OKCoin will list the Avalanche as part of its broader campaign to give DeFi users greater control over fees and trading opportunities.
Avalanche announced yesterday that its native token, AVAX, will be listed for trading on OKCoin and will make the first stock exchange listing in the US. The San Francisco-based cryptocurrency exchange is licensed in 44 US states.
AVAX public and private sales were initially only available to accredited investors in the US, and most Americans were prevented from purchasing cryptocurrency in order to comply with US securities laws. Now that Avalanche has received its first legal listing by the US, we can see that the increased demand for the token raises its price.
Open source platform Avalanche confirms transactions instantly and is the first smart contracts platform to process more than 4,500 transactions per second. This contributed to the decision to list the token as part of OKCoin’s broader initiative to provide more trading opportunities and lower fees to DeFi users, as well as a growing number of decentralized finance (DeFi) projects built on Avalanche.
OKCoin also recently started offering its customers the chance to win up to 20% with stablecoin by staking in DeFi protocols with the launch of its own ‘Earn’ product, out of control.
Avalanche-Ethereum Bridge (AEB), developed by Chainsafe, Avascan, POA
Network, Hashquark, Protofire and Meter.io, facilitates the smooth flow of assets between different networks. Many applications committed to local integrations in Avalanche will benefit from AEB, including bZx, UNION, YIELD Application and Reef Finance last month only. e-Money is also launching Digital Euros and European stablecoins on Avalanche.
There was also the announcement yesterday that Avalanche will integrate with the Chain Agnostic DeFi Aggregation layer Frontier. The Frontier Application, which will be completed in March 2021, will naturally support AVAX staking, NFTs and TrueUSD (TUSD).
AVAX trading went live on OKCoin on February 3 at 22:00 ET (February 4 at 03:00 GMT) and withdrawals begin today. The crypto exchange will also hold an AVAX airdrop specific to the listing. OKCoin customers who registered until 23.59 am PST on February 15 (7.59am GMT on February 16) will have the opportunity to participate in an airdrop of up to $ 1 million.