Open Ocean is a leading CeFi and DeFi full aggregation protocol that has announced the successful aggregation of Arbitrum and its top decentralized exchanges which are Balancer v2, UniSwap v3, DODO, Swapr and Synapse. This will allow Open Ocean users to trade with high returns on various Ethereum layer two constructions.
Cindy Wu, the Co-founder of OpenOcean, said:
On the one hand, we know our users are trading on Ethereum and have been requesting us to aggregate more Layer-2 solutions to access cost-efficient and fast trading while still being in the Ethereum ecosystem. On the other hand, we also know that some of our users have been hesitant or directly reluctant to trade on Ethereum due to the cost. With the Arbitrum aggregation, we mash two potatoes with one fork and our users can swap around the trading universe with one-stop trading on OpenOcean”
Arbitrum, is a Layer-2 scaling solution built on Ethereum that has recently acquired serious allegiance from key players and a steady rise in total value locked (TVL).
The network was created using a roll-up technology that carries out transactions on layer 2 and presents the data to Layer 1. Its DeFi encounter is similar to Layer 1 but with lower transaction costs than Ethereum.
OpenOcean is an important part of Web3, giving its users high returns on decentralized assets on several networks without additional costs. The aggregation of the Layer 2 creation creates a chance to reduce the high fees users end pay on Ethereum due to network congestion.
Arbitrum has a great team, technology and a timely launch making it an irrefutable Layer 2 leader with over 40% market share of Layer 2 TVL. It also has the highest number of clients amongst Ethereum’s Layer-2 creations.
Web3 and other blockchain projects have attracted funding worth over $21 billion by the end of November and have attracted a significant number of top executives from established tech companies such as the recent hiring of Brian Roberts as OpenSea’s CFO.
Brian is a tech veteran whose immediate former role was CFO of Lyft Inc., a role he had served in for seven years. He said the growth potential for NFTs and Web3 companies was much higher than that of Web2 tech companies such as Lyft.