OKEx becomes first major exchange to list Shiba Inu’s SHIB token


OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the listing of SHIB, the first native crypto asset of the Shiba Inu network. Deposits of SHIB opened over the weekend, and the token can now be traded against USDT on the OKEx spot and perpetual swap markets. Withdrawals opened at 10:00 am UTC on May 10.

SHIB, also known as a “meme coin,” has emerged as a top 30 cryptocurrency by market capitalization, according to CoinMarketCap. Dubbed the “Dogecoin killer,” SHIB is an ERC-20 token that started as an experiment to create a spontaneous decentralized community. With the goal to ensure a fair distribution of tokens, the founders put away 50% of the total SHIB supply in Uniswap, while the rest were burned in honor of Vitalik Buterin, one of the co-founders of Ethereum. SHIB is the first cryptocurrency token to be listed and incentivized on ShibaSwap — the Shiba Inu project’s own decentralized exchange.

“We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs. As an exchange, we are delighted to be able to offer a diverse portfolio of cryptocurrencies, including memetic tokens, to allow a comprehensive investment experience for our valued customers. The Shiba Inu community has been gaining strong momentum from the weekend deposits, and we look forward to witnessing its robust development. We are happy to be the first major exchange to offer SHIB to open the crypto gateway to these enthusiasts,” said OKEx CEO Jay Hao.


OKExChain welcomes Cosmostation validator node operator among six other partners to its rapidly expanding ecosystem


OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that the team behind the open-source public OKExChain has partnered with Cosmostation, an enterprise-level validator provider and end-user application developer. This collaboration marks the latest in a series of important partnerships — covering wallet providers, smart contract auditors, blockchain security specialists, and DeFi DApp developers — all serving to expand its rapidly growing ecosystem.

Cosmostation was designed to slot into the infrastructure of various proof-of-stake networks, with a particular focus on those built using Tendermint Engine and Cosmos SDK, such as OKExChain. Acting as a validator node on the network, the integration of Cosmostation will allow users on the OKExChain to easily and safely stake their tokens to earn rewards. To date, close to $3 billion in assets are already being staked using Cosmostation infrastructure.

In addition to efficient node operation, Cosmostation provides secure, user-friendly tools — such as noncustodial mobile and web wallets, as well as the Mintscan Block Explorer — and will be supporting OKExChain users across its product range. Its Mintscan Block Explorer is currently being used as the official Cosmos ecosystem explorer by the majority of exchanges and has been developed to meet the high specifications of Cosmos SDK-based networks.

Six other major partners have also joined the OKExChain ecosystem this quarter, including blockchain security experts, smart contract auditors and cybersecurity experts: Chains GuardBeosinCertikPeckShieldKnownSec and Chaitin. Each of these reputable security-oriented providers are helping to shore up OKExChain’s infrastructure for massive wider adoption, making it scalable and resistant to hackers and coding errors.

OKEx CEO Jay Hao commented on the latest partnerships:

“We’re extremely impressed with the work the OKExChain team has done so far in building out its ecosystem to make it as robust and user-friendly as possible. We’ve seen several major partnerships already this quarter and are thrilled to welcome Cosmostation as a trusted node operator on OKExChain. With its dedicated focus on trading, OKExChain is cementing its role as a serious contender in the DeFi economy.”

OKExChain has been following a phased launch since December 2020 and is preparing to switch on its EVM-compatible feature in the fourth, and final, stage. This means that developers on the Ethereum blockchain currently challenged by high network congestion and fees will be able to easily migrate their applications to a secure, decentralized chain with high throughput, low transaction fees and the support of some of the most respected names in the industry.


OKEx wallet integrates Unstoppable Domains to improve UX and enable faster payments

OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the wallet integration of leading blockchain domain provider Unstoppable Domains. As of now, rather than having to share a lengthy combination of letters and numbers to receive payment to their OKEx wallet, users can simply provide a domain name, like jon.crypto or ema.zil.

Another key benefit of this integration is that users can receive any cryptocurrency supported by both OKEx wallet and Unstoppable Domains to the same domain – rather than having to provide separate 40-character addresses for payment in different currencies. This greatly simplifies the user’s experience and makes sending and receiving payments faster and easier.

Blockchain domains are also censorship-resistant. Unlike regular domains on the existing internet that can be taken offline, it is impossible to deplatform on the decentralized web. No one can access or take down a domain other than its owner. As a San Francisco-based company backed by Draper Associates and Boost VC, Unstoppable Domains is on a mission to “set the internet free,” and has received grants from both the Ethereum and Zilliqa Foundations.

“The integration of OKEx’s wallet with Unstoppable Domains highlights our commitment to simplifying the user experience and helping onboard more people to crypto. It also demonstrates OKEx’s continued support for the furtherment of the decentralized web. Along with additional upgrades to the exchange, such as real-time settlement for all futures and perpetual swaps, we’re making key strides in improving the trading experience for all,” commented OKEx CEO Jay Hao.

