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Open Ocean

Trade Crypto your way!
Category
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Finance
Blockchain
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+3
Ethereum, BSC, Tron, Ontology, Polygon ...
Currency
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OOE
Publisher
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OpenOcean Team
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What is Open Ocean?
OpenOcean is the world’s first full aggregation protocol for crypto trading that sources liquidity from DeFi and CeFi markets and enables cross-chain swaps. Our intelligent routing algorithm finds the best prices from DEXes and CEXes and splits the routes to provide traders the best prices with low slippage and fast settlement. The product is free to use; OpenOcean users only need to pay the regular blockchain gas and exchange fees for the trades, which are charged by the exchanges and not OpenOcean.

OpenOcean is the most efficient DEX aggregator protocol for crypto trading that sources liquidity from DeFi markets and enables cross-chain swaps. Our intelligent routing algorithm finds the best prices from DEXes and splits the routes to provide traders the best prices with low slippage and fast settlement. The product is free to use; OpenOcean users only need to pay the regular blockchain gas and exchange fees for the trades, which are charged by the exchanges and not OpenOcean.

OpenOcean aggregates major decentralized exchanges across Ethereum, Layer 2s such as Arbitrum and Optimism, BNB Chain, Solana, Avalanche, Fantom and more, and is the first DEX aggregator on BNB Chain, Avalanche, Fantom, Solana and Gnosis. We continue to expand more public chains and decentralized exchanges based on the needs of the community.

Besides aggregation of swaps, OpenOcean will continue to aggregate derivatives products and launch its own intelligent wealth management services. OpenOcean provides an API and arbitrage tools for users to operate automated arbitrage strategies.

The vision is to build a full aggregator for crypto trading that increases capital efficiency and connects the isolated islands in the current fragmented DeFi and CeFi markets. Regardless of being a small individual investor or large institution, everyone should have the opportunity to trade at the best prices and apply their own investment strategies to various crypto asset classes.

OpenOcean has its own token - OOE, which serves as a utility and governance token.

Cross-chain support
OpenOcean supports cross-chain swaps between the aggregated public chains via cross-chain protocols and will support direct cross-chain transactions once the infrastructure matures.
Derivatives product aggregation
The protocol will expand product scope into derivatives both from DeFi markets based on user needs. We are planning to build products to support the aggregation of on-chain derivatives and act as a one-stop-shop for derivatives traders to help facilitate arbitrage and CTA trading strategies for various products, such as perpetual futures and options.
In addition, OpenOcean will also provide intelligent investment services to help users participate in the DeFi ecosystem and automate their asset management process.

All type of users coverage
OpenOcean will support all types of users. No matter if you are beginner or advanced traders, OpenOcean is ready to use. The existing interface is user-friendly and completely free for users. For funds and professional traders, OpenOcean provides an API and customized trading interface services to assist investment institutions in developing trading strategies such as quantitative arbitrage.

Protocol algorithms
The OpenOcean protocol consists of public smart contracts deployed on each aggregated public chain and proprietary technology such as discovery and routing algorithms. OpenOcean utilizes an optimized version of the Dijkstra algorithm (D-star) which then splits routing between different protocols for better transaction rates. This ensures that users get the best price on the market with less gas consumption and lower slippage.
Applies an optimizing algorithm based on Dijkstra and D-star to get the initial best route
Optimizes the routes based on machine learning using platform data
Offers the best price to users by comparing the prices on aggregated DEXes with the best price
Protects user interests by subsidizing slippage losses with OOE tokens
Utilizes transparent pricing mechanisms without charging additional protocol transaction fees
The public smart contracts facilitate transactions between users and exchanges through an API, which is either accessed via the OpenOcean interface or the user’s API setup. The contracts include several inner contracts that each perform a specific function such as swap, price quote, route, calculate, optimize, and communicate with the algorithms.

Fees on OpenOcean
OpenOcean provides a transparent pricing mechanism without charging any additional protocol transaction fees for DeFi users. No fees are charged to DeFi users for the current route finding function.
Fees will be generated from:
Institutional investors that run investment strategies through our custom-made UI. An API is also available for traders and institutions as well Intelligent wealth management services
Information
Type
Automated Market Maker
Blockchain
Ethereum, BSC, Tron, Ontology, Polygon
Ethereum, BSC, Tron, Ontology, Polygon
Currency
OOE
Platform
Windows, macOS
Publisher
OpenOcean Team
Version
v3.0
FAQ
The Smart contracts cannot access your tokens until you approve access to your end.
Approvals are required because DEXes use smart contracts on the blockchain to execute transactions. By ‘unlocking’ your tokens, you grant permission to smart contracts to spend your assets. This causes an approval fee charged by networks, not OpenOcean.
There are two options:
1) Unlock a specific amount
Unlocking a specific amount is for one trade only.
2) Infinite unlock
The infinite unlock option will allow you to save on gas, since you won’t need to pay gas fees for unlocking the same token in the future. However, this is still considered to be a slightly more risky option.
Access your CEX account through OpenOcean trading page and select ' CEX account' under More dropdown list.
Log in your CEX account.
After login, you may select the token and public chain to be withdrawn, fill in the address and amount, and confirm the order. (Before withdrawal, please double check the token and the address to avoid loss of assets)
1. Price quotation from DEXes
2. Optimize and find the best trading routes for the best price with low slippage
3. Communicate the prices to the user and execute trades
Visit OpenOcean trading interface, and select the chain you would like to swap, then click MetaMask. OpenOcean supports automatic configuration of networks. If it's your first time connect this chain, you only need to click Approve on the pop-up wallet window. Then you don't need to add the network again next time.
After Approve, you will see your wallet address has connected to the chain on OpenOcean. Now you can start to swap!
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