Orbs’ dTWAP Order Is Now Live on the Pangolin DEX
Pangolin DEX has just become the very first Avalanche-based platform to integrate with Orbs’ dTWAP. This means that Pangolin users can now access the dTWAP order type, thanks to the integration with the decentralized, permissionless, and customizable protocol.
As one of the leading decentralized exchanges, Pangolin DEX boasts over $34 million in Total Value Locked (TVL). It is also worth noting that the decentralized exchange (DEX) records roughly half the TVL value in weekly trading volume.
What Does Orbs’ dTWAP Bring to the Table?
Like the majority of top DEXes, Pangolin DEX supports market and limit swaps. By integrating with Orbs’ dTWAP, Pangolin offers users new ways to benefit from reduced price impact. At the same time, it enables traders to develop new strategies to improve earnings.
⚖️ We're excited to announce we've integrated @orbs_network!
— Pangolin ?☀️ (@pangolindex) February 23, 2023
This enables decentralized time-weighted average price (dTWAP) swaps on #Avalanche from the Pangolin swap widget ?
To use, select "TWAP" next to ‘Market’ and ‘Limit’ on our swap page: https://t.co/GmuTNaDk07 pic.twitter.com/zuX6XS8faR
dTWAP works in the same way TWAP works in traditional finance. To minimize the market impact of large orders, dTWAP splits such orders into smaller pieces. This strategically reduces price impact, irrespective of overall liquidity.
The benefits of dTWAP to traders do not stop at reducing price impacts. The newly introduced order type will also allow users to dollar-cost average into supported crypto assets.
Accessing the Orbs’ dTWAP Order on the Pangolin DEX
Pangolin DEX's current users will mostly find it easy to access the new dTWAP order type. It is prominently included in the Pangolin DEX menu, next to ‘Market’ and ‘Limit’ orders. The efficient placement means users can easily swap from one order to the other options.
As hinted earlier, Pangolin DEX allows users to customize their parameters. Here’s a summary of what they can customize:
- Overall duration to execute split order pieces of a large, fragmented transaction
- The size of each trade (the UI will then calculate the number of trades required)
- The trading interval between individual orders
Improving the DEX Industry
The DEX industry is in its infancy stage, and Orbs is focused on becoming a go-to standard in the industry. With the dTWAP order available in some decentralized exchanges, Orbs has introduced many traders to the benefits of sophisticated decentralized applications utilizing fragmented liquidity.
While Pangolin is the first Avalanche-based platform to integrate Orbs’ dTWAP, it is the second primary protocol to do so, after SpiritSwap. Many other DEXes are already in the process of integrating the dTWAP order, including QuickSwap and SpookySwap.
Pangolin and Orbs have been in close partnership for a while. The integration of dTWAP is the latest of potentially many more integrations to come.
