With a cross-chain swap platform, users will be able to swap or bridge tokens across major networks, including Ethereum, Polygon and BNB Chain.
OpenOcean, a Web3 decentralized exchange (DEX) aggregator, has launched a cross-chain swap platform.
According to the press release shared on December 21st, the new feature will allow users to swap and bridge assets across Polygon, Ethereum, Avalanche, BNB Chain, Fantom and Arbitrum.
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On top of that, OpenOcean had integrated the Celer Bridge and the Multichain bridge on its platform, which reportedly will help “to provide users with the most competitive rates across all the supported chains.” In the press release, OpenOcean stated:
With the addition of the OpenOcean routing algorithm and bridging-support from partners, the platform will offer the best cross-chain swap returns based on multiple calculations including pricing structure, gas fees, slippage, and different optimized trade routes.”
The company claims that its cross-chain swap mechanism gives OpenOcean a “competitive edge over other DEX aggregators.” The DEX aggregator highlighted that it improved its algorithm and is offering the “deepest liquidity sources in the market.”
OpenOcean claims it supports over 1,100 coins across various chains, allowing users to trade any desired token and move it to the chain of choice.
To use the OpenOcean cross-chain swap platform, customers need to enter the details about “desired tokens and chain, accept the permissions, and the bridge will begin calculating the transaction.” Once the platform calculates the price, the tokens will be sent, and cross-chain transactions will start.
In a blog post shared on December 20th, OpenOcean stated:
It’s our hope that with the cross-chain tool we’ve introduced we will continue to be the best possible platform for customer freedom and value in the DeFi space.”
Based on an OpenOcean press release, the company is backed by Multicoin, Binance Labs, Kinetic and other investors.
