OpenOcean aggregates Arbitrum to expand its one-stop trading solution
OpenOcean aggregates Arbitrum to offer users maximum returns on multiple Ethereum layer 2 constructions
OpenOcean is an integral part of Web3, offering users maximum returns on digital assets across multiple networks without charging additional fees. However, as networks develop, some chains have struggled with network traffic and fee hikes. Today, we are excited to announce the expansion to Arbitrum, along with the leading decentralized exchanges — UniSwap v3, Balancer v2, SushiSwap, Curve, DODO, Synapse, and Swapr.
“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.”
Cindy Wu, Co-founder of OpenOcean
Scaling on Ethereum has been long-awaited to offload the high transaction volumes. To meet these challenges, several attempts of layer 2 scalings, including Arbitrum, have entered the market and recently gained serious commitment from large players and a rapid increase in total value locked (TVL).
This is good news for users who are not interested in moving to other high-performance chains such as Solana and prefer to stay within the Ethereum ecosystem and find scaling solutions. The layer 2 DeFi experience on Arbitrum is the same as layer 1 with one huge difference: the cost. It’s just so much cheaper.
Why Arbitrum
Arbitrum is an optimistic rollup, a layer 2 construction that does not run on Ethereum’s base layer but on top of it. It aims to feel exactly like you are interacting with Ethereum, but with transactions costing a fraction of what they do on layer 1, reducing fees by significantly for most workloads.
“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.”
Steven Goldfeder, CEO and co-Founder of Arbitrum
Due to its timely launch and solid technology, Arbitrum attracted the attention of the Ethereum ecosystem at an early stage and is currently the unchallenged layer 2 leader with almost a 40% market share of the layer 2 TVL, the most volume, and most users.
Bridging assets to Arbitrum
First, make sure you have a wallet that supports Arbitrum — we recommend MetaMask. Alternatively, head over to the Arbitrum One Portal to see which wallets support Arbitrum and make sure OpenOcean also supports them.
Next, add the Arbitrum One network to your wallet and start bridging assets using Arbitrum Bridge. You can refer to this tutorial from the Arbitrum team. ETH is the native token for Arbitrum, so to transact, you will need to bridge over some ETH. There are other bridges supporting cross-chain assets transfer to Arbitrum, such as cBridge, AnySwap, Synapse Bridge, and Hop protocol. Once the transfer is completed, head over to https://openocean.finance/, connect your wallet, select Arbitrum network, and happy trading!
To learn more about how to use OpenOcean on Arbitrum, you can view a detailed guideline here.
Head over on OpenOcean.finance and try it now!
About OpenOcean
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, we have aggregated major DEXes across public chains, including Ethereum and Layer 2, Arbitrum, Binance Smart Chain, Avalanche, Fantom, Polygon, Solana, 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.
