Ooga Booga is a decentralized exchange aggregator built on Berachain, designed to help traders discover the most cost-efficient crypto swaps while improving the accessibility and efficiency of decentralized trading.
Ooga Booga is a liquidity aggregator built for Berachain, combining liquidity from various sources to offer users the best trading options.
It aims to improve access to liquidity, enhance trading efficiency with better prices and lower slippage, and promote growth across the Berachain ecosystem.
Use Cases
Decentralized Exchanges (DEXs): Access aggregated liquidity for improved swap rates.
DeFi Platforms: Boost yield farming and staking opportunities through efficient liquidity sourcing.
Developers: Integrate Ooga Booga’s APIs for reliable liquidity access in applications.
Mission and Vision
Ooga Booga's mission is to empower seamless access to liquidity, fostering innovation, efficiency and financial inclusion for all. participants. Its vision is to become the core of liquidity aggregation in Berachain, driving interoperability and sustainable growth in decentralized finance.
Ooga Booga integrates with Berachain to harness the power of its unique Proof of Liquidity (PoL) consensus model, enhancing liquidity aggregation and trading efficiency across decentralized finance.
Smart Contract Deployment: Ooga Booga’s contracts are natively built on Berachain, enabling direct access to decentralized exchanges (DEXs) and liquidity pools within the network to offer seamless token swaps.
Strategic Partnerships: Collaboration with Kodiak DEX and other native protocols enhances swap aggregation, reducing slippage and improving price discovery.
Liquidity Routing Optimization: Advanced algorithms leverage PoL by utilizing tokenized liquidity positions (LPs), providing deep liquidity access and efficient routing for traders and platforms.
Developer-Friendly APIs and SDKs: A comprehensive toolkit supports easy integration for developers building on Berachain, fostering innovation and broader ecosystem adoption.
Incentive Programs and Governance: Liquidity mining rewards, staking programs, and community-driven governance empower users to shape the protocol’s future, aligning with Berachain’s participatory ethos.
Security Measures: Rigorous third-party audits ensure smart contract security and robustness before mainnet deployment, with continuous monitoring post-launch.
Cross-Chain Liquidity Expansion: Future phases will utilize Berachain’s cross-chain bridges to aggregate liquidity beyond its ecosystem, driving interoperability and scalability.
Since its launch on mainnet, the project has also made numerous integrations, including:
This integration solidifies Ooga Booga’s role as a core liquidity aggregator for Berachain, providing efficient trading solutions, deepening liquidity access, and contributing to a robust and interconnected blockchain economy.
Sources:
The Honey Cast (03/22/24): "Ooga Booga on THC" - LINK
@whoiskevin interview: "Ooga Booga on Berachain: Memes, Rugs, and the Future of Crypto" - LINK
YouTube Wahajat Mughal channel: "The best way to trade on Berachain? Ooga Booga deep dive & thesis" - LINK
COMPETITIVE ADVANTAGES
SCORE = 5/5
Unique Selling Proposition (USP) of Ooga Booga in Berachain:
Unique Positioning
First-Mover Advantage: Ooga Booga is the first native liquidity aggregator for Berachain, fully leveraging its gas-backed DeFi innovations for seamless integration.
Non-Standard Liquidity: Accesses unconventional pools to enhance capital efficiency and provide diverse trading opportunities.
Innovations
Smart Routing Algorithm: Optimizes liquidity sourcing for minimal slippage and the best trading rates.
Kodiak DEX Partnership: Early collaboration improves swap aggregation and advanced routing capabilities.
Developer Tools: APIs and SDKs facilitate smooth integration for Berachain developers.
Competitive Landscape
Limited Native Competition: Few direct liquidity aggregators exist in Berachain, giving Ooga Booga a specialized edge.
Superior Niche Optimization: Outperforms generalized aggregators with tailored solutions for Berachain’s ecosystem.
Long-Term Competitive Advantage
Scalability: Designed to evolve with Berachain’s growth and technological advancements.
Governance: Community-led decision-making aligns with user interests.
Strategic Partnerships: Collaborations like Kodiak ensure continual access to cutting-edge innovations.
Perception of Longevity
Strong Investor Confidence: Secured $2.5M in funding to drive long-term development.
Future-Proofing: Plans for cross-chain liquidity and continuous innovation sustain market leadership.
Ecosystem Alignment: Strengthens Berachain’s ecosystem, reinforcing its role as a foundational liquidity solution.
By integrating specialized features, fostering innovation, and leveraging a first-mover position, Ooga Booga establishes itself as the leading liquidity aggregator in Berachain, designed for scalability, efficiency, and community-driven growth.
