30 Blockchains' DEX Aggregator OpenOcean Launches Its OOE Token on Arbitrum

News provided by

05 Mar, 2024, 13:00 GMT

SINGAPORE, March 5, 2024 /PRNewswire/ -- OpenOcean, the widest reaching web3 DEX aggregator & cross-chain aggregator backed by top investors Binance Lab, Multicoin, CMS and more, recently announced its native token - OOE, on the Arbitrum blockchain. This strategic announcement signifies a pivotal moment for the OOE token, bringing enhanced utility and benefits to both the Arbitrum ecosystem and OOE token holders.

30 Blockchains' DEX Aggregator OpenOcean Launches Its OOE Token on Arbitrum

Arbitrum stands out in the DeFi landscape as a top 4 blockchain with $13.35 billion TVL and 45% market share of Layer 2 networks. OpenOcean has supported the Arbitrum ecosystem since late 2021 and till now has accumulated 100k+ active users with over 700m+ swap volume, and has integrated with over 60+ top protocols on Arbitrum including Uniswap, GMX, Camelot, Curve, Trade Joe, etc. This showcases a strong commitment to leveraging Arbitrum's advanced technology & ecosystem. OpenOcean is also among the first batch of protocols on Arbitrum to be awarded S.T.I.P grants.

Introducing OOE on Arbitrum significantly bolsters the OOE token's role within the ecosystem. OOE token stakers can enjoy the gas rebates while trading on Arbitrum along with staking rewards, and participation in governance via OpenOcean Arbitrum DAO. In addition, users can capitalise on a 20% reduction in trading fees for OpenOcean's perpetual trades on Arbitrum.

OpenOcean has been operating safely since 2020, and grown as a notable comprehensive DeFi aggregator. It covers 30+ prominent networks such as Ethereum, Arbitrum, Solana, Bitcoin Layer2, Optimism, Base, Avalanche, BNB Chain, ZKSync, Scroll, Blast, etc. Additionally OpenOcean has fostered a diverse array of services,including gas-free Limit Orders, Cross-chain aggregation, ETH-staking aggregation, perpetual trading options, and API & SDK services, designed to deliver the most efficient on-chain trading experience. Its robust API has been mass adopted by around 100 protocols & partners, including notable ones such as MetaMask, Lido, DeFiLlama, Rabby wallet, cementing OpenOcean as one of the best performing infra providers in web3.

Looking forward, as OpenOcean continues to expand its offerings and enhance the utility of OOE, the deployment of OpenOcean on Arbitrum serves as a foundation for future ecosystem growth.