Unique Features of OpenOcean
The market trend of cryptocurrency reveals that the Defi ecosystems keep expanding to multiple blockchains. It seems that Ethereum-based projects dominated the market in the past few years has changed to multiple chains coexistence nowadays. That is, more and more Defi projects launched on Binance Smart Chain, Fantom, Polygon, Heco, Avalanche, Solana network and so on. Inevitably, a proportion of crypto holders are likely to have multi-chain assets in their wallets, which lead to the demand of cross-chain token transfer and token transactions among various blockchain networks.
OpenOcean is one of the most thriving projects especially suitable for multi-chain token holders who are looking for a quick solution of token transfer in one single platform. It is a real DEX and CEX aggregator supporting multiple public chains. In other words, OpenOcean helps crypto traders to find the best price across different exchanges, so people could save time and money for trading.
Why use OpenOcean? The following paragraphs interpret the unique features of OpenOcean that might be of your interest.
◆ Both Pro version and Classic version available. Unlike most decentralized exchanges only provide one version ready for token transactions, OpenOcean offers two versions known as Pro and Classic. If the users prefer simple and clear interface, Class version is ideal for trading. On the other hand, if the users would like extra information, Pro version shows more detailed data including price lists of selected trading pairs among different exchanges. Moreover, price lists on DEXs and CEXs are revealed on Pro version.
◆ Light and Dark Mode. The background of OpenOcean site could be adjusted to either light or dark mode based on the user’s preference.
◆ Multi-chain supported. Currently seven blockchain networks including Etherum (and Layer 2), BSC, Ontology, TRON, Solana, Polygon and HECO are supported by OpenOcean, and the number of supported chains still keeps growing.
◆ Cross-chain bridges introduced. In the Defi world, moving one type of assets to another one usually relies on cross-chain bridges. OpenOcean does not have its own bridges, but for convenient purpose, it introduces three cross-chain bridges including Binance Bridge, Matic Bridge and Poly Bridge ready for use.
◆ Both DEX and CEX function available. As the official OpenOcean website indicates that OpenOcean acts as a Defi and Cefi full aggregation protocol, both price lists from major DEXs and CEXs (Binance) are taken into account. As a result, crypto traders are able to determine whether to trade with DEX or CEX.
◆ Transaction history provided. The Pro version of OpenOcean automatically shows the user’s token transaction history via OpenOcean. It gives end users a quick view on how they interacted with OpenOcean before.
◆ Save favorite trading pairs. This feature is only available on Classic version on desktop.
◆ Farms and Pools. Yield farming has become a popular method adopted by various Defi projects since last year. The advantage of yield farming is that it could attract investors staking their assets on the platform for earning rewards, which helps to reduce token selling pressure and possibly increase the TVL (total volume locked). OpenOcean just launched its native token $OOE in July 2021. It currently provides OOE-BNB LP and OOE-BUSD LP farms on Binance Smart Chain since token launched, which is worth consideration for farmers. Single token staking might be available in the near future, and we are all waiting for team announcement.
Note that there were $OOE airdrops for early users. Users who received airdrops might have more motivation to stake their tokens on the farm.
◆ A range of crypto wallets supported. For EVM-compatible blockchains like BSC, Polygon, Fantom, Avalanche, Heco etc., the access to OpenOcean is easily done via connecting with Metamask, which is the most popular and widely used crypto wallet to many Defi traders. Besides this, when it comes to trading BEP20 assets on OpenOcean, other wallets like SafePal and Onto wallet are also good for use.
Generally speaking, OpenOcean is a DEX and CEX aggregator but more focuses on DEX currently. Crypto traders can benefit from this dapp since OpenOcean searches for the best price among the major DEXs with lower slippage for end users. Therefore, crypto traders do not need to visit every AMM DEX for price comparison. As the future of blockchain and Defi market will be full of multiple assets and multiple public chains, OpenOcean integrates a variety of functions including token swap on various chains, cross-chain bridges, yield farming, clear interface and so on. To make the crypt transaction easy, efficient, time and money saving, OpenOcean is the right dapp worthy for use. To know more about OpenOcean, please refer to the official Medium page for detailed information.
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