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Friday, February 3, 2023

OpenOcean Is DEX Aggregator that Permits Swapping Cross-Chain across Big Networks

The good news for many users is that they will be permitted to swap assets in many networks like Fantom, Avalanche, Arbitrum, Polygon, BNB Chain, and Ethereum. OpenOcean is a DEX (Decentralized Exchange) aggregator. They have recently made the announcement that this platform will be allowing users to swap cross-chain. This innovative rollout is effective immediately on the OpenOcean platform. 

OpenOcean has also mentioned that they combined the Multichain bridge with the Celer bridge which is going to aid users on supported chains with competitive rates. This DEX aggregator supports more than 1,100 cryptocurrencies over multiple chains. Their latest offer of swapping assets at good rates is based on several calculations like enhanced trade routes, slippage, gas fees, and pricing structure. 

Swapping Cryptocurrencies Through The OpenOcean 

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DEX aggregator is crucial for the ecosystem of cryptocurrencies since they permit users to bridge and swap across many blockchain networks. This system makes the crypto space interoperable and more flexible which is essential to this trading system. 

In addition, a Decentralized exchange aggregator also provides users with access to a larger asset range that may not have been available on a sole blockchain or DEX network. Moreover, they also offer bigger liquidity through means of aggregating liquidity via multiple blockchain networks and DEXs. This makes selling and buying assets a much easier process. 

Advantages Of DEXs, Especially OpenOcean 

In conclusion, it must be noted that DEX aggregator tries to provide their users with more advantages of DEXs in addition to a more user-friendly and convenient experience. Cointelegraph reported on 18th November that the DeFi (decentralized finance) platforms have been continuously garnering profits. This is mainly after the FTX collapse as well as the huge number of exits from the centralized exchanges. 

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As a result, DEX platforms massively gained 24% momentum from these events.

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