Q&A With Andy Cheung From OKEx

How to be best suited for a listing on OKEx

The Capital
Nov 6, 2018 · 5 min read

Hello Andy, thanks for joining me today! Can you give me a short introduction to you and OKEx and its history?

OKEx is a digital asset exchange founded in 2017 and offers various token-to-token trading services to millions of customers worldwide. I have witnessed and participated in many of our bold moves since OKEx was founded. We are very proud to pioneer in many aspects, such as being the first exchange to offer futures trading to the market, to launch the first-of-its-kind Open Partnership Program to nurture new exchanges, and to carry out the industry’s first token delisting mechanism to protect our customers.

So I understand that you have no listing fee on OKEx, so how exactly does it work?

We do not charge any fee for listing, but we do require two funds. One is a security deposit. This is a reserve for compensation to our users in case a listed project encounters a serious issue, such as critical flaws or data theft. The security deposit will be fully returned to the project team if nothing happens. Another one is a marketing fund, which is for us to hold engagement campaigns across our channels to incentivize the project’s supporters to trade on OKEx, and also to make the project known to our users. This is mutually beneficial for the project team and us.

You’ve learned from your past mistakes and now have laser vision on fraudulent projects. How do you make sure that the projects listed on OKEx won’t turn out to be a so-called “scam”?

Even before a project gets listed, our business development team and audit team would scrutinize the project to make sure the product is technically feasible, the core team members credible, and the company financially stable. After listing, our audit team will still regularly monitor on its status. But, as you know, things can change in the blink of an eye in the blockchain space. If a project, unfortunately, goes wrong in any way, our delisting mechanism will kick in to ensure the best benefit of our users and our ecosystem.

Can you give a quick example of how to/how not to apply for OKEx?

My team has prepared a quick listing guide on our Medium. If you can say yes to all those eight questions in the article, I think your project is getting pretty close to getting listed. The next thing to do is to reach out to us.

What makes OKEx different from other exchanges?

I think our slogan speaks it all.

We are particularly bold in connecting blockchain innovations to their earnest supporters. We do so by offering a wide array of digital asset trading services to our users as well as creating a thriving ecosystem for different project teams to grow upon. Simply put, we dare to make happen.

What do you usually look for in a project, in order to list it on OKEx?

A far-sighted business plan, killer product, well-developed technology, promising roadmap, better with a loyal user base, and a reliable team to make them happen.

What are the biggest turn-offs for OKEx?

Opacity is a big no-no. We have to be very responsible forour users’ interest when deciding which projects to be listed on our platform. So, we want all project teams to be very honest with us about their operational status and future plans. We always welcome open discussions to sort difficulties out. Hiding your difficulty will only make your listing application worse.

Do you fear the wave of decentralized exchanges that is coming, and is OKEx working on a so-called “DEX” themselves?

DEX is just another technological form of digital asset exchange. I think the reason why OKEx can stay top in the industry is that we do more than just an exchange. Besides our high-speed trading services, we have also built a comprehensive ecosystem to enable our users to take part in many aspects of our business. A DEX is not in our pipeline currently, but we will explore the opportunities behind this.

If a so-called “low-cap” project wish to get listed on OKEx, what is your best advice for these projects to land a listing on OKEx?

Low-cap doesn’t necessarily mean bad. If anyone of them is confident that their listing can bring mutual benefits to them, our users, and us, please feel free to reach out to us.

In September of 2019, Altcoin Magazine will be hosting the world’s most powerful networking event exclusively for cryptocurrency projects, companies or influencers to attend. Will OKEx be attending at the first ever Altcoin Magazine Mastermind Event?

We are more than happy to attend blockchain events, offering our insights and experience in the industry. If the event fits our schedule, why not?

Is OKEx working on something behind the scenes, and can we get a hint on what it might be?

As announced a few months ago, we are establishing a security token trading platform, OKMSX, with the Malta Stock Exchange. It is expected to come into operation in 2019 and we are recruiting talents for this new venture. We are also taking advantage of our new base in Malta to develop our presence in the European market. So, you may expect to see us more often in Europe.

Lastly, where do you see OKEx in a few years?

We are aiming to take lead in developing security token trading services and to establish a truly global presence, including in EMEA and LATAM regions. In the future, we will see OKEx remain at the top of the market.

Where can we follow OKEx on social medias?

Twitter: https://twitter.com/OKEx
Facebook:
https://www.facebook.com/okexofficial/
LinkedIn:
https://www.linkedin.com/company/okex/
Telegram:
https://t.me/okexofficial_en
Website:
https://www.okex.com


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The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

The Capital

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The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

The Capital

The Capital (former Altcoin Magazine) is a social financial news aggregator powered by Bitcoin

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