OpenOcean — Weekly Development Highlights

OpenOcean has continually provided and automated various systems for their community throughout the year of 2021, They wish to end the year on a great note through initiatives like AMAs, listing of tokens (OOE) and so on. They are currently upgrading their systems in order to improve server performance while researching ways to incentivize their audiences. In the article today, A weekly update on what the platform has been up to will be detailed. Before that, a little explanation on what OpenOcean is will be stated below;

OPENOCEAN PLATFORM

OpenOcean is simply the 1st Decentralized & Centralized finance Based Aggregator. OpenOcean’s algorithm for intelligent routing searches for the best prices with minimal slippage for every user/ trader affiliated with the Decentralized and Centralized Exchange system with no extra charges. OpenOcean has aggregated a lot of prominent DeXs around the publicnetwork. These mediums include; Solana, fantom, Polygon and many more. The system still plans to integrating crosschain swaps via crosschain bridges and systems. While on this integration, they are dedicated to providing the community with frequent weekly updates, the updates for this week will be detailed below:

AXIAL DEFI INTEGRATION

On the 6th of December, OpenOcean announced that they’ve newly integrated Axial DeFi, which is the new center for Liquidity on Avalanche AVAX, as a new Liquidity source for efficient Stablecoin trading to offer users maximum returns

For more info : https://openocean.finance/classic#/AVAX/DAI.E/MIM

ETHEREUM LAYER 2 SOLUTION INTEGRATION

On the 8th of December, OpenOcean announced that they have added Ethereum Layer2 Solution (arbitrum) developed by OffChain labs. With this, there will be two major benefits for users which are; Reduced Transaction costs and instant confirmation. As part of the integration, OpenOcean has also added several protocols as a liquidity source; they include; Uniswap, BalancerLabs, BreederDodo, CurveFinance, Sushiswap, SwaprEth, and Synapse Protocol.

Start with Arbitrum by using one of the bridges they directly link to from their trading interface, such as the Arbitrum bridge, AnySwap Network, Synapse Protocol or cBridge v2 bridge powered by Celery Network

For more info: https://openoceanglobal.medium.com/openocean-aggregates-arbitrum-to-expand-its-one-stop-trading-solution-48634b95e54a

SPOOKYSWAP GOVERNANCE VOTE

On the 9th of December, A new Spookyswap governance vote went live. Thanks to OpenOcean, this vote introduces an OOE pool and farm. Users could stake xBOO tokens to earn OOE tokens, while also staking OOE — FTM LP tokens to earn BOO tokens.

For more info: https://twitter.com/spookyswap/status/1468771486441906180?s=21

SpookySwap Farm

On the 10th of December, OOE tokens went live on FantomFDN with a Spookyswap farm. For users who don’t have OOE on Fantom, all they have to do is bridge OOE tokens from Ethereum via Spookyswap or AnySwap Network bridges. Transfer OOE tokens from CeXs like KuCoin, gate_io, and so on, to Ethereum, then bridge to Fantom. Swap FTM Tokens for OOE tokens on: http://openocean.finance/classic#/FANTOM/FTM/OOE

For more details: https://openoceanglobal.medium.com/openopean-kicks-off-ooe-farming-on-spookyswap-3c7b59c2e241

RADIOCACA NFT AMA

On the 10th of December, at 16:00 UTC, OpenOcean had Caleb from Radioraca team to join the Community and share their story about MetamonIsland

For more info: https://twitter.com/OpenOceanGlobal/status/1469309840795512835?s=20

SUMMARY

With the updates outlined above, it really shows how hard-working the platform’s team are. It’s also important to note that during the week, Atlantic Wave Program allocated 1,600,000 OOE token boosters to BSC farms for a whole month, so that’s great news for all users. The network is really proving to be a Onestop destination to trade on 10 networks. It also grants users freedom to trade any token with the best return. While facilitating this sector, users will be empowered with more reward & incentive plans along the way.

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