the primary liquidity source for the shared orderbook, delivering 27.2% average APR across 156 profitable days out of 157 tracked, with TVL growing 168.9% in 2025 to $51.3M.
- 60% of protocol fees fund ORDER buyback and burn with 30% of circulating supply staked, rewards tied directly to real protocol income from $37.2B in cumulative trading volume with esORDER rewards across EVM and Solana expanding the ecosystem builder base.

Is this the infrastructure that powers the next generation of perp DEXes regardless of which frontend wins or does an 88% ATH decline, $21M market cap and 59% of supply still locked with ongoing vesting create a structural dilution story that outweighs the product strength?

Category: DEX
Coin Name: $ORDER
Circulating Supply: 414M
Market Cap: $21M
Market Cap Rank: #822
OG (Trust) Score: 34.59
OG Score Rank: #1047
Reviewed by 5 OG Auditors.

See the full audit, reviews and more on the $ORDER Coin page: ogaudit(.)com/crypto/orderly-network-order
https://t.co/ig9iu6vw6w