As a pioneer in Web 3.0, Unstoppable Domains has already launched thousands of websites in the decentralized web, registering more than 250,000 domains to date. The integration with OKEx wallet will help to set a new standard for crypto wallets and drive blockchain domains into the crypto mainstream.


OKEx deepens commitment to users listing a further 6 innovative projects last week

OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has strengthened its commitment to delivering the widest product diversity for its users by listing six new innovative projects last week. OKEx users can now invest in some of the most in-demand tokens in the industry with reduced trading fees thanks to OKEx’s ongoing user loyalty campaign.

Earlier last week, spot trading pairs of popular tokens API3, COVER, HEGIC, PICKLE and KP3R went live against USDT with trading pairs against BTC and ETH available one hour later. Deposits and withdrawals of these five tokens has now opened. Spot trading of NuCypher’s decentralized cryptological network token NU will be available from today, Dec. 11.

With the addition of these latest cutting-edge blockchain protocol tokens, OKEx once again reinforces its support for the furtherment of the DeFi industry as well as the continued development of the decentralized web.

Cover Protocol (COVER) provides peer-to-peer coverage with fungible tokens, allowing the market to set coverage prices as opposed to a bonding curve, and protecting DeFi users against smart contract risk. Hegic (HEGIC), on the other hand, is an on-chain options trading protocol built on Ethereum for trustless creating, maintaining and settling of hedge contracts, while Pickle Finance (PICKLE) provides another option for keen yield farmers, making it easy for users to earn generous compounding yields on their deposits by farming, staking and swapping.

Keep3r (KP3R), API3 (API3) and NuCypher (Nu), meanwhile, are focused on building out the decentralized web with secure tools and innovations. Keep3r is a decentralized job-matching platform for connecting external DevOps with projects. API3 provides decentralized APIs for Web 3.0 that allow developers to create powerful DApps using decentrally governed and quantifiably secure data feeds, and NuCypher is a decentralized cryptological network offering accessible, intuitive and extensible runtimes and interfaces for secrets management. Its network is permissionless, censorship-resistant and accessible to anyone.

“We are extremely pleased to see the constant avant-garde thinking that comes out of the DeFi economy, with further innovations such as Hegic’s on-chain options contracts and even more flexible yield-farming propositions from Pickle Finance. It’s also refreshing to see projects such as Cover Protocol actively seeking to protect DeFi users from smart contract vulnerabilities and make transacting in the space safer,” said OKEx CEO Jay Hao, adding:

“There are also so many fascinating sub-sectors in the blockchain industry that don’t always grab as many headlines as Bitcoin, Ethereum, or DeFi. But, we’re very excited to see the next waves of innovation in the decentralized web and cryptography.”


OKEx resumes withdrawals of digital assets


OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has restored its full range of services for its users by reopening withdrawals of all digital assets as of 8:00 am UTCNov. 26. The OKEx team ran comprehensive security checks prior to resuming normal operations of the hot wallet system to ensure the safety of users’ funds.

As part of its continued pledge to full transparency, OKEx has always maintained 100% of reserves since its inception. As such, users are able to withdraw funds with no restrictions. Alongside reopening withdrawals, the Malta-based exchange is offering generous loyalty rewards for users as a gesture of appreciation for their support and understanding during this time.

While all other operations of the exchange remained unaffected, withdrawals from OKEx were temporarily suspended on Oct. 16 to guarantee the safety of users’ assets, which remains OKEx’s number-one priority at all times. Over the years, the exchange has gained unrivaled experience in safely operating digital wallets, assets and transactions with no major security incidents.

“We are pleased to be back to operating at full capacity, with all trading activity, deposits and withdrawals functioning as expected and security measures in place to ensure the safety of user assets. Beyond continuing to provide more diverse products, trading tools and innovative solutions for our customers, the security of their funds is our primary concern,” said OKEx CEO Jay Hao.

OKEx maintains rigorous security standards to ensure the safety of digital assets through a combination of cold storage and a hot wallet system that is protected by the exchange’s online and semi-online risk-management systems, semi-offline multisignature services, big data risk-management systems and other protection mechanisms. Working together, they check for abnormal behaviors in transaction amount or frequency and delay or refuse any transactions deemed suspicious, thereby quickly preventing large withdrawals from malicious actors.

The exchange also has an extensive backup mechanism in place for private key holders to ensure that each holder can trigger the activation of the backup private key in the event of long-term incapacitation, such as death or memory loss. On this occasion, however, OKEx had failed to take other specific scenarios into account, such as private key holders becoming unreachable due to unforeseen circumstances.

“We are working hard to restore user trust and will be rolling out a solution to improve our internal processes so that we can try our best to prevent this type of situation from happening in the future,” Jay Hao added.

OKEx has secured its reputation and position as a world-leading exchange through its continued innovation and diverse product offering as well as strict adherence to laws and regulations around the world, establishing robust Know Your Customer checks and anti-money laundering mechanisms. Building on its solid platform and loyal user base in conjunction with continued collaboration with regulators, OKEx looks forward to continuing to serve customers and furthering the development of the blockchain space.