OpenOcean is a comprehensive aggregator for both DeFi and CeFi. It aims to locate the most favorable prices without any extra charges and minimize slippage for traders. OpenOcean achieves this through the application of a highly refined intelligent routing algorithm.
Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (OOE/USDT – Trade it here) on the Innovation Zone! Check it out now!
Understanding All About OpenOcean
OpenOcean is an exceptionally efficient DEX aggregator protocol for crypto trading. It sources liquidity from DeFi markets and facilitates cross-chain swaps. Using an intelligent routing algorithm, they seek out the most favorable prices on various DEXes. It also carefully split the routes to offer traders the best possible prices, all while minimizing slippage and ensuring swift settlement.
Furthermore, their platform is free to use. OpenOcean users are only responsible for paying the standard blockchain gas and exchange fees associated with their trades, which are levied by the respective exchanges and not by OpenOcean.
How Does OpenOcean Protocol Work?
The OpenOcean protocol comprises public smart contracts deployed on each supported public chain, along with proprietary technology like discovery and routing algorithms. Notably, OpenOcean harnesses an optimized variant of the Dijkstra algorithm, known as D-star, which intelligently divides routing across different protocols. This approach enhances transaction rates. It also ensures that users secure the most favorable market prices while incurring lower gas costs and reduced slippage.
Here’s a breakdown of the key components and functionalities of the OpenOcean protocol:
- Optimizing Algorithm: OpenOcean employs an optimization algorithm based on Dijkstra and D-star to determine the initial best route for transactions.
- Route Optimization through Machine Learning: Routes are further optimized using machine learning techniques based on platform data, continuously improving efficiency.
- Best Price Comparison: The platform offers users the best available prices by comparing prices across aggregated DEXes to secure optimal deals.
- User Interest Protection: OpenOcean safeguards user interests by subsidizing slippage losses through the use of OOE tokens.
- Transparent Pricing: The protocol adheres to transparent pricing mechanisms, refraining from imposing additional transaction fees.
The public smart contracts facilitate transactions between users and exchanges through an API. It is accessible via the OpenOcean interface or the user’s own API setup. These contracts encompass various inner contracts, each responsible for specific functions such as swapping, providing price quotes, routing, calculation, optimization, and communication with the algorithms.
What is The Use Case of OOE Token?
OOE token serves a dual purpose as both the governance and utility token for OpenOcean. It provides functionality to users of the protocol and offers the community an opportunity to actively participate in its governance. Holders of the governance token have the ability to influence the protocol’s direction by proposing ideas and participating in votes related to protocol parameters, as well as future DEX and chain aggregations.
Where to buy OOE Token
You can find OOE Token here at MEXC! We are listing OOE/USDT in our Innovation Zone!
What is the Price of OOE Tokens?
The OOE Token is currently trading at MEXC with a live price of $0.01015. You can check the live price of their token right here!
How to buy OOE Tokens on MEXC
You can buy OOE Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “OOE” using the search bar to see the available trading pairs. Take OOE/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of OOE you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy OOE] to confirm your order. You will find the purchased OOE in your Spot Wallet.
You can find a detailed guide on how to buy OOE Tokens here.
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