What Is Openocean Coin?
Using OpenOcean as your DeFi & CeFi aggregator is a no-brainer. OpenOcean uses a highly tuned intelligent routing system to discover the best price for traders on aggregated DeFi and CeFi, with no extra fees and the lowest slippage possible.
Additionally, OpenOcean will continue to aggregate derivative, yield, loan, and insurance products and will provide its own combined margin products and an intelligent wealth management solution on top of the swap aggregation. Users may automate arbitrage trades using OpenOcean’s APIs and arbitrage tools.
We want to construct a whole aggregator for crypto trading that acts as a bridge between the scattered DeFi and CeFi marketplaces now in existence.
A wide range of crypto asset classes should be accessible to all investors, no matter their size, whether they’re a little person or a major institution.
Full User Coverage
Not only will OpenOcean accommodate DeFi users, but so will CeFi users. Support is available to both novice and experienced traders.
In addition to being very easy to use, the current interface is also absolutely free for users. With the use of OpenOcean APIs and bespoke trading interfaces, financial institutions may implement trading methods such as quantitative arbitrage.
Several well-known industry investors have invested in our company via strategic investments and private placements. Strategic investors include Binance, Multicoin Capital, CMS, Kenetic, and Altonomy in the round lead by Binance.
Altonomy, LD Capital, DAOMaker, OKEx Blockdream Ventures, AU21, FBG, the TRON Foundation, Asymmetries Technologies, and LIAN Group were among the investors in the private round of funding.
Additionally, Huobi Ventures Blockchain Fund invested in OpenOcean back in July.
Openocean’s Pricing Algorithm
It is critical to have access to exchanges with the greatest pricing and extensive liquidity in order to acquire the finest deal. By checking many DEXes and CEXes for the greatest pricing and liquidity, OpenOcean assists users to obtain a better deal.
Numerous other DEXes, such as Uniswap and PancakeSwap, were inspired by DeFi. It is impossible to access all the DEX’s pools and liquidity simultaneously.
Each pool has varied pricing and not necessarily deep enough liquidity to ensure little slippage, particularly when big volume transactions are being made.
Because of this, the OpenOcean protocol prioritizes and optimizes liquidity channels across several DEXes in order to maximize total profits on your transaction.
In most cases, the protocol on OpenOcean follows the following three steps:
- Request for price quotes from the two major suppliers, DEX and CEX
- Improve and discover the most cost-effective trading paths with the least amount of slippage possible.
- Communicate the pricing to the user and perform transactions
Data on the Current Price of OOE
Now trading at $0.107863 with a 24-hour volume of $3.401.447 USD, the OpenOcean price is now in real-time.
Our OOE to USD pricing is constantly updated. During the last 24 hours, OpenOcean has gained 1.48 percent.
There is now a live market capitalization of $16,168,095 USD on CoinMarketCap.com. One billion OOE coins are available for circulation, with a current circulating supply of 149,895,377 and a maximum supply of 1,000,000,000.
Incentives for Mining Liquidity and Trade
Liquidity and trade mining incentives make up 33% of the overall OOE token distribution, which is used to distribute the token equitably, compensate liquidity providers, and offset trading costs.
Mining of Liquids
OOE pools get incentive packages to entice liquidity providers and ensure a broader pool of liquidity. As a utility token, the OOE token may be used to build OpenOcean liquidity in these pools, rather than for speculative objectives.
The Mining Industry Trades in Gold and Silver
OOE is earned from connected transactions, and trade mining programs provide subsidies for OOE-related trading to offset the costs.
- Over the course of two years, strategic investors will get 5.6 percent of our profits.
- Seven per cent for the second strategic round and private placement over a period of 2-3 years.
- For OpenOcean Lab to support protocol development, onboard value-added ecosystem partners, community developers and reward programs over the course of three years.
- Liquidity mining will grow by 33% over the next five years to attract new liquidity providers and reward consumers.
- The ecosystem foundation that handles OpenOcean’s ecosystem development, community incentives, marketing and campaigns will get a 7 percent increase over the next three years.
- A three-year compound annual growth rate of 15.9% for the group and advisers
- 2% of the tokens were given to our early adopters as a thank you for their support.
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Auditing for Safety and Security
First and foremost, OpenOcean focuses on protecting its consumers from security breaches and other catastrophes. Additionally, we routinely collaborate with external partners to ensure that we are meeting the most current and cutting-edge industry standards.
Certik and SlowMist conducted security audits of all OpenOcean public contracts on March 9, 2021, and there were no concerns.
The application of cutting-edge formal verification technologies on smart contracts and blockchains is a leader in blockchain security.
Formal verification, unlike typical security audits, mathematically demonstrates the correctness of the software and its resistance to hacking.
Blockchain security is at the heart of SlowMist Technology’s mission. The firm has already established itself as a leading worldwide blockchain security organization, providing services to a wide range of well-known projects throughout the world.