In this article, I'll be covering OpenOcean, a well-developed aggregator that gives users access to liquidity from a wide range of markets, using both decentralized and centralized trading platforms.
Why Pursue Using Dex Exchanges?
The answer is simple, decentralized (Dex) exchanges are not controlled by the central authority or third party. So the user retains full control of their funds stored or traded on (DEXs), which gives a higher degree of security than Centralized exchanges (CEXs). Decentralized exchanges run on many popular blockchains and require a smart contract to operate. (DEXs) runs on many popular blockchains such as Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, Tron, Heco, Ontology, and many others. To receive the best and most efficient price for a swap, the user must carefully check for the best price across all the (DEXs). Checking manually is not very efficient and does not enable complex trading routes and paths. Thus, sophisticated DEX aggregator algorithms are key for saving money on swaps. The largest exchanges in (DEXs) are Uniswap, Mdex, 1inch, Sushiswap, Pancakeswap.
How Openocean Is Changing The Decentralized Finance With Its Unique Attributes?
OpenOcean project was initially started in late 2019 in Singapore and delivered the first version of their product in September of 2020. The inception of OpenOcean is simple, give traders the best rates possible for the trade they want to perform. Openocean, one of its kind is a full-fledged decentralized exchange that runs on many blockchains. It aggregates both DEX and CEX. It is the first aggregator that runs on Binance Smart Chain. Despite that Openocean runs on 7 blockchains that are ETH, BSC, ONTO, TRON, SOL, POLYGON, HECO, and many more to come. Across all chains, openocean currently aggregates 29 (DEXs) and 1 Centralized exchange Binance. This helps users to get the best possible price for each supported token. OpenOcean has now over 200k active unique addresses with over 730k total transactions approximating to $2 billion USDT in transaction volume since its starting. Some big companies in the crypto world invested in openocean and that are Binance, Huobi Global, Multicoin Capital, CMS Holdings, Kenetic, Altonomy, LD Capital, DAOMaker, OKEx Blockdream Ventures, AU21, FBG, TRON Foundation, Asymmetries Technologies, and LIAN Group.
Unique Traits:
1. It supports cross swap transactions.
2. It offers the best possible rate and lowest gas fees by using machine learning and intelligent routing.
3. It aggregates best (DEXs) on multiple public chains.
4. It provides both derivative and spot trading.
5. It has a cutting-edge trading interface to help users to get the best possible trading experience.
6. It provides an API and arbitrage tools to help users to get extra advantage of arbitrage opportunities.
7. It supports 13 different wallets, including MetaMask, Wallet Connect, Onto Wallet, Trezor, and Ledger.
The OOE Governance Token:
New Dex exchanges are coming out with their governance token to give their users a compliment of using their platform and openocean is also doing the same thing. The person that holds OOE Governance Token in large amounts will receive VIP benefits, such as reduced trade fees, voting rights in the openocean community, CEX VIP Membership. On 12th July openocean issued their governance token OOE on multiple Chains with a total supply of 1 Billion. A total of 2% supply of OOE token was allocated to users who had traded on openocean if they meet certain eligibility requirements. OOE is officially trading on Kucoin and Openocean websites.
Distribution Of OOE Governance Token:
. 18% of the total supply is allocated to the team members and Advisors.
. 29% of the total supply is reserved by the team to develop the openocean protocol.
. 2% of the total supply was allocated to the users who traded on openocean.
. 34% of the total supply will be used in liquidity mining programs for 5 years.
. 7% of the total supply will be used in ecosystem foundation for community and future campaigns.
. 10% of the total supply is reserved for Investors that invested in openocean.
Conclusion:
Since the launch of the OOE token, Openocean has achieved a new dimension to the project, so OpenOcean is exactly a tremendous DEX to keep an eye on your radar if you need an aggregator to satisfy your cryptocurrency trading needs. Since OpenOcean’s DeFi aggregation service is free to use, there aren't any drawbacks in checking out the platform.
Website:https://openocean.finance/
Twitter:https://twitter.com/OpenOceanGlobal
Discord:https://discord.gg/cxK6CCYcGp
Telegram Group:https://t.me/OOFinance
Telegram Announcement:https://t.me/OOFinanceAnn