OpenOcean Quarter 1 Report
Dear Investors and Supporters,
OpenOcean never stops building as the most efficient DEX aggregator and the smartest CeDeFi aggregator to benefit all kinds of crypto traders. We are really grateful for the infinite support of you all along this journey. This report will cover all of Q1 and we are thrilled to share with you the progress of OpenOcean in Q1! Here we go!
Growth in Q1
Till today, OpenOcean has now integrated 14 blockchains, including EVM and non-EVM chains, providing the most flexible and efficient swap solution. Since January, we have continually added 27 DEXes in OpenOcean, providing the deepest liquidity to ensure our users can trade low liquidity tokens without any price impact. Also, to celebrate the collaboration with incredible partners, we’ve hosted several engaging campaigns with $45,000 in rewards for our community.
Moreover, contrary to most DEXes who experienced trading volume declines from Q4 2021 to Q1 2022, OpenOcean witnessed thrilling growth in transaction volume month on month:
- Increased by 92% in January
- Increased by 9% in February
- Increased by 25% in March
As shown in the above graphs, most DEXes experienced a significant drop in the trading volume, especially between January and February. However, OpenOcean has a 9% increase in the book.
Most efficient API 3.0 and SDK to facilitate diversified needs
OpenOcean has launched an upgraded API 3.0 and SDK for individuals or projects that need non-custodial functions such as price quotes, token swaps, transfers, and trading records tracking. It’s free to use, and we have integrated the most networks of 16 with the deep liquidity for the best rates and support a fast response time of 200ms on average.
Intelligent wealth management SaaS tools — arbitrage and grid tradings
We launched our beta version of intelligent wealth management SaaS tools — Automated Arbitrage and Grid trading for testers to try out in January this year. Currently, the SaaS tools are collecting feedback from our Beta testing users to improve our product and features to make it more user-friendly. We are also working on the open-source API of automated arbitrage and grid trading on Hummingbot.
Looking forward…
As an aggregator, OpenOcean will continue to upgrade our algorithm and expand to aggregates more major networks, such as Optimism, Moonriver, Cronos, Near, and more.
Meanwhile, we are working on developing cross-chain swaps with the best price via integrated bridges across 14 blockchains using OpenOcean’s algorithm. We are also building products to support the aggregation of on-chain derivatives and act as a one-stop entrance for derivatives traders to help facilitate arbitrage trading.
OOE functionality is always part of the team’s focus and a priority. We are exploring the use of OOE as the gas fee for major networks. And shortly, we will launch an OOE gas fee rebate program.
More exciting features to share soon; keep staying with us!
Thank you for your continued support,
OpenOcean Team
