Orderly Network, a decentralized trading infrastructure protocol, has launched its points program ahead of its token launch this summer.
The points program, called “Merits,” will begin next week, Orderly Network said Monday. Users can earn earnings that will be converted into the Orderly Network token when it launches, Ran Yi, co-founder and CEO, told The Block, declining to comment on the ratio as there is “some flexibility” in the design of the program, such as an end date.
Orderly will be taking several airdrop snapshots and is calling its points and airdrop campaign “The Road to The Order.” “We currently expect more than ten eras for the campaign, each of which will last about a week,” Yi said. “An era marks a snapshot for participants in The Road to The Order, and certain eras will lead to more earnings than others based on ongoing Orderly Network activity during the umbrella Road to The Order campaign.”
Orderly network token
Yi said the total supply of the token will reach one billion. He refused to release the ticker symbol to prevent bad actors from launching tokens with the same ticker symbol before the official token launch.
He also declined to comment on the percentage of the token’s total supply earmarked for airdrops, but said it would be a “significant portion.” “Overall, the majority of our token supply will go to the community, with the airdrop being a key component,” he said.
Notably, the Road to The Order campaign only applies to Orderly’s Ethereum virtual machine chains and traders, namely Arbitrum, Optimism and Polygon, Yi said. He noticed that NEAR
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Merchants will not be part of the campaign, but their activity during the campaign will still count towards the airdrop. “Trading on NEAR before and during The Road to The Order will still qualify these traders for the Orderly Network airdrop,” Yi said, adding that “ultimately all traders on Orderly from the very beginning through the launch of the Orderly token receives a portion of the airdrop.”
‘No unlocks’ for Orderly’s investors
Orderly is backed by several high-profile investors, including Sequoia China, Pantera Capital, Dragonfly, and Jump Crypto. It was valued at $200 million a year ago when it raised money in a symbolic round.
Asked about the investor vesting schedule, Yi said there will be no unlocks for investors during the token generation event or “for a significant period of time afterward,” and declined to comment on specific timelines.
Orderly Network was incubated by Near and Woo Network in 2021. It provides a trading infrastructure for decentralized exchanges. While the Near blockchain remains central to Orderly, it plans to create an omnichain protocol that will support both EVM and non-EVM chains in the future.
