OKChain and OKDEX Are in the Pipeline, Said OKEx CEO During the AMA Session
On 12 November 2019, OKEx CEO Jay Hao hosted an “Ask-Me-Anything” session on the English Telegram group with the topic surrounding the OKEx ecosystem, which followed the previous one discussing the newly launched USDT futures. This article presents some of the highlights of the AMA session.
1. OKEx listing criteria is clear and transparent
Regarding the project listing, Jay explained that OKEx has strict requirements, and the listing/delisting guidelines are clear and transparent. Truly quality projects are the ones OKEx would like to pick up for their users, and the cryptocurrency exchange also takes some measures, such as the upgrade of their Jumpstart rules, to alleviate market speculations and manipulations.
2. Users and security are second to nothing
Jay Hao highlighted in the AMA session, “Users and security are second to nothing, and it is about the security of funds, trading, data and privacy.” According to the AMA, OKEx has recovered over 400 million US dollars for their users, and the cryptocurrency exchange has also divided the assets between multisig cold wallets with around 500BTC each so that the risk could be better managed and controlled. As mentioned by Jay Hao, there has been no security issue on OKEx.
3. OKChain is to be launched, OKDex will be the first DApp
OKChain, the self-built blockchain infrastructure by OKEx, is at the final stage of testing. It is expected to help the unbanked by providing them basic financial services. The decentralized exchange, OKDex, will be the first DApp launched on this blockchain infrastructure. Also, OKB, the native token circulating in the OKEx ecosystem, will be equipped with more use cases in different fields, including cybersecurity, finance, lifestyle services and more.
4. OKEx offers wider range of products compared to its competitors
In the AMA session, when talking about the difference from their competitors, Jay Hao mentioned the wider range of products could be one of the ways they stay ahead of other exchanges in the market. Also, the super matching engine which could provide reliable and stable services is another highlight mentioned by Jay Hao.
5. OKEx Pool supports PoW and PoS mining of 9 major cryptocurrencies
OKEx Pool integrates mining and trading services with support for PoW and PoS/PoS-variant mining of 9 major cryptocurrencies, so that users can transfer mining rewards to OKEx mining accounts directly. As highlighted by Jay Hao, the cryptocurrency exchange can also provide technical and security service to its users. As the exclusive exchange which could provide hedging opportunities for digital assets, OKEx can help miners secure their mining income for a maximum of 180 days.
6. OKEX USDT-margined perpetual swap to be launched in December
Jay Hao, CEO of OKEx, mentioned that new products, USDT perpetual swap trading simulation and trading contest will be launched in early December.
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Guest Author, Khareem Sudlow
