OKEx to Launch Community-Driven Exchange

The own token of the CoinAll exchange will be mined using the trans-fee model
08 August 2018   453

Bitcoin-exchange OKEx has announced the launch of the CoinAll cryptoexchange platform, operating according to the "white label" scheme.

The launch of CoinAll, the 1st exchange under Open Partnership Program, symbolizes a new era to build a community- and project-centric open exchange, unveiling an exciting new chapter in the blockchain industry!
 

OKEx Team

The launch of the new site took place as part of the Open Partnership program, which started work in June.

Thanks to CoinAll, Open Partnership participants will be able to use the opportunities and services of OKEX, in particular, the clearing system, cold and hot wallets, AML / KYC procedures.

CoinAll also issued 10 billion CAC tokens: 51% will receive users as a reward, and 49% - co-founders of the exchange and members of the Open Partnership program. The coin will be mined using the trans-fee model, which is the mechanism for receiving tokens issued by the exchange as a reward for trading activity of traders.

At the moment, trading pairs of CAC with bitcoin, Ethereum and Tether (USDT) are available on the site.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   384

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva