Fully Converged Protocol OpenOcean: the new star of the convergent trading track

Fully Converged Protocol OpenOcean: the new star of the convergent trading track

Loading

From keeping up with market trends to strategic layout, OpenOcean’s “cross-chain”, “integration of DEX and CEX”, “support for spot and derivative transactions” and “robotic investment advisory” are expected to lead the new trend of DeFi.

Written by: Karen

In the in-depth integration of the diversification of cryptocurrency transaction needs and the integration of entrances, the DeFi aggregator market is gradually activated.

Data from Dune Analytics shows that the transaction volume on DEX (decentralized exchange) has exceeded 110 billion U.S. dollars. At the same time, with the increase in the types of transaction agreements and the diversified investment needs of investors, transaction aggregators have also begun It has emerged in the DeFi field and has become an indispensable and important role in the DeFi ecosystem.

As we all know, DEX aggregator can find the best transaction path for users from its integrated multiple protocols, to provide users with the best price and lower slippage to the greatest extent, reduce transaction costs, and create a stop for users Style trading experience and higher transaction efficiency.

Although there are currently multiple transaction aggregators trying to integrate different DEX transaction protocols to integrate liquidity, they only support the Ethereum blockchain DEX ecology, high transaction slippage, slow transaction response speed, high handling fees, and no centralization The pain points that cannot be bypassed such as the exchange also need to be solved. The full aggregation protocol OpenOcean is trying to start from the demand and “reverse” to find the optimal solution to the problem.

How does OpenOcean create a one-stop trading portal?

Integrating DEX and CEX at the same time is a big advantage of OpenOcean compared to other aggregators. To put it simply, OpenOcean uses intelligent algorithms combined with machine learning to find a path that supports the best price and lowest slippage after comparing prices on different DEXs and CEXs, and conduct one-stop trading.

Currently, OpenOcean has been on an Ethernet Square has been integrated Uniswap, SushiSwap, Curve, Balancer, Kyber, Mooniswap and Oasis and other mainstream DEX ecology, the currency an intelligent chain (BSC) Integrated DEX include BakerySwap, BurgerSwap, PancakeSwap, StreeetSwap and Unifi , Integrated Innoswap on the ontology . OpenOcean will also aggregate more DEX protocols on the public chain in 2021, including Polkadot, Neo, and TRON.

Another highlight of OpenOcean is cross-chain . OpenOcean now supports 4 heterogeneous blockchain cross-chain protocols including Ethereum , Neo, Ontology, and Cosmos-SDK , and will gradually access Bitcoin and more heterogeneous chain protocol support in the future. OpenOcean will continue to support the cross-chain between Binance Smart Chain and Ethereum and other public chains, as well as the cross-chain of the Polkadot ecology, to help users participate in the DEX ecology on multiple public chains with one click, and trade on different public chains. Of token assets.

According to the data of The Block Research and Dune Analytics, the ratio of DEX to CEX spot trading volume was as high as 15% in October this year. This shows that OpenOcean chose to integrate CEX and explore the foresight of the balance between DEX and CEX.

In addition to the spot, in order to meet growing market demand, OpenOcean in the next year will be integrated DEX and derivatives markets on CEX, as well as the wish to avoid complex financial operations but also to ensure that customer benefits launch smart investment consulting services.

The technical level and industry experience determine the potential competitiveness and development height of a blockchain project. The core technical team of OpenOcean has more than 10 years of relevant industry experience. Previously, they have held management positions in the core business teams of well-known traditional financial trading platforms, banks, and technology giants such as IBM and HP. Team members also have experience in the development of mainstream public chain underlying technologies. With strong technical and product advantages, it is expected to provide strong support for the long-term development of the project.

From a user perspective, what are the benefits of using OpenOcean?

From the perspective of users, users can use the best price and lowest slippage in the mainstream DEX and CEX on the multiple public chains integrated by OpenOcean to perform spot crossovers on blockchains such as Ethereum, Binance Smart Chain, and Ontology. Chain and derivatives transactions, and can get a smooth trading experience. In addition, after the aggregation of CEX functions and the launch of the professional version, the liquidity that users can obtain will achieve a leap in volume.

OpenOcean’s transparent pricing and subsidy mechanism is the most concerned issue for users, and it can also promote the sustainable development of the project to a certain extent. Compared with 1inch charging slippage fees when the price is beneficial to users, the OpenOcean team claims that it does not charge any agreement fees , all transaction records and fee collection are transparent, and in the future it will use agreement tokens to subsidize the slippage in the transaction process in real time Loss, and further guarantee the interests of users. The product supports more than a dozen mainstream wallets including Metamask, TrustWallet, Ledger, etc., which provides greater convenience for users to participate.

In addition, for institutional customers, OpenOcean supports tailor-made trading strategies in a custom user interface, and also provides professional traders with a wealth of trading tools, including limit orders, stop-profit and stop-loss settings, monitoring reminders and other functions.

Thanks to the advantages of products and services, OpenOcean has added more than 6,000 users in the past week .

summary

At this stage, the DeFi aggregate trading market and the entire digital asset trading ecosystem are in the early stages of development and have not yet been finalized. From closely following market trends to strategic layout, creating a comprehensive trading experience, OpenOcean’s “cross-chain”, “integration of DEX and CEX”, “support for spot and derivative transactions”, and “robot advisory” and other features or functions will become Its competitiveness has become a rising star in the aggregator track.

According to the project roadmap, OpenOcean plans to release a professional version in the first quarter of next year, as well as launch the protocol governance token OOE and simultaneously release the token incentive plan.

Fully Converged Protocol OpenOcean: the new star of the convergent trading trackSource: OpenOcean

Reference article: https://openoceanglobal.medium.com/