NEW!Incredible offer for our exclusive subscribers! Read More
Altcoins

Ethereum's Layer 2 Solution, Loopring (LRC), Integrated by Open Ocean Protocol

1 Mins read

Open Ocean protocol, tasked with merging liquidity across cenralized and decentralized financial protocols, becomes the first-ever liquidity dashboard to integrate Loopring (LRC).

Источник: cryptonews.net

Low fees, advanced speed, Ethereum-level security: Open Ocean integrates Loopring

CeFi/DeFi aggregator Open Ocean has successfully integrated the mechanisms of many blockchains, including Ethereum, Binance Smart Chain, Ontology and Tron. Now, its team has added Ethereum’s Layer 2 protocol, Loopring, to its technology stack.

Fee reduction and order execution speed upgrades are the two main rationales behind the integration of Ethereum’s Layer 2. Also, it is desgined to prevent Open Ocean from congestion in periods of maximum Ethereum (ETH) overload.

Loopring was chosen by the Open Ocean team due to its proven reliability and cost-efficient design. Loopring utilizes the concept of zkRollups, which is suitable for the majority of DEXs and AMMs.

Loopring integration allows Open Ocean to implement a new fee scheme. Now, the liquidity taker is charged with 0.25 percent fees while the maker is charged with negative fees. Actually, he/she is rewarded for bringing money to the protocol.

More integrations to come

To interact natively with Ethereum’s Layer 2, Open Ocean traders should activate specific accounts. Once the accounts are activated, the Layer 2 pairs will be displayed in orderbooks with special labels.

Ethereum’s (ETH) mainnet and Ethereum’s Layer 2 interact via a decentralized bridge, while their users are charged with negligible gas fees only.

The Open Ocean team highlights that more blockchains will be integrated by the aggregator in the coming months. Solana (SOL), Polygon Network (ex-Matic) and Polkadot (DOT) are top candidates for the integration.

Related posts
AltcoinsBTCBusinessCryptoETHMiningNewsOtherStock

Binqwix.com collaborates with Stake.com to offer Crypto services for its users

1 Mins read
Binqwix.com has collaborated with Stake.com to give crypto gamblers with a top-tier exchange where they can deposit, sell, and even convert Crypto…
AltcoinsBTCBusinessCryptoETHOther

Tradex-wallet.com staking platform with the best percentages or is it a temporary phenomenon?

1 Mins read
As it became known, tradex-wallet announced the announcement of a new staking program, rewards and large payouts for staking, the platform raffles…
AltcoinsBTCCryptoETHOther

Cryptwex & 15 More Crypto Exchanges Face Ire of South

2 Mins read
Sixteen international crypto exchanges. Including and the Mexican heavyweight MEXC. Have landed in hot water with Cryptwex.com financial regulators. For failing to comply with local guidelines….
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *