[PRESS RELEASE – Road Town, BVI, 19th October 2021]
OpenOcean positions itself as the go-to place for best-priced cross-chain swaps. Its combination of margin pools for greater capital efficiency and intelligent wealth management services have attracted institutional interest. There is a vast ocean of liquidity in the cryptocurrency world, and OpenOcean makes it possible for anyone to dive right in.
The launch of OpenOcean V2, dubbed OpenOcean Atlantic, introduces a lot of new features. OpenOcean Atlantic runs across aggregated networks, including Binance Smart Chain, Avalanche, Polygon, Solana, and Fantom. There is also support for OKExChain, Tron, Ontology, and Heco. Later on, we will support Ethereum. Users will benefit from maximized returns outperforming any other DEX aggregator on the market. More importantly, all of these benefits are accessible free of charge.
OpenOcean Atlantic implements a superior algorithm and protocol upgrade set to trade for the best possible returns. The algorithm leverages multiple parameters, such as better price, lower gas fee & slippage, and optimized routing. As a result, users no longer need to worry about these aspects and potentially higher fees from exploring alternative routes. Instead, OpenOcean Atlantic will ensure you get the most out of each swap.
The OpenOcean Atlantic solution underwent rigorous testing by the team. Over 4,587 test cases on BSC were conducted to determine if the higher-than-expected returns kept up. The result is showing Atlantic is better in 60% of the cases, giving it a strong competitive edge over other leading DEX aggregators. The OpenOcean team experimented with its native solution, ParaSwap, and 1inch across multiple batches with different trade volumes across different blockchains to conduct the tests. Even when tests were conducted in parallel, OpenOcean Atlantic came out top of the class rather regularly.
Beyond the OpenOcean Atlantic upgrade, the team has also enhanced the routing algorithm, front page, and roadmap. The trading terminals will be overhauled soon and offer enhanced features. For example, a future update will bring stop-loss and limit orders to OpenOcean Atlantic, removing the need for users to wait around or certain market conditions. Another addition to look forward to in the future is grid trading for volatile assets.
Furthermore, OpenOcean continues to make continuous tweaks and improvements to its products and services. The focus lies with improving spot trading and derivative aggregations, two features that will benefit traders globally. The team also explores opportunities for margin trading to enable greater capital efficiency in this trading segment.
Launched in September 2020, OpenOcean has achieved numerous milestones since then. The technology stack has run smoothly for over a year and currently aggregates ten networks and over 50 exchanges. Moreover, there are over 350,000 active addresses on the platform. OOE, the native utility token, launched in July 2021 and is used for governance voting, trading function and services, and supplying liquidity.
OpenOcean is a one-stop full chain aggregation protocol that acts as a bridge between DeFi and CeFi. It eliminates the fragmentation that exists within the DeFi ecosystem by giving users access to the entire crypto market via a single, user-friendly interface. Users enjoy full access to aggregated liquidity and best pricing from a wide range of centralized and decentralized exchanges.