Avalanche’s AVAX Token Added To Crypto Exchange OKEx

Announcements, Blockchain, News | September 23, 2020 By:

Cryptocurrency spot and derivatives exchange OKEx has announced the listing of Avalanche‘s AVAX token on its platform.

Avalanche claims to be the first smart contracts platform able to confirm transactions in less than one second that supports the entirety of the Ethereum development toolkit. AVAX is the native token of the Avalanche platform and is primarily used to secure the network through staking, pay for operational fees, transfer value peer-to-peer, and create new networks on the Avalanche platform.

In a press release, OKEx said that AVAX deposits opened at 8:00 am UTC on Sept. 22. Spot trading against USDT commenced at 8:30 am UTC, while trading pairs against BTC and ETH went live 30 minutes later at 9:00 am UTC. There will be zero transaction fees on all three trading pairs.

In addition to listing this high-quality DeFi trailblazer, OKEx is holding a round of voting to select the next two EOS DeFi tokens to list on its platform. The candidates for listing include DefiBox (BOX), DeFis Network (DFS), DMD (DMD), Organix (OGX), Newdex (NDX) and TokenPocket (TPT).

“Users can vote for their favorite candidate by depositing tokens of the project they would like to see listed, either directly into their OKEx accounts or by generating a wallet address not connected with their OKEx account,” the exchange said. “At the end of the voting process, the tokens will be counted from both sources to select the winners, and the top two projects will be officially listed on OKEx.”

OKEx CEO Jay Hao said that in order to optimize their listing standards and make OKEx a platform that truly reflects their users’ will, they have decided to take user preferences into consideration even further.

“We will never stop our quest of finding the highest quality projects with groundbreaking technology, like Avalanche, for our global users,” Hao said. “With the characteristics of fast settlement, low latency, higher throughput, robust and efficient scalability, and tolerance to Byzantine attacks, Avalanche has truly redefined DeFi infrastructure.”

Alongside its support for DeFi, OKEx continues to scout out up-and-coming altcoins, also listing blockchain information instigation platform INX on Sept. 22, as well as decentralized service ecosystem Anchor Neural World (ANW) on Sept. 24.