OpenOcean’s Integration with Terra
Hello friends !
If you’ve been monitoring the OpenOcean channels, you must have noticed the exciting activities that OpenOcean has been involved in. It has been a whirlwind of events since OpenOcean’s initial launch in September of 2020 and the past few days of the new year 2022 have not been disappointing in anyway. At this very moment, OpenOcean boasts a huge number of networks being aggregated on their platform (almost double the size of their closest competitor) with about 70 liquidity sources. They even have as much as 395 thousand individuals with active addresses that trade frequently on the platform. All in all, OpenOcean has been doing really well for themselves.
The latest news is that OpenOcean has added Terra as the newest member to the team ! That’s right, Terra has been aggregated on OpenOcean along with Terraswap and Loop Finance (its top DEXes) making OpenOcean the first CEX and DEX aggregator partner to be launched on Terra ! This move was initiated based on the requests from community members and has been in the works for quite some time, a move to make sure that every member of the OpenOcean community gets to receive the best experience and returns when they use the platform.
What is Terra about ?
Terra is the most popular and effective decentralized and open-source public blockchain protocol for algorithmic stablecoins. The Terra protocol generates stablecoins that track the price of any fiat currency using a blend of open market arbitrage incentives and decentralized oracle voting. Terra stablecoins can be spent, saved, traded, or exchanged instantly on the Terra blockchain.
The Terra ecosystem is a growing network of decentralized applications that is increasing the price of Luna while creating stable demand for Terra. Luna grants its holders staking rewards as well as governance power. Terra makes it possible for users to spend, save, and stake like never before thanks to its set of algorithmic decentralized stablecoins that are the foundation upon which their ecosystem grows, bringing DeFi to everyone. The network has witnessed significant expansion across all performance measures, outpacing most other top public blockchains, resulting in $20 billion or more TVL so far.
Users of OpenOcean can now trade maximum returns on Terra-based assets thanks to this integration. These trades will be carried out by OpenOcean’s second version, the OpenOcean Atlantic, which will provide users with a completely unique algorithm optimized for maximum returns.
In conclusion,
OpenOcean has aggregated Terra on its platform, another step towards offering its users maximum returns during trading. This will be possible because of Terra’s algorithmic decentralized stablecoins. They will also be in conjunction with Terraswap and Loop Finance, both DEXes of Terra.
About OpenOcean
OpenOcean is the world’s first DeFi and CeFi full aggregator. OpenOcean’s intelligent routing algorithm finds the best price and low slippage for traders across centralized and decentralized exchanges with no additional fees. As a one-stop trading entrance, we have aggregated major DEXes across public chains, including Ethereum and Layer 2, Arbitrum, BoBa, Binance Smart Chain, Avalanche, Fantom, Polygon, Solana, Terra, Gnosis (formerly xDai), HECO, TRON, Ontology, and a CEX (Binance). OpenOcean will continue to support cross-chain swaps via bridges and cross-chain protocols, aggregate more DeFi and CeFi products, and launch intelligent management services.