OKEx Adds New Pairs for Margin Trading

The users of OKEx can borrow tokens, executing positions with 3 times of their capital
11 April 2018   396

The cryptocurrency exchange OKEx lets its users be involved in a margin trading of tokens. The users can borrow tokens, executing positions with 3 times of their capital. The important thing is that the potential return is therefore maximized, but so is the potential loss. Also, the users can short sell positions by selling borrowed tokens and buying back after a period of time to earn the difference.

On April 11, OKEx has announced adding 7 new trading pairs for margin trading. Among them are:

  • BCH/USDT
  • LTC/USDT
  • ETH/USDT
  • ETC/USDT
  • ETC/BTC
  • IOST/BTC
  • QTUM/BTC

What is more, OKEx warned its users that they should carefully evaluate the intended investments in light of their knowledge, experience, financial positions and objectives in order to avoid unexpected losses.

Previously, we have reported that OKeX was among those exchanges which had warned users of a fraudulent Centra ICO project and announced their plans to delist CTR tokens.

Crypto Exchange White Label Service launched by OKEx

OKEx, one of the biggest exchanges in the world, has declared the run of a crypto exchange creation programme ‘Digital Asset Exchange Open Partnership Program’
20 June 2018   297

The announcement claims that the programme is intended to “nurture a new generation of digital asset exchanges”. To establish a new crypto exchange, interested parties have to provide OKEx with a domain name, logo, and specialties of the management team. They are assured to possess “solid industry experience, quest for service excellence, and strong industry influence.”

Applicants should also deposit 500,000 OKB tokens into their accounts. This equals around $2.5 million at the present rate, according to coincodex.com. OKB is a utility token that were first sold in March of this year in packages of up to 100, each costing $100. They can be applied to settle transaction fees on the exchange and traded for Bitcoin, Ethereum and Tether.

The applicants will get access to OKEx’s fitting system (which links up buy and sell orders), cold and hot wallets (offline and online cryptocurrency storage), clearing system (which handles money transfer), client support system, and know-your-customer and anti-laundering systems. They will also get support from the OKEx technical team.

100 places are suggested by the programme in its first phase. It is anticipated to start in July. The announcement also points out the setup that the new exchanges must have. They will develop their own native tokens, and distribute them as follows:

  • 25 percent to themselves;
  • 24 percent to OKB holders;
  • and 51 percent to be mined.

OKEx explains the mechanisms by which the tokens will be mined/released. The term white label was firstly invented in the music industry - a white label vinyl record was a release so new that it had not yet been labelled, a much sought-after thing. Presently it cites to a service or product manufactured by one company and sold to another for re-sale under a different brand name.