OKEx catalyzing the global blockchain adoption

Syed Shoeb
Nov 6 · 4 min read

When we are trading in the crypto market, it is difficult to make your decisions, especially for the retail traders. Unlike institutions that may have comprehensive research teams to support their trading strategies, normal users can hardly achieve this kind of in-depth information in the market. Also, the information asymmetry makes the crypto market even more opaque for them to survive. What is worse, when it comes to futures market that has much higher volatility, there isn’t much data in the market to support the trading, which causes that you may just put the orders with your gut feeling at most of the time.

01 OKEx launches market data platform to fill the gap

OKEx, one of the global leading digital exchanges especially on the derivatives market, has launched the futures & perpetual swap market data to support their global users for a better understanding of the market insights through sufficient, timely and transparent trading data. As reported, OKEx was the top derivatives exchange in September with a total volume of 90.34 billion USD. The numerous trading data makes it possible for the exchange to establish the first-of-its-kind platform in the industry.

Fig1: Total monthly derivatives exchange volumes

More specifically, OKEx provides its registered users with access to the real-time data of futures and swap markets, including but not limited to long/short positions ratio, open interest and trading volume, trader sentiment index, etc.

Fig2: OKEx BTC long/short ratio

02 Not only market data, but users’ interest and security

In addition to the market data, OKEx also brought up the Project Info platform to provide comprehensive project information to the users, and it was also the first to introduce the delisting policy in 2018. As mentioned in the announcement, OKEx keeps track of the performance of the listed projects and reverses the right to delist/hide them if they are underperformed.

Jumpstart, the OKEx IEO platform, offers its users a chance to invest in quality projects with much lower prices. Also, according to the rules, the private sale tokens are locked while IEO tokens are not, which further enhances the user’s interests. In 2018, OKEx injected 2500 BTC into the insurance to reduce market risk after forced liquidation cases, and in 2019, the cryptocurrency exchange also set up an industry fund of 1000 BTC to support the development of the derivatives infrastructure.

03 Foster the adoption of the blockchain industry

OKEx also works hard with qualified partners to foster the blockchain adoption and development. As written on OKEx’s official medium blog, OKEx has recently established a strategic relationship with 14 new partners to facilitate the adoption of the blockchain ecosystem, covering lifestyle, network security, financial service, and other related industries.

Figure: New use cases for OKB

In addition, OKChain, the blockchain infrastructure developed by OKEx, could launch the main net in 2019, and it is aimed to further facilitate the adoption of the blockchain ecosystem. As announced, OKEx’s first decentralized exchange (DEX) will launch on OKChain and supernodes selection will also be open by then. Moreover, a variety of developers may also choose OKChain as a solid foundation to build up their applications, which in turn will help to empower the blockchain technology with the real economy industry.

04 The mission of OKEx

“It’s OK to be daring — we take it as our responsibility to innovate and push us all forward.” Jay Hao, CEO of OKEx, said on Twitter regarding the newly published article in their official medium channel. In the latest piece, the Malta-based exchange highlighted that they are committed to providing transparent market information, protecting users’ asset and trading security, offering reliable services based on the high standards, empowering the crypto community and promoting the substantial development of the blockchain industry.

Disclaimer: This is not financial advice. Opinions, statements, estimates, and projections in this message or other media are solely those of the individual author(s). The content in this article is not sponsored by anyone and the views mentioned in this are sole of the writers. First seen on OKEx.

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where the future is written

Syed Shoeb

Written by

Thought Leader @Hackernoon and @CryptocurrencyHub | Crypto Specialist | International Business management graduate | Most viewed Crypto Columnist on Quora.

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Predict

where the future is written

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