OKX (previously OKEx) is among the largest crypto exchanges on the earth, offering entry to quite a lot of buying and selling devices and alternatives in each the crypto spot and crypto derivatives markets. Regardless of its success in buying and selling crypto-assets and crypto-derivatives, this yr the OKX crew introduced that it’ll concentrate on growing companies for DeFi, NFT, GameFi and Web3 as a part of its rebranding.
As well as, automated buying and selling for traditional OKX Spot is accessible on the buying and selling platform utilizing the RevenueBot service, in addition to buying and selling of OKX Futures perpetual contracts (perpetual swaps).
About OKX
OKX, identified till January 2022 as OKEx, is a crypto market newcomer. It was one of many first to supply the crypto neighborhood with entry to cryptocurrency derivatives, margin buying and selling and buying and selling bots.
OKX was based in 2017 in Hong Kong by Chinese language cryptocurrency entrepreneur Mingxing Xu, also called Star Xu. With the primary cryptocurrency derivatives within the type of Bitcoin futures showing in late 2017, OKX was capable of shortly take the lead on this market as a result of lack of excessive competitors. Nevertheless, in 2018, on account of stricter regulation of the crypto market in China and an outright ban on buying and selling tokens issued as a part of the ICO, the administration of the buying and selling platform determined to vary jurisdiction. Right now, OKX is headquartered within the Seychelles, which is taken into account among the finest jurisdictions for cryptocurrencies and blockchain startups.
OKX is owned by Okay Group, which owns one other widespread buying and selling platform, Okcoin, additionally based by Mingxing Xu in 2013. OKX initially launched as a complementary platform to Okcoin, however over time it has overtaken the previous by way of buying and selling quantity, supported buying and selling devices and property within the itemizing.
In 2018, OKX was one of many first to launch OKB Coin (OKB), a utility token for cryptocurrency commissions at a reduction. OKB can also be required to take part in tokensalуs on OKX, and may be staked to earn passive earnings on the OKX Earn platform. Till the tip of 2021, the buying and selling platform primarily targeted on growing buying and selling instruments for the crypto market, however in early 2022 the OKX crew introduced a rebranding and the launch of the entire Web3 ecosystem.
In January, the buying and selling platform modified its title from OKEx to OKX, noting that Ex (from the phrase Change) used to signify the crypto-exchange’s ambition to turn into the main crypto-asset alternate. However over the previous few years, the crypto market has moved far past simply buying and selling. The neighborhood now has entry to DeFi-protocols, metaverse, NFT and lots of GameFi-projects that will probably be an integral a part of the long run decentralized Web3 Web.
Right now, the OKX crew is growing a buying and selling ecosystem that already incorporates a multi-currency non-custodial OKX crypto pockets, a NFT market, OKC’s personal blockchain, and quite a lot of DeFi and GameFi tokens. It is usually doable to conduct automated digital asset trading on OKX, due to the RevenueBot service.
