OKEx Strengthens Commitment to DeFi, Listing 8 More Promising Tokens in One Day

OKEx Strengthens Commitment to DeFi, Listing 8 More Promising Tokens in One Day

PR Newswire

VALLETTA, Malta, Aug. 31, 2020

VALLETTA, Malta, Aug. 31, 2020 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, announced the listing of no less than eight promising DeFi tokens in just one day, reinforcing its commitment to the expanding DeFi economy. The tokens include Band Protocol (BAND)JUST (JST)REN (REN)Reserve Rights (RSR)Yearn.finance (YFI)Nexus Mutual (wNXM)YFII.finance (YFII) and Tellor (TRB), covering a range of DeFi innovations from oracles and insurance to stablecoins and liquidity providers.

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The spot trading pairs of these tokens against USDT opened from 7:00 am UTC on Aug. 28, 2020, and the trading pairs against BTC and ETH were available one hour later. Deposits of these eight tokens went live at 4:00 am UTC on Aug. 28, 2020, and withdrawals will be available from 7:00 am UTC on Aug. 31, 2020.

These new listings add to the rapidly expanding suite of DeFi tokens that OKEx has made available for its global user base, taking the total to 27 and following recent listings of popular projects including Mantra DAO's OM, the first DeFi project built on Parity Substrate for the Polkadot ecosystem, and Decentralised Information Asset (DIA), an open-source platform for transparent, community-verified price oracles for DeFi applications.

Commenting on the new listings, OKEx CEO Jay Hao said: "OKEx has been keenly observing the DeFi market dynamics and trying our best to collaborate with high-quality innovative DeFi projects that show the most potential. We are very encouraged to see so many excellent projects emerging in the market, as this also indicates that the DeFi space is developing rapidly." He added: "The decision to list eight new DeFi tokens today is far from the end of OKEx's support for DeFi projects. We are committed to continuously helping the development of DeFi and further promoting the blockchain industry."

Such a large-scale listing of tokens within one day is very rare for leading exchanges and highlights not only OKEx's capability to move quickly and adapt to the demands of its users, but it also reinforces its commitment in the potential of the decentralized finance economy.

With 27 DeFi tokens available for trading on its platform, OKEx is taking a leading role in this area among top-tier centralized crypto exchanges, and it has also enabled a new "DeFi category" on its website in which traders can quickly find information about DeFi coins, further reflecting OKEx's dedication to the space.

"We continue to be very optimistic about the development prospects of DeFi. We believe that DeFi will become an excellent supplement to the traditional financial system thanks to its core qualities of high-efficiency, high-security, low-friction and low costs," Jay Hao added.

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options -- of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

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