@whoiskevin X post: "How do DEX aggregators actually work?" - LINK
SECTION 1 - FINAL SCORE: 20/20
SECTION 2: TOKENOMICS & IDO CONDITIONS
IDO TERMS AND CONDITIONS
SCORE = 5/5
Ramen Launch format: Fixed Price Sale
Fundraise hard cap: $150k
Token Price: $0.3
Requirement for entry: 200 GACHA
Allocation Cap per Winning Entry: $300
FDV: $30M
TOKEN UTILITY
SCORE = 5/5
Token Fundamentals of Ooga Booga
Purpose and Design
Liquidity Aggregator: Ooga Booga aims to be Berachain's premier liquidity aggregator, enhancing swap execution efficiency across the ecosystem.
Competitive Edge: Offers better execution prices than competitors like Bex and Kodiak, applying a 0.069% fee only when its price is at least 0.15% better, guaranteeing a 0.081% premium. If not superior, users access competitor liquidity without additional fees.
Token Structure
$OOGA Token: A liquid, transferable utility token with deflationary mechanics, designed as a key component of the protocol’s ecosystem.
$sOOGA Token: A non-transferable governance token earned by staking $OOGA at a 1:1 ratio.
Staking and Unstaking Mechanism
Staking Process:
Acquire $OOGA through markets, airdrops, or incentives.
Stake $OOGA to receive $sOOGA at a 1:1 conversion rate.
Allocate $sOOGA to modules for rewards and governance benefits.
Unstaking Process:
A time-weighted conversion tax applies if redeemed before the end of a specified conversion period.
The tax decreases linearly, allowing full conversion without penalties at the period’s completion.
Incentives
Allocation Benefits: $sOOGA holders earn yields, fees, and other incentives when staking in specific modules.
Unified Interface: Provides seamless access to Berachain’s ecosystem via a single UI, streamlining user experience.
By optimizing swap execution, integrating a dynamic fee model, and incentivizing governance participation, Ooga Booga positions itself as a centralized liquidity hub within Berachain, utilizing a robust, tiered token economy to fuel growth and engagement.
Source:
The Honey Cast (03/22/24): "Ooga Booga on THC" - LINK
Ooga Booga documents: "Staking and allocating" - LINK
TOKEN DISTRIBUTION
SCORE = 5/5
According to their tokenomics, tokens are bucketed into 7 sections:
The token distribution and vesting period are described in the following table:
Ooga Booga and its dual token structure is utterly embedded in the logic of proof of liquidity.
On other blockchains, a vast majority of transactions already happens through aggregators, less and less users tend to directly utilize direct Dexs front-ends, opting for one stop shop solutions, such as Defillama’s famous meta DEX aggregator: Llamaswap.
Ooga Booga’s ideology is also to plug other successful external project’s liquidity, proposing specific features such as multi asset swaps like Odos, gas-less swaps like Matcha.ox, limit orders like Jupiter, they are building an interesting aggregating alternative that will surely find its audience.
A lot of other native protocols liquidity will be tapped through Ooga Booga’s user interface.
With the amount of partnerships, the protocol tied within the entire Berachain ecosystem, especially with key partners such as Kodiak Finance, Marginal DEX, Beradrome, the Bullas, Aori Finance, Honeypot Finance and Goldilocks, one may expect a decent amount of utilities for the $sOOGA modules.
SECTION 2 - FINAL SCORE: 20/20
SECTION 3: SOCIAL MEDIA & COMMUNITY ENGAGEMENT
SOCIAL MEDIA PRESENCE
SCORE = 5/5
Ooga Booga has a presence on X and Discord.
The X account has more than 14k followers, but its activity is spaced out over time, becoming more dynamic in recent months. Its first post was on 03/20/2024 and the second post was on 08/19/2024.
In our preliminary evaluation conducted on 01/19/25 (unpublished), the project had 11.31K followers. Now, as we can see, it has 14.45K. The growth rate has been approximately 27.76%.
As for Discord, it has more than 3k followers, many of them really active in the channels.
In our preliminary evaluation conducted on 01/19/25 (unpublished), the project had over 3,000 followers. Now, as we can see, it has 5.4,000. The growth rate has been approximately 60.62%.
The first message in the announcement channel is from 04/09/24, totaling only 24 announcements in this channel in 9 months.
However, there are other channels such as the Weekly Dev Update and the Official Ooga Booga Content, within which the information is more fluid and frequent.
In turn, the Co-Founder of the project has a strong presence on X where he posts information about Ooga Booga and Berachain.
In short, although it may seem at first glance that the frequency of communication is infrequent through official channels, the information is provided mainly by Kevin and complemented by the official Ooga Booga X account and the aforementioned Discord channels.
