OpenOcean Community Article Contest Winner #3: Crypto-Trader’s all in one Ocean
Written by @crypto_ares007 (Twitter & Medium handle)
As the name resembles OpenOcean is a ‘Open Ocean’ for all crypto-traders to surf the crypto waves in both DEXs and CEXs! Yes, you can trade crypto assets that listed on both DEXs and CEXs from a single platform!! That sounds interesting, right?
Okay, let’s take a small dive!
What is OpenOcean ?
“ OpenOcean is the World’s first full aggregation protocol for crypto-trading that source liquidity from DeFi and CeFi, and enable cross-chain swaps ”
OpenOcean enables efficient trading opportunities and cross-chain swaps by source of liquidity from DeFi and CeFi. OpenOcean’s Intelligent routing algorithm provide the best price with low slippage and fast settlement!
Not only swapping aggregation, OpenOcean will bring, derivatives, yield, lending and insurance products, and launch it’s own combined margin products and intelligent wealth management service.
How deep is the OpenOcean ?
“ OpenOcean is a aggregation of different gigantic Oceans ”
Oh quite poetic, right?
As like in the quote OpenOcean is a deep ocean for crypto-trading which aggregates major DEXs and CEXs and across Ethereum, Polygon, Loopring (ETH layer 2), Binance Smart Chain, Solana, Heco, Ontology, TRON etc. OpenOcean is the first full aggregator on BSC, Ethereum layer 2, TRON. Also OpenOcean waves will also reach the shoreline of World’s number 1 exchange Binance! Yes, you can trade on Binance using OpenOcean! It’s cool, right? The OpenOcean waves will reach so many shores, isolated islands etc based on the pressure formed on the deep ocean due to the hardcore ocean sailors! Yes, the OpenOcean community! The OpenOcean will continue to aggregate Public chains and CEXs based on the community voice. That means…more to come!
How OpenOcean benefits trading ?
OpenOcean provide a deep liquidity because it’s source is from the DEXs and CEXs. Also they have an Intelligent routing algorithm. So, they can provide best price from the DEXs and CEXs with low slippage and fast settlement.
You can Swap!!
That means you can Swap the assets with the best price and lowest slippage possible on the market without any liquidity issues! Also traders can choose specific DEX to swap assets. That is OpenOcean provide options to choose the DEXs as per trader preference. Is that cool..?
You can Arbitrage…!!
Traders can also take advantages of Arbitrage opportunities between DEXes and CEXes. There is always a arbitrage opportunities between DEXes and CEXes. Because most of the DEXes apply AMM mechanisms and their price feedings are rely on DATA oracles. So there is always price difference between DEXes as well as between DEXes and CEXes. OpenOcean provides a single platform for all these functions. All traders with accounts on both Wallets and CEXes can utilise such arbitrage opportunities with the help of OpenOcean.
Brilliant, right? It’s amazing to see such all in one platform with more functionalities.
It’s FREE to Use!!
What if all these functions could be used for FREE!? Yes, OpenOcean doesn’t charge any fees from the traders for these operations! Traders only need to provide normal blockchain fees and Exchange fees ( fees on CEXs not by OpenOcean). It’s really worth it IMO!
Let’s Conclude,
Full aggregator for crypto-trading will increase the capital efficiency. Also serves as a connection bridge to the scattered isolated islands in the current Centralized and Decentralized Finance. It Doesn’t matter that you are a whale or shrimp, in OpenOcean everyone should have an opportunity to trade according to their trading strategies at best price . Even Dwarf Pygmy Goby (smallest fish in the Ocean) will get the quality food at fair price..!!
OpenOcean will be the new paradise for crypto-traders…!!
#OpenOcean, #OOE, #FullAggregator, #DeFi #CeFi, #DEXAggregator, #crypto
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This article is part of a rewarded contest.
The original article was published here: https://medium.com/@cryptoares007
