CEO of the OKX cryptocurrency alternate, Jay Hao, named 5 fundamental ideas for itemizing cryptocurrencies on the platform.
Jay Hao posted on his X account that many pals are urging him to stake extra BRC-20 tokens. Nevertheless, he defined why this technique isn’t appropriate for OKX.
The pinnacle of the cryptocurrency alternate introduced 5 fundamental ideas for itemizing particular tokens on the alternate. He indicated that earlier than deciding to record crypto property, one should depend on the next elements:
- Blockchain expertise and token-based product
- Recognition of the token locally
- The founder and workforce are long-term builders.
- Laws and Compliance Overview
- Refusal to record “shitcoins”
“I need to make clear, as an alternate if we use the only technique that’s simply record all tokens, I consider it could assist alternate market extra fast cash, however will destroy the market.”
Jay Hao, OKX CEO
Jay Hao additionally famous that OKX by no means needed to be probably the most aggressive itemizing alternate within the trade. Though OKX isn’t probably the most distinguished trade chief, it nonetheless has a long-term philosophy, comparable to constructing infrastructure, not being evil, being as clear as doable, and all the time counting on expertise.
Final week, buying and selling quantity on the OKX NFT market exceeded $60 million, surpassing the Blur and OpenSea platforms. Analysts attribute this development to elevated BRC-20 and Bitcoin (BTC) Ordinals tokens buying and selling volumes. The success of the crypto alternate was as a result of, in Might 2023, OKX added the flexibility to commerce Bitcoin Ordinals and BRC-20.