DeFi Aggregator OpenOcean Integrates zkSync to Accelerate Its Expansion in ZK-Rollups

Recently, the DeFi space has experienced remarkable growth as investors increasingly prioritize security and control over their assets. This shift from centralized exchanges (CEXs), which have struggled to maintain user trust in safeguarding funds, has fueled the expansion of DeFi. Amidst this landscape, zkSync is on a mission to push the boundaries of DeFi even further, enhancing the opportunities and potential within the sector. In a recent press release, OpenOcean, a leading DeFi aggregator, has announced its collaboration with zkSync, a pioneering Layer-2 scaling solution, to speed up its expansion into the ZK-Rollups ecosystem. By implementing zkSync’s innovative technology, OpenOcean aims to drive the DeFi space and offer users a seamless experience with faster transactions and reduced fees.

OpenOcean Plans For A Multichain Future

OpenOcean, a leading DEX aggregator and Web3 middleware protocol, recently unveiled its integration with the advanced Ethereum layer 2 zk-rollup scaling solution, zkSync. This strategic move aligns with OpenOcean’s vision of a multichain future, while further solidifying its commitment to offer seamless, all-in-one trading solutions for Web3 users worldwide.

It's a new era for us here at #OpenOcean

We are proud to bring our cost-saving dex aggregation service to @zksync Era, the new L2 scaling solution for #Ethereum!https://t.co/vZ7l5iK1l4
Let's find out more pic.twitter.com/Q5Hb7SMZUn

— OpenOcean – A leading Web3 DEX Aggregator (@OpenOceanGlobal) April 27, 2023

OpenOcean has successfully launched its renowned, user-friendly, decentralized exchange aggregation service on the zkSync era, incorporating the largest DEXs on the network alongside TradingView charts. From the get-go, deep liquidity sources from SyncSwap, Velocore, Mute, iZiSwap, SpaceFi, and GemSwap are live, ensuring traders access to the most competitive swap rates.

Sam, from the zkSync team, said, “We warmly welcome OpenOcean to the zkSync community. As an established multichain dex aggregator, users will be able to execute trades efficiently across different liquidity pools and reduce slippage.”

The sophisticated routing algorithm at the heart of OpenOcean empowers on-chain swaps with real-time route-splitting, analyzing and comparing multiple factors such as price and transaction costs to pinpoint the most efficient swap route. OpenOcean consistently stands out as the top choice for users seeking to optimize returns when trading on zkSync, offering potential trading benefits like airdrops and giveaways.

zkSync Era Pushes OpenOcean To New Heights

Developed by Matter Labs, zkSync is a next-generation Layer-2 scaling solution built on the Ethereum blockchain. It leverages zero-knowledge proofs (ZKPs), a cryptographic technique that allows one party to prove the validity of a statement without revealing any information about the statement itself. By harnessing the power of ZKPs, zkSync provides users with a secure, low-cost, and efficient platform for conducting transactions.

zkSync’s primary innovation is its zk-Rollup technology, which bundles multiple transactions into a single proof, significantly improving transaction throughput and reducing network congestion. This allows the Ethereum network to handle more transactions per second, addressing the scalability challenges that have long plagued the DeFi space.

OpenOcean is revolutionizing the DeFi space not only with its robust swap functions but also by offering an industry-leading API and SDK for hassle-free zkSync era mainnet use and integration, available to both dApps and individuals.

ZK networks like zkSync Era play a crucial role in helping Ethereum scale by allowing layer 2s to expand off the mainnet. Through supported zkSync bridges, users can seamlessly transfer assets and begin trading on OpenOcean. ZK-rollup ensures privacy and security by enabling users to validate transactions without disclosing sensitive information.

zkSync Era has witnessed a staggering influx of over $256 million within just a month of its launch, as investors scramble to find promising opportunities in emerging projects built on the network. Layer 2 network activity data from L2Beat reveals that since its debut on March 22, zkSync has attracted over 70,000 Ether (ETH), $81 million in USD Coin (USDC) stablecoin, and $8 million in Mute (MUTE) tokens, reflecting the growing interest in this innovative platform.

Looking ahead, OpenOcean plans to further strengthen its support for the zkSync Era ecosystem by introducing additional features such as limit orders and cross-chain swap aggregation.