Tag: Okx

OKX Joins Forces with Solana Mobile

by Blockchain News

Crypto exchange OKX has entered into a partnership with Solana Mobile. This alliance will see the OKX app becoming a part of the dApp store on the Solana Saga smartphone. With this integration, the OKX app is among the early exchange applications available on the device, offering users access to OKX’s Web3 solutions.

The Solana Saga smartphone is recognized for its potential in enhancing mobile access to Web3. Such partnerships are anticipated to redefine the way decentralized applications and services are accessed and utilized by users globally.

Jason Lau, Chief Innovation Officer at OKX, shared his views on the collaboration, emphasizing the expansive possibilities of Web3. He mentioned that by combining OKX’s range of products with the Solana Saga smartphone, they aim to broaden the everyday accessibility to the decentralized Web3 ecosystem.

OKX, known in the tech space for its contributions to the Web3 domain, has a variety of offerings:

  1. The OKX Wallet, which supports over 50 blockchains and features MPC technology for enhanced security.

  2. DEX, an aggregated decentralized exchange platform.

  3. An NFT Marketplace that lists NFTs from multiple marketplaces.

  4. A Web3 DeFi platform that caters to various protocols.

The company’s collaborations span various sectors, including associations with entities like Manchester City F.C. and McLaren Formula 1. Recently, OKX initiated a campaign titled “The System Needs a Rewrite,” highlighting the potential shift towards Web3 technologies.

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OKX and Polygon Introduce Cryptopedia’s Seventh Season

by Blockchain News

OKX, in collaboration with Polygon, an Ethereum scaling and infrastructure development entity, unveiled the seventh iteration of Cryptopedia. Cryptopedia, OKX’s platform, is tailored to facilitate crypto-centric education with an earning component, according to press release shared with Blockchain.News by OKX.

Spanning six months, this season offers participants the opportunity to earn MATIC rewards, a gesture from Polygon. Additionally, those engaging in DApp interactive quests can avail themselves of extra rewards, presented by associated project partners. These quests aim to promote the utilization and understanding of the diverse DApps housed within the OKX Wallet.

To engage in Cryptopedia’s seventh season, users can initiate the OKX App, select the Wallet option, and either generate a new wallet or integrate a pre-existing one. Subsequently, they can tap on the Discover section and proceed to Cryptopedia: Learn to Earn. From there, they can interact with the Polygon zkEVM page and opt for their preferred DApp. After completing the quest, a verification can be done following a 10-minute interval.

Some of the quests include staking stMATIC to acquire DUSD, executing a cross-chain DUSD transfer, and offering liquidity for the DUSD/USDC pair on QuickSwap, among others. It’s worth noting that specific terms and conditions are applicable.

Simultaneously, OKX Wallet introduced the Discover Event, marking the debut of Token 2049 in Singapore. This event functions as a Web3 offline event aggregator, enabling users to explore, earmark, and register for various Web3 offline events. It also incorporates a streamlined NFT ticketing system.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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OKX Announces Largest-Ever Trading Competition with 2M USDT and Tesla Model 3 as Prizes

by Blockchain News

OKX, a global Web3 technology company and crypto exchange, has launched its most ambitious trading competition to date, featuring a prize pool exceeding 2 million USDT and a Tesla Model 3. The competition, part of the company’s “Trade Like a Pro” campaign, is set to commence on September 20 and will focus on trading USDT perpetual contracts.

Team-Based Competition with Eligibility Criteria

The competition is designed to foster community engagement and will be conducted in a team-based format. OKX affiliates who have completed their KYC process can apply to become team leaders. To qualify as a team member, users must hold at least 100 USDT in assets. The first 200 qualified participants to register will receive a 10 USDT contract voucher.

Registration for team members is open from September 8 to October 3, while team leaders can register until September 20. The competition itself will run from September 20 to October 3.

