The bitcoin market now offers users hundreds of different decentralized and regulated exchanges to choose from. Decentralized finance (DeFi) is expanding, which increases the market’s potential by bringing in new DEXs and automated market makers on a regular basis. The end user will always benefit from having options, but it may be challenging to choose which platform to use from the bewildering array of cryptocurrency exchanges that are currently available.

Because of this, there is a high demand for cryptocurrency market aggregators. Customers can access the liquidity and pricing of multiple exchanges at once through aggregators like OpenOcean, which gives them the opportunity to find the best rates and least expensive costs for their transactions. It is a multi-chain exchange that connects centralized and decentralized financial systems.

A significant challenge in the cryptocurrency market was addressed by the development of OpenOcean: integrating liquidity to make transactions as easy, as quick, and with as little spread as possible. Visit this page to learn more about OpenOcean’s advantages, its functionality, transaction costs, investors, team, and project plan. Learn more about Coincu’s DEX now.

What is OpenOcean?

In order to facilitate the best possible purchasing, OpenOcean, a DEX aggregator, pools liquidity from various DEX and CEX markets. The most noteworthy feature of OpenOcean is its cross-chain development across a variety of platforms, including Ethereum, BNB Chain, Ontology, and Tron, which spares users from having to access multiple platforms. The project intends to develop on Polkadot or Solana in the future.

Since it unifies the list of centralized and decentralized exchanges, users may benefit from competitive trading prices and reduced slippage.

Highlights of the DEX aggregator : Opeanocean

OpenOcean has a few crucial traits that enable it to efficiently serve its customers. The best fills and gas prices are found by its optimizing algorithm, which is based on Dijkstra and D-star, by determining the best starting path for users. After that, the program uses machine learning to continuously optimize routes using data. With this technique, accurate and effective aggregation is possible without significantly raising costs for customers.

A method created by OpenOcean to lessen users’ short-term loss through slippage subsidies is called Token Economic Subsidies. This safeguards customers in situations where their exchange value differs from or exceeds the anticipated value of the transaction. If the user’s exchange value exceeds the estimated value, they will receive a full refund. User compensation in the form of the platform token OOE is given when a transaction’s value is less than anticipated.

The group has also made available the OpenOcean DeFi Evaluation System (ODES), a tool for valuing assets. The system evaluates tokens based on risk exposure using a large amount of ecological data in order to protect users. Tokens have to fulfill certain “low-risk” requirements in order to be traded. This acts as an initial screening technique, giving OpenOcean customers an extra layer of security.

In the end, the team wants to help every trader by serving as a one-stop trading hub for all assets. The ability to trade on centralized exchanges like Binance, Coinbase, and Bitfinex is now available to OpenOcean Wallet users.

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By utilizing a portfolio margin pool, OpenOcean is also attempting to add derivatives platforms. To make it simple for users to access their front end, OpenOcean offers APIs and UIs that are tailored to their needs. OpeanOcean is currently creating a completely new UI/UX in order to provide its traders with the best tools possible. Generally speaking, the team wants to grow since they currently only offer aggregation to spot and DEX dealers.

The platform’s ability to aggregate liquidity from CEX in addition to DEXs is its most notable feature. In addition, compared to other platforms, OpenOcean integrates many more chains than just one.

When offering products for spot/swap trading, derivatives trading, borrowing/lending, and insurance in the future, it will have a very strategic direction.

Its special features are summarized as follows:

• Around 20 well-known DEXs, including ETH, BSC, Tron, and ONT, have already been gathered by OpenOcean. Offer the best price possible while trading, and reduce slippage.
• Support for cross-chain transactions: The DEX aggregator now permits cross-chain transactions between BSC, Ethereum, Polygon, and other chains via Binance Bridge. You can use your account on OpenOcean to withdraw money from any chain to your wallet.
• Trading aggregation links DeFi and CeFi: Users can freely choose to trade on DEX or CEX with the best price after analyzing pricing and liquidity.
• Loan, insurance, and derivatives product synthesis: To provide derivatives trading services, it will combine the DEFI and CEFI derivatives trading platforms. Additionally, it will provide services for smart investing and combine loan and insurance products.
  all users are covered: Both DeFi and CeFi users will be supported by the platform. assistance for both novice and seasoned traders.
• easy to use interface The straightforward user interface of OpenOcean is a key component. Users of the Classical edition, which has a general exchange feature, can use a variety of cryptos on the same interface. Additionally, the Professional edition permits direct trading and the development of a cryptocurrency trading wallet without the requirement for identity verification.
• APIs, trading tools for DeFi and CeFi liquidity derivatives, limit orders, profit and loss setting, candlestick charts for quick price monitoring, insurance services, and support for common wallets are all provided by OpenOcean.

