Ellipsis Finance, the stablecoin exchange backed by Binance Smart Chain (BSC), has entered into a partnership with OpenOcean.
OpenOcean (OOE) is a popular CEX and DEX aggregator platform backed by Binance. The partnership, according to reports, will bring to life stablecoin swapping. OpenOcean is the first-ever completely decentralized aggregator platform available today. Interestingly, it is well known for bringing together both CeFi and DeFi platforms. Therefore, ensuring that crypto traders enjoy unrestricted access to the best prices at all times.
OpenOcean also recently revealed details to launch its much-anticipated OOE tokens. The OOE token will also double as a governance token. It will provide holders with voting rights, serve as collateral for lending purposes, facilitate liquidity mining, reduced gas fees, etc.
More on the Partnership
The partnership with Ellipsis Finance is a step in the right direction for the aggregator platform. With Ellipsis, stablecoin swapping is now possible. The partnership has also aggregated an estimated $2.9 billion worth of liquidity on OpenOcean.
While facilitating the swapping of stablecoins, users will also enjoy reduced fees, reduced slippage, and better pricing.
đź“ŁAnother aggregation completes!
🌊#OpenOcean aggregates @Ellipsisfi with additional $2.9B liquidity🌊
⚡️Users can swap stablecoins on https://t.co/b4ffEKRy0e with possible better price & lower slippage. pic.twitter.com/TX1OaPqdg8
— OpenOcean (@OpenOceanGlobal) April 21, 2021
More on OpenOcean
OpenOcean has disclosed details of some of its lofty plans.
Starting with its proposed OOE token launch. This launch is expected to facilitate its plans to create an environment packed with benefits for all (CeFi and DeFi inclusive). It has also revealed plans to launch insurance services, cross-chain support, general asset management services, yield product lending, etc.
OpenOcean (OOE) is also supported by several top players in the crypto space. Some of them include top crypto exchange Binance, LD Capital, Multicoin Capital, CMS, Tron Foundation, DAO Maker, etc.
OpenOcean and BakerySwap Trading Campaign
The DEX and CEX aggregator platform recently completed a trading campaign with BakerySwap. About $3,800 worth of BAKE tokens was distributed during the campaign. The campaign began on April 16 and ended on April 22, 2021. Also, rewards were allocated based on users’ total trading volume on OpenOcean.
🎉#OpenOcean & @bakery_swap Trading Competition Ends Now 🎉
We will release the result within 2 days! Thank you all for your participation!🔥 https://t.co/uJYtJvupXC
— OpenOcean (@OpenOceanGlobal) April 22, 2021
Participants only had to trade a minimum of $5 worth of BAKE, PET, or SOCCER tokens on the OpenOcean Classic or PRO Beta platform to be eligible to win.
Also, join us on Telegram to receive free trading signals.
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