KuCoin AMA with OpenOcean — First CeDeFi Aggregator Providing the Best Swap Return

2021/11/02 10:13:14

Dear KuCoin Users,

Time: October 19, 2021, 11:00-11:57 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with Mathias, Global Marketing Strategy of OpenOcean, in the KuCoin Exchange Group.

Project Introduction

OpenOcean is the world's first DeFi and CeFi full aggregator, providing you the best returns across decentralized and centralized exchanges with top trading efficiency. As a one-stop trading entrance, they have aggregated major DEXes across public chains, including Ethereum and Layer 2, Binance Smart Chain, Avalanche, Polygon, Solana, Fantom, HECO, TRON, Ontology, and CEX (Binance). OpenOcean will continue to support cross-chain swaps via bridges and cross-chain protocols and aggregate more DeFi and CeFi products, such as derivatives, and launch intelligent management services.

Official Website: https://openocean.finance

Follow OpenOcean on Twitter and Telegram.


Mathias — Global Marketing Strategy of OpenOcean

Mathias has more than 4 years of professional experience with top-tier public blockchain projects taking on technical and commercial responsibilities. He has an educational background in mechanical engineering and finance. Mathias has been a crypto investor since 2014.

Q&A from KuCoin

Q: Please introduce yourself and tell us how and why you got into crypto?

Mathias: I first came across blockchain/crypto in 2014 and haven’t been doing anything else since - I love it!

At first, I was very interested in applying blockchain to various use cases across industries such as shipping and pharmaceuticals. Also, I started to invest in crypto at that time because I liked the idea of having 100% control over my own assets without middlemen.

Later on, public chains, tokenomics, and DeFi fascinated me, which I’m also currently working with! Previously, I’ve been working with top-tier public blockchain projects taking on technical and commercial responsibilities.

Q: Tell us about OpenOcean!

Mathias: 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, Binance Smart Chain, Avalanche, Fantom, Polygon, Solana, HECO, TRON, OKExChain, Ontology, and a CEX (Binance).

OpenOcean will continue to support cross-chain swaps with the best price via bridges and cross-chain protocols and aggregate more DeFi and CeFi products.

We are already working on decentralized derivative aggregation with solutions such as one-stop derivative trading on OpenOcean, supporting users to trade with the best future price with algorithm and split routes, spread tradings, combined margin products, spot/derivative arbitrage and assisting CTA strategies.

Intelligent wealth management services come along with derivative aggregation.

Q: We noticed the OpenOcean Atlantic version pre-announcement. Could you tell us a bit more about that?

Mathias: Yes, of course!

OpenOcean has already set sail for the Atlantic Ocean upgrade, which will land you maximum returns with an optimized algorithm.

According to testing, OpenOcean Atlantic is better than other leading DEX aggregators in 60% of the cases.

I’m happy to share that the official upgrade and announcement will be out in approximately four hours from now!!! Stay tuned.

OpenOcean Atlantic will provide users with superior algorithm and protocol upgrades to optimize trading for the best returns based on multiple parameters, including better price, lower gas fee, lower slippage, and optimized routing to maximize final returns.

This means that you do not need to worry about the tradeoff between the best price from using multiple routes and the higher gas fees that may come with it — OpenOcean Atlantic considers everything and offers you the best solution to get you the most out of each swap.

On top of that, the intelligent routing algorithm will be upgraded to provide faster response times, and the OpenOcean front page will be upgraded to help you better understand our products and roadmap.

Additional liquidity sources such as new DEXes and trading pairs will be aggregated to support lower prices and more choices.

Q: With the new upgrade, how do you gain an additional edge over other leading DEX aggregators?

Mathias: OpenOcean is the world’s first and leading CeFi and DeFi full aggregator for crypto trading. This means that we aggregate both decentralized and centralized exchanges, which none of the other ones do.

Besides that, we will work on the aggregation of derivatives, yield-generation, lending, insurance products as well on both DeFi and CeFi, and to launch our own combined margin products and intelligent wealth management products.

We have done some testing on the new OpenOcean Atlantic version, which shows that it delivers better returns in 60% cases compared to other leading DEX aggregators.

After all, the cornerstone of OpenOcean has always been to help users get the best trade on digital assets across multiple networks without charging additional fees. So this is very important to us.

