OpenOcean’s integration on Li.Finance
Hello there, friends !
It’s another day, another opportunity to explore the depths and ride the waves of OpenOcean. The OpenOcean team has a lot in store for its users this year and they have already been dishing out a lot of updates. For those unfamiliar with the beauty that is OpenOcean, I’ll give you a short introduction.
OpenOcean is a full option crypto trading aggregation protocol that supports cross-chain swaps. It obtains liquidity from both DEXs and CEXs and determines the best way for users to execute their trades. OpenOcean believes that everyone, whether a small individual investor or a large institution, should be able to trade at the best prices and apply their own investment strategies to various crypto asset classes. That is why they go over and beyond to make this come to pass. Some of the features that make OpenOcean the best option include:
• OpenOcean assists users in locating the best cross-chain trade rates across more than 10 blockchain networks, 50+ DEXs, and CEXs.
• Through its optimized algorithm, OpenOcean also provides users with high trading efficiency, resulting in less slippage, better rates, faster response times, and optimized routes with lower gas fees costs.
• OpenOcean takes a security-first approach to protect users from security vulnerabilities and other occurrences. In addition to internal security auditing, they routinely collaborate with external partners to pass the most recent and leading industry standards.
It’s for these reasons and more that Li.Finance has integrated OpenOcean ! Yes, you read that right. With this collaboration, OpenOcean will serve as a new means for cross-chain swaps on LiFi to be conducted.
Much as the 'Li' in Li.Finance is a shortened form of the word 'linked, Li.Finance’s goal is to aggregate and abstract the most crucial bridges and connect them to DEXes and DEX aggregators on each chain to enable cross-chain any-to-any swaps. They believe that in the future, users should not be concerned with which chain they are on when they visit a dApp. Newcomers to the crypto space should not have to learn how to swap or move funds using DEXes and bridges.
That is why they have made it their mission to abstract these things and make it simple for developers to allow users to come from anywhere.
Li.Finance basically enables users to swap any asset from any chain directly into the required asset on the dApp they are using.
Some of the benefits OpenOcean gains from the integration with Li.Finance include:
• To save as much gas and fees as possible, Li.algorithm Finance’s uses all available bridges, DEXes, and DEX aggregators and pairs, splits, and handles transactions as needed.
• You can also use LiFi’s Smart Routing API to whitelist, blacklist, and prioritize specific DEXs, aggregators, or bridging solutions based on your own interests and needs.
• It takes a tremendous amount of effort to keep track of protocol and SDK updates, manage dependencies, recognize and evaluate new bridges, and consider a plethora of other factors in order to keep the system maintained, optimized, and secure. More than half of the current bridge builders in the dApp ecosystem have invested in the Li.Finance project to streamline the process even further. By joining with Li.Finance, OpenOcean is secure in the knowledge that they are receiving the best service possible.
OpenOcean has been integrated on Li.Finance and with this collaboration, a number of amazing benefits will be gained. It’s truly a great time to be associated with OpenOcean so if you aren’t a user yet, what are you waiting for ?!