Open Ocean is Conducting an IDO on Polkastarter for Their OOE Token

The aggregating protocol is looking to increase investor interest with their IDO launch.

By
Robert D. Knight
on
May 19, 2021
Category:
BSC News

Introduction

The Open Ocean protocol is set to launch its Initial Digital Offering (IDO) on Polkastarter, with the whitelisting event scheduled for May 19th at 12:00 UTC. The final IDO date has yet to be announced, with Open Ocean inviting interested parties to follow their social media channels for further updates and information on the launch of its native $OOE token.

Source


Whitelist Details

The whitelist event will start on May 19th at 12:00 UTC.

IDO date: TBA

Offering: 150K USD at 40M USD valuation

Token price: $0.04 per $OOE token

Chain: Binance Smart Chain

Vesting: 20% release on Token Generation Event (TGE), 80% released quarterly over a 2.5 year time period

Mode: First come, first serve (FCFS)

KYC: Required based on a criteria list


Open Ocean

Open Ocean touts itself as ‘the world’s first DeFi & CeFi full aggregator’. A quick glance at their website and supported blockchains and exchanges demonstrates just how extensive that aggregation is. 

According to Open Ocean their aggregator has been designed to find the best prices with no additional fees and the lowest possible slippage. The platform uses an optimized intelligent routing algorithm to scour both CeFi and DeFi for the best value trades. The platform supports Ethereum, Ethereum Layer2, Binance Smart Chain, Tron and Ontology. Solana and Polkadot are to be rolled out soon, and the company also supports Binance integration

Beyond simple token swaps, the platform also aggregates yield, lending, insurance products, as well as automatic arbitrage tools. The company is currently developing a number of other tools, including margin products and an ‘intelligent wealth management service.’

Concluding Thoughts

Open Ocean has already completed a successful private funding round which included high profile names such as Altonomy and LD Capital, DAO Maker, TRON Foundation, Asymmetries Technologies, LIAN Group, MarketAcross and Cao Zhen (partner of Republic.co). Prior to this the company had already secured $2M in a funding round led by Binance which also included Multicoin Capital, CMS, and Kenetic.

Open Ocean therefore seems well placed to deliver on its promise, and there is little doubt that considerable interest will surround IDO’s official launch date announcement.


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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.

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