With the continuous development of cryptocurrency technology, the forms of cryptocurrency platforms have become more and more diversified. From the earliest CEX to the DEX that began to explode under the promotion of DeFi last year, tremendous development has been achieved.
Although DEX has achieved tremendous development, there is still much room for improvement in the development of infrastructure. For example, the exchange experience will be limited by the performance of the public chain, and each public chain is an island of information for their own development. When the problems of public chain performance and cross-chain are not fundamentally solved, the aggregation agreement appears.
Aggregation protocols can aggregate different DEXs to provide users with better prices. However, aggregation protocols are often limited to a certain public chain platform and cannot meet the needs of users for the exchange and cross-chain of different public chain platforms.
With the blossoming of various public chain DEX ecology, multi-chain aggregation platforms have emerged and become a hot spot on the DeFi track. For example, OpenOcean, an aggregating platform that has received widespread market attention, has risen by 700% within a month as soon as the platform token OOE went online.
What kind of confidence does OpenOcean have? Let’s take a closer look.
OpenOcean with capital competing to enter the game
OpenOcean is the world’s first fully-aggregated protocol that connects DeFi and CeFi. Through the application of deeply optimized intelligent routing algorithms, it finds the best price and low slippage for users on the aggregated DeFi and CeFi, and does not charge protocol fees.
OpenOcean continues to expand in the direction of aggregation. After Ethereum, Layer2, BinanceSmartChain, TRON, and Ontology, it has aggregated 9 major public chains, Polygon , Avalanche, Solana, HECO, and OKExChain, and more than 40 mainstream DEXs on these public chains. .
The project roadmap shows that the team will continue to aggregate more mainstream public chains and expand to the full aggregation of revenue, lending and insurance products, and launch combined margin products and intelligent wealth management.
The emergence of OpenOcean solves problems such as the asymmetry of exchange price information. Basically one-stop service solves the user’s exchange pain points, has been recognized by the market, and has also won the favor of a lot of capital. It has been supported by many investment institutions. .
Ance Binance, Multicoin Capital 、 CMS Holdings 、 Kenetic 、 Altonomy 、 Huobi Global 、 OKEx 、 LD Capital 等。
OpenOcean leads the converged DeFi track
1. Compared with 1inch and Matcha, OpenOcean better solves the pain points of users’ multi-chain exchange
a. The best price exchange service supports the most public chains and meets the market demand of the multi-chain DeFi ecosystem.
1inch and matcha are both DEX aggregation platforms, and currently only support the three public chains of Ethereum, Binance and Polygon. In addition to supporting these three public chains, OpenOcean also supports Avalanche, Solana, TRON, ONT, HECO, OKExChain and other public chains.
In the future, it will also support the Fantom, XDAI and other public chains voted by the community, as well as ETH Layer2’s Arbitrum . OpenOcean supports far more public chains than 1inch and Matcha. It will meet users’ exchange requirements for different chains to the greatest extent. Provide users with a one-stop exchange service entrance.
OpenOcean basically supports all mainstream public chains and even some non-mainstream public chains in the current market to the greatest extent. Compared with other aggregation protocols, OpenOcean has the largest number of DEX aggregates.
E.g. Ethernet Square Uniswap on and Sushiswap, PancakeSwap on an intelligent token chain (BSC) chain, MDEX and the like on the BakerySwap Biswap HECO chain and a plurality of 40 DEX, OpenOcean are supported.
When a user exchanges in OpenOcean, OpenOcean automatically compares prices between these DEXs through an intelligent path optimization algorithm to help users find the best price and complete the exchange.
When we performed BNB/BUSD transactions on both OpenOcean and 1inch platforms, we found that OpenOcean users finally got more BUSD. This is mainly because OpenOcean optimizes the exchange path split to give users a better price.
OpenOcean is committed to providing users with the richest possible exchange of digital assets. Compared with aggregation protocols such as 1inch and Matcha, OpenOcean aggregates the most public chains, the most DEX, and the liquidity of mainstream CEX, and it also supports ETH Layer2 Solution. OpenOcean is currently the most comprehensive aggregation protocol for convertible digital assets on the market.
b. OpenOcean is free of protocol fees
In addition, for many aggregation protocols, users need to pay a certain fee in addition to a certain GAS fee when performing exchange. For example, if the user chooses 2% slippage at 1inch, if the actual transaction slippage is lower than 2%, 1inch will charge the slippage difference, which will undoubtedly increase the user’s exchange cost.
However, the OpenOcean team made it clear that it does not charge any protocol fees to users. Compared with other aggregation protocols, OpenOcean further reduces users’ exchange costs.
2. Realize arbitrage between CeFi and DeFi through OpenOcean
As we all know, CEX adopts an order matching model. The platform matches the pending orders of buyers and sellers. DEX mainly adopts the AMM model. The exchange price is determined by the fund pool. There is often a certain spread between CEX and DEX. Arbitrage space.
For users, if they want to achieve the greatest arbitrage space, they often need to compare prices and exchange between several platforms, which is very inefficient, but one-stop exchange can be completed through OpenOcean.
OpenOcean calculates the price difference between DeFi and CeFi through a certain algorithm, and displays the price difference K-line at a minimum time interval of 5 minutes. In addition, OpenOcean already supports CEX exchange, so OpenOcean is used to complete the difference between DeFi and CeFi Arbitrage between is very convenient.
The roadmap revealed that the team is developing automated arbitrage tools to automatically capture arbitrage opportunities for users to carry out convenient arbitrage operations. If the product can be successfully launched, it will become the first user-oriented arbitrage solution in the industry. At present, the OpenOcean team has completed the planning and development of the roadmap on schedule.
The OpenOcean V2 version was launched, and the blueprint for the future has been revealed
OpenOcean has been running smoothly for a period of time, and has also passed the inspections of users and the market. When the OpenOcean V2 version is about to go online, we have been able to initially see the blueprint for the future drawn by it:
1. OpenOcean V2 will be launched soon
The OpenOceanV2 version will be launched soon, which will provide an optimized smart path, which has a better price and lower slippage than the previous v1 version. Compared to 1inch, users can redeem for a better price.
At the same time, OpenOcean will integrate Chainlink Keepers on its V2 version. In the future, the stop-profit and stop-loss function will be introduced to improve the efficiency of users’ exchange. This function will also be the first innovative application on DeFi.
2. Cross-chain aggregation function
On the basis of the multi-chain ecological explosion, cross-chain has become a rigid demand of users. The OpenOcean team demonstrated the cross-chain best price exchange demo it is developing in the DeFi Summit to assist users to freely choose and execute cross-chain and exchange.
At present, the Bridge provided by mainstream cross-chain protocols generally implements cross-chain through protocol mapping. Therefore, the types of assets and public chains supported by a single Bridge are relatively limited.
OpenOcean provides users with unified, convenient and efficient cross-chain and asset exchange services by aggregating mainstream cross-chain protocols. With its unique cross-chain optimization algorithm, OpenOcean helps users find the optimal cross-chain path to reduce user cross-chain costs. , To enhance the user’s cross-chain experience.
Cross-chain protocol aggregation + the best price exchange on the OpenOcean platform is the industry’s solution that is closest to the ideal cross-chain exchange scenario under the existing cross-chain infrastructure.
3. OpenOcean is the first aggregation protocol on multiple public chains that have cooperated
In addition to working hard in the technical aspect, OpenOcean is committed to providing users with the best aggregation protocol. It also has strong market sensitivity and has extensive cooperation with many outstanding projects in the cryptocurrency ecosystem.
At present, it has cooperated with many other mainstream public chains. OpenOcean recently aggregated the three public chain ecology of Solana, Avalanche, and OKExChain, and it is also the first aggregation protocol in these three public chain ecology.
According to reports, OpenOcean has completed the aggregation of OKExChain on August 26, becoming the first aggregation protocol on the OKExChain chain.
At present, users can redeem mainstream digital assets on the OKExChain chain in OpenOcean. Since OpenOcean has aggregated the mainstream DEX on the OKExChain chain, users can exchange assets on the OKExChain chain through OpenOcean to obtain the best price and low slippage.
On August 30, OpenOcean has completed the aggregation of Avalanche, and the DEX supporting the ecosystem includes Pangolin, Trader Joe, SushiSwap, Lydia.Finance, Baguette and their mainstream trading pairs.
4. OpenOcean will aggregate loan and insurance products, etc.
With the continuous development of blockchain technology, the demand for DeFi has become increasingly strong, and DeFi products have gradually matured. The aggregation protocol will bring greater value to users by improving efficiency and increasing revenue. This will also be the future of the OpenOcean platform. Another strong barrier to competition with peers.
Most of the aggregation exchange platforms (such as Matcha) mainly focus on aggregation exchange. In the future, OpenOcean will not only aggregate DEX and CEX, but also aggregate income, loan and insurance products, and will launch combined margin products and robo-advisory services. .
OpenOcean will not only become a one-stop aggregation platform, but also a one-stop DeFi wealth management platform. Users can not only redeem in OpenOcean, get better prices and lower slippage, but also can aggregate DeFi products and offers in OpenOcean Get lower rates, higher yields, etc. in the services.
The OpenOcean team has a background
of elites in the traditional financial industry, which is more conducive to the development of DeFi in the future
Most of the core members of the OpenOcean team come from elites in the traditional financial industry. They have served as management in the core business teams of top-renowned traditional financial institutions, banks, and technology giants such as IBM and Hewlett-Packard, and have rich experience in the financial industry.
Although decentralized financial DeFi has achieved explosive growth, in the world of blockchain, imperfect infrastructure has led to market opacity and information asymmetry. It is inefficient for users to exchange between different platforms and it is difficult to maximize profits. .
In order to solve the exposed industry problems, the OpenOcean team hopes to solve the pain points of the industry and users through the experience accumulated in the financial field and the blockchain field.
With the outbreak of DeFi and the evolution of traditional finance, the professional financial background of the core members of the OpenOcean team will be more conducive to the future deployment and development of aggregation protocols in DeFi.
In short, as a full aggregation protocol, OpenOcean will aggregate the most public chains and the most tokens, and it will achieve the integration of DEX + CEX. When users exchange on this platform, they will automatically exchange at the best price, plus fluent experience, either through evidence of richness or exchange experience, OpenOcean CEX will be the closest of DEX aggregation protocol .
In addition to the aggregation exchange function, OpenOcean will also aggregate financial products such as decentralized income, lending and insurance in the future. OpenOcean will become a “one-stop aggregation + DeFi intelligent investment advisory” platform.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/how-does-openocean-create-an-aggregated-layout-with-ingenuity/
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