OpenOcean
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Did a $131K USDR Swap End in Disaster Amid Liquidity Crisis? 🤯
In an attempt to withdraw #USDR stablecoins during a liquidity crisis on October 11, a trader swapped 131,350 USDR for 0 USDC, resulting in a total loss.
This incident occurred on the BNB Chain through the decentralized exchange #OpenOcean when USDR's value depegged by nearly 50%.
A bot took advantage of the situation, making $107,002 in profits through arbitrage. Liquidity issues in DEXs can lead to high slippage, as seen in a previous incident in September 2022.
USDR's #depegging on October 11 was triggered by user redemptions, as only a small portion of its assets were backed by liquid tokens. Tokenized real-estate assets and ERC-721 standard hindered liquidity, causing a collapse in investor confidence.
#Binance
#crypto2023
In an attempt to withdraw #USDR stablecoins during a liquidity crisis on October 11, a trader swapped 131,350 USDR for 0 USDC, resulting in a total loss.
This incident occurred on the BNB Chain through the decentralized exchange #OpenOcean when USDR's value depegged by nearly 50%.
A bot took advantage of the situation, making $107,002 in profits through arbitrage. Liquidity issues in DEXs can lead to high slippage, as seen in a previous incident in September 2022.
USDR's #depegging on October 11 was triggered by user redemptions, as only a small portion of its assets were backed by liquid tokens. Tokenized real-estate assets and ERC-721 standard hindered liquidity, causing a collapse in investor confidence.
#Binance
#crypto2023
Part-3
🚀 Gem Project Analysis! 🌟 Potential #Binance Listing DEX Gem Project OpenOcean (OOE) 📈
5️⃣ Team and Leadership: OpenOcean's team comprises seasoned engineers and financial veterans from prominent industry exchanges and IT businesses. Their expertise drives OpenOcean's vision of revolutionizing crypto trading.
6️⃣ Partnerships: OpenOcean has partnerships with major platforms like Binance and Deribit, supporting multiple networks like Ethereum, BSC, Tron, and Ontology.
7️⃣ Security and Audits: OpenOcean prioritizes security, passing audits on its public contracts from Certik and SlowMist. This ensures a secure trading environment for users.
8️⃣ Tokenomics: OOE token has a circulating supply of 504,425,832 coins and a max. supply of 1,000,000,000. This ensures a balanced tokenomics model.
9️⃣ Exchanges: OpenOcean is available on over seven crypto exchanges, with Kucoin, Gate.io and MEXC Global being the top three.
🔟 Conclusion: OpenOcean's innovative approach to DEX aggregation and cross-chain swaps makes it a promising project in the DeFi space. With its advanced technology, strategic partnerships, and strong team, it's poised to make a significant impact in the crypto trading landscape.
#TrendingTopic #OpenOcean #DeFiMasters #BNB #CryptoFossaGems🏹
🚀 Gem Project Analysis! 🌟 Potential #Binance Listing DEX Gem Project OpenOcean (OOE) 📈
5️⃣ Team and Leadership: OpenOcean's team comprises seasoned engineers and financial veterans from prominent industry exchanges and IT businesses. Their expertise drives OpenOcean's vision of revolutionizing crypto trading.
6️⃣ Partnerships: OpenOcean has partnerships with major platforms like Binance and Deribit, supporting multiple networks like Ethereum, BSC, Tron, and Ontology.
7️⃣ Security and Audits: OpenOcean prioritizes security, passing audits on its public contracts from Certik and SlowMist. This ensures a secure trading environment for users.
8️⃣ Tokenomics: OOE token has a circulating supply of 504,425,832 coins and a max. supply of 1,000,000,000. This ensures a balanced tokenomics model.
9️⃣ Exchanges: OpenOcean is available on over seven crypto exchanges, with Kucoin, Gate.io and MEXC Global being the top three.
🔟 Conclusion: OpenOcean's innovative approach to DEX aggregation and cross-chain swaps makes it a promising project in the DeFi space. With its advanced technology, strategic partnerships, and strong team, it's poised to make a significant impact in the crypto trading landscape.
#TrendingTopic #OpenOcean #DeFiMasters #BNB #CryptoFossaGems🏹
🔄🔀 Balancer expands liquidity on OpenOcean DEX aggregator! 🌐🚀 Balancer announces integration with OpenOcean to enhance user liquidity and offer optimal swap paths. 💱💧 A step towards providing a seamless DeFi experience with increased liquidity options! 📈🔗 #Balancer #OpenOcean #DeFiLiquidityExpansion
METAMASK INTEGRATES WITH DEX AGGREGATOR OPENOCEAN
#OpenOcean currently supports #Ethereum , #BSC , #Polygon , Avalanche, Arbitrum and Optimism Network. It is available in #MetaMask Portfolio, under Swap.
