Introducing OpenOcean Finance
With the popularity of DeFi, the trading volume of decentralized exchanges (DEX) has risen rapidly, and therefore, DEX aggregate trading platforms have been playing a bigger role. According to Messari data, in the last August, DEX accounted for more than 5% of the total CEX transaction volume. Among them, 20% of the DEX transaction volume on the Ethereum network came from the DEX aggregation platform.
Recently, OpenOcean, the decentralized financial services development team released a new generation of products based on the intelligent full aggregation protocol: openocean.finance. Compared with its counterparts, OpenOcean has taken a series of innovative measures:
1、 Deeply optimized intelligent routing algorithm
OpenOcean aggregation platform applies a deeply optimized intelligent routing algorithm and a transparent price mechanism; when an order is placed on the platform, the user will get lower slippage, less gas consumption and better prices than other platforms.
OpenOcean search engine analyzes dozens of DEX trading platforms, uses an improved D-Star algorithm to solve the initial optimal path, and adjusts and optimizes the path in real time during the subsequent trading process.
2、 Token Economic Subsidies
OpenOcean makes up for the impermanent losses of customers by trading mining token incentives and “slippage subsidies”.
If the user’s exchange value is higher than the expected value, OpenOcean will not capture the surplus, the user will be fully refunded with the exchange value when submitting the exchange application.
If the user’s exchange value is lower than the expected value, OpenOcean will subsidize the user with its platform token so as to minimize the user’s loss.
3、 Asset evaluation system ODES
In response to the proliferation of token fraud on the DEX trading platform, OpenOcean tracks and analyzes DeFi trading assets, and has established a new asset evaluation system ODES (OpenOcean Defi Evaluation System) based on ecological big data. The system evaluates each token in terms of risk exposure, and only tokens with lower risk are provided for exchange.
4、Ultimate interactive experience
OpenOcean has been focusing continuously on improving user interactive experience. Its minimalist design and user-friendly interface enable even newcomers to complete transactions efficiently.
5、 Aggregate more DEXes
The roadmap shows that in addition to integrating more DEX platforms on ETH, OpenOcean will also aggregate DEX platforms based on non-ETH public chains, such as Newdex, Switcheo, Justswap, Pancake etc., and even Polkaswap.
Given the current situation of infrastructure such as Oracles and DEX in the defi ecosystem, and the demand for transaction efficiency, a majority of transactions of financial derivatives — contracts, options and other digital assets — will still be completed on CEX platform in the short term. The fragmented exchange market makes it inconvenient for users to execute cross-market trading strategies. OpenOcean will further integrate centralized trading platforms such as Binance, Coinbase, Bitfinex, and Bitmex, and achieve one-step transactions on any CEX with OpenOcean portfolio margin pool and OpenOcean wallet.
It is OpenOcean’s vision to become the entry point for one-stop trading of all digital assets.
How to trade on the OpenOcean exhange?