OpenOcean is the world’s leading full aggregation protocol across decentralized and decentralized finance. The team takes the next step in its ongoing evolution by aggregating Arbitrum and all of the leading DEXes on this network. Native support for UniSwap v3, Balancer v2, SushsiSwap, Curve, DODO, Synapse, and Swapr will provide OpenOcean users with maximum returns through various Ethereum Layer-2 opportunities.
As one of the many Layer-2 scaling solutions for Ethereum, Arbitrum has attracted tremendous attention and commitment from large players. That growing focus yields a steep increase in Total Value locked )TVL) on the network. Many people see merit in the optimistic rollup technology powering network transactions and submitting data to Layer-1. For DeFi enthusiasts, Arbitrum provides the same benefits as Layer-1 without the high transaction fees, providing a substantial benefit over Ethereum.
OpenOcean Co-founder Cindy Wu adds:
“On the one hand, we know our users are trading on Ethereum and have been requesting us to aggregate more Layer-2 solutions to access cost efficient and fast trading while still being in the Ethereum ecosystem. On the other hand, we also know that some of our users have been hesitant or directly reluctant to trade on Ethereum due to the cost. With the Arbitrum aggregation we mash two potatoes with one fork and our users can swap around the trading universe with one-stop trading on OpenOcean.”
OpenOcean is a crucial cog in the Web3 experience and ecosystem. Users can benefit from maximized returns on decentralized assets across various networks without worrying about additional fees. In addition, aggregating Layer-2 constructions paves the way to reduce transaction fees further and ensure fewer users have to deal with Ethereum network congestion.
Arbitrum holds a strong position in the layer-2 segment. It holds over 40% of all layer-2 Total Value Locked market share. That dominant position is reinforced by Arbitrum’s top-notch technology, team, and launching at an opportune time. Furthermore, the network has the most volume and highest number of users across all Layer-2 constructions built on top of Ethereum.
Ethereum layer 2 constructions ranked by total value locked. Source: https://l2beat.com/
About OpenOcean
OpenOcean is the world’s first DeFi and CeFi full aggregator. OpenOcean’s intelligent routing algorithm finds the best price and low slippage for traders across centralized and decentralized exchanges with no additional fees. As a one-stop trading entrance, it has aggregated major DEXes across public chains, including Ethereum and Layer 2, Binance Smart Chain, Avalanche, Polygon, Solana, Fantom, HECO, TRON, Ontology, and a CEX (Binance). OpenOcean will continue to support cross-chain swaps via bridges and cross-chain protocols, aggregate more DeFi and CeFi products, and launch intelligent management services.
About Arbitrum
Developed by Offchain Labs, Arbitrum is an “Optimistic Rollup” scaling solution for Ethereum. It instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with most existing Ethereum developer tooling. Arbitrum has launched Arbitrum One on Ethereum mainnet and the team is already working with hundreds of projects that are building on Arbitrum One.