#OpenOcean currently supports #Ethereum , #BSC , #Polygon , Avalanche, Arbitrum and Optimism Network. It is available in #MetaMask Portfolio, under Swap.
⚡MetaMask Swaps has integrated OpenOcean, a DEX aggregator.
OpenOcean currently supports Ethereum, #BSC , Polygon, Avalanche, Arbitrum and Optimism Network. It is available in MetaMask Portfolio, under Swap.
#crypto2023 #ETH #OpenOcean
OpenOcean currently supports Ethereum, #BSC , Polygon, Avalanche, Arbitrum and Optimism Network. It is available in MetaMask Portfolio, under Swap.
#crypto2023 #ETH #OpenOcean
Part-2
🚀 Gem Project Analysis! 🌟 Potential #Binance Listing DEX Gem Project OpenOcean (OOE) 📈
🌊 Let's delve into the world of OpenOcean, a leading DEX aggregator protocol for crypto trading! 🌐📱
💫 Here's a thread why #OpenOcean is making waves in the crypto sphere⬇️🧵
1️⃣ Introduction & Overview: OpenOcean is a DEX aggregator protocol that sources liquidity from DeFi markets, enabling cross-chain swaps with low slippage and fast settlement. It's a game-changer in the crypto trading world.
2️⃣ Technology & Features: OpenOcean offers spot and derivative trading with the best offers and lowest slippage. It supports swaps and cross-chain swaps across various cryptocurrencies, making trading seamless and efficient.
3️⃣ Whitepaper Analysis: OpenOcean aggregates major decentralized exchanges across Ethereum, Layer 2s such as Arbitrum and Optimism, BNB Chain, Solana, Avalanche, Fantom and more, and is the first DEX aggregator on BNB Chain, Avalanche, Fantom, Solana and Gnosis.
4️⃣ Use Case: OOE token serves as a governance token, allowing holders to vote on OpenOcean-related issues. It's the bridge connecting isolated islands in the fragmented DeFi and CeFi markets.
to be continued .......
#TrendingTopic #BTC #DeFiMasters #CryptoFossaGems🏹
🚀 Gem Project Analysis! 🌟 Potential #Binance Listing DEX Gem Project OpenOcean (OOE) 📈
🌊 Let's delve into the world of OpenOcean, a leading DEX aggregator protocol for crypto trading! 🌐📱
💫 Here's a thread why #OpenOcean is making waves in the crypto sphere⬇️🧵
1️⃣ Introduction & Overview: OpenOcean is a DEX aggregator protocol that sources liquidity from DeFi markets, enabling cross-chain swaps with low slippage and fast settlement. It's a game-changer in the crypto trading world.
2️⃣ Technology & Features: OpenOcean offers spot and derivative trading with the best offers and lowest slippage. It supports swaps and cross-chain swaps across various cryptocurrencies, making trading seamless and efficient.
3️⃣ Whitepaper Analysis: OpenOcean aggregates major decentralized exchanges across Ethereum, Layer 2s such as Arbitrum and Optimism, BNB Chain, Solana, Avalanche, Fantom and more, and is the first DEX aggregator on BNB Chain, Avalanche, Fantom, Solana and Gnosis.
4️⃣ Use Case: OOE token serves as a governance token, allowing holders to vote on OpenOcean-related issues. It's the bridge connecting isolated islands in the fragmented DeFi and CeFi markets.
to be continued .......
#TrendingTopic #BTC #DeFiMasters #CryptoFossaGems🏹
MAJOR UPCOMING EVENTS IN AUGUST-SEPTEMBER
#SeiNetwork $SEI #CyberConnect $CYBER #Covalent $CQT #Chainflip $FLIP #OpenOcean $OOE #LybraFinance $LBR #Bounce $AUCTION #PancakeSwap $CAKE #Radix $XRD #Sweatcoin $SWEAT #DeFi
#SeiNetwork $SEI #CyberConnect $CYBER #Covalent $CQT #Chainflip $FLIP #OpenOcean $OOE #LybraFinance $LBR #Bounce $AUCTION #PancakeSwap $CAKE #Radix $XRD #Sweatcoin $SWEAT #DeFi
