OKEx to Launch Crypto Index Fund

The new product was named OK06ETT and will give customers the opportunity to invest in a basket of six cryptocurrencies
05 June 2018   856

One of the largest cryptoexchanges OKEx announced the launch of the cryptocurrency index fund, CCN reports.

The new product was named OK06ETT and will give customers the opportunity to invest in a basket of six cryptocurrencies through a fund whose shares will be traded on the exchange against the USDT.

At launch, OK06ETT will include bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, and OKB - the own utility token of the OKEx exchange.

Investors will also be able to buy back the fund for USDT or basic assets, which will not allow its rate to deviate too far from the net asset value.

It is noteworthy that the launch of the OKEx index fund took place a few days after a similar product was presented by the competing Huobi exchange. At the same time, the Singaporean company called its HB10 fund "the first crypto-currency ITF in the world".

By analogy with Huobi's HB10, minimal investments in OK06ETT are set at $ 100, which makes them affordable for retail investors.

OKEx to Launch Own ERC-20 Based Token

In total, 300 million OKB tokens have entered the public network and they have confirmed that are going to launch OKChain in June
29 April 2019   117

OKEx cryptocurrency exchange announced the launch of its own OKB token in the public blockchain. Starting from Monday, April 29, users will be able to display OKB tokens in wallets that support the ERC-20 standard, or in a cold storage in the exchange application.

In total, 300 million OKB tokens have entered the public network.

The developers also confirmed that they expect to launch OKChain in June. After the confidence that OKChain is working stably, OKB coins migrate from the ERC-20 standard to the main network of the new blockchain.

OKB tokens are intended primarily for the future decentralized exchange: they can be used to pay for transaction fees, as well as in decentralized applications based on OKChain. In addition, OKB will be used in the tokens' pre-sales, for voting and paying for the service fee of supernodals.

Of the 1 billion OKB, 700 million tokens are currently blocked. Of these, 300 million coins were originally to be distributed among OKEx users as part of a loyalty program. The remaining 400 million OKB will remain under the control of the OK Blockchain Foundation and Exchange teams. The lockout period will end in 2022.