OKEx CEO on Telegram: Talks about OKChain and OKDex

OKEx CEO Jay Hao conducted an Ask-Me-Anything (AMA) session on the English Telegram group to allow people to ask about things related to the OKEx ecosystem.

OKEx CEO discusses OKChain OKDex among other things

Jay stated that the exchange has clear and harsh criteria for listing coins and tokens on their exchange. He added that these rules are transparent, and OKEx wants to list only quality projects at the exchange. He added that the exchange had taken certain steps to prevent malicious actors from using the exchange for market manipulation.

He then discussed user security and made it clear that the company made it an utmost priority. He stated that the company protects user data, funds, and privacy and that it was “second to none.” The exchange has divided user assets in multiple cold wallets with each wallet holding around 500 Bitcoins only. This way the risk of losing funds could be reduced

He then discussed OKChain and OKDex and confirmed that OKCHain is under development and is close to completion. He revealed that the blockchain was in the final phase of testing. He stated that the network would provide banking facilities to the unbanked with OKDex becoming its first DApp. OKDex is a decentralized exchange that will be deployed on OKChain. The network would operate by circulating OKB and support various fields such as finance and lifestyle services.

He then highlighted that the platform provided a wider range of products compared to its rival exchanges. Jay Hao believed that it could be a way to surpass competitors. Also, he said that OKEx’s super matching engine helped support its wide range of products and maintained a stable and reliable environment.