The Ox protocol recently announced another new development in its ecosystem. The protocol will be aggregating liquidity from Polygon, BNB chain, and Optimism. This will help developers access the deepest liquidity on the various chains the protocol supports.
The DeFi protocol revealed that it had received multiple requests from developers, asking the team to add new liquidity sources. Ox protocol has now reacted to these requests positively, further assuring developers that the team has more in store in the coming weeks.
For the BNB chain, Knightswap and MDEX are the liquidity sources used by the protocol. The protocol sourced polygon’s liquidity from Meshswap, while Optimism’s liquidity was drawn from Velodrome.
Ox Protocol – A Perfect Platform for DeFi Builders and Users
The Ox-API is free to use and some big names in the crypto space like Coinbase, Metamask, and Brave utilize Ox’s routing service. The API scans through the market, and filters out the best prices from hundreds of automated market makers. This helps developers spend less.
The Ox protocol was founded in 2016. The protocol was built on the Ethereum blockchain to enable traders to swap their ERC-20 assets. Interestingly, Ox supports both fungible and non-fungible token standards. This makes the protocol superior to many other Ethereum DEXs.
The protocol enables traders to exchange their assets using a framework similar to order books, but without needing to rely on a centralized entity. Ox achieves this by hosting off-chain order books and offering user-facing applications. The application permit traders to open and close transactions.
Transactions on the protocol are paid for using the ZRX token. For users, Ox serves as a unique DeFi exchange protocol for ETH and other tokens. For developers, Ox is an excellent tool for building high-quality web3 products.