OKEx is among the world’s biggest cryptocurrency exchanges in terms of trading volume. On October 25, 2018 they put forward a message on their site addressing their customers regarding the delisting of certain trading pairs.
This move has come as an attempt to create, as they state, “a robust trading environment and offer the best trading experience to our users”.
In one of his tweets, Andy Cheung, Head of Operations at OKEx stated:
“As leaders, we are responsible for promoting a robust ecosystem. Listing projects loosely or having 795 trading pairs is simply putting trader interests at risks. Housekeeping is necessary. We need to take action on those underperforming tokens now.”
According to the announcement made, more than 50 trading pairs will be delisted from the exchange. The users have been warned to cancel their trades on the chosen trading pairs. If they fail to do so, the exchange, at the time of delisting, will cancel those trades automatically and send the funds to the user’s account.
These trading pairs have been chosen after monitoring their liquidity and trading volume. All those pairs which failed to meet the standard liquidity as needed on the exchange or failed to drive the desired trading volume are to be cleaned off the board. Andy Cheung also tweeted:
“Getting listed is not final. Maintaining a good performance is the key to success. At OKEx, our utmost responsibility is to ensure a robust ecosystem for our projects to grow and the best trading environment for our users to experience.”
This move might even be considered by other exchanges to free up their platform from the clutter and offer a cleaner trading experience to their users. One thing that needs to be focused on is that OKEx will only delist TRADING PAIRS but not the token themselves. The deadline for cancelling the orders is 6am, 31st October, CET (GMT +1).
In the past few weeks, Binance delisted four digital assets namely Bytecoin (BCN), Chatcoin (CHAT), Iconomi (ICN), and Trigger (TRIG) on almost similar grounds. OKEx has also announced that they would later delist Bytecoin (BCN) from their platform.
Here is the list of all the digital assets whose trading pairs the platform would remove:
|Ticker||Token Name||Trading Pair to Be Delisted|
|MAG||Maggie||ETH , BTC|
|RCN||Ripio Credit Network||ETH|
|CAN||Content and AD Network||BTC|
|GSC||Global Social Chain||BTC|
|MOT||Olympus Labs||BTC, ETH|
It has also been made clear that strict monitoring of all listed projects will be done and the delisting/hiding mechanism will be implemented for substandard projects whenever necessary. The platform announced the listing of the following four stablecoins on its platform, all at once: TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).