Orderly Network set to airdrop tokens this summer as it launches points program

Orderly Network, a decentralized trading infrastructure protocol, has launched its points program ahead of its token launch this summer.

Dubbed "Merits," the points program begins next week, Orderly Network said Monday. Users can earn merits that will be converted to 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 program's design, such as its end date.

Orderly will take several airdrop snapshots and calls its points and airdrop campaign "The Road to The Order." "We currently expect more than ten epochs for the campaign, lasting approximately one week each," Yi said. "An epoch marks a snapshot for participants in The Road to The Order, and certain epochs will lead to more Merits than others based on ongoing Orderly Network activities during the overarching Road to The Order campaign."

Orderly Network token

Yi said that the token's total supply will be one billion. He declined to disclose 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 marked for airdrops, but he said it would be a "significant portion." "Overall, the majority of our token supply will go to the community, with the airdrop being one key component," he said.

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Notably, the Road to The Order campaign only applies to Orderly's Ethereum virtual machine chains and traders, which are Arbitrum, Optimism and Polygon, Yi said. He noted that NEAR +11.62% traders won't be a part of the campaign, but their activity while the campaign is ongoing still counts toward the airdrop. "Trading through NEAR before and during The Road to The Order will still qualify those traders for the Orderly Network airdrop," Yi said, adding that "At the end of the day, all traders on Orderly from the very beginning through the launch of the Orderly token will receive 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 funds in a token round.

Asked about investors' vesting schedule, Yi said there are no unlocks for investors at the token generation event or "for a significant time after," declining to comment on specific timelines.

Orderly Network was incubated in 2021 by Near and Woo Network. It offers a trading infrastructure for decentralized exchanges. While the Near blockchain remains central to Orderly, it plans to create an omnichain protocol, supporting both EVM and non-EVM chains in the future.