OceanEx AMA — 1.0

Thanks for participating in our first AMA! We have received more than one hundred questions covering many areas. We have sorted questions into categories so that we can answer as many questions as possible. Meanwhile, we have removed duplicative questions, and tried to focus on the most representative questions, which we have listed below:

  • Token Listing related:
Q: When will OCE be listed?

A: OCE will be listed in Q1 2019. We understand your anticipation and appreciate your patience. Please stay tuned for further updates which will be issued soon.

Q: When will other VeFam projects be listed?

A: Other VeFam projects will be listed once both parties are ready to initiate the listing. We can not disclose the listing time at this moment.

Q: Will OceanEx list other coins beside the Vechain ecosystem like XRP and LTC?

A: Starting from Q2 2019, we will consider listing projects outside the VeChain Ecosystem that meet our listing criteria: sufficient trading volume; community engagement and quality; and solid use cases and deployment plan. XRP and LTC as mentioned in the question, are both under consideration.

  • OCE Tokenomics
Q: May the OCE tokens grant a token holder any form of rewards based on the daily trading fees (such as a dividend)? If not, then is there a token burn / buyback mechanism for the OCE token planned?

A: A brief overview of tokenomics of OCE was introduced in our first announcement in May 2018. More details will be soon announced before the OCE listing in Q1 2019.

Q: Will the non-KYC withdrawal limit be raised from 0.1 BTC after Beta? I feel this is holding the exchange back currently.

A: Based on our compliance policies and requirements. We do not intend to increase the withdrawal limit for non-KYC users. We encourage you to submit KYC and we have competitive wait times for approval.

Q: When will the whitepaper be released?

A: Instead of releasing a whitepaper as we planned before, we decided to give our community and users a monthly update regarding our development roadmap and operational status starting in March. We think this can give our community and users a better picture of our dynamic development plan.

Q: Will stop-loss option be available?

We have been analyzing different order types as we want to provide users with the tools to improve their trading experience. Currently, stop limit/market orders are in our roadmap. Trailing stop and combination orders are also on our watch list.

Q: Will Crypto Bento be exclusively purchased with OCE tokens or will BTC/ETH/VET options for purchasing Bento be available?

A: We are still working on the prototype of Crypto Bento. Its release will be postponed. Due to the enormous development workloads, we are having now with other trading functions. All details will be announced once it is finalized.

Q: Could you give us more information about the Whales Club? Are there going to be OCE nodes similar to Safehaven and Vechain?

The details of Whales Club will be announced when we launch the OceanEx 2.0 by the end of Q1. It is coming soon.

Q: In the picture posted somewhere last year there was an ATM with OceanEx logo. How far along are those ATM’s?

A: OceanEx is a digital asset trading platform and is not engaged in the business of ATM manufacturing.

Q: Will you develop a Decentralised Exchange on Vechain Platform? If yes do you have any dates eg Q1 2020 ?

A: Developing a decentralized exchange is on our watchlist. Currently, our major efforts focus on providing the best centralized exchange service to our customers first.

Q: What are OceanEx strategic partners?

A: OceanEx’s strategic partners include: VeChain Foundation, FENBUSHI Capital and CertiK.

Q: Do you have any plans to develop a mobile app? If so, how far along is it in its development?

A: It is one of the top items on our development roadmap. We will release it when our technical team is satisfied with its quality.

Q: Will OceanEx be the platform for the $VTHO futures mentioned in the VeChain medium post regarding nodes / $VTHO?

A: We are not aware of any updates regarding VTHO futures

Q: What is your view on the current volume of the exchange?

A: OceanEx Beta version launched on November 30th, 2018. With the tokens listed so far, we have reached the top 3 VET trading volume among all exchanges. Moving forward, our trading volume is on track to steadily increase as we continue to expand our platform.

Q: Will the VeChain ecosystem stay the main focus of OceanEx?

A: OceanEx is within the VeChain ecosystem and is one of the VeFam projects. However, the general blockchain industry is expansive and we will bring more quality projects to our users regardless of their VeChain focus.

Q: Why is there no history of all transactions and orders? This data is of extreme importance for traders, because on this basis a taxation in the respective country must be made!

A: We have been developing a tool to pull all historical transactions of a user in a certain year upon the user’s request. This will be soon available to all users.

Q: From a scale of 1 to 10 how satisfied are you with the results of the marketing campaigns (trade competitions, referral campaigns, etc.) and do you think these campaigns add enough value to continue doing so?

A: 7/10. We are satisfied with the result of our current marketing campaigns and we have been constantly upgrading them based on their statistics and feedbacks from our users. We feel marketing campaigns in this sector are usually uninformative and sometimes look like a “cut and paste” job. We want to make something different so people do not just come for the prizes but rather to share it with their friends because they like the concepts and designs.

Q: What security measures are planned for the future?

A: The next phase of our security measures includes advanced data-driven security where our artificial intelligence module OceanBrain will learn from internal data flow and automatically terminate any detected threats

Q: How big is the OceanEx Team?

A: 50 employees, globally.

Q: Is OceanEx an exchange that plans to not only appeal to your average investor, but also enterprises and government?

A: Institution registration is open to enterprises and government collaborations. Please refer to https://support.oceanex.pro/hc/en-us/articles/360021593352-Institutional-Registration-is-Officially-Open

Q: Can you comment on recent accusations that most of the volume on OceanEx is wash trading?
Q: Does the fake volume in the trade book (v.small amounts at regular time intervals at prices nonexistent in the orderbook) contribute towards the 24h volume you list for each market? Why are there fake trades in the trade book?

A: We do not fake volume. There are API users running their market making trading strategy on the exchange to profit from bid/ask spreads by providing liquidity. By doing so, they may need to place both bid/ask orders at the same price/time to provide price guidance to attract more users’ attention and then place bid/ask limit orders near the last-traded price, hoping more users trade with them (they can arbitrage between different exchanges). These users are providing liquidity to other users.

Q: Can I expect OCE launchpad in future, just like the way, Binance launchpad initiated?

A: Yes, we will have a similar product coming in the near future.

Q: When will margin trading be added to the exchange?

A: You can expect it later this year.

Please stay tuned and follow us on our official channels:

Twitter — https://twitter.com/OceanexOfficial

Telegram — https://t.me/OceanEx_Official