OpenOcean Adds Loopring ZK Rollups To Offer Aggregating Services on Ethereum L2
OpenOcean is an astute aggregator protocol that offers traders the necessary data to make rational decisions in their investment actions. It is sought after because it aggregates the prices, slippage levels and other data from different centralized and decentralized exchanges, as well as chains. With the data offered, traders do not have to use multiple protocols before they can have access to crucial trading data. Everything can be gotten right in OpenOcean. Traders can get data from the major chains like Solana, Ethereum, Binance Smart Chain, Polygon, Tron and so on.
This protocol is the first ever aggregator on Ethereum layer-2 because it added the ZK Rollup solution, Loopring into its ecosystem. With this incorporation of Loopring, trades will have access to incredibly low transaction fees and extremely quick settlement time. Scalability and affordability have become common in this ecosystem with this addition.
It is different from existing settlement sequencing, as every transaction that occurs in OpenOcean will be rolled up off-chain in a private and secure manner before it is verified on the main layer.
Everyone can use the features that OpenOcean offers because it is a platform that makes it easy for people to do rapid crypto trading by pooling liquidity from centralized and decentralized exchanges.
With the innovations that OpenOcean offers, traders can bask in low level of slippage, as well as high liquidity and better prices. All these are feasible with the D-star solution, the better version of the Dijkstra algorithm.
The D-star innovation has the duty of splitting the routing to varying decentralized finance platforms, checks the different rates and offers them to the user. It won’t stop there because in the future a bridge that links the liquidity of decentralized finance platforms to that of centralized finance will be available in OpenOcean. It is not news that centralized finance platforms tend to have more liquidity compared to their decentralized counterparts.
At the moment, this ecosystem can gather data from top Layer-1 and Layer-2 platforms, like Ethereum, Ethereum Layer-2, Tron, Ontology, and Binance Smart Chain (BSC), Polkadot, Matic and Solana. Binance exchange is not left out of the mix.
One reason that OpenOcean decided to embrace Layer-2 technology is to reduce the transaction costs that users have to pay, while improving the speed of settlements. All these have been done without security being reduced.
Loopring is a decentralized exchange that is supported by the Layer-2 network, thereby offering decentralized trading to traders.
