OpenOcean, the popular CEX and DEX platform that is quite similar to 1inch but with CEX liquidity has disclosed details of its much anticipated OOE token launch.
OpenOcean is the first-ever fully decentralized aggregator platform. Interestingly, Binance, the leading crypto exchange is invested in the platform. It provides users with everything needed to carry out crypto trading. OpenOcean’s OOE token is scheduled to go live in mid-April and will involve two airdrops. The first airdrop has been completely booked. Interested persons can, however, still qualify for the second round of the airdrop. Tokens acquired during the airdrop can be claimed at the official launch of the OOE token.
OpenOcean, simply put, provides users with an easy and seamless entry into the world of crypto trading. The DEX and CEX aggregator platform also boasts of more than 170,000 active users and more than $800 million in aggregate volume since its launch six months ago.
- The platform will serve as a bridge between CeFi and DeFi platforms. Providing trading parties with the best prices at all times.
- Its functioning products also help aggregate cross-chain decentralized exchange providers (DEXes) like Ethereum, Tron, Binance Smart Chain (BSC), and ONT, as well as public chains like Solana, Polkadot, etc.
- OpenOcean makes use of the upgraded version of the Dijkstra algorithm known as D-star. This optimized version of Dijkstra basically separates the routing of different protocols, therefore resulting in better transaction rates. The aggregation of Binance took place on March 29, 2021, at exactly 8:00 am (UTC)
- The protocol will also subsidize slippage with OOE tokens as well as ensuring zero additional fees.
The proposed OOE tokens will serve a number of purposes in the OpenOcean ecosystem. Some of these purposes include providing community members with voting rights, slippage subsidies, gas fee reduction, liquidity mining, collateral for lending, etc.
The DEX and CEX aggregator platform also boasts of top-notch support from its investors. Some of its strategic investors include Binance, Multicoin Capital, Altonomy, Kenetic, LD Capital, and CMS. It also has several advisors and financial investors like AU21, DAO Maker, Tron Foundation, Block Dream Fund, and Cao.
Following its token launch, OpenOcean has plans to go “further out to sea.” It has the vision of building an ecosystem that is beneficial to all, whether DeFi or CeFi. Plans are in place to provide derivatives, yield products, lending, insurance, cross-chain support, and general wealth management services as well.
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