OpenOcean lately introduced integrating Chainlink Value Feeds to safe its order restrict performance. The combination will enable OpenOcean to safe the function on a number of chains, together with Polygon, Fantom, Ethereum, BNB Chain, and Avalanche.
With Chainlink’s help, OpenOcean can now entry extremely exact worth information to suggest dependable DeFi restrict orders. The combination will initially entry a number of buying and selling pairs, like BTC/USD, ETH/USD, MATIC/USD, AVAX/USD, LINK/USD, FTM/USD, ANKR/USD, CAKE/USD, and so on.
Selecting Chainlink for its worth feed options was a pure alternative, given its seamless integration and confirmed capabilities. The oracle community has secured a number of main DeFi protocols that maintain billions of {dollars} in transactions.
Its ample safety and availability amid unexpected occasions like flash crashes, information manipulation, and downtime have been important for a lot of ventures. OpenOcean will leverage these functionalities to swap crypto property whereas providing one of the best worth throughout each DEX.
The community stands among the many greatest swap spots within the DeFi neighborhood. Its clever swap routing doesn’t contain protocol charges to supply one of the best return. As well as, it helps restrict order performance on a number of chains. It permits customers to organize targets to take advantage of out of favorable market circumstances.
Over the past 12 months, OpenOcean has built-in with Chainlink worth feeds to safe restrict order performance. Moreover integrating Chainlink Value Feeds, OpenOcean has additionally up to date its restrict order system. The community is discarding the usage of DEXs for worth quotes. As a substitute, it combines RFQ from skilled market makers and AMM routing to supply probably the most aggressive charges.
Thus, the community doesn’t require customers to remain put and anticipate the market to hit the optimum mark. Now, customers can simply set a set quantity and permit OpenOcean to maintain the remaining. For instance, if ETH is buying and selling at 1,500 {dollars}, customers can set the restrict order at 5,000 {dollars} USDC to ETH if the value falls beneath 1,3000 {dollars}. They will even set one other restrict order to promote the tokens if the value breaches 1,700 {dollars}.
The performance is free to make use of and permits customers to commerce whereas executing automated methods freely. Given the hectic nature of the crypto market, the performance will save many customers time.
