Popular DEX aggregator, OpenOcean has launched on Aptos a layer 1 blockchain. With the development, the network via a blog post said deep liquidity sources like Pontem, Pancake, Aux, Ditto, Aptoswap, AnimeSwap, Econia, Basiq and many others will become available on Aptos through OpenOcean.
As announced in the blog post by OpenOcean, the collaboration is an attempt to expand its presence in the DeFi space. Aptos as a Layer 1 blockchain provides scalability, reliability, security and usability. Aptos is highly regarded for its parallel execution, high-level security and cheap transaction charges. So, OpenOcean will leverage these qualities to enhance its services.
Additionally, OpenOcean started in the blog post that it collaborated with Aptos because of its efficiency. The Layer 1 blockchain has the technical capabilities to handle about 160,000 transactions per second. Despite handling such enormous transactions at a time, the failure of a transaction cannot affect the smooth running of the chain. This is because Aptos handle these transactions simultaneously with parallel execution.
More so, the aggregation will aid OpenOcean to offer the cheapest rate for users. Now, OpenOcean’s API, SDK and Widget are available on Aptos, thus, giving developers, investors and Web3 projects on the network access to them. Routing more efficient swaps at friendly rates.
The solutions are easy-to-use API for individuals and projects that needs non-custodial functions such as price data, token swaps, transfers, and trade tracking. Furthermore, OpenOcean API provides the best swap dividend through the execution routing algorithm for all supported 19 supported blockchains including Aptos.
OOE and it’s importance to OpenOcean
OOE is the utility token for OpenOcean, and it’s minted on ERC-20. The token is integral to the smooth running of the network. The vision of the network is to formulate a full aggregator for cryptocurrency that enables trading to increase capital efficiency. In that direction, OOE is envisioned to bridge the gap between the current fragmented CeFi and DeFi markets.
Furthermore, the OpenOcean aims to aggregate prominent networks like Ethereum, Polygon, and Ethereum. These networks charge users gas and exchange fees for using them. In order to facilitate these payments and other exchanges on the OpenOcean platform, the network launched its native token, OOE. According to market data provided by Coincodex, OOE currently trades at $0.016644.