India’s lucrative crypto market is a prize that’s coveted by many blockchain projects. Gaining a presence in the country is rarely straightforward, though, given its government’s sometimes antagonistic stance on cryptocurrency. Orbs Network has succeeded where other projects have failed, however, in having its token listed on CoinDCX, one of India’s leading exchanges.
India’s Complicated Relationship With Crypto
India’s thriving tech industry is well documented, and it was inevitable that the county would take to crypto with aplomb. An estimated 97.5 million people, making up 7.1% of India’s population, currently own cryptocurrency and the country recorded $269 billion in trading volume in the 12 months running till June 2023. Crypto adoption within the world’s largest country, comprising over 17% of the global population, has been hampered by strict regulations however.
While the outright ban on crypto assets that was once mooted hasn’t come to pass, the Indian government is nevertheless strict when it comes to regulating the industry. In December, compliance orders were issued against nine global exchanges operating offshore. As a result exchanges such as Binance have been forced to cease operations within the country.
By securing a listing on CoinDCX, Orbs Network has ensured that Indian citizens will be able to access the ORBS token and use it to participate in staking and DeFi activities on the layer3 blockchain.
Orbs Goes All in on India
Orbs Network has been focused on India’s blockchain scene for some time now. In December, it sponsored the ETH India event in Bangalore and VP of Business Development Ran Hammer delivered a talk on staking at the two-day conference. Securing a listing on CoinDCX will support Orbs’ operations in the region by making ORBS available to domestic cryptocurrency users.
Because crypto assets are paired against the Indian rupee on CoinDCX, users can trade markets that are priced in their domestic fiat currency. An ORBS/INR pair is now live on the Indian exchange. In addition to being added to CoinDCX, ORBS has also been listed on Bybit, OKX, and Binance.
Decentralized Trading Tools Go Cross-Chain
Demand for the ORBS token is expected to grow as more projects build out protocols that make use of Orbs Network. Already, Orbs-developed products such as dLIMIT and dTWAP have been integrated into DEXes on EVM chains Linea and BNB Chain. THENA has added the Orbs decentralized trading tools to its BNB Chain liquidity layer and has also been the recipient of a $600,000 investment from Orbs.
dLIMIT and dTWAP have become Orbs’ flagship products on account of the utility they provide for DEX traders, both on Orbs Network and on other EVM chains. dLIMIT allows limit orders to be placed on chain, while dTWAP supports time-weighted average price (TWAP) orders, allowing large positions to be built up without causing major slippage.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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