   

Features of OpenOcean

Option Trading

To make sure they don’t miss any important information, traders on DEXs and CEXs can customize the user interface.

Accessible trading strategy tools include limit order and candlestick chart tools, profit and loss management, timely monitoring and reminders, and bespoke APIs with customized user interfaces.

Individual investors can use a straightforward interface to execute derivative and spot transactions at the lowest possible slippage costs.

Increased Liquidity

OpenOcean combines liquidity from significant DEXs and CEXs to provide transaction depth and a quicker response time. There is support for mainstream wallets. You can complete one-stop transactions on any CEX with the help of the OpenOcean portfolio margin pool and wallet. They offer the best pricing and the lowest slippage gas costs by utilizing intelligent routing and machine learning. They employ an improved version of the Dijkstra Algorithm (D-star) for protocol routing.

Arbitrage

You can use OpenOcean to find price differences between CEXs and DEXs as well as potential for arbitrage. On OpenOcean, you can also find a comprehensive guide to arbitrage.

OpenOcean Classic

The platform for switching in DEXs is simple. More token pairs are supported than in the Pro version.

OpenOcean Pro

It is an advanced arbitrage and trading tool with chart support. They also want to offer loans, insurance, and derivatives.

OOE Token

OpenOcean follows the majority of DeFi projects in issuing its own tokens. The project launched its native token OOE on March 8, 2021, with a total of 1 billion tokens. The OOE token serves a variety of purposes within the OpenOcean ecosystem. It is a voting governance token that entitles owners to cast ballots on various OpenOcean-related issues.

As a result of gas charge reductions and slippage subsidies provided by OpenOcean during special campaigns, OOE holders also benefit from lower transaction costs. On the OpenOcean platform, the currency can also be used to mine liquidity. Users who own a significant amount of OOE will benefit from a number of benefits when using OpenOcean’s centralized exchange aggregation capabilities.

Users who completed at least four legitimate OpenOcean transactions or carried out a transaction worth more than 40 USDT between the launch of the platform and March 8, 2021, received 10 million OOE tokens (1% of the total supply) from OpenOcean. People who didn’t receive the initial airdrop may be qualified for a subsequent round. This possibility gives those who haven’t traded on OpenOcean yet an additional reason to do so.

Key Metrics

• Token Name: OpenOcean token
• Ticker: OOE.
• Blockchain: Ethereum, BSC, Avalanche, Polygon
• Token Standard: ERC20, BEP20, ARC20, PRC20
• ETH Contract: 0x7778360f035c589fce2f4ea5786cbd8b36e5396b
• BSC Contract: 0x9029fdfae9a03135846381c7ce16595c3554e10a
• Polygon Contract: 0x9d5565dA88e596730522CbC5a918d2A89dbC16d9
• Avalanche Contract: 0x0ebd9537A25f56713E34c45b38F421A1e7191469
• Token Type: Utility
• Total Supply: 1,000,000,000 OOE
• Circulating Supply: 504,425,832 OOE

Token Allocation

• 5.6% is given over a two-year period to strategic investors who are working with the project
• 7.5% for private placement and strategic round two over 2.5-3 years
• Over three years, OpenOcean Lab and co-builders will save 29% on protocol development, onboarding value-added ecosystem partners, community developers, and bounty programs
• 33% over five years to attract future liquidity providers and motivate users
• 7% over three years to ecosystem co-builders that oversee OpenOcean ecosystem development, community incentives, campaigns, and so on.
• 15.9% for the team and advisers over three years
• 2% to early users, distributed upon the token issue.

Fees

Other than the network fees, there are no additional fees for transfers or withdrawals. In the four instances listed below, fees are charged:

Combined Margin Products.
a service that promotes wise financial management.
Institutional investors make payments to have an investment strategy displayed on their unique user interface.
Using a SaaS called Primary Membership Edition (PME), arbitrage opportunities between CEXs and DEXs can be automatically captured.

Core team

The OpenOcean team is made up of engineers and senior ex-workers from some of the biggest international technology companies and financial exchanges in the world, like IBM, Intel, and HP.

The project was co-founded by Tom Henriksson, an investor in MySQL and MariaDB, and Michael “Monty” Widenius, the creator of MySQL and one of its original developers. The two co-founders of OpenOcean have extensive experience building trading and investment platforms.

16 full-time employees with extensive blockchain development experience make up OpenOcean’s development team. Experienced engineers and financial experts from major industry exchanges and global IT giants like IBM, Intel, and HP make up the majority of the development team.