DEX Aggregator OpenOcean Integrates with Solana Network
The Solana network has added OpenOcean, an aggregation protocol that spans centralized (CeFi) and decentralized finance (DeFi). Users will be able to trade the prominent Solana network tokens, such as the native SOL, at the best price with the least amount of slippage.
OpenOcean has recently come to popularity as among the most widely used crypto aggregation protocols, combining the best aspects of the CeFi and DeFi worlds. It uses many of the world’s most widely used blockchain covenant. The Ethereum blockchain, Ethereum Layer 2, Ontology, TRON, and the rapidly growing Binance Smart Chain are among them (BSC).
The aggregator announced on May 28 that it is now extending to Solana. The high level of interest from the Solana group was recognized as the driving force behind the recent incorporation.
After receiving a massive number of requests from our community, including over 14,000 votes via Twitter to aggregate Solana, we are pleased to announce that OpenOcean has now expanded to the Solana network!
OpenOcean will offer a flexible platform that will integrate all DEX trading chances for Solana and locate the best possibilities for traders without any third party intervention. Traders will have access to SOL, the native token, along with RAY, FIDA, SRM, and OXY, which are all part of the Solana ecosystem. Traders who use the platform will have a one-stop option that eliminates the requirement to jump from one DEX to the next in order to get the decent swap rate.
The connection will give the Solana ecosystem, which has been rapidly expanding in recent months, even another alternative. Because of its low costs and fast transaction processing, the Solana blockchain has managed to attract more coders. The network claims to be capable of processing 50,000 transactions per second, which is close to touching the capabilities of Visa, one of the nation’s biggest payment networks.
DeFi has exploded in popularity in the last year, with the most of it centered on Ethereum. Nevertheless, more ventures are opting for less expensive, more efficient, and speedier alternatives. One of the most serious possibilities has been Solana. As a consequence, various initiatives have popped up in the Solana network in the last year, drawing not only a large number of users, but even some of the best known investors.
DeFi Alliance, an innovation accelerator, recently supported Mercurial Finance, its foremost Solana venture. The Alliance, whose mentors include firms like Coinbase, put $100,000 toward the initiative. Huobi, OKEx, the Solana Ecosystem Fund, and Alameda Research are among Mercurial’s other investors.