[PRESS RELEASE – Road Town, British Virgin Islands, 8th December 2021]
OpenOcean, the world’s leading DeFi & CeFi full aggregation protocol, is delighted to announce the successful aggregation of Arbitrum as well as its leading decentralized exchanges – UniSwap v3, Balancer v2, SushiSwap, Curve, DODO, Synapse, and Swapr. It will enable OpenOcean users to trade with maximum returns on multiple Ethereum Layer-2 constructions.
“On the one hand, we know our users are trading on Ethereum and have been requesting us to aggregate more Layer-2 solutions to access cost-efficient and fast trading while still being in the Ethereum ecosystem. On the other hand, we also know that some of our users have been hesitant or directly reluctant to trade on Ethereum due to the cost. With the Arbitrum aggregation, we mash two potatoes with one fork and our users can swap around the trading universe with one-stop trading on OpenOcean” said Cindy Wu, Co-founder of OpenOcean.
Arbitrum, a Layer-2 scaling solution on top of Ethereum, has recently gained serious commitment from large players and a rapid increase in total value locked (TVL). The network is developed with optimistic rollup technology that executes transactions on Layer-2 and submits the data to Layer-1. Its DeFi experience is the same as Layer-1 except for the transaction cost, which is dramatically lower than Ethereum.
“We are thrilled to have Open Ocean joining the Arbitrum ecosystem. Low-slippage aggregated DEX trading is a phenomenal use cases of Arbitrum’s low cost and instant confirmation, providing an excellent experience for DEX traders.” from Steven Goldfeder, CEO of Offchain Labs.
OpenOcean is an integral part of Web3, offering users maximum returns on decentralized assets across multiple networks without charging additional fees. The aggregation of Layer-2 constructions gives the option to further reduce the fees users end up paying on Ethereum due to network congestion.
Due to its stellar technology, team, and timely launch, Arbitrum has become the undisputed Layer-2 leader with a 40%+ market share of the Layer-2 TVL. It also boasts the most volume and the highest number of users among Ethereum’s Layer-2 constructions.
Developed by Offchain Labs, Arbitrum is an “Optimistic Rollup” scaling solution for Ethereum. It instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with most existing Ethereum developer tooling. Arbitrum has launched Arbitrum One on Ethereum mainnet and the team is already working with hundreds of projects that are building on Arbitrum One.
OpenOcean is the world’s first DeFi and CeFi full aggregator. OpenOcean’s intelligent routing algorithm finds the best price and low slippage for traders across centralized and decentralized exchanges with no additional fees. As a one-stop trading entrance, it has aggregated major DEXes across public chains, including Ethereum and Layer 2, Binance Smart Chain, Avalanche, Polygon, Solana, Fantom, HECO, TRON, Ontology, and a CEX (Binance). OpenOcean will continue to support cross-chain swaps via bridges and cross-chain protocols, aggregate more DeFi and CeFi products, and launch intelligent management services.