Wasabi protocol, a DeFi platform that allows users to trade long tail assets (like NFTs and meme coins) with leverage, today announced a strategic partnership with OpenOcean, a DeFi and CeFi full aggregator that provides users with the best swap pricing and top trading efficiency across decentralized and centralized exchanges. According to an x post shared today, the partnership enabled Wasabi to integrate its Prop AMM (professional automated market maker) with OpenOcean’s DEX and CEX aggregator to bring deep cross-chain liquidity to Wasabi.
Due to a lack of financial infrastructure for on-chain long-tail assets, the Wasabi protocol was launched in 2024 to offer effective price discovery on such digital assets. With Wasabi’s on-chain leverage protocol, users can long, short, and stake NFTs and meme coins with up to 10x leverage.
Wasabi Taps OpenOcean To Provide DEX And CEX Services To Users
The partnership above means that Wasabi leverages OpenOcean’s modular infrastructure of exchange to allow its leverage trading platform to access support from various decentralized and centralized liquidity pool providers. The alliance means Wasabi’s leverage trading protocol can now access CEXs and DEXs connected on OpenOcean’s modular infrastructure.
A major challenge that digital asset traders and users experience is on-chain liquidity fragmentation, which results in trading and transaction inefficiencies. OpenOcean resolves this problem by using its aggregator infrastructure to offer users access to various sources of liquidity in a unified hub. It functions as a liquidity aggregator across both decentralized and centralized markets and also across different blockchain networks. Since its launch in 2020, OpenOcean has continued to integrate on major public networks, including Ethereum, BNBChain, Avalanche, and several others, as well as connecting with various CEXs (centralized exchanges) such as Binance, Coinbase, among others. By providing a suite of tools across multiple chains and various unique DEX and CEX sources of liquidity, OpenOcean provides crypto users with the seamless ability to execute cross-chain tokens across various decentralized and centralized platforms, with access to best rate swaps, better prices, and lower slippage.
With the partnership above, the integration of OpenOcean gives Wasabi the ability to host various multi-asset DEX and CEX exchanges on its leverage trading platform, making it a cross-chain provider of digital asset liquidity.
Unlocking Cross-Chain Liquidity Capabilities
This tech incorporation of Wasabi into OpenOcean is Wasabi’s strategy to introduce a stable, cost-effective, rapid, and secure cross-chain DEX and CEX trading experience on its leverage trading protocol.
This collaboration showcases that one of Wasabi’s key goals is to enable integration with major cross-chain transaction networks and liquidity providers such as OpenOcean and several others. Its partnership with OpenOcean brings advanced value to users on both institutional and retail levels, now enabling Wasabi users to access different multi-chain assets with low transaction costs, high processing speed, advanced security, and low slippage.
