OKEx to Represent ETH Perpetual Swaps

Under the terms of the contract, users can buy or sell ETH at a set price and certain point in the future, thanks to which they have access to both long and short positions
26 December 2018   490

Maltese cryptocurrency exchange OKEx announced the launch of a new financial instrument on its platform - an perpetual swap on Ethereum.

Users got the new tool today. It allows you to trade cryptocurrency with leverage up to x40. Its mechanism is in many ways reminiscent of a futures contract with the difference that a perpetual swap does not have an expiration date. The cost of each contract is $ 10.

Under the terms of the contract, users can buy or sell ETH at a set price at a certain point in the future, thanks to which they have access to both long and short positions. To determine the price of the instrument in equal shares, data from the exchanges Bitstamp, OKEx, Bitfinex, GDAX and Gemini are used in pairs with USD and BTC.

The launch of a similar derivative for Bitcoin took place earlier this month.

Also in the near future, OKEx promises to launch perpetual swaps on Litecoin, Ethereum Classic, XRP, Bitcoin Cash and Bitcoin Satoshi Vision, which will be announced separately.

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   134

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.