OpenOcean is a platform for blockchain assets, including cryptocurrencies, that has been providing transparent trading solutions since 2017. With an eye on decentralization and the future of finance, OpenOcean today announced its partnership with CeFi to provide traders access to their aggregated orders through DeFi full exchanges.
8th December 2021, Road Town, British Virgin Islands
The successful aggregation of Arbitrum as well as its top decentralized exchanges — UniSwap v3, Balancer v2, SushiSwap, Curve, DODO, Synapse, and Swapr – has been announced by OpenOcean, the world’s premier DeFi & CeFi complete aggregation protocol. It will allow OpenOcean customers to trade several Ethereum Layer-2 constructions for the best possible profits.
“On the one side, we know our customers trade on Ethereum, and they’ve been asking us to aggregate additional Layer-2 solutions so they can access cost-effective and quick trading while remaining in the Ethereum ecosystem.” However, we are aware that some of our consumers have been cautious or outright unwilling to trade on Ethereum owing to the high cost. “We mash two potatoes with one fork with the Arbitrum aggregation, and our users may exchange across the trading world with one-stop trading on OpenOcean,” Cindy Wu, co-founder of OpenOcean, stated.
Arbitrum, a Layer-2 scaling solution built on top of Ethereum, has lately attracted the attention of major players, resulting in a significant rise in total value locked (TVL). The network is built using optimistic rollup technology, which processes Layer-2 transactions and sends data to Layer-1. Except for the transaction fee, which is much cheaper than Ethereum, its DeFi experience is identical to Layer-1.
“We’re ecstatic to welcome Open Ocean to the Arbitrum ecosystem.” Arbitrum’s cheap cost and rapid confirmation make low-slippage aggregated DEX trading a great use case, giving a good experience for DEX traders.” Steven Goldfeder, the founder and CEO of Offchain Labs.
OpenOcean is a key component of Web3, allowing users to get the most out of their decentralized assets across various networks without paying extra fees. The aggregation of Layer-2 structures allows users to lower the fees they spend on Ethereum as a result of network congestion.
Arbitrum has become the indisputable Layer-2 leader, with a 40%+ market share of the Layer-2 TVL, because to its outstanding technology, personnel, and timely debut. It also has the greatest volume and number of users among Ethereum’s Layer-2 structures.
Arbitrum is a “Optimistic Rollup” scaling mechanism for Ethereum developed by Offchain Labs. It expands applications instantaneously, lowering costs and expanding capacity without jeopardizing Ethereum’s security. Arbitrum is completely compatible with most current Ethereum developer tools, thus there are no code modifications or downloads required to port contracts to Arbitrum. Arbitrum has launched Arbitrum One on the Ethereum mainnet, and the team is already working with hundreds of applications on the platform.
Visit https://offchainlabs.com/ for more details.
OpenOcean is the world’s first comprehensive aggregator for DeFi and CeFi. With no extra costs, OpenOcean’s clever routing algorithm finds the best price and lowest slippage for traders across controlled and decentralized exchanges. It has gathered key DEXes across public chains, including Ethereum and Layer 2, Binance Smart Chain, Avalanche, Polygon, Solana, Fantom, HECO, TRON, Ontology, and a CEX, as a one-stop trading gateway (Binance). OpenOcean will keep supporting cross-chain swaps through bridges and cross-chain protocols, as well as aggregating additional DeFi and CeFi devices and launching intelligent management services.
Visit https://blog.openocean.finance/ for additional details.
Keep an eye on the website, Twitter, and Telegram for updates.
- Cindy Wu
- [email protected]