Unlockable Prizes for Mass Participation

Should the competition attract more than 25,000 qualified participants, additional prizes such as an Apple Watch S8s, Airpods Pros, and iPhone 15 Pros will be made available, alongside the Tesla Model 3.

Prize Distribution Details

Upon the competition’s conclusion, a prize pool of up to 1.5 million USDT will be distributed among the top 20 teams based on their profit and loss percentage (PnL%). An additional 500,000 USDT will be awarded to the top 15 individual traders, also based on PnL%. The team leader who amasses the highest number of team members will receive up to 16,000 USDT.

Strategic Move in OKX’s Brand Campaign

Haider Rafique, OKX Global Chief Marketing Officer, stated, “This trading competition is a planned next step to our latest ‘Trade Like a Pro’ campaign. Our goal is ultimately to have the best traders on our platform. This competition brings the best talent together in the OKX trading grounds.”

The “Trade Like a Pro” campaign was initially launched on August 14 and features real users sharing their experiences with OKX products in 45- and 15-second video spots.

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OKX NFT Adds Base, Linea Support, Beyond Ethereum, Optimism, Polygon

by Blockchain News

OKX, a key player in the Web3 technology landscape, broadened its NFT Marketplace’s capabilities by integrating support for Base and Linea blockchains on September 5, according to press release shared with Blockchain.News. This move follows the company’s earlier decision to include Base and Linea in its wallet services, thereby extending the marketplace’s compatibility to 17 different blockchains.

OKX has already supported NFTs on Ethereum, Solana, Binance Smart Chain, Polygon, OK Chain, Immutable X, Aptos, Optimism, Klaytn, Arbitrum and Avalanche Chain.

Base and Linea: A Technical Overview

Base, an Ethereum Layer 2 (L2) solution, is built on the open-source Optimism Stack. It aims to tackle the blockchain trilemma of scalability, security, and decentralization by offering interoperability and composability for participating rollups. The inclusion of Base also brings liquidity from OpenSea, a major NFT marketplace, into the OKX ecosystem.

Linea, a project by ConsenSys, employs Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) cryptography technology. The Ethereum L2 solution is designed to enhance transaction throughput while maintaining a secure environment, aligning with the broader push for scalability in the Ethereum network.

OKX’s Multichain Strategy

The OKX NFT Marketplace is notable for its extensive multichain support, accommodating over 11 blockchain networks. It serves as a centralized hub for NFT transactions, including buying, selling, trading, and collecting, making it one of the most comprehensive platforms in the Web3 space. Major NFT marketplaces like OpenSea, LooksRare, and Magic Eden are among those supported.

Strategic Implications

While OKX has been known for its partnerships with high-profile brands and athletes, including Manchester City F.C. and McLaren Formula 1, the company’s core focus remains on technological innovation. Its recent global brand campaign, “The System Needs a Rewrite,” underscores its commitment to challenging the status quo through Web3 technologies.

The integration of Base and Linea is more than a mere addition of new features; it’s a strategic move that could have ripple effects across the NFT and blockchain sectors. By supporting a diverse range of blockchains, OKX positions itself as a versatile platform capable of adapting to the evolving needs of the Web3 community.

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OKX (OKB) Expands Institutional Trading Capabilities with New Features on Nitro Spreads

by Blockchain News

OKX, a global crypto exchange trusted by over 50 million users and recognized for its contributions to Web3 technology, announced a series of significant updates to its institutional trading tool, Nitro Spreads, according to press release shared with Blockchain.News by OKX. The enhancements aim to expand the platform’s capabilities and include the introduction of crypto-margined spreads, WebSocket trading, and a broader range of market options. It remains uncertain how the new features will impact OKX’s platform token, OKB.

OKX has added crypto-margined spreads to Nitro Spreads, a feature that allows traders to hedge their positions more effectively. This addition is expected to enhance OKX’s Liquid Marketplace, a liquidity network for over-the-counter (OTC), futures spreads, and options. The integration of WebSocket trading enables quicker transactions compared to platforms that solely rely on REST APIs, aligning Nitro Spreads with the high-frequency trading capabilities already available on the main OKX exchange.

