- OpenOcean has now become the first to integrate Loopring Ethereum Layer 2.
- Ethereum Layer 2 presents a less congested solution.
- OpenOcean is also the first DeFi and CeFi aggregator.
The development is expected to bring along enormous advantages. Specifically, this includes providing users with the best access to liquidity, pricing, and the lowest slippage. Particularly since the existing Ethereum network is facing some congestion, resulting in high gas fees and delays.
In line with the above, Layer 2 presents a less congested solution for OpenOcean users. Furthermore, users will be able to transact without gas fees and delays, but still with Ethereum main chain level security. More so, Ethereum layer 2 solutions enable off-chain transaction handling where computation is less crowded.
In addition, Loopring is the first scalable DEX protocol built with zkRollup, a type of secure Layer 2 scaling solution designed for Ethereum. Loopring exchange, built on top of the Loopring protocol, is a non-custodial Ethereum exchange with a highly performant (super fast, gas-free) AMM & orderbook-based exchange with Ethereum security guarantees.
With the aggregation of Loopring’s Layer 2 orderbook, we can provide the same consistent trading experience as Loopring’s orderbook. On OpenOcean Pro, users can transfer assets to their Layer 2 wallet.
Additionally, OpenOcean does not charge any protocol/trading fees for DEX aggregation. Therefore, OpenOcean is not charging any extra fees on top of the Loopring Layer 2 aggregation.
As a DeFi & CeFi full aggregator, OpenOcean’s first goal is to provide its users with the best price with low fees. This will be achieved through aggregating liquidities from mainstream exchanges on both DeFi and CeFi while applying intelligent algorithms.