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OKEx lists DeFi token LUNA and enables margin trading, perpetual & savings for MIR and TORN
Seychelles, Feb. 24, 2021 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is once again reaffirming its commitment to the growth of the DeFi economy by listing Terra's popular governance token, LUNA, for spot trading on the exchange, and enabling savings, margin and perpetual swap trading for Mirror Protocol (MIR) and Tornado Cash (TORN).
LUNA deposits opened at 3:00 am UTC on Feb. 24, with spot trading of LUNA/USDT going live at 5:00 am UTC and LUNA/BTC one hour later. Withdrawals will be available from 10:00 UTC on Feb. 25. Margin trading and savings for MIR and TORN were enabled at 9:00 am UTC on Feb. 24, with USDT-margined perpetual swaps listed at the same time.
LUNA is the native asset of the Terra blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Based on Tendermint technology, Terra places a high focus on interoperability, and its smart contracts run on multiple chains, connected by the Cosmos Inter-Blockchain Communication protocol.
MIR is the governance token of Mirror Protocol, a DeFi project built on the Terra blockchain, which is used to issue and trade synthetic assets — called Mirrored Assets, or mAssets — that track the price of real-world assets. In this way, Mirror aims to bring the world's assets to the blockchain and create a tokenized ecosystem that continues to drive crypto adoption.
Tornado Cash (TORN), on the other hand, is a decentralized protocol that allows for private transactions on the Ethereum blockchain. It does this by disrupting the direct line on-chain between the addresses of the recipient and destination. Using TORN's cryptographic-based, noncustodial technology, users can send Ether without leaving a public trail.
"DeFi is showing no signs of slowing down, with continuous developments happening all the time to enable faster and cheaper transactions, private transactions and increased interoperability between blockchains that will eventually lead to wider adoption. We're pleased to be able to support such innovation by adding LUNA to our growing suite of DeFi tokens, and allowing our users to margin trade or make savings on some of the hottest crypto assets of the moment — i.e., MIR and TORN," commented OKEx CEO Jay Hao.
To celebrate the launch of USDT-margined perpetual swaps for MIR and TORN, OKEx is running a limited-time promotion with a 50,000 USDT prize pool up for grabs from 9:00 am UTC on Feb. 24 to 9:00 am UTC on March 2. For more information, please visit the promotion's rules page. For full details about savings, margin and swap trading, please visit our announcement on the OKEx Support Center.
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.
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