The platform now also offers a wider array of market options, including spreads on weeklies and quarterlies of inverse contracts.

Spreads on these futures did not exist on OKX before the introduction of Nitro Spreads,

the company stated. This addition is part of OKX’s ongoing strategy to diversify its product offerings and better cater to the needs of institutional clients.

Since its launch, Nitro Spreads has seen a cumulative trading volume of US$500 million, with some of the largest trades involving hundreds of BTC and 1,000-2,000 ETH. The platform is currently available to select institutional traders who apply for early access, and it will be opened to all of OKX’s institutional clients in the coming weeks.

OKX recently released the first report in a series of institutional market analyses, titled ‘How OKX’s Nitro Spreads tool can help institutional investors navigate volatile markets.’ The report found that Bitcoin delivered 98% of its returns on just eight trading days out of 180 from January 1 to June 30, 2023, emphasizing the difficulties of timing stable returns in volatile markets.

The exchange is known for its speed and reliability and publishes its Proof of Reserves on a monthly basis. OKX also collaborates with various sports and entertainment entities, including English Premier League champions Manchester City FC and McLaren Formula 1, as part of its broader initiative to engage more creators in the Web3 space.

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OKX Wallet Integrates Oxalus, Aark Digital, KiloEx, and Pendle in One Week

by Blockchain News

In a span of just one week, OKX Wallet has announced a series of integrations that diversify its offerings and solidify its position in the blockchain and cryptocurrency landscape. As of September 3, 2023, the latest addition to OKX Wallet’s ecosystem is Oxalus, a specialized NFT social commerce platform, according to press releases shared with Blockchain.News by OKX. This integration follows closely on the heels of partnerships with Aark Digital on August 30, as well as with Pendle and KiloEx on August 29.

The rapid-fire sequence of integrations commenced with the tie-up with Aark Digital, a Peer-to-Pool perpetual DEX platform designed explicitly for professional traders. As a result of this integration, OKX Wallet users now have access to advanced trading features, an expanded set of trading pairs, and robust liquidity options. This move not only enhances asset utility for the user base but also aligns seamlessly with OKX’s ongoing efforts to accommodate more seasoned market participants.

On August 29, the wallet integrated with Pendle, a permissionless yield trading protocol. This functionality allows OKX Wallet users to optimize yield earnings on their digital assets. It complements the platform’s broader vision to democratize financial systems via decentralized technologies. On the same day, OKX Wallet expanded its reach further into the realm of decentralized exchanges by integrating with KiloEx. This perpetual DEX focuses on risk management and capital efficiency, allowing users to tap into perpetual swap exchanges, staking, and bridge solutions. This particular development caters to risk-averse users who are seeking more balanced capital allocation and management options.

Capping off the week, the most recent integration on September 3 brought OKX Wallet into the burgeoning field of NFTs via its partnership with Oxalus. The NFT social commerce platform enables users to connect, trade, and stay updated on market trends, providing a well-rounded social and commercial experience within the NFT ecosystem.

Each of these four integrations serves a different subset of the crypto community, ranging from professional traders and yield-maximizers to risk managers and NFT enthusiasts. OKX seems to be setting an aggressive pace in its mission to build a versatile and comprehensive Web3 technology suite, targeted to meet diverse user needs in the fast-evolving crypto world.

In sum, OKX Wallet has significantly broadened its horizons through these calculated partnerships, further entrenching its place in a competitive marketplace. As part of OKX’s broader strategy, these developments stand as evidence of the company’s commitment to offering a comprehensive set of Web3 solutions. The speed and diversity of these integrations not only bolster OKX Wallet’s utility but also send a clear message to the market about OKX‘s ambitions and capabilities.

