DeFi and CeFi Aggregator OpenOcean Integrates Avalanche to Enhance Liquidity
Leading DeFi and CeFi aggregator OpenOcean has continued to expand its ecosystem and has just recently integrated Avalanche, a high-scalable and open-source platform for launching decentralized finance apps.
In a Monday press release shared with CryptoPotato, OpenOcean noted that its integration with Avalanche will allow its users to swap different digital assets utilizing the best prices available in the market, with minimal risks of slippage.
OpenOcean Partners With Avalanche-based DEXs
To ensure that its users get an enhanced trading experience on Avalanche, OpenOcean has partnered with mainstream decentralized exchanges (DEXs), employing the former’s platform. Those include Trader Joe and Pangolin, and the goal is to provide customers with the highest level of liquidity.
The additional liquidity will go a long way to reducing the trading fees users have to pay since OpenOcean’s intelligent routing system will now have a variety of options to choose from.
The DeFi and CeFi aggregator has been recording immense growth ever since its launch back in September 2020. The platform currently has over 270,000 active unique addresses and has processed more than 970,000 transactions worth $2.1 billion.
By integrating Avalanche, OpenOcean has joined the list of top projects building on one of the fastest-growing blockchains, including the likes of SushiSwap, Chainlink, Circle, and The Graph.
Speaking on the development, OpenOcean’s co-founder, Cindy Ng, said:
“After over 10,000 of our OpenOcean community voted for an Avalanche aggregation, we listened. Given Avalanche’s highly-esteemed reputation within DeFi circles and high-quality protocol, this integration was a no-brainer for OpenOcean.
The Avalanche protocol and community stay true to the core values of DeFi. This partnership can help fulfill our vision to integrate DeFi’s most useful and most secured ecosystems.”
OpenOcean to Launch Cross-chain Aggregations
Last week, Avalanche rolled out the Avalanche Bridge (AB), a unique feature that allows users to seamlessly transfer supported ERC-20 tokens between Avalanche and Ethereum.
OpenOcean has also added support for the bridge, and it will enable its users to trade Avalanche’s native token, AVAX, at the best rates.
The platform also revealed its intentions to launch cross-chain aggregations to enable users to swap and transfer assets across Avalanche and Ethereum with low slippage using the bridge.
