Today, let's experience AscendEX DEX, the latest brokerage launched on Orderly Network.
I am very excited about this brokerage because AscendEX may introduce many traders from centralized exchange platforms into the DeFi world through its integration with Orderly Network.
What is AscendEX
AscendEX is a full-stack cryptocurrency financial platform created by investors with over a century of experience on Wall Street. The platform provides simple solutions for investment, trading, and profit, helping users maximize portfolio returns.
Previously, they have been focused on building their highly successful centralized exchange, which has become one of the top exchanges in the cryptocurrency field.
Recently, they have utilized Orderly Network's technology to establish their own Perp DEX platform, entering the decentralized Perp field.
This demonstrates their commitment to decentralized cryptocurrency, which is a trend we have seen more and more of in recent years, and I expect this trend to continue in the future.
Next, I will introduce how to start using AscendEX DEX and earn Orderly Merits while using their platform.
AscendEX DEX User Guide
STEP 1. Connect and select an EVM wallet, you can choose from Metamask, Rabby Wallet, Phantom, etc.
STEP 2. Once connected to the wallet and switched to Arbitrum, Optimism, or Base, you need to sign and confirm 2 pieces of information in the wallet. The first is to confirm the wallet you are connected to, and the second is to enable the wallet for trading with AscendEX DEX.
Tip: No gas fee is required to sign these two pieces of information.
STEP 3. After connecting and enabling trading, you can deposit funds into your AscendEX DEX account. To do this, you need to have native USDC on the Arbitrum, Optimism, or Base network.
STEP 4. A pop-up window will first prompt you to approve the deposit of native USDC from your wallet into your AscendEX DEX account (you need to sign in the wallet and pay a small amount of gas), then proceed with a second transaction to complete the actual deposit (similarly, you need to pay gas to complete this deposit, but the cost of interaction on networks like Arbitrum is extremely low).
STEP 5. Deposit transactions typically take 30 seconds to 2 minutes to process. Once completed, the funds will appear in your account and can be used for actual trading as shown in the image below.
Earning Orderly Merits Rewards through Trading
By using AscendEX DEX, you are eligible to receive Orderly Network's Merits rewards, which are part of the "Orderly's Road" activity. As your trading volume on AscendEX DEX increases, you will receive Orderly Merits rewards proportional to the completed trading volume.
Additionally, you can check how many Merits you have earned in an activity period by accessing Orderly Network's official application. So start trading and improve your ranking.
Trading Volume on AscendEX DEX - Earning Merits on app.orderly.network
Conclusion
In the coming weeks, as the AsecndEX team launches new products and the Orderly Network activity begins, I expect the trading volume of AscendEX DEX to truly start growing.
This is another important member of the Orderly Network brokerage family, and I am pleased to see another centralized exchange entering the decentralized field.
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