A BRIEF EXPOSE ON OPENOCEAN
What Is OpenOcean?
In the last decade, the blockchain space has seen the emergence of multiple crypto projects and platforms; all pitching in to revolutionize the face of the blockchain industry.
OpenOcean is one of such projects, only it is highly unique and this article will tell you just why. Because the world has never seen a full aggregation infrastructure for trading cryptocurrency and that is exactly what OpenOcean is. They source liquidity from CeFi markets as well as DeFi markets and guess what? They also allow swaps across different chains.
How is OpenOcean steamrolled?
First, their super-smart routing algorithm fishes out all the best prices from CEXes and DEXes. Next, it divides the routes to allow traders access to the top-notch prices featuring fast settlement and knows slippage.
What is using OpenOcean going to cost you?
Nothing! OpenOcean is 100% free. All you need to foot are exchange fees and blockchain gas fees which are pretty much routine on any blockchain platform. And these fees are not charged by OpenOcean but the exchanges themselves.
Aggregation on OpenOcean
Major exchanges from CEXes to DEXes are aggregated by OpenOcean. Others include Ethereum and Ethereum Layer 2 like HECO, Binance Smart Chain, Solana, Polygon, TRON, Loopring, and so on. One little nugget to note here is that OpenOcean is the first all-around aggregator on Ethereum Layer 2, Binance Smart Chain, and TRON. The OpenOcean team is committed to meeting the defined needs of different communities by aggregating public chains. Rather cool if you ask me.
OpenOcean is not only aggregating swaps. This platform also aims to carry on with aggregating lending, derivatives, yields, and insurance products; after which they would be launching their smart wealth management services and combined margin products.
On OpenOcean, there are arbitrage tools to help users run automated arbitrage strategies. OpenOcean also features API.
Besides aggregation of swaps, OpenOcean will continue to aggregate derivatives, yields, lending, and insurance products and launch its combined margin products and intelligent wealth management services. OpenOcean provides not just an Application Programming Interface, but also arbitrage instruments for users to run arbitrage tactics that have been automated.
The singular direction OpenOcean’s team is driving towards is building the whole aggregator for cryptocurrency trading. What will be the resultant effect?
(I) Connecting the isolated island in the present fractured CeFi and DeFi marketplaces
(II) Increasing capital efficiency
OpenOcean strongly opines that the size of an individual investor or institution should not deny them the golden chance to trade and apply personal investment tactics to various crypto asset classes after trading.
In case you were thinking about it, OpenOcean comes with a token of its own known as OOE. OOE is both a governance and utility token on the OpenOcean platform.
Highlights of OpenOcean
(I) Full Aggregation
(II) Full User Coverage
(III) Cross-chain Support
(IV) Trading Aggregation
(VII) Insurance Product Aggregation
OpenOcean is one project that has got everything figured out. And this includes their industry investors, with whom the platform has been able to complete private placement fundraising as well as smart investments. This is led by reputable companies such as Huobi Ventures Blockchain Fund, Binance, LD Capital, DAOMaker, FBG, Kenetic, Multicoin Capital, CMS, Altonomy, TRON Foundation, LIAN Group, AU21, OKEx BlockDream Ventures, and Assymetries Technology.
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