Focusing our analysis on the project's social networks, we can see that the community is medium-sized, especially on Discord.
The General group is always active, being very well attended by both Kevin and other team members such as FW, Panda or The Witcher, who are recognized for being members of other large projects in the Berachain ecosystem.
As for engagement or community incentive campaigns, the main one they have is the Ooga Bucks, where they reward $6.9 for X content that helps spread the word about the project. This is really innovative and no other project has it.
On the other hand, they have recently started doing WL raffles for NFTs from the Berachain ecosystem.
The X posts on the official Ooga Booga account, although not very frequent, have a very high impact in terms of views (some have reached almost 200k, more than 1k likes and more than 400 reposts).
The levels of participation and engagement are organic according to the number of followers the project has.
Activities such as assigning a specific role on Discord for a limited time to reward the first users showed that the community is there. On Discord, this "Genesis" community is relatively small, but participatory.
Another thing is the posts on X, as we have already said, from the official account they are few, but of great impact.
At the same time, many people participate in the Ooga Bucks campaign, creating content about the project and receiving a reward for it.
What is also clear is that, beyond the "community" of the project, Ooga Booga has captivated a high percentage of the users of the Berachain testnet, with more than 450k users.
Ooga Booga is abundant and transparent in providing information about the project, however it is scattered across several channels. To get the full picture of the vision and impact of the project you need to be able to link together:
Its documents, agreements and terms of use, audit report.
Ooga Booga X accounts, but especially @whoiskevin.
Discord: you can find the information in the announcements channel, the Weekly Dev Updates channel, and the Official Ooga Booga content channel.
You can also find numerous podcasts and interviews with Kevin.
Virtually all information about the development, past, present and future of the project is public and can be found in the sources mentioned above. Even when they are going to reveal new developments or important information, they manage to create high levels of hype, as for example with this post:
SECTION 3 - FINAL SCORE: 20/20
SECTION 4: SECURITY & RISK ASSESSMENT
SECURITY AUDITS
SCORE = 5/5
Ooga Booga shared a security audit conducted by Zellic, a well established third-party auditing firm.
Security Audit Findings and Mitigations for Ooga Booga:
Strengths
Critical Issue Resolution: All critical vulnerabilities identified by Zellic’s audit were resolved before the platform’s deployment.
Slippage Guards: Smart contracts incorporate robust slippage protection, reverting transactions if the fee differential exceeds a threshold, automatically routing trades through Bex or Kodiak.
Centralization Risk: Off-chain simulations create unavoidable back-end centralization, though slippage monitoring and validation controls mitigate user risk.
Oracle Dependency: Reliance on a single oracle introduces potential vulnerabilities. No redundancy strategy for oracle failure is outlined.
Ongoing Security Plans
Commitment to regular audits to ensure continuous security improvements.
Summary of Pros and Cons
Pros:
Resolution of major vulnerabilities.
Effective slippage protection mechanisms.
Comprehensive validation processes.
Cons:
Centralization inherent in off-chain simulations.
Lack of redundancy for oracle dependency.
Conclusion:
Ooga Booga demonstrates proactive security management by resolving key vulnerabilities and integrating strong safeguards.
However, addressing oracle redundancy and exploring decentralized alternatives for off-chain processes would further enhance the platform’s robustness.
Compliance Measures: Ooga Booga adheres to all major regulatory requirements in its operational jurisdictions. Specific measures include:
KYC/AML Compliance: Limited to its partners and collaborators, ensuring lawful operations. Apparently without compromising user privacy.
Restrictions on High-Risk Jurisdictions: Users from restricted territories, including the U.S. and China, are explicitly prohibited from accessing the platform. This is an important limit to product growth.
Market exclusion is entirely dependent on the due regulatory environment. In this regard, the project's adherence to such regulation is geared towards making efforts to safeguard the longevity of the project.
Ooga Booga has conducted a comprehensive risk identification process, addressing both technical and financial risks.
Technical Risks:
Backend Centralization: Ooga Booga’s reliance on off-chain simulations presents a centralization risk. Any back-end failure could compromise the platform’s services.
Smart Contract Bugs: Although the platform has passed an audit, bugs in smart contracts remain a risk.
Financial Risks:
Liquidity Drain: The platform could face liquidity shortages due to market volatility or manipulation.
Fee Dependency: Ooga Booga's fee model hinges on outperforming competitors such as Bex and Kodiak. This may not always be feasible, introducing financial uncertainty.
Social Risks:
Community Criticism: The centralization risks and reliance on off-chain components could lead to criticism, especially from DeFi purists.
