A brief look into Open Ocean
OpenOcean is the world’s first leading full aggregator which provides the entrance to crypto trading and pools liquidity from both the DeFi(Decentralized Finance) and CeFi(Centralized Finance).
With the vision of building a full aggregator for crypto trading that serves as a bridge connecting the isolated islands in DeFi and CeFi, OpenOcean is dedicated in building an ecosystem that’s beneficial to all kinds of users in the current fragmented market.
OpenOcean now offers crypto traders the best possible price with lowest slippage. OpenOcean protocol utilizes an optimized version of the Dijkstra algorithm called D-star, which splits routing between different protocols for better rates. OpenOcean then compares the best prices on DEXs and CEXs before empowering users to have their order executed at the best possible rate.
What does full Aggregation mean?
· DeFi Trading Aggregation
OpenOcean plans to aggregate the majority of public chains and the majority of the Dex ecosystem. OpenOcean currently has aggregated nearly 20 mainstream DEX providers from ETH, BSC, Tron and ONT and helped users to find the best swap prices by splitting them into paths to achieve the best price and lower slippage transactions. OpenOcean will also support public chains such as Polkadot, Solana, Eth Layer 2 and almost all mainstream wallets.
· Cross-chain support
OpenOcean now supports cross-chain interaction between the BSC and Ethereum and other public chains via Binance Bridge, and will support direct cross-chain transactions in the future once the infrastructure is ready. OpenOcean will also enable cross-chain transactions by aggregating the Dex of the Polkadot ecosystem. withdrawal to any chain from your OpenOcean account to your wallet after your transaction on the aggregated CEX has been Enabled.
· What can users do on OpenOcean
OpenOcean is a bridge to asset trading on DeFi and CeFi platforms that guarantees the best price, low fees and slippage. Open ocean is the first aggregator in terms of volume on Binance smart chain (BSC) and first aggregator on TRON.
· Why use Open Ocean?
1. Instant spot trading with the best price and lowest slippage possible between both DeFi and CeFi platforms.
2. Performs cross-chain swap transactions supported by Binance Bridge and withdraw to any chain supported by your OpenOcean account
3. Instant low cost arbitrage between DEXes and CEXes
4. Experience low cost on transactions
5. No fees are charged to DeFi user for the current route finding function.
OpenOcean currently supports the Ethereum Network, Binance smart chain, the Tron network and the Ontology Network
To come on OpenOcean are Solana, Ethereum Layer2 and Polkadot(coming soon)
· Full user coverage
OpenOcean will support not only DeFi users, but also CeFi users. Support is not only for novice traders but also for professional traders. The existing interface is user-friendly and completely free for users. For funds and professional traders, OpenOcean provides an API interface and customized trading interface services to assist investment institutions in developing trading strategies such as quantitative arbitrage.
How much progress has been made?
OpenOcean has more than 150,000 unique addresses from 210+ countries and regions, 440,000+ transactions, with $800 million+ in trading volume from inception to March 26th, 2021.
Twitter: twitter.com/OpenOceanGlobal
Telegram: t.me/OOFinance
Meduim: openoceanglobal.medium.com/
Refrence: openocean.finance/
