OpenOcean is the first on-chain crypto transaction aggregation protocol that focuses on deploying liquidity aggregation on multiple decentralized and centralized exchanges (DEXs and CEXs). The project was established at the end of 2019 and its first online version was released in September 2020.
By applying the protocol, crypto-assets traders can easily execute trades at an optimal price with low slippage via an optimized smart routing algorithm. OpenOcean offers a protocol that is free of charge for individual traders and can be used by anyone.
This means individual traders get access to deeper liquidity at no cost. For advanced custom-made UI and investment strategy execution, OpenOcean will charge a fee to institutional investors. The OOE token is the governance token that provides holders with voting rights within the OpenOcean community.
In addition, OpenOcean DEX users can benefit from gas price subsidies and price slippage following its future strategy. The team also expects to undertake an initial liquidity mining scheme after the release of the OOE.
OpenOcean is among the emerging participants that are looking to support free-flow crypto trading on various chains in one place. The protocol brings together a sophisticated set of tools and scalable architecture to leverage their liquidity aggregation abilities.
Liquidity pools on DEXes and CEXes that OpenOcean has aggregated, such as ETH, BSC, ONT including pairs like OOE / ETH, OOE / DAI, OOE / BNB, and others will be deployed.
What Does OpenOcean Do?
The lack of a convenient one-stop solution for trading crypto assets between DEXs and CEXs supported by price comparison is one of the biggest challenges in the DeFi space. Asset prices vary from different DEXs and CEXs and users often have difficulty comparing prices between different trading platforms.
Another problem is the lack of toolsets to support investment strategies like spreads and CTAs. Most of the trading instruments on DEXes are incomplete and…