Orbs has introduced its latest protocol, Perpetual Hub Ultra 2.0, which aims to streamline the establishment of branded perpetual futures exchanges on its decentralized Layer 3 blockchain. This new system integrates essential trading components into one platform, simplifying the often complex process of launching on-chain perpetual markets.
Key Features of Perpetual Hub Ultra 2.0
The protocol consolidates various functionalities required by derivatives venues, such as execution, settlement, and risk management, into a cohesive architecture. With this approach, Orbs intends to provide a quicker route to market for trading venues while enhancing the performance consistency for traders.
One notable feature is the immediate access to liquidity, which is facilitated by a hedging layer that connects both centralized exchanges and notable on-chain perpetual markets. This setup is designed to aggregate liquidity, thus allowing for tighter spreads and a wider selection of trading pairs versus relying on a single source.
Operational Efficiency and Security
Ran Hammer, Vice President of Business Development at Orbs, emphasized the challenges inherent in launching a traditional perpetual venue. He pointed out that the new protocol addresses these concerns by managing the entire trade lifecycle within a single framework, reducing the need for multiple service providers.
The execution of trades takes place in a Trusted Execution Environment (TEE), ensuring that each transaction is processed securely. Remote attestation allows participants to confirm the integrity of execution processes, guarding against tampering. A dedicated team of whitelisted hedgers operates under stringent service guarantees to route hedges to various markets.
Innovative Trading Tools
In addition to its robust execution framework, Perpetual Hub Ultra 2.0 incorporates a cross-margin risk model alongside a real-time liquidation engine. This setup continuously assesses account solvency across the system. Prices are derived from a proprietary mark price feed within the TEE, with cryptographic safeguards that produce an auditable log of every update.
The architecture benefits from the speed and efficiency of off-chain execution, partnered with the reliability of on-chain settlement. Venues implementing this protocol also gain access to a comprehensive trading interface, featuring tools such as market orders, stop-loss options, and gasless transactions, further enhancing user experience.
