What is OpenOcean (OOE)?
In addition to being a complete aggregation protocol, OpenOcean aims to offer cryptocurrency trading services. To be more precise, the OpenOcean aggregation protocol utilizes both CeFi and DeFi markets for its liquidity while providing cross-chain swap functionality. The native token of the protocol is OOE. If you want to see the current OOE price, check out the OpenOcean price chart above.
A cross-chain swap enables the trading of tokens between different blockchains without using intermediaries. As part of the network's vision, a full cryptocurrency aggregator is being developed that facilitates trading to enhance capital efficiency. In order to make OpenOcean's vision a reality, a routing algorithm is employed to determine optimum prices between DEXs and CEXs.
Additionally, OpenOcean offers users API and arbitrage tools that allow them to conduct deals automatically.
Use Cases of OOE Tokens
The OOE tokens have many use cases. Firstly, they can be used to cover gas and trading fees.
Secondly, OpenOcean coins can also be used as collateral when lending tokens.
Moreover, OOE tokens are used to incentivize network users. This includes liquidity provision and trading rewards.
In addition to that, OOE also acts as governance tokens. This means that token holders can vote on various proposals or list these proposals themselves. This includes deciding on the development of new trading pairs and aggregations, protocol enhancements, ecosystem initiatives, new features, and so on. The voting power is proportional to the number of tokens users hold.
Planning to buy OpenOcean crypto assets? Make sure to check the aforementioned OOE price chart before doing that. It will help you to determine the main trends in the OpenOcean price changes.
Tokenomics of OOE
The max supply of OOE is 1 billion tokens. The distribution plan is as follows:
- 2% to airdrops;
- 34% to liquidity mining;
- 29% to protocol development;
- 7% to the ecosystem foundation;
- 10% to investors;
- 18% to team and advisors.
