What is OpenOcean (OOE)?

OpenOcean is the first full aggregation protocol for cryptocurrency trading in the world, allowing cross-chain swaps and sourcing liquidity from DeFi and CeFi. 

Full aggregation refers to one-stop services that scan the CeFi and DeFi markets to locate and optimize the best trading possibilities for all digital assets on public blockchains.

Although allowing for cross-chain exchange, the OpenOcean aggregation protocol sources its liquidity from the CeFi and DeFi markets. Without the use of an intermediary party, a cross-chain swap function makes it possible to trade tokens between various blockchains.

The goal of this platform is to create a complete crypto trading aggregator that boosts capital efficiency and links isolated islands in the fragmented DeFi and CeFi markets as they exist today. Whether a big institution or a small individual investor, everyone should be able to trade at the best rates and apply their investment approaches to the many asset classes of cryptocurrencies.

In order to offer traders the best prices with little slippage and quick settlement, OpenOcean’s clever routing system separates the routes and finds the best prices from Decentralized Exchanges (DEXes) and Centralized Exchanges (CEXes). CEX promotes a centralized cryptocurrency exchange platform that enables participants to securely swap digital assets.

Users of the product are only required to cover the standard blockchain gas and exchange fees for trades, which are levied by the exchanges and not OpenOcean. The product is free to use.

The protocol typically follows these 3 steps when conducting a trade on OpenOcean:

  • DEXes and CEXes’ price quotations.
  • Improve and identify the most profitable trading paths with minimal slippage.
  • Describe the prices to users and carry out trades.

OpenOcean is the first DEX aggregator on BNB Chain, Avalanche, Fantom, Solana, and Gnosis, and it aggregates key decentralized exchanges spanning Ethereum, Layer 2s like Arbitrum and Optimism, BNB Chain, Solana, Avalanche, Fantom, and more. Based on community demands, we keep adding new public chains and both decentralized and centralized exchanges.

The OpenOcean ecosystem’s native asset is the OOE token. The OOE is an ERC-20 multichain token for the platform that was created on Ethereum. It functions as a governance token and a utility token. A private blockchain application that works within or between organizations can be created and deployed using the open-source Multichain blockchain network. Additionally, the token aims to facilitate utility for protocol users while enabling the community to take part in governance. By recommending suggestions for votes on the protocol’s parameters, potential chain aggregators, and DEX, this in turn seeks to assist token holders in determining the protocol’s future.


Who are the founders of OpenOcean (OOE)?  

According to the asset’s whitepaper, the development of OpenOcean began in the third and fourth quarters of 2020 and is still ongoing now.


What is OpenOcean (OOE) used for?  

Owners of OOE tokens have a variety of options for using their tokens, including trading on OpenOcean, participating in governance through voting, providing liquidity and a stake to earn, and just holding onto them. The advantages that holders of the OOE token receive while making purchases and deployments on the OpenOcean trading aggregation platform demonstrate the token’s value.

The uses of OOE tokens are as follows: 

  • Gas and trading fees: OOE can be utilized for either a gas or trade fee.
  • After suggestions have successfully made it through the screening and selection processes, they will be put up for a formal vote. Owners of OOE tokens have the ability to vote, and the number of tokens they own affects how many votes they can cast.
  • OOE may also be used as collateral when a loan is secured by a margin.
  • Mining rewards for liquidity and trading: 33% of the total OOE tokens will be allocated as mining rewards for liquidity providers.


How is OpenOcean (OOE) unique?  

The project has an outstanding idea; however, it hasn’t gained much attention yet despite having a good mechanism. The more DEXes and CEXes that OpenOcean can aggregate will be beneficial since it serves as an aggregator, obtaining liquidity from DeFi and CeFi and enabling cross-chain exchanges.

OpenOcean’s unique features are as follows:

  • All user types are supported by OpenOcean. OpenOcean is ready to use whether you are a novice trader or an expert. The current UI is simple to use and totally free for users. To help financial institutions build trading methods like quantitative arbitrage, OpenOcean offers an API and customized trading interface services to funds and professional traders.
  • Cross-chain protocols are also supported by OpenOcean between the combined public chains, and once the infrastructure is more developed, direct cross-chain transactions will be supported as well.
  • Lower costs With OpenOcean Liquidity Pools, there is a fixed trading charge of 0.2%, which is less than the industry average of 0.25% or more (0.3% for Uniswap and 0.25% for Pancake Swap). 0.05% goes to the Treasury, and 0.15% is returned to the liquidity providers.
  • All OpenOcean public contracts successfully underwent security auditing on March 9, 2021, by Certik, and on February 18, 2021, by SlowMist. The team has also done an excellent job of catching up on the roadmap and completing their objectives on schedule.


How many OpenOcean (OOE) coins are in circulation? 

It has a maximum supply of 1,000,000,000 OOE coins and a circulating supply of 504,425,832 OOE coins.

  • To their strategic investors, who are working with them to build a sustainable environment, 5.6% is distributed over two years.
  • For private placement and strategic round two, 7.5% over 2.5–3 years.
  • To support protocol development, onboard value-adding ecosystem partners, community developers, and bounty programs, OpenOcean Lab and co-builders will receive 29% over the course of three years.
  • To encourage future liquidity providers and motivate users, 33% over 5 years for liquidity mining
  • 7% over three years to the OpenOcean ecosystem co-builders who oversee ecosystem development, community incentives, campaigns, etc.
  • 15.9% for the team and advisers during three years
  • 2% of the tokens were given to our early adopters as soon as they were issued.


How is the OpenOcean (OOE) network secured?

To shield users from security flaws and other occurrences, OpenOcean adopts a security-first strategy. In addition to conducting internal security audits, OpenOcean often collaborates with outside partners to meet the most recent and rigorous industry requirements. All OpenOcean public contracts from Certik on March 9, 2021, and SlowMist on February 18, 2021, were successfully security audited.

By developing the use of cutting-edge formal verification technologies on smart contracts and blockchains, CertiK is a leader in blockchain security. Formal verification, as opposed to conventional security audits, mathematically establishes program correctness and hacker resistance.

Another business specializing in blockchain ecosystem security is SlowMist Technology. The business is already a leading worldwide blockchain security provider, supplying security solutions that combine threat identification and defense while being tailored to local circumstances for several well-known projects throughout the world.


How do I buy OpenOcean (OOE)?

The OOE token can be used for a wide range of purposes, like staking and payments.

OpenOcean (OOE) tokens can be easily purchased by following the steps below. 

* Open an account with the crypto trading platform of your choice.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy CNS through your trading account by swapping with BTC, ETH, or USDT pairs.


Which Cryptocurrency Wallet Supports OpenOcean (OOE)?

The PTPWallet platform supports many cryptocurrencies, with OOE soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most popular platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform has a simple user interface, is compatible with both Android and iOS devices, and includes a mobile wallet app.

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