In this article, we will review OpenOcean, a gateway to efficient crypto trading with low fees. An aggregation protocol that brings liquidity from both centralized and decentralized exchanges (DEXes) and CEXes (CEXes) together in one comprehensive package. The Ocean Protocol allows for swapping at the lowest price and slippage and allows you to identify arbitrage opportunities among CEXes. It was founded in 2017 by a group of experienced consultants and entrepreneurs. They offer a simplified pricing scheme for DeFi users, with no additional protocol transaction fees.

Some notable investors of OpenOcean are Kenetic, Multicoin Capital, LD Capital and Altonomy.

Summary (TL;DR)

  • OpenOcean is a CEX and DEX aggregator.
  • You can swap tokens with the best price and lowest slippage.
  • It allows you to compare pricing between CEXes and DEXes and identify arbitrage opportunities.
  • They offer two trading platforms OpenOcean Classic and OpenOcean Pro
  • OOE is a governance token that provides advantages such as reduced gas fees and slippage subsidies from time to time, voting and participating in the community, and more.
  • They use intelligent routing and machine learning to offer the best rates and the lowest slippage gas fees.
  • They offer extensive customer support.

Why OpenOcean?

Until now, there was no single entry point for crypto trading between CEXes or DEXes. This was due to price comparisons on one website.

Some users prefer DEXes to keep control of their cash. Therefore, they trade smart contracts.

Some users might prefer trading on CEXes due to their liquidity and ability to transact in fiat currencies. Customers without programming skills may not be able to quickly obtain the best pricing due to volatility in prices and differences between exchanges.

OpenOcean allows users to compare the best pricing on DEXes and CEXes.The protocol allows users to trade at the best price on the DEXes or CEXes of their choice using their wallets. OpenOcean accounts allow users to trade on a CEX without the need for a separate CEX account.

OpenOcean Review: Features

In OpenOcean, one can swap at the best price and with the least amount of slippage on the market, arbitrage between DEXes and CEXes, cross-chain swap transactions, and more.

It includes a variety of mainstream DEXes sourced from different public chains. It aggregates spot trading and derivative trading on mainstream CEXes. Cross-chain swap transactions can be supported.

Trading Options

  • Customizes the user interface to ensure that traders don’t miss any important information when trading on DEXes and CEXes.
  • Individual investors are provided with a user-friendly interface to support spot and derivative trades at the best price and with the least amount of slippage.
  • Transaction tools such as limit orders and candlestick chart tools, profit and loss setting, timely monitoring and reminders, and custom APIs with customizable user interfaces that support trading strategies are available.

Arbitrage

OpenOcean helps you in spotting the price difference between CEXes and DEXes and identify the arbitrage opportunity. OpenOcea also has a comprehensive guide to how to arbitrage.

Better liquidity

Integrates liquidity of prominent DEXes or CEXes to provide additional transaction depth and faster response times. Supported are mainstream wallets. OpenOcean wallet and portfolio margin pool allow you to do one-stop transactions on any CEX.

They use intelligent routing and machine-learning to offer the lowest rates and slippage gas fees. They use an optimized version of the Dijkstra Algorithm (D-star) for routing between different protocols.

OpenOcean Classic

It is a user-friendly platform that can be used to swap in DEXes. They can support more token pairs than OpenOcean Pro.

OpenOcean Classic
OpenOcean Classic

OpenOcean Pro

OpenOcean Pro is an advanced platform for swapping and arbitrage. They also support charts. They also support charts.

OpenOcean Pro

OpenOcean Review: API

OpenOcean provides traders and institutions with (APIs) and custom user interfaces to assist their investment strategies. They can connect via API to run their own custom investment strategies.

OOE Token

OOE token is a governance token. OOE token holders will enjoy the following benefits:

  • You can vote and participate in the growth of the community.
  • Reduced gas fee and slippage subsidies from time to time
  • You can be a part of the initial liquidity mining program that will go live on various public chains like ETH, BSC, ONT, TRON, and more. These will include pairs such OOE/ETH and OOE/USDT as well as OOE/DAI. OOE/BNB, OOE/BUSD and more.
  • Use collateral as a margin for lending.
  • If you are a large token holder, you will have exclusive access to VIP CEX services like Taker/Maker fee premiums, trading fee subsidies, token withdrawal fee subsidies. VIP members who hold a certain token quantity have access to the PME product (SAAS), an arbitrage tool for institutional investors, for a limited time.
  • It can be used as a margin in combined margin products to facilitate one-stop derivatives across exchanges.

Centralized Exchanges and Supported Blockchains

OpenOcean supports Binance and will support Deribit soon.

They support the Ethereum Network, Binance smart chain, the Tron network, and the Ontology network. They also plan to support Ethereum Layer 2, Solana and Polkadot.

OpenOcean Review: Supported Wallets

  • ETH

    MetaMask, ONTO, Trustwallet, Mathwallet, BitKeep, SafePal, ImToken, TokenPocket
  • BSC

    MetaMask, ONTO, Trustwallet, BSC Wallet, Mathwallet, BitKeep, SafePal, TokenPocket
  • ONT

    ONTO, Cyano
  • TRON

    TronLink

OpenOcean Review: Fees

OpenOcean doesn’t charge additional protocol transaction fees for DeFi users.

The following four scenarios are subject to a fee:

  • Institutional investors pay for running investment strategy on their custom-made UI.
  • Primary Membership Edition(PME) is an automated SaaS that helps in capturing arbitrage opportunities between CEXes and DEXes.
  • Combined Margin products.
  • Intelligent wealth management service.

OpenOcean Review: Customer Support

OpenOcean provides live chat via their website. You can also reach them via the following social media channels –

To know more about their product, you can also follow them on Medium.

OpenOcean Review: Conclusion

OpenOcean is a CEX and DEX aggregator that offers the best price and lowest slippage for swapping tokens. You will get more transaction depth and faster response times from them by integrating liquidity from major DEXes and CEXes. Arbitrage opportunities can be identified. They also offer OOE governance tokens. Other aggregators present in the market support less no of crypto wallets and public chains.

Frequently Asked Questions (FAQ)

What is OpenOcean?

OpenOcean, a CEX/DEX aggregator, offers the lowest price and slippage for trading tokens. It is a one-stop shop for comparing prices across CEX and DEX https://openocean.finance/and to identify arbitrage opportunities.

Which centralized exchanges do OpenOcean support?

Currently, OpenOcean supports Binance. They plan to support Deribit very soon.

Which blockchains do OpenOcean support?

OpenOcean is a supporter of the Ethereum Network, Binance smart chains, the Tron network and the Ontology network. They also plan to support Ethereum Layer 2, Solana and Polkadot.