Increasing Interoperable Liquidity Flows: Elrond’s eGold Now Available On OpenOcean
The financial opportunities presented by assets are strongly related to their exposure to capital. A simple example would be the noticeable impact that listing a token on a larger exchange can have on its market value. Platforms that facilitate the connection of more assets to more markets will have a powerful impact on the overall market growth.
This is why we are excited to announce that eGold is available on OpenOcean, a market aggregator that connects CEXs and DEXs to bring assets and liquidity together in a more meaningful way.
“The increased market exposure coming through OpenOcean’s compelling user experience has the potential to broaden the horizon of opportunities for eGold and the Elrond ecosystem” said Beniamin Mincu, Elrond CEO.
OpenOcean is building a platform that enables tokens to be traded against liquidity on multiple chains and exchanges. The platform connects to centralized exchanges like Binance and Coinbase, and to DEXs on Ethereum and Binance Smart Chain such as Uniswap or PancakeSwap. It enables traders to find the best price and lowest slippage on all available CEXs and DEXs, and even arbitrage between them.
The platform is available to users through a common swap interface or a more advanced trading platform-like interface. Applications can integrate with OpenOcean’s APIs and make use of the aggregated liquidity.
The platform is currently integrated with Ethereum, Binance Smart Chain and Ontology. Our ongoing collaboration thus features listing of EGLD BEP20, and will further explore integrating OpenOcean with the Elrond mainnet, making use of the unique performance capabilities of Elrond, that could result in significant product and features enhancements for OpenOcean.
The integration is important because it connects eGold holders to new opportunities and exposes the Elrond ecosystem to more capital.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
OpenOcean is a full aggregator that aggregates mainstream DEXes on public chains and mainstream centralized exchanges. We are helping our users to find the best price and lowest slippage possible on aggregated DEXes and compare the best price on CEXes.