OKEx (www.okex.com), one of the largest crypto currency spot and derivatives exchanges in the world, announced the launch of the OKExChain main network. Unlike other exchange chains, OKEx wanted to embody the basic openness and decentralized structure of the blockchain in OKExChain. After more than 10 iterations and extensive ongoing development on the testnet, this vision has begun to bear fruit.

 

 

OKExChain will be presented in four phases, starting from the Genesis phase from December 31, 2020 to January 13, 2021, with the second phase that will focus on mainnet application testing. In the third stage, the transaction will be performed and they will be able to pull their OCTs to OKExChain. In the fourth and final phase, the smart contract virtual machine will be enabled and OKExChain will be compatible with all projects in Ethereum with the officially launched mainnet.

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Since its initial testnet launch, OKExChain has seen significant upgrades, including open source commitment, EVM smart contract development, iterations to lower trading fees, and partnerships with projects like Waves, Achain, and DoraHacks. OKExChain has also developed an ecosystem that is not found in decentralized apps for continuous development and successful hackathon implementation.

OKEx CEO Jay Hao shared the following on the subject:

2020 has been an incredible year of transformation, and while we’ve witnessed so much pain caused by the pandemic, we’ve also seen tremendous growth in the crypto space. For OKEx it has been a year of thinking and learning and we are excited.

OKT export in OKEx Jumpstart

Printing of OKExChain’s local token OKT will begin at 16:00 UTC on December 31, 2020 and will end at 16:00 on January 13, 2020 with the first issuance of 10 million. The OKT token will be distributed proportionally to OCD holders through the OKEx Jumpstart. OKB holders can stake their OKB tokens to earn OXs. They can also unlock staked tokens at any time.
About OKEx

OKEx offers a variety of markets to manage the crypto activities of global crypto traders, miners and institutionalists, enhance investment opportunities and hedge. It offers futures, spot and derivatives trading of major cryptocurrencies and offers investors to create strategies to maximize profits and reduce risks.

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