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OKX Discloses Monthly Proof of Reserves, Holding $10.4 Billion in BTC, ETH, and USDT

by Blockchain News

OKX, a global Web3 technology firm and cryptocurrency exchange, disclosed its 10th consecutive monthly Proof of Reserves (PoR) report today. The report shows that the exchange holds USD$10.4 billion in primary assets, such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

In an effort to understand public sentiment about PoR and transparency, OKX conducted two Twitter polls. The data reveals that 84% of respondents consider monthly PoR reports to be either ‘somewhat important’ or ‘very important.’ Additionally, 88% of respondents indicate that transparency is a significant factor in choosing a crypto platform.

The August PoR report from OKX encompasses 22 commonly traded digital assets and demonstrates that the exchange has maintained a reserve ratio above 100% for ten consecutive months. The reserve ratios for BTC, ETH, and USDT are currently 102%, 102%, and 103%, respectively. Lennix Lai, OKX Global Chief Commercial Officer, stated, “The 38% increase in assets under management on OKX coincides with our focus on transparency, as indicated by our monthly PoR reports.”

Since the launch of its PoR page in late 2022, the exchange reports that hundreds of thousands of users have engaged with its open-source verification tool. This tool enables users to independently verify the solvency of OKX while maintaining their privacy. To date, the exchange has made over 210,000 addresses public for its PoR program.

OKX plans to continue publishing monthly PoR reports and is developing tools for user verification of its solvency and asset backing.

The firm, which has over 50 million global users, is known for its crypto trading services and publishes its Proof of Reserves on a monthly basis as part of its operational transparency.

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OKX and CoinRoutes Expand Partnership: Institutional Crypto Trading Services Enhanced

by Blockchain News

OKX, a global beacon in the crypto exchange and Web3 technology realm trusted by over 50 million users, and CoinRoutes, renowned for its algorithmic trading strategies and standing as a pinnacle in institutional-grade crypto trade Execution Management System (EMS), have announced the deepening of their collaboration. This OKX CoinRoutes collaboration aims to provide a comprehensive suite of API-enabled trading services, specifically tailored for the growing demands of institutional users.

Institutional clientele with an active OKX account can now seamlessly execute trades on OKX via the CoinRoutes platform. This interface, a testament to CoinRoutes advanced trading algorithms, offers a blend of market data visualization and a unique transaction cost analysis tool, ensuring optimal trading efficacy. The platform supports diverse order types, including automated spread trading, emphasizing the versatility of digital asset trading solutions.

Lennix Lai, OKX’s Global Chief Commercial Officer, commented on the OKX CoinRoutes partnership 2023, “Our deeper integration with CoinRoutes, a global giant in crypto order execution management systems, equips our institutional user base with an unmatched ally for refining trading approaches. This strategic move not only broadens our broker horizon but also amplifies the products, services, and incentives available, setting a new benchmark in the institutional crypto trading services domain.”

Dave Weisberger, CEO and Co-founder of CoinRoutes, shared his perspective, stating, “Our alliance with OKX, a global leader in cryptocurrency exchanges, aligns perfectly with our mission. We aim to offer the most comprehensive digital asset trading solutions to our global clientele. By harnessing OKX’s vast liquidity and unparalleled transparency, we’re poised to redefine trading strategies, ensuring superior execution. This partnership underscores our unwavering commitment to innovation and data-driven solutions.”

With strategic partnerships with entities like Manchester City FC and McLaren Formula 1, OKX is on a mission to redefine the crypto trading experience. The OKX Wallet, their latest venture, serves as a gateway for enthusiasts exploring NFTs, the metaverse, and more. CoinRoutes, on the other hand, offers a platform to achieve best execution across a vast network of exchanges, with their patented architecture and advanced algorithms standing as a testament to their commitment to excellence in the crypto trading landscape.

