OpenOcean’s 2023 Recap: Soars to New Heights!
2024 is lining up to be huge for OpenOcean, from the depths of the bear market to the highs of the upcoming Bull, OpenOcean has been consistently delivering important upgrades to every facet of the platform to consolidate as a one-stop DeFi aggregator catering web3 users.
2023 was probably the biggest year for OpenOcean so far. Here are a few highlights of the year worth mentioning.
- OpenOcean expanded onto 17+ more chains, boosting our reach to 35 chains including all major Layer2s along with 1,000+ unique liquidity sources, pushing OO forward as the widest reaching DEX aggregator.
- 70+ protocols, including notable ones, such as MetaMask, Lido, DeFiLlama, integrated OpenOcean API for their swap services, cementing OpenOcean as one of the best performing infra providers in web3.
- Established LSD aggregator to empower LST’s and maximise returns for traders.
- With significant recognition by the L2 ecosystems, OpenOcean was successful in receiving grants from them, such as Manta, the 500k $ARB STIP grant on Arbitrum as well as the RetroPGF $OP grant on Optimism.
- Even though 2023 has been a crypto winter year, OpenOcean has not stood still and even has experienced impressive growth, with a remarkable increase of 178% in trading volume, 891% in transactions, and 315% in wallet addresses.
Key updates of OpenOcean products
In 2023, through continuous product development and revamps to the platform, OpenOcean is now positioned as a DeFi aggregator as well as a prime web3 swap infra provider, let’s take a closer look-
OpenOcean has become the widest reaching DEX aggregator supporting 35 different chains with over 1000+ unique LP’s, covering multiple L1 and L2 networks,
L2s: zkSync, Base, Manta, Starknet, Linea, Polygon zkEVM, opBNB, Scroll, Mantle.
L1s: NEAR, Metis, Celo, Kava, Telos, etc.
We’re also the first DEX aggregator on multiple ZK-rollups as well as supporting all the new major L2’s like Manta, Scroll and Linea, reception has been great with climbing volumes across the new networks.
To better serve traders in cross-chain swaps, we integrated 3 additional bridges — Squid, Symbiosis, and Stargate to give users’ as smooth and efficient cross-chain experience possible. Our limit order feature has also been upgraded to limit order PLUS to provide traders a streamlined UI for a ‘CEX-like experience’.
To align with the Ethereum upgrade, we have explored the liquid staking market and launched a popular LST/LSD aggregator. It allows the tracking of mainstream LSTs such as stETH/wstETH, rETH, ankrETH, etc., as well as provide a clear and constructive solution for maximising yield.
Beyond trading, we rolled out the OpenOcean infohub — A simple, ‘one stop shop’ for all your news from leading publications like TheBlock, CoinTelegraph and Coindesk all under one roof.
Looking elsewhere than DeFi, OpenOcean also has made progress entering the NFT space. We have put the finishing touches on our long-awaited NFT aggregator. Currently the product is still undergoing further testing but currently, it’s working, and ready to be deployed.
In 2023, OpenOcean offered highly curated API services to more than 70 DeFi protocols/developers in web3, positioned as a prominent swap middleware/infra provider in DeFi space. Showcase some notable user cases as below:
Wallets- MetaMask, Rabby Wallet, CVL Wallet, Krystal Wallet3, Block Wallet
Cross-chain protocols- Li.Fi, Axelar, Symbiosis, Rubic, RocketX, XY finance
Yield Protocols- Beefy Finance
Information platforms- DeFiLlama, DEXtools
Dex/Swaps- CoW, Shido, Thena, Lido, Velocimeter, Camelot, Sonne, Buffer
OpenOcean Community
Our online communities, including Twitter, CMC, and Discord, are experiencing remarkable expansion with an impressive growth rate of 32.5% for Twitter followers and 26.5% for Discord members, and has reached 37k on CMC. We also love Twitter spaces and find them a great means of communication and as such have attended over 20 AMA’s, roundtables and discussions with good outreach — such as BlockTalks Ep 10 with 35.7k live listeners, BNB DeFi Chain Panel with 1.5k live listeners and Fantom x Axelar Twitter Panel — 1.3k live listeners.
Our teams have been traveling all over the world in 2023 and attended multiple conferences. The aim of which was to network, attract new community members and create partnerships with platforms, these have often been a great way to expand our reach. We’re looking forward to what 2024 has in store!
Looking to the future
With 2023 drawn to a close focus now shifts to 2024 and what OpenOcean can bring to the market, we will continue to expand our offerings as a DeFi aggregator in Web3 to benefit all DeFi users.There are just so many exciting things to come, expect better efficiency, faster services and the best OpenOcean experience yet!
We’ve got many more exciting things to come in 2024, especially in Q1…
$OOE token: We will soon launch on Arbitrum, and continue to expand to more chains. And of course we’ll be making sure utilities for our $OOE token continue to grow and thrive.
Solana launch: OpenOcean will soon deploy significant resources on Solana, taking more significant steps to improve our offering to the Solana ecosystem. We will integrate deepest liquidity sources such as Jupiter, Meteroa, Orca and Raydium indexed for the best efficiency… also expect to see a familiar token on Solana sOOEn!
Cross-chain swaps: OpenOcean supports cross-chain swaps on over 8 different networks and will look to continue expanding this further in the future. Recently, Chainlink and their CCIP process have been scrutinized and on boarded as the newest addition to OpenOcean’s powerhouse bridging tools.
OpenOcean V3.1: Several new upgrades are in the works that directly affect the operation and efficiency of the OpenOcean platform. With improvements in quoting and smart-routing rolling out shortly, we can further elevate OO’s prime position in the market. Faster calls, faster quoting will ultimately make for a better experience whether you’re using the front or the backend API.
Portfolio Management: Aspiring to be a leading DeFi aggregator in the web3 space, we’ve built a full portfolio management system that will go live soon. It’s a simple overview for all your on-chain wallets to dive into the portfolio highlights and the ability to instantly trade any token without leaving the platform.
Following Q1, OpenOcean will continue exploring and expanding further into the Web 3 field and will dedicate focus towards more unique ecosystems further into 2024. Following the growing trend in the market for intent based platform solutions OpenOcean will also be part of this interesting landscape to offer users the best swap rates possible.
Well, it’s going to be an exciting year with many many new updates to come! Let’s wait and see! 🚀
