OKEx, a Really Decentralized Crypto Change! | by Dwayne D’cunha | The Capital | Jun, 2021

OKEx is a decentralized Crypto Change that goals to make buying and selling with cryptocurrencies as accessible as doable. It makes use of the blockchain to ship companies associated to buying and selling and investing whereas offering futures, spot, margin, choices, and perpetual swaps, DeFi, lending, and mining companies. It additionally ranks 17 on the planet when in comparison with different crypto exchanges in accordance with CoinMarketCap.

It’s pure for many Crypto Exchanges to not listing each meme cryptocurrency, in any case, they maintain some duty for itemizing and promoting such currencies. Some quantity of recognition and an honest market cap are most likely the 2 greatest components on the subject of deciding on a specific cryptocurrency. OKEx has taken a unique strategy to itemizing by permitting its group to determine which cryptocurrency they need to allow on their platform. AKITA and KISHU are two such tokens that had been chosen primarily based on a ballot to be listed as OKEx’s latest meme cryptocurrencies. For individuals who have heard it for the primary time, you can consider them as derivatives of dogecoin like Shiba Inu. Together with providing customers holding such tokens 2% of the overall buying and selling quantity of the day relying on the proportion of holdings held of their OKEx account. Snapshots of OKEx accounts holding KISHU had been taken each day, and the rewards had been credited each Friday. As well as, OKEx gave out all the transaction charges generated from the KISHU/USDT buying and selling pair from the primary week of buying and selling as an unique dividend.

I may positively see extra Exchanges doing that is sooner or later because it lets customers participate in essential selections and, in doing, additionally highlights the significance of getting a decentralized authority. OKEx has by no means deterred from meme cryptocurrencies because it has additionally listed Shiba Inu fairly lately. Shiba Inu has been seemed down upon as it’s primarily based on a meme cryptocurrency and likewise lacks precise worth that may profit individuals. Nonetheless, it ought to be given an equal alternative to take part and be there as an possibility for individuals trying to diversify their portfolios.

This new mode on the present platform will embrace a decentralized pockets, an NFT market, and farming instruments. These modifications will assist people who find themselves closely invested by offering extra companies that may make it extra handy to handle your property and take part in new DeFi funding alternatives. I’m excited to see what the NFT market will supply because it additionally consists of NFT creation together with buying and selling. With the assistance of the pockets, additionally, you will be capable to examine what sort of property you maintain like NFTs or stablecoins. This can let it compete with main Exchanges like Binance, which have enormous platforms for Crypto artists.

OKEx has additionally built-in itself with Polygon to supply a extra clean expertise for customers emigrate together with reducing down on pointless charges. This shall be achieved by eliminating the withdrawal charge that’s normally charged. Polygon is Layer-2 Ethereum scaling answer that goals to construct and hyperlink Ethereum-compatible blockchain networks. Polygon has additionally partnered with different main blockchain networks to supply modules to make it simpler to develop DApps.