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Academy Company Updates Article

OKEx Launches Jumpstart Mining, Adds COMP to Earn and Lists 6 DeFi Tokens

2020.09.11 OKEx

The OKEx Weekly Update gives an overview of promotions, contests, listings and discussions organized each week.

This week at OKEx, we launched our first-ever OKEx Jumpstart liquidity-mining project, ZYRO, and saw over 100 million OKB in total staked value so far. We also bolstered our OKEx Earn section with a new product for earning passive income with the Compound protocol, while OKEx Pool saw the addition of a Waves staking service.

Our DeFi ecosystem also expanded with six new tokens this week, including SWRV, BOT, SUN, NMR, MLN and REP alongside margin trading, savings and perpetual swap products for 16 DeFi tokens.

Moreover, new C2C Loan optimizations allow two new collateral options and a three-day borrowing term. Lastly, check out our YouTube channel for the fourth OKExAlts giveaway and revisit our last DeFi Talk with Luis Cuende, co-founder of Aragon. 

OKEx Jumpstart Mining Project #1: ZYRO

We launched our first OKEx Jumpstart liquidity-mining project — Zyro.finance (ZYRO) — a next-generation protocol for automated liquidity built on Zilliqa, a high-performance public blockchain.

Users can now stake their OKB to mine ZYRO and enjoy fee-free staking with no lock-up period, no minimum staking and high yield. Users can learn more about the ZYRO project and start staking now.

Compound: A new addition to OKEx Earn

Our recent expansion of OKEx Earn allows users to earn passive income via the popular DeFi project Compound, without having to pay excessive gas fees.

By depositing BAT, DAI, ETH, USDC, USDT or ZRX, users can earn loan interest and a limited-time COMP token bonus.

Waves Staking

The OKEx Pool officially launched the Waves Staking service, providing a flexible staking period with up to 5.36% annualized yield. Learn more about the rules and details.

Promotions

OKExAlts 4th YouTube Video Giveaway

Watch our fourth #OKExAlts video as we walk you through four more common types of altcoins: security tokens, utility token, DeFi governance tokens and exchange tokens. 

You can also subscribe to our YouTube channel, like the video, and follow the rules in the description box to enter our limited-time USDT 100 giveaway. The promotion will last until 11:59 pm UTC on Sept. 23. 

OKEx India P2P DeFi Raffle Draw

With multiple DeFi projects being featured on OKEx, we extended the P2P DeFi Raffle Draw promotion. Complete a P2P transaction today to share a prize pool worth 355,000 Indian rupees INR in USDT! View details and join here before Sept. 20. 

Vote for your favorite OKEx hoodie

Vote for your favorite OKEx hoodie to stand a chance to win OKB and the winning OKEx hoodie. Cast your vote before 2:00 pm UTC on Sept. 14.

New Listings This Week

OKEx listed six new DeFi tokens this week, including SWRV, BOT, SUN, NMR, MLN and REP, alongside margin trading, savings and perpetual swap products for 16 DeFi tokens.

Swerve (SWRV)

Swerve Finance is a fork of Curve, owned 100% by the community. It has a simple 33,000,000 supply that is owned entirely by holders, the community of liquidity providers and users. If holders provide liquidity to Swerve, they get ySWRV tokens, which can be staked in the Swerve DAO to earn $SWRV. 

Bounce Token (BOT)

Bounce's goal is to offer different types of auctions for individuals and projects. BOT is the governance token of the Bounce.finance platform, with a liquidity-mining mechanism to produce BOT token. 

SUN (SUN)

SUN is a social experiment that focuses on the DeFi potential of TRON. Designed as the quintessential Bitcoin equivalent on the TRON network, SUN features zero VC investments, zero PE investments, no pre-mining or reserves for the team, and it is wholly operated by the community through its open-source smart contracts. View the listing details.

Numeraire (NMR)

Numerai proposes Numeraire, a new cryptographic token that can be used in a novel auction mechanism to make overfitting economically irrational. The auction mechanism leads to equilibrium bidding behavior that reveals rational data scientists’ confidence in their models’ ability to perform well on new data. The auction mechanism also yields natural arguments for the economic value of a Numeraire token.

Melon (MLN)

Melon is an Ethereum-based protocol for decentralized on-chain asset management. It is a protocol for people or entities to manage their wealth and the wealth of others within a customizable and safe environment. Melon empowers anyone to set up, manage and invest in customized on-chain investment vehicles.

Augur (REP)

Augur is a trustless, decentralized oracle and platform for prediction markets. The outcomes of Augur’s prediction markets are chosen by users who hold Augur’s native Reputation token. These users stake their tokens on the actual observed outcome and, in return, receive settlement fees from the markets.

Margin trading, Savings and USDT-margined Perpetual Swaps 

We continue to provide more flexibility for our global users by adding perpetual swaps, margin trading, and savings for 16 promising DeFi tokens — RSR, WNXM, BAL, STORJ, BTM, LRC, ZIL and BTT, JST, REN, TRB, KSM, BAND, YFV, SWRV and SUN — all providing up to 75x leverage.

Product Upgrades

C2C Loan updates

We implemented two updates on the C2C Loan service, adding BCH and LTC as collateral options and a new three-day borrowing term. Experience a brand-new way to borrow across DeFi and CeFi platforms with OKEx today.

Options Trading Suspended Due to System Maintenance

To optimize our service and improve users’ trading experience, OKEx implemented system maintenance at 9:00 am UTC on Sept. 9.

OKEx at events

Past Event — OKExDeFi Roundtable: Aragon

In this roundtable, we invited Luis Cuende, co-founder of Aragon, one of the most distinctive projects in the DAO space, to share his insights on Aragon's current progress and future developments.

Subscribe to our official YouTube channel for the full episode and other videos from our OKExDeFi Roundtable series.


Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


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