OpenOcean is a full multichain aggregator (both CeFi & DeFi) that assists traders in getting the best price and lowest slippage available on both centralized and decentralized exchanges using its intelligent routing algorithm with no hidden fees.
OpenOcean currently aggregates its prices from top decentralized exchanges across public chains (Ethereum, Binance Smart Chain, TRON, Solana, Ontology, Polygon, and Huobi Eco Chain). At the moment of this writing, the decentralized exchanges it pools its liquidity from include: Uniswap, SushiSwap, Mooniswap, Balancer, Curve, Kyber, Oasis, Loopring, PancakeSwap, CafeSwap, HyperJump, BakerySwap, JulSwap, Unifi, ApeSwap, DODO, Acryptos, Smoothy, Ellipsis, MDEX, ApeSwap, Nerve, InnoSwap, JustSwap, Uswap, Dfyn, QuickSwap, Polyzap, Cometh, MakiSwap.
While for centralized exchanges, only Binance is supported at the moment, with plans to support more CEXes in the future.
How OpenOcean benefits traders
OpenOcean is dedicated to developing an ecosystem that’s beneficial to all types of traders in the current fragmented market. It empowers all individual traders and investment institutions to trade at the best prices and be able to apply their own investment strategies to various crypto asset classes.
OpenOcean offers crypto traders the best possible price with the lowest slippage. It makes use of an optimized version of the Dijkstra algorithm called D-star, which splits routing between different protocols for better rates. OpenOcean then compares the best prices on DEXs and CEXs before enabling traders to have their orders executed at the best possible rate.
The benefits of trading on OpenOcean can be summarized into:
- OpenOcean offers the best price to traders by comparing the prices on aggregated DEXes with the best price on CEXes.
- Provides traders with two Trading User Interface (Classic & Pro versions) to choose their preferred option of trading to suit both users of DEXes and CEXes.
- Ability to perform cross-chain swap transactions via Binance Bridge and send it to any chain supported on your OpenOcean account.
- Access to instant spot trading at the best possible prices with the lowest slippage possible across both DeFi and CeFi platforms.
- Making use of OpenOcean APIs to customize your personal investment strategy.
- Arbitrage between DEXes and CEXes at low costs
Comparison with other aggregators
There’s no other cryptocurrency aggregator that can be compared to OpenOcean. The ones that come close are 1Inch Exchange and Matcha which are also aggregators in the space but with low support for other blockchains networks and no support for centralized exchanges. 1Inch Exchange is currently focused on Ethereum Network and Binance Smart Chain Network for its DEX aggregation but OpenOcean supports more blockchain networks especially all mainstream public chains (which makes it multichain and interoperable between different blockchain networks).
OpenOcean will also offer full aggregation of derivatives, lending, and insurance products which will overcome Yearn Finance’s suite of products when it’s launched.
Unique features of OpenOcean
Full Aggregation: OpenOcean is a full aggregator which means that it’s an all-in-one platform that cuts across both DeFi and CeFi platforms to get and improve the best trading options for all types of crypto assets on various blockchain networks.
Full User Coverage: OpenOcean offers support to all types of users both CeFi and DeFi with the aid of having two different User Interfaces (Classic & Pro Versions) to meet user's needs. The classic interface is mostly preferred by DEX traders because it is simple and easy to use (user-friendly) which also means novice traders can easily get a hang of it. While, the Pro version (as the name implies) is mostly preferred by professional traders because it provides an API interface and customized trading interface that supports the most frequently traded token pairs and offers price charts on OpenOcean, Binance, and Spread to assist investment institutions in developing trading strategies such as quantitative arbitrage.
The Classic version supports more tokens and trading pairs than the Pro version
Interoperability: Interoperability between the different blockchain ecosystems remains a top priority for the cryptocurrency industry. With the help of renowned aggregators like OpenOcean, these processes become a lot more straightforward.
Cross-chain Support: OpenOcean makes it possible for its users to perform cross-chain swaps between the aggregated public chains via cross-chain protocols with plans to offer direct cross-chain transactions in the future.
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