OpenOcean Becomes First DEX Aggregator to Expand to Solana (SOL)

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In Brief
  • OpenOcean expands to Solana after receiving a massive number of requests from their community.

  • Over 14,000 users have voted in a Twitter poll for OpenOcean to aggregate Solana.

  • Solana has donated $25,000 towards fighting COVID-19 in India, following death of Devfolio CEO.

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The decentralized exchange (DEX) aggregator OpenOcean has announced its expansion to Solana (SOL). Becoming the first aggregator of its kind to do so.

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According to an article OpenOcean Global reps posted on May 28, the decision came after a massive number of requests from the aggregator’s community. Including more than 14,000 votes on a poll first issued on their official Twitter on May 25. At time of press, the poll had accumulated nearly 44,000 votes in total. It also listed Polygon, Avalanche and Fantom among the aggregation options.

OpenOcean’s operation encompasses both centralized and decentralized finance (CeFi and DeFi). The protocol already operates on the Ethereum, Binance Smart Chain, Tron, and Ontology networks. Its expansion to Solana now allows its users to trade in the Solana token (SOL), as well as Raydium (RAY), Serum (SRM), Oxygen (OXY) and Bonfida (FIDA).

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The aggregator also promises its partnership with the high-performance blockchain will enable its users to “trade on a more versatile platform” and take advantage of “trading possibilities with the lowest fees and slippage.”

This is the latest in a series of developments at OpenOcean this month. On May 21, the aggregation platform announced its expansion into Japanese, Chinese, Spanish and Russian markets. Reasoning that, since its inception in 2020, OpenOcean had seen more than 184,000 users from over 200 countries trade with them.

Other collabs with Solana

The move by OpenOcean comes in the middle of the Solana Season Hackathon, which began on May 15. The twenty day event has a total prize pool of $1 million. Developers, designers and entrepreneurs can submit projects to the hackathon until June 7. 

Also during the event, it was announced that Solana would team up with Indian crypto exchange CoinCDX to host a virtual hackathon. A collaboration that will also include Devfolio. Representatives from both Solana and CoinCDX have stated they hope the hackathon will reinforce India’s crypto and blockchain communities.

Both CoinCDX and Devfolio already contributed to the India track of the ongoing Solana hackathon, including a $50,000 prize pool.

On May 28, Solana reps paid tribute to Shakti Goap, founder and CEO of Devfolio, who died earlier in the month from COVID-19. They issued a tweet stating “Our deepest condolences go out to Shakti Goap & his family. Shakti was a judge in our recent hackathon, as Devfolio was our partner for the event. In his memory, the Solana Foundation has donated $25k via volunteer organization Bhumi Organisation.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

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