OpenOcean
OpenOcean is a DEX aggregator on Base, integrating the most liquidity pools on-chain, to help bring traders the best possible swap rates along with our advanced routing algorithm.
About
The problem it solves OpenOcean is building an all-in-one DeFi hub on Base. Users have access to a wide range of DeFi tools, including Fiat-on ramp, swaps, limit orders, the new DCA and cross-chain swaps feature. This comprehensive suite allows for diverse trading and investment strategies within a single platform, and ultimately increases the overall trading efficiency in the DeFi space. To highlight the OpenOcean DCA+Cross-chain features, which are designed to elevate every user's potential reach on-chain. The new features we're introducing during this event will aim to empower users trading activities on-chain through increased bridging infra on Base and new tools to automate the buying and selling of tokens. Dollar Cost Average: The new DCA tools OpenOcean are developing will allow any users the opportunity to buy/sell fixed amounts of tokens over a specified time period. This helps investors scale into and out of any on-chain asset including meme tokens, blue chips and custom tokens whilst averaging out their buy price. This new tool is completely non-custodial and taps into the excellent efficiency offered by the OpenOcean back end. This will also be available via API free-of-charge to any project/trader/enterprise customer who wishes to tap into it. Cross-chain: By introducing BASE into our cross-chain suite, we can level-up the opportunities that we have available to all of our users. Seamlessly facilitating the migration of liquidity on-chain.
How it's made
Challenges we ran into DCA (currently on staging environment) When building DCA, we need to consider different scenarios that might happen on the users end and have corresponding solutions. E.g. if users cancel the DCA in the middle of processing DCA strategies or if a partial DCA has been filed, how to update the status. In this case, we will cancel users’ DCA timing set up to ensure the following DCA orders are not executing. Additionally, to help users better do risk management on their DCA strategies, we provide the option for users to set their acceptable price range. If the price falls out of the range, no executions. Cross-chain swaps (under development) In regards to cross-chain swaps, the most challenging part is ensuring the timely update of the swap status. We now fetch the status on the origin chain by reading the transaction hash. If the transaction succeeds, we will fetch the target chain status through the endpoint of the third party (supported bridges).