CONTINGENCY PLANS
SCORE = 5/5
Identified Risks:
Centralization Risk Mitigation: Implementation of mechanisms to ensure minimal disruption in case of back-end failure.
Oracle Redundancy: Plans to integrate multiple oracles to reduce reliance on a single data source.
Liquidity Support: Emergency liquidity reserves are in place to minimize sudden liquidity shortages.
Smart Contract Updates: A defined system for rapid patching and updating to ensure timely resolution of newly discovered vulnerabilities.
Pros:
Properly defined processes for mitigation of liquidity and technical risks.
Plans for introducing redundancy in oracles.
Cons
No timelines to implement redundancy and fallback mechanisms.
Ooga Booga shows a robust approach to security and risk management, and addresses critical vulnerabilities and planning for ongoing audits. However, centralization and oracle dependency remain areas of concern.
The project’s proactive risk identification and mitigation strategies are very commendable, but s more detailed contingency planning would enhance user confidence.
On this aspect, the project provides the following information about what they have done and are doing:
Establish an Industry-standard corporate structuring (and re-structuring) to ensure future-proofing the legal infrastructure's operations;
Regular regulatory risk identification, assessment and mitigation exercises.
SECTION 4 - FINAL SCORE: 20/20
SECTION 5: CREDIBILITY, LEGITIMACY & QUALITY
PROJECT AND TEAM BACKGROUND
SCORE = 5/5
Ooga Booga has a team of people specializing in various areas of web3.
Kevin, its CEO, has extensive knowledge in finance and development, which he continually shares on his X account, making him one of the largest yapper's in the Berachain ecosystem.
His personality is highly recognized in the ecosystem, as is his participation in numerous events and podcasts.
He is joined in the development of Ooga Booga by:
Bruno
Panda
FW
Witcher
PROJECT HISTORY
SCORE = 5/5
Compared to other projects in the ecosystem that have been developing for more than a year, Ooga Booga has achieved notoriety and capital importance in a relatively short time.
Their first post on X is announcing the funding round where they got 1M for the development of the project, on 03/20/24.
From there the project begins to strengthen itself as the liquidity aggregator that it is, partnerships and collaborations begin to take place, it creates and grows its community, launches its product on testnet with great success and social campaigns with rewards such as the Ooga Bucks.
Systematizing, we could say that among the main milestones in the history of the project are the following:
Received 1M of investment in the seed round, led by Kenetic, on 03/20/24.
On 08/19/24 they published their testnet app 100% operational.
On October and November they announced some partnership with strategic protocols, like Kodiak, MarginalDEX, Beradrome and Bullas Exchange;
On 11/20/24 they announced their airdrop campaign, incentivizing social tasks.
And now, on January 9, they announced another strategic round, fundraising 1,5M NET worth led by Primal.
REPUTATION IN THE ECOSYSTEM
SCORE: 5/5
The project is supported by other projects in the Berachain ecosystem and, by the way, has a lot of relevance in the ecosystem.
Especially through its Co-founder Kevin, who through his X account constantly posts about Berachain and its ecosystem of projects, details about the development of Ooga Booga, issues related to the PoL, data analysis, copypasta, participation in podcasts, etc... generating continuous interaction with other founders of projects in the ecosystem and with users in general.
Both Ooga Booga and Kevin have a very positive reputation within the ecosystem.
In turn, as seen above, their work team includes great and well-known characters from other projects such as Beraland, THJ, Yeet, Kodiak, among others.
PARTNERSHIPS AND COLLABORATIONS
SCORE = 5/5
If we look directly at the topic of partners through their social networks, we can see that they are focused on links with projects that can work in compatibility with Ooga Booga's proposal to be the main liquidity aggregator of the chain. These main partners are:
Kodiak
Beradrome
Marginal
Bulla Exchange
To this we must add the agreements with different projects so that these can be sources of liquidity. At the time of making this report, 15 agreements were already active and another 15 were on the way to being closed. Among them we can name:
Burr Bear
Izumi
Grizzli
HoneyPot
Memeswap
Bend / Bex / Berps
Twein Finance
Webera.
Both the partnerships and the liquidity source agreements demonstrate how Ooga Booga truly positions itself as the leader in the liquidity aggregator sector on Berachain.
Excellent: The project presents a solid value proposition, excellent integration with Berachain, well-structured tokenomics, high social media activity and engagement, and robust security measures.
This report has been prepared with information provided by the S&P team of Contributors:
The project initially scored 89 and later achieved 100, reflecting a 12.36% growth in its performance.
Disclaimer
While S&P doesn't guarantee absolute protection against scams and rug pulls, it is a valuable tool for navigating the Berachain ecosystem with enhanced security.