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OKX Ventures Fuels Moonbox’s AI and Web3 Ambitions with $1M Investment

by Blockchain News

Moonbox, a Hong Kong-based firm specialising in artificial intelligence (AI) and Web3 technology, has received a $1 million investment from OKX Ventures, the investment arm of the revolutionary Web3 company and global crypto exchange OKX. The news was released on August 4, 2023.

By the end of 2023, Moonbox—which is creating an interactive protocol with AI to animate different digital assets, including non-fungible tokens (NFTs)—plans to release a number of AI-powered NFTs and apps with design cues from the entertainment sector. Stephen Chow, a well-known Hong Kong actor, starred in many films, including “Journey to the West: Conquering the Demons,” “Journey to the West: The Demons Strike Back,” and “The Mermaid.” The startup has acquired the intellectual property (IP) rights to exploit these films.

Moonbox will utilise the money to drive product expansion and further improve its core technology. OKX Ventures is renowned for its worldwide investigation of high-quality blockchain companies and support for cutting-edge blockchain technology innovation. This technology focuses on developing Web3 and NFT apps that are supported by the newest generative AI technologies.

Jeff Ren, Partner at OKX Ventures, expressed enthusiasm for the potential of Web3 and blockchain technology to revolutionize the creator economy. He stated, “Combining this with AI technology brings promising possibilities for the Web3 ecosystem, and OKX Ventures is proud to play a role in that journey through supporting the work of Moonbox.”

Moonbox Senior Advisor Ignious Yong welcomed OKX Ventures as a leading investor in their first funding round and expressed confidence in the integration of AI and Web3 to make NFTs more engaging and valuable. He said, “We are confident that the integration of AI and Web3 will make NFTs more fun and valuable, creating a larger variety of use cases in the film and entertainment industries, and attracting users from all walks of life.”

OKX Ventures has a track record of investing in over 300 projects across blockchain infrastructure, Web3, NFT, and other areas, with the goal of promoting the sustainable development of the global blockchain industry. The investment in Moonbox aligns with OKX’s efforts to promote the integration of AI and Web3.

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OKX and Lifeform Launch Cryptopedia Season 5 with $300,000 LFT Prize Pool

by Blockchain News

OKX, a prominent crypto exchange and Web3 technology company, and Lifeform, a decentralized digital identity solutions pioneer, have jointly launched Season 5 of Cryptopedia, OKX’s crypto education platform. The new season, which runs from August 3, 2023, at 04:00 (UTC) to August 17, 2023, at 04:00 (UTC), features a prize pool of $300,000 in Lifeform Tokens (LFT) for over 11,000 participants.

The initiative includes five online “OKX quests” – DEX, NFT, DeFi, Discover, and Lifeform – that users must complete using the OKX Wallet. These quests are designed to encourage users to explore and learn about the wide array of DApps available on the OKX Wallet. The quests cover various aspects of the crypto ecosystem, including decentralized exchanges, non-fungible tokens, decentralized finance, and more.

The prize distribution for the participants is as follows: First Prize of $2,000 in LFT to one winner, Second Prize of $500 in LFT to 20 winners, and Third Prize of $25 in LFT each to 11,520 winners. Participants can download the OKX App, create or import a wallet, and navigate to Cryptopedia: Learn to Earn to access the interactive page and choose the DApp they want to interact with.

Specific quests include transactions on various networks, including Ethereum, BNB Chain, OKTC, Arbitrum, Optimism, Polygon, Conflux, and Fantom. The terms and conditions apply and can be found on the OKX website.

OKX is a leading global technology company driving the future of Web3. Its comprehensive suite of products includes the OKX Wallet, a cross-chain decentralized exchange (DEX), a multi-chain NFT Marketplace, and a powerful DeFi platform. OKX has partnered with top brands and athletes, including Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.

The company recently launched a global brand campaign entitled, “The System Needs a Rewrite,” advocating for a new paradigm led by Web3 self-managed technology to replace existing centralized systems. OKX believes in challenging the status quo and building innovative technology products.

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