OpenOcean

What is OpenOcean?

OpenOcean stands as the foremost DEX aggregator and cross-chain swap aggregator, delivering unparalleled swap returns via smart routing on multiple blockchain networks. As a middleware developer, OpenOcean provides innovative solutions for both Dapps and traders.

Leveraging its proprietary intelligent algorithm, OpenOcean efficiently divides swap routes across diverse liquidity pools to ensure optimal swap returns, factoring in price, slippage, and costs. OpenOcean's cross-chain swap solutions are designed to offer the most favorable rates for cross-chain transactions, seamlessly integrating with major blockchain bridges. Beyond its swap services, OpenOcean extends its offerings to include derivative trading, achieved by seamlessly integrating decentralized order-book derivative exchanges.

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Recent Video Interview

Main points of the interview:

• OpenOcean Overview: The broadest-reaching DEX aggregator, launched on 22 chains with 285+ liquidity sources.
• Main Goals: Democratize crypto trading for institutions and individual users.
• Key Features: fee-free swaps, cross-chain swaps, and perpetual futures.
• Future Plans: Enhance user experience and integrate more features and partners.

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Benefits of OpenOcean

Cross-Chain Support: OpenOcean facilitates cross-chain swaps by leveraging cross-chain protocols to connect various public blockchains. As the infrastructure matures, the platform will further enhance its capabilities to enable direct cross-chain transactions.

Derivatives Product Aggregation: The protocol is set to broaden its product offerings to include derivatives based on user demand. OpenOcean's future plans involve developing tools to aggregate on-chain derivatives, creating a convenient hub for derivatives traders, and supporting arbitrage and CTA trading strategies across various products, including perpetual futures and options. Additionally, OpenOcean will provide intelligent investment services to assist users in participating in the DeFi ecosystem and automating their asset management.

All-Inclusive User Support: OpenOcean caters to a wide range of users, whether they are beginners or advanced traders. The user interface is designed to be user-friendly and entirely free. For funds and professional traders, OpenOcean offers APIs and customized trading interfaces to assist investment institutions in developing trading strategies, including quantitative arbitrage.

OpenOcean's Investors

OpenOcean has successfully concluded strategic investment and private placement fundraising, securing support from prominent industry investors. The strategic round of investment is spearheaded by Binance, with additional contributions from esteemed strategic investors, including Multicoin Capital, LD Capital, CMS, Kenetic, and Altonomy. In the private round, investors such as Altonomy, LD Capital, DAOMaker, OKEx Blockdream Ventures, AU21, FBG, the TRON Foundation, Asymmetries Technologies, and LIAN Group participated. Notably, in July 2021, Huobi Ventures Blockchain Fund also made a strategic investment in OpenOcean.

OpenOcean Team Background

OpenOcean is founded by Cindy Ng, Cindy, whose professional background includes roles as a strategy manager at RBS, an M&A manager at 3M, and a senior investment director at a prominent Private Equity fund. In 2017, she discovered her passion for blockchain investment. Cindy holds a Master's degree in Advanced Finance from a renowned business school.

Other main team members include Leo Syue (Co-Founder), Lawrence Lau (Smart Contract Development), and Yip Tsai (UI).

OpenOcean Ecosystem

OpenOcean is collaborating with market makers, decentralized exchanges (such as Uniswap, PancakeSwap, SushiSwap, Balancer, Clipper, DODO, Hashflow, Orca), wallets (MetaMask, Trust Wallet, Brave Wallet, Coinbase Wallet, ONTO Wallet...), and bridge providers (Multichain, Celer cBridge, Synapse Bridge, AB Bridge, Arbitrum Bridge, Matic Bridge...) to construct a cohesive decentralized financial ecosystem accessible to all within the realm of Web 3.0.

OpenOcean Project Development

In a significant move, OpenOcean, a leading multi-chain web3 aggregator and middleware developer operating across 30+ blockchain networks, has proudly announced the integration of its aggregation services with Coinbase's latest Ethereum scaling solution, BASE. This marks a significant step toward fulfilling OpenOcean's vision of a multichain future and underscores its commitment to offering the most efficient one-stop solution for web3 capital-efficient swaps.

BASE, as a layer 2 scaling solution for Ethereum, utilizes Optimistic technology to enhance transaction throughput and reduce gas costs. Leveraging Optimistic rollup technology, it batches blockchain data for writing to the Ethereum main chain, reducing congestion and ensuring faster transaction finality—especially beneficial for the DeFi sector.

The decision to integrate with BASE is driven by OpenOcean's collaboration with Coinbase, one of the world's most renowned cryptocurrency exchanges. This partnership aims to provide a capital-efficient trading experience on BASE while expanding the value and reach to a wider DeFi audience. By tapping into Coinbase's vast resources and extensive network, BASE is poised to play a pivotal role in the Ethereum scaling ecosystem.

OpenOcean Price Analysis

As of November 24 2024 OpenOcean has a marketcap of $5.6M. This is {{percentagefromath}} from its all time high of $1.034. In terms of its tokenomics, there's a total supply of 1B with 50% currently outstanding. Keep in mind OpenOcean has a fully diluted value of $11M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.