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Orbsannounced a $600,000 investment plan in a decentralized exchange, THEN ONE.
The blockchain infrastructure company said the investment plan aims to improve and expand THENA’s decentralized products as well as modernize the operational landscape of the BNB chain.
With this investment move, Orbs aims to ensure that Web3 and blockchain projects can reach their full potential. Therefore, to achieve this, the blockchain company highlighted the need to improve the functionality of EVM chains.
According to Ankit Saxena, CEO and co-founder of THENA, the company is happy with this vision and new partnership. Ankit further said that Orb’s vision is in line with that of THENA, emphasizing that the development will strengthen mutually beneficial relationships in the channel’s Asian market.
Orba also promised technical support to the decentralized exchange company to ensure that the funding is put to good use and that THENA can achieve the set goals, including increasing liquidity, transaction efficiency and pricing .
To this end, certain initiatives have been put in place to get a good number of existing user engagements and also onboard new users, which will help put the company ahead or on par with other competitors in the Web3 business.
According to Orb, the first tranche of the investment will be paid into the treasury as a strategic reserve. According to the company, this will ensure THENA’s long-term sustainability and success in this new journey.
While this new partnership isn’t the first ever between these giants, Orbs and Thena have collaborated in the past on projects that proved productive.
For example, in June this year, THENA reportedly collaborated with Orbs dLIMIT and dTWAP to improve the trading functions of its native decentralized exchange and also improve users’ trading experience.
So, with this new collaboration, THENA users are expected to benefit from an enhanced user experience and strengthen the presence of the DEX platform in the Asian on-chain market, among other initiatives underway with this collaboration and capital investment.
What you need to know about orbs
Orbs was founded in 2017 and since its inception, the blockchain infrastructure company has focused on innovation and use cases supported by network technology.
Orbs is popular for its protocols, which are dTWAP and dLIMIT, which are fully decentralized and compatible with most decentralized exchanges (DEX).
The Orbs token is live on major exchanges such as SpookySwap, THENA, Chronos, to name a few.
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