OpenOcean PriceOOEInactive

What is OpenOcean (OOE)?

OpenOcean (OOE) is the native token of OpenOcean, a multi-chain decentralized exchange (DEX) aggregator and cross-chain swap aggregator. The project positions itself as a leading aggregation protocol for cryptocurrency trading, designed to deliver the best swap returns through intelligent routing across most chains. Powered by a self-developed intelligent algorithm, OpenOcean splits routes across various liquidity pools and optimizes swap returns by taking price, slippage, and costs into total consideration. The platform also functions as a DeFi middleware provider, offering robust APIs for swaps, DCA, limit orders, and meme trading, enabling dApps and developers to integrate advanced trading functionalities seamlessly. The OOE token has a total and maximum supply of 1,000,000,000 tokens. OpenOcean has been operating safely since 2020 and launched its token in 2021. The project is backed by notable investors and has expanded its token deployment across multiple chains, including BNB Smart Chain, Arbitrum One, and Ethereum.

Key Specifications & Tokenomics

• Name: OpenOcean
• Symbol / Ticker: OOE
• Consensus: Not applicable (multi-chain aggregator token)
• Smart Contracts: BNB Smart Chain (BEP20), Arbitrum One (ERC-20), Ethereum (ERC-20)
• Contract Address (Arbitrum One, ERC-20): 0xdcbf4cb83d27c408b30dd7f39bfcabd7176b1ba3
• Contract Address (Ethereum, ERC-20): 0x7778360f035c589fce2f4ea5786cbd8b36e5396b
• Category: DEX Aggregator, Cross-Chain Swap Aggregator, DeFi Middleware
• Total Supply: 1,000,000,000 OOE
• Max Supply: 1,000,000,000 OOE
• Self-reported Circulating Supply: 574,525,932 OOE
• Launch Date: 2021
• Official Website: https://openocean.finance/
• Whitepaper / Documentation: https://docs.openocean.finance/

Who created OpenOcean?

Detailed public information about the founding team and individual creators of OpenOcean is currently limited in available references. What is known is that the project is backed by top investors including Binance Lab, Multicoin, and CMS. OpenOcean has been operating safely since 2020, demonstrating a sustained track record in the DeFi space. The project has also received support from the Arbitrum ecosystem, being among the first batch of protocols on Arbitrum to be awarded S.T.I.P grants. While the identities of the core team members are not extensively documented in the available materials, the project's backing by established venture entities and its integration with major protocols suggest a credible development team. Additional information about the team may be available through the project's official documentation and community channels.

How does OpenOcean work?

OpenOcean operates as a DEX aggregator and cross-chain swap aggregator that connects users to over 1,000 liquidity sources across more than 40 chains. The aggregation pipeline follows four core steps: Aggregate, where the system connects to numerous liquidity sources; Route, where it computes the optimal swap path; Quote, where it returns the best price and calldata; and Execute, where the user signs and broadcasts the transaction. The integration flow involves calling Quote to get the best route, then Swap to get the transaction body, after which the app or user signs and broadcasts. OpenOcean's smart order routing provides optimal path and pricing with automatic split routes and multi-hop when beneficial. It supports both EVM and non-EVM chains, including Ethereum, BNB Chain, Arbitrum, Solana, and Sui. The platform is non-custodial, meaning it never custodies funds, and all transactions are signed by users. Key metrics from API documentation include 40+ chains, 1,000+ liquidity sources, 500+ DEXs integrated, and 99.9% uptime.

What makes OpenOcean unique and valuable?

OpenOcean distinguishes itself through several key features. Its multi-chain aggregation capability provides one API for 40+ chains and 1,000+ liquidity sources, eliminating the need for per-DEX integrations. The intelligent routing algorithm finds the best price and lowest slippage for traders across centralized and decentralized exchanges with no additional fees. The platform offers deep liquidity access to major sources including Uniswap, Balancer, PancakeSwap, Curve, RFQ, and private liquidity. Developer-friendly tools such as REST API, SDK, and Widget with clear documentation make integration seamless for dApps and developers. OpenOcean's non-custodial design ensures users maintain control of their funds at all times. Additionally, the platform provides a range of services including gas-free limit orders, cross-chain aggregation, ETH-staking aggregation, perpetual trading options, and API & SDK services. The robust API has been mass adopted by around 100 protocols and partners, including notable ones such as MetaMask, Lido, DeFiLlama, and Rabby wallet.

What is OpenOcean used for?

The OOE token serves multiple utility functions within the OpenOcean ecosystem. According to the Arbitrum launch announcement, OOE token stakers can enjoy gas rebates while trading on Arbitrum along with staking rewards. Token holders can participate in governance via the OpenOcean Arbitrum DAO, giving them a voice in the platform's development and decision-making processes. Users can also capitalize on a 20% reduction in trading fees for OpenOcean's perpetual trades on Arbitrum. Beyond these specific utilities, OOE functions as the native asset that aligns incentives among traders, stakers, and ecosystem participants. The token is integral to the platform's aggregation services, which include swaps, DCA, limit orders, and meme trading. As OpenOcean continues to expand its multi-chain presence, the OOE token is positioned to play a central role in facilitating efficient on-chain trading experiences across supported networks.

How Is the OpenOcean ecosystem developing?

The OpenOcean ecosystem has been steadily developing since its inception. The platform has supported the Arbitrum ecosystem since late 2021, accumulating over 100,000 active users and more than 700 million in swap volume on Arbitrum. It has integrated with over 60 top protocols on Arbitrum, including Uniswap, GMX, Camelot, Curve, and Trade Joe. OpenOcean was among the first batch of protocols on Arbitrum to be awarded S.T.I.P grants. The project supports more than 30 prominent networks including Ethereum, Arbitrum, Solana, Bitcoin Layer2, Optimism, Base, Avalanche, BNB Chain, ZKSync, Scroll, and Blast. The API has been adopted by approximately 100 protocols and partners, including MetaMask, Lido, DeFiLlama, and Rabby wallet. On March 5, 2024, OpenOcean announced its native token OOE on the Arbitrum blockchain, marking a pivotal moment for the token and bringing enhanced utility to both the Arbitrum ecosystem and OOE token holders. The project continues to expand its chain support and integration network.

How to mine OpenOcean?

OpenOcean (OOE) is not a mineable cryptocurrency in the traditional sense, as it operates as a multi-chain aggregator token rather than a proof-of-work blockchain. Instead of mining, users can participate in the ecosystem through staking mechanisms. OOE token stakers can earn staking rewards while enjoying gas rebates when trading on Arbitrum. The staking model incentivizes long-term holding and active participation in the ecosystem. Additionally, users can engage with the platform's various services, such as providing liquidity or utilizing the aggregation services, which may offer additional opportunities for earning rewards. The OpenOcean Arbitrum DAO also allows token holders to participate in governance, further aligning incentives among stakeholders. For specific details on staking procedures, reward rates, and eligibility requirements, users should consult the official OpenOcean documentation and platform announcements.

How to keep your OpenOcean Coin safe?

Keeping your OpenOcean (OOE) tokens safe requires adherence to standard cryptocurrency security practices. Since OpenOcean is a non-custodial platform that never custodies funds, users are solely responsible for the security of their assets. Use reputable wallets that support the networks on which OOE is deployed, including BNB Smart Chain, Arbitrum One, and Ethereum. Hardware wallets provide an additional layer of security by keeping private keys offline. Always verify contract addresses before interacting with any token, and be cautious of phishing attempts and fake websites. Enable two-factor authentication where available and never share your private keys or seed phrases with anyone. When using DeFi services, ensure you are interacting with official OpenOcean platforms and verified smart contracts. Regularly update your wallet software and stay informed about security best practices. Consider using separate wallets for different purposes to minimize risk exposure, and always double-check transaction details before signing.