SpookySwap, the largest DEX by TVL on the Fantom blockchain has completed its integration with dTWAP, developed by the Orbs team and powered by the Orbs network. The integration comes after completing the process on SpiritSwap and Pangolin DEX, as we continue to see new DEXs adopt the dTWAP standard.
dTWAP is a fully decentralized, permissionless, and composable DeFi protocol developed by the Orbs team and powered by the Orbs network. Traders utilizing the DEX will now have access to the sophisticated order type, dTWAP.
The integration highlights the close collaboration between the Orbs team and SpookySwap, and displays a working relationship that other projects can look to model to adopt the standard quickly. The Spooky team did most of the integration work, including their custom front end, with minimal help from Orbs developers. This was possible due to the smart contract audits (1,2) and the high-level developer documentation of dTWAP.
Orbs is a decentralized protocol executed by a public network of permissionless validators using PoS, staked with TVL valued at over a hundred million dollars. Orbs pioneers the concept of L3 infrastructure, by utilizing the Orbs decentralized network to enhance the capabilities of existing EVM smart contracts, opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs and GameFi.
In the last seven days, SpookySwap has facilitated a trading volume of 76 million dollars and boasts a TVL of 97 million. The order types that make up this volume are: Market, Limit, and Cross-Chain. dTWAP will expand Spooky’s offerings, allowing dTWAP to tap into a marketplace with robust trading volumes.
TWAP is an algorithmic trading strategy utilized in CeFi that aims to reduce the impact of large orders on the market by breaking them down into smaller portions over time. By executing smaller orders, this approach lessens the price impact and enables traders to gradually acquire various assets over a specific period of time. Spooky’s traders can now utilize these key features without sacrificing decentralization.
Those familiar with the DEX can find dTWAP in a familiar location, next to the other order types supported by Spooky. When switching to the dTWAP UI, users are presented with a fully customizable dashboard that updates in real time as they make changes to their orders.
Before executing dTWAP, three parameters need to be specified:
These parameters provide significant flexibility in customizing each order, taking into account factors like market conditions and current gas fees. Additionally, the UI facilitates both dTWAP-market and dTWAP-limit orders. Once these parameters are set, the user can approve the specific source token, place the order, and review their specified configuration.
Here’s a short tutorial on how to set up the dTWAP order on Spooky:
Following up on the last announcement, with Pangolin adopting dTWAP, there are now three DEXs that have fully integrated with the DeFi standard that is dTWAP. The three integrations prove the working use case and DeFi participants' desire to access more sophisticated trade orders.
The next integration is planned to be QuickSwap, for those of you paying attention to dTWAP’s landing page and the Orbs blog.
The Orbs Network is an open, decentralized and public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus.
Orbs is set up as a separate decentralized execution layer operating between existing L1/L2 solutions and the application layer, as part of a tiered blockchain stack, without moving liquidity onto a new chain. Orbs acts as a “decentralized backend”, enhancing the capabilities of existing smart contracts and opening up a whole new spectrum of possibilities for Web 3.0, DeFi, NFTs and GameFi.
Orbs was founded in 2017 and launched its mainnet and token in March of 2019. Orbs is being developed by a dedicated team of more than 30 people, with offices in Tel Aviv, London, New York, Tokyo and Seoul.
For more information, please visit www.orbs.com, or join our community at: