CeFi And DeFi Aggregator OpenOcean Integrates Avalanche To Expand Liquidity

OpenOcean, a prominent aggregator of CeFi (centralized-finance) and DeFi (decentralized-finance), has continuously kept on spreading its structure, and just recently, Avalanche has been incorporated by it, which is a top-scalable as well as an open-source smart-contracts platform to launch the applications related to decentralized finance. In a press release of Monday, OpenOcean mentioned that this integration would permit the consumers of the firm to swap between several digital assets by using the most suitable prices within the market and having the least risks of loss.

OpenOcean collaborates with DEXs, which are based on Avalanche

To guarantee that its consumers are provided with advanced trading experience through Avalanche, a collaboration has been made between OpenOcean and the well-known DEXs (decentralized exchanges) utilizing the previous platform. Pangolin and Trader are included in them to provide liquidity at its maximum level. The extra liquidity will reduce the trading costs to a great extent due to the brilliant system of OpenOcean, which will give several options for selection. The Aggregator of CeFi and DeFi has been witnessing massive growth at the highest level since the launch of the firm during 2020’s September. Presently, more than 270,000 distinctive addresses are working under the platform, and nearly 970,000 transactions valuing over $2.1 billion have been processed by the network.

A series of famous projects has also been joined by OpenOcean following the integration of Avalanche. Graph, Circle, Chainlink, and SushiSwap are included in them. Cindy Ng, the co-founder of OpenOcean, discussed the development of the platform by stating that they decided about this move after the firm’s 10,000 users voted in favour of Avalanche aggregation. She added that the integrated platform is highly reputed among the DeFi spheres; thus, the move is much beneficial for the company.

She further explained that the community and protocol of Avalanche are honestly observing the fundamental values of decentralized finance. The collaboration can assist in achieving the target of integrating the most secured and most advantageous ecosystems.

OpenOcean to release cross-chain aggregators

In the last week, the Avalanche-Bridge (an exclusive feature allowing customers to impeccably transfer acquainted ERC-20 tokens among Ethereum and Avalanche) has been released by Avalanche. Support relating to the bridge is also incorporated by OpenOcean, which will permit the clients to trade AVAX (the native token of Avalanche) at the most suitable rates. The firm has also disclosed that it intends to release cross-chain aggregations that will deliver the users an ability to transfer and swap assets between Ethereum and Avalanche.

Isacco Genovesi

Author: Isacco Genovesi

Isacco writes news articles, reviews and guides about cryptocurrencies including technical analysis, blockchain events, coin prices marketcap and detailed reviews on crypto exchanges and trading platforms.

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