Q: Tell us about the OOE token!

Mathias: OOE is the governance token and utility token of OpenOcean.Finance that enables the community to make use of the token within the OpenOcean platform for trading functions and services, supply liquidity, and participate in voting.

We are working on new products and services that will be accessible based on OOE holdings.

The OOE token’s utility is reflected in the incentives that holders benefit from when spending and deploying in the OpenOcean trading aggregation platform.

OOE is a multichain token that is minted on Ethereum as an ERC-20 with a fixed supply of 1,000,000,000 (one billion) tokens.

Besides the 2% of the total OOE supply for our lovely early users, including the wallet campaign winners, 33% of OOE is allocated to liquidity mining, 29% for OpenOcean Lab to support further protocol development and ecosystem building, 16% for the team and advisors, 7% for ecosystem foundation and the rest 13% is for our investors.

You can find the full documentation here: https://docs.openocean.finance/ooe-token

Q: What is the main problem that OpenOcean solves?

Mathias: Today's crypto markets are fragmented, have asymmetric information, and make trading inefficient when trading across various exchanges and public chains.

The many automated market-making exchanges are siloed from each other and have little interoperability.

This forces traders to search for deep liquidity and deploy funds across different protocols and blockchains or carry the consequence of slippage and partial fills.

The OpenOcean team developed the protocol of OpenOcean.Finance to provide symmetric information and best price to users in the fragmented market and offer one-stop entrance for users to increase efficiency in trading.

Q: What can we expect from OpenOcean in the future?

Mathias: We are constantly looking to achieve innovation and breakthroughs by researching and developing new techniques and algorithm optimizations to ensure OpenOcean users always receive the best possible rates when trading.

To improve the spot trading experience for all, cross-chain swaps, limit orders, grid trading, and stop losses are coming soon.

We are also building products to support the aggregation of on-chain derivatives and act as a one-stop-shop for derivatives traders.

Also in the works is a combined margin product to allow for lower margin trading and enable greater capital efficiency for margin traders.

Free-Ask from KuCoin Community

Q: Do your tokens have farming and staking usages, and if yes, what APR do you give to us?

Mathias: Yes, we do have Farming and Staking. We call it Farms and Vaults. Currently, we have Farms on BSC and Vault on Avalanche. You can check it out here (remember to select the correct network and connect wallet):



Q: What is the background of your project team? Do you think the team's qualifications and experience are able to support the long-term development of the project?

Mathias: Our team was set up in Singapore, and our first version, the Antarctic version, was launched in September 2020. Our technical team are experienced engineers and financial veterans from leading financial and IT corporations like IBM, RBS, Intel, and HP.

Combined, we have previous experience with the development and maintenance of public chains and exchange core products. We have supported the development and design of the world’s top ten public chains and top-tier global exchanges.

Q: How can I buy these tokens? Is it available on any exchange?

Mathias: OOE is tradable on several DEX and CEXes. If you are a KuCoin fan, I would recommend trading it on KuCoin.

Q: Can you give an overview of your tokenomics and the utility of your tokens?

Mathias: The utility includes gas fee and slippage subsidies for token holders, liquidity mining, VIP membership that offers access to DeFi and CeFi automated arbitrage tools and trading fee deduction, derivatives combined margin, and collateral as margin for lending. The token also lets the holder participate in governance, e.g., voting.

You can find more here: https://docs.openocean.finance/ooe-token

Q: Do you have an ambassador program available? If yes, how can I join it? And can you tell us what the benefits are available for the ambassador?

Mathias: We are currently recruiting new ambassadors. Please apply! You can find all the info here: https://openocean.finance/ambassador-program

Q: Is your project only for elite investors? What about others with small funds? Is it open to everyone?

Mathias: This is our investors. Besides that, we held IDO with PolkaStarter and SHO with DAOMaker. So we have a good mix of big investors and individuals.

Q: Is there anything else you would like to share or you want us to know?

Mathias: Yes!

It's always a pleasure to be with the KuCoin community.

I hope you enjoyed it.

And please take a look at https://openocean.finance


Giveaway Section

KuCoin and OpenOcean have prepared a total of 3,000 OOE to give away to AMA participants.

1. Free-ask section: 125 OOE

2. Quiz: 2,250 OOE

3. OOE/USDT Trading: 625 OOE

. . .

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