OpenOcean STIP Final Recap


During the STIP program, we have achieved significant milestones and have brought a positive effect on the Arbitrum ecosystem. With the strategic movements, we brought an additional 60k active users and $300m in transaction volume to Arbitrum, both significantly surpassing the initial KPIs set.

OpenOcean as a dex aggregator, the growth in our platform also generates economic value and volume to all integrated dexs/liquidity sources, since every swap made on our platform will bring users, volume and fee revenue to liquidity pools routed. In addition, with collaborating partners that use OpenOcean routing service, such as Camelot, we offered extra gas fee rebates while users swapped on the protocol.

In addition, OpenOcean’s cross-chain swap aggregator also helps encourage more users to

explore Arbitrum from other 7 chains. We also onboarded Chainlink’s new CCIP solution on Arbitrum to better support users and other protocols bridging assets to Arbitrum.

Moreover, our collaborative efforts with over 10 protocols integrated our API to bootstrap active users, trading volume, and swaps, bringing diversity to the Arbitrum ecosystem. This approach has fostered innovation and growth within the Arbitrum ecosystem, marking a growth and development on Arbitrum.

Key metrics analysis


  • The monthly trading volume soared to 105M, marking a 262% increase from the initial volume and surpassing the target of a 200% rise by 62.5%.
  • By the end of the STIP, active user addresses surpassed 125K, exceeding the original goal of 100k by 25k more.
  • During the cross-chain swap campaign, we significantly exceeded our original goal of tripling the growth, achieving an increase of approximately 2.28 times beyond the goal.
  • We also successfully onboarded 10+ protocols deploying our API service, including TaskOn, Enso, Native, Haha wallet, Swing, Swoop exchange, Fore protocol, Swapr, Dzap, etc.

The graph below displays the impressive growth trend throughout the program, demonstrating a consistent increase across each category and underscoring our dedication to developing a strong DeFi ecosystem on Arbitrum.

Dune dashboard

DAU in 30D:

Month/Year Monthly Active Users
Before STIP 11/2023 14,175
During STIP 12/2023 22,157
During STIP 01/2024 18,683
During STIP 02/2024 28,817
During STIP 03/2024 53,299

Monthly Trading Volume:

Month/Year Monthly Trading Volume
Before STIP 11/2023 $ 32,600,129.24
During STIP 12/2023 $ 49,210,135.97
During STIP 01/2024 $ 56,727,930.20
During STIP 02/2024 $ 93,228,737.29
During STIP 03/2024 $ 105,168,795.28


Month/Year Monthly Swaps
Before STIP 11/2023 23,265
During STIP 12/2023 37,093
During STIP 01/2024 29,435
During STIP 02/2024 51,298
During STIP 03/2024 96,626

Cross-chain Swaps:

Month/Year Monthly Trading Volume
Before STIP 11/2023 $ 30,125.45
During STIP 12/2023 $ 40,751.20
During STIP 01/2024 $ 51,732.22
During STIP 02/2024 $ 177,017.81
During STIP 03/2024 $ 212,277.09

To sum up, by implementing our STIP events, OpenOcean has significantly increased trading volumes across all DEXs within the Arbitrum ecosystem and successfully onboarded new users and new protocols to land on Arbitrum. Our incentivized referral program has further expanded the Arbitrum community, while our product suite has played a key role in supporting the growth of dApps on Arbitrum. Our efforts, including offering free access to our building tools such as the smart v3 routing service, widget, API, and SDK, have attracted both new and existing multichain projects to Arbitrum and strengthened its position as a top Layer 2 solution.

We thank the Arbitrum Foundation and Arbitrum community for the trust and opportunity, which have been essential in reaching these milestones. This report highlights our dedication to building a vibrant ecosystem and represents an important advance in our ongoing partnership with Arbitrum.

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