Disclaimer - I am employed by OpenOcean
Background Context
OpenOcean is the first CEX and DEX aggregator partner that has deployed on Terra. With the integration, users can now trade maximum returns on Terra-based assets executed by OpenOcean Atlantic, our second version, which provides an algorithm optimized for maximum returns that cannot be found anywhere else.
The algorithm optimizes trading for the best returns based on multiple parameters, including better price, lower gas fee, lower slippage, and optimized routing to maximize final returns. This means that you do not need to worry about the tradeoff between the best price from using multiple routes and the higher gas fees that may come with it — OpenOcean considers everything and offers you the best solution to get you the most out of each swap.
OpenOcean launched in September 2020 and has been sailing smoothly for over a year. Since launch, much progress has been made; the protocol went live, 14 networks and 70+ liquidity sources have been aggregated, and 400K+ individual active addresses are trading on the platform. Since OpenOcean’s inception, the protocol has provided tremendous value for traders, saving millions of dollars at no additional cost.
On January 10, 2022, OpenOcean announced the aggregation of Terra and its leading DEXes Astroport, Terraswap and Loop Finance.
We would like to propose a trading competition on OpenOcean in partnership with Terra and leading Terra projects. The campaign will look similar to what we did on other networks e.g. Fantom
The Fantom campaign kick-started trading on Fantom via OpenOcean, brought new users to the network, helped existing Fantom users trade maximum returns, and increased trading volume significantly which has continued to increase resulting in new campaigns and Farms on leading Fantom DEXes. We would like to replicate this success on Terra!
This will allow our 400,000 active user base to be introduced to the Terra ecosystem and Terra-based assets - increasing awareness and bringing on more users to Terra.
For this, we would like to ask the Terra community for 20kUSD worth of LUNA to allocate for campaign rewards.
Execution - Disbursement of Rewards
Fund for OpenOcean trading campaign
- Start: Within 1 month from this proposal being voted in
- Partners: We have more Terra based projects who’re interested in joining the campaign. They are TBA
- Duration: 2-3 weeks
- Ask for Terra: 20kUSD worth of LUNA
Campaign details (To be confirmed)
The campaign will be split into two parts 1) Campaign Competition with 80% of the total rewards allocated, and 2) Lucky Draw with 20% of the total rewards allocated.
Rules
You must have a total trading volume exceeding $500 USDT equivalent on Terra through OpenOcean.
Following tokens will be counted into the campaign volume: $LUNA, $UST and much more TBA
Campaign Competition
The rewards will be distributed based on rank of trading volume. See example below for $70k reward pool:
Lucky Draw
$10k reward pool example: Randomly select 200 participating users to reward $50 worth of tokens each.
Please allow for open discourse and feedback in the comments below.
