Builder Project Name: OpenOcean
Submission Date: November 1, 2024
Sector: Dex Aggregator
Links to Deck / Video / Images:
Website: openocean.finance
Twitter: x.com
Medium: https://blog.openocean.finance/
Docs: https://docs.openocean.finance/
Description:
OpenOcean is a leading DEX Aggregator, cross-chain swap aggregator, and web3 middleware developer in web3, offering a suite of trading tools across 30+ chains (including EVM and non-EVM chains) and 1,000+ decentralized liquidity sources to provide users with the best prices.
Product:
OpenOcean is the first and only aggregator on-chain to integrate the deepest liquidity sources on Rootstock by integrating Oku, Sovryn and SushiSwap. More importantly, OpenOcean’s advanced intelligent routing algorithm ensures traders enjoy the best on-chain swap rates for all available trading pairs. The trading volume generated on OpenOcean flows directly into the ecosystem’s DEXs and tokens providing meaningful volume, utilization of LP’s and transactions on-chain.
Looking forward, we will launch advanced trading tools on Rootstock such as Limit Orders, DCA and Cross-chain swaps.
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Limit order function is gasless and helps traders to execute trades at their desired rate for any token pairs by utilizing our aggregation protocol mechanism.
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DCA (Dollar-Cost Averaging) function is an investment strategy where traders can invest a fixed amount of money at regular intervals, regardless of the asset’s price. This helps mitigate the impact of market volatility by spreading out your investments over time. OpenOcean’s DCA is gasless, non-custodial and ensures the swaps can be executed at the best rate.
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Cross-chain swaps allow traders to bridge and swap assets from other chains to Rootstock for any token pair at the best rate.
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OpenOcean has a powerful API/SDK for all Dapps, developers and traders that are willing to trade and build on Rootstock for enhanced platform UX and swap features.
Currently OpenOcean’s main feature on Rootstock is as the network’s leading DEX aggregator and API/SDK provider.
OpenOcean’s API/SDK simplifies the onboarding process for other projects, allowing them to benefit from unencumbered access to Rootstock’s liquidity and OpenOcean’s existing user base. With OpenOcean’s API, protocols and users gain exposure to the absolute best token and LP index possible, making integrations for new platforms hassle free, but also seeking to empower those onboarding with Rootstock.
On RootStock OpenOcean has partnered with Symbiosis, Li Finance, Rubic and many more to empower Rootstock’s cross-chain swap capabilities . Working with bridge partners allows OpenOcean to offer seamless access to Rootstock’s on-chain ecosystem and ultimately improves user experience and convenience by removing pain points in regards to onboarding native TVL and increasing user throughput.
Mission:
OpenOcean’s mission on Rootstock is to bring more protocols, users, and trading activities to Rootstock.
By providing easy integration through OpenOcean’s API/SDK, the onboarding process to Rootstock is simplified. With over 1 million users across 30+ chains and cross-chain partnerships, OpenOcean can drive awareness and user flow to Rootstock, increasing TVL.
OpenOcean aims to increase trading on Rootstock by offering intelligently routed swaps and on-chain tools like limit orders and dollar-cost averaging (DCA) functionality. These innovations make executing trading strategies effortless, driving profitability for users and increased ecosystem activity.
General traction
Launched at the end of 2020, OpenOcean has successfully operated for four years and on-boarded over 1.3+ million active users with over 7 millions swaps. The community has more than 55K members in Discord and Telegram. In social media, our official X (Twitter) has attracted over 400K followers.
Conclusion:
The RootStock collective community should consider voting for OpenOcean as one of the valued Rootstock ecosystem partners. As RootStocks primary DEX aggregator, OpenOcean consolidates multiple liquidity sources, including Oku, Sovryn and SushiSwap ensuring traders access optimal rates while enhancing trading efficiency through deep liquidity integrations and smart routing via the OpenOcean v4 smart-router (the most efficient to date).
To increase the tool set available to the Rootstock community, OpenOcean plans to expand the current availability of non-custodial Limit Orders and on-chain DCA orders to RootStock.
OpenOcean is committed to expanding awareness of Rootstocks unique advantages in the broader web3 and Bitcoin ecosystems. With the OpenOcean v4 SDK/API, it’s now easier than it’s ever been for existing projects to access the best trade infra on-chain, this also includes encouraging and supporting new projects looking to deploy on Rootstock.
OpenOcean has established a strong presence in the current market as a leading DEX aggregator, with a substantial reach and influence across the Web3 space. By actively promoting RootStock to our extensive communities, clients, b2b partners and across various social networks we hope to increase business-side awareness to attract high-quality projects as well as sharing developer resources to aid new inter-protocol integrations.
