Ethereum News

Spot Trading Platfrom OKEx lists OXT token; Trading to Begin from 30th March

The global cryptocurrency derivatives and spot exchange platform OKEx is adding the Orchid (OXT) token for trading. The deposit and withdrawal of OXT tokens on OKEx will be functional from March 27th and 31st at 09:00 UTC respectively. OXT/BTC and OXT/USDT spot trading functionality will be available from March 30th. 

OXT has gone through all the review procedures of OKEx. It has successfully met all the required criteria to be listed on the exchange. These include – legal qualification, business model, structure, promotions, etc.

About Orchid and OXT

OXT is a utility token that enables the trading of VPN bandwidth on the Ethereum-based Orchid peer-to-peer open marketplace. To put it simply, the Orchid platform offers online privacy to users by allowing them to buy and sell decentralized VPN bandwidth from a global pool of service providers. This VPN bandwidth is powered by high-performance onion routed circuits.

Bandwidth service providers run an Orchid server software and stake OXT in an Ethereum directory smart contract to attract traffic. In this manner, they generate revenue in proportion to the size of the stake deposits.

From the CEOs’ desk

Talking about the collaboration, Jay Hao commented, “Orchid is a perfect case to show how the combination of a token economic model and commercial application works. We are happy to be able to have OXT as a member of the OKEx ecosystem, where we strive to offer professional and retail traders one-stop trading services while promoting mutually with the project teams. We will continue to find quality investment projects and provide enhanced trading experience for our global users.” 

Dr. Steven Waterhouse, the CEO of Orchid is also very optimistic about the latest collaboration. He is of the opinion that OKEx will provide a scaling platform to Orchid, that will help it to reach more users across the world who can benefit from the Orchid marketplace. 

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