OKEx CEO Jay Hao: The Crash of a Token Is Not the End of DeFi, but a Lesson in Overheated Market Sentiment
OKEx Supports Perpetual Swap, Margin and Savings for 8 Promising DeFi Tokens
Malta, Sept. 9, 2020 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is providing more flexibility for its global users by adding perpetual swap, margin and savings for eight promising DeFi tokens — RSR, WNXM, BAL, STORJ, BTM, LRC, ZIL and BTT — against USDT beginning at 9:00 am UTC on Sept. 9, 2020.
By utilizing trading tools like perpetual swap and margin, traders can execute richer trading strategies to maximize profits while hedging their trading risks. Today's announcement comes off the back of the expansion of OKEx Earn, a P2P platform that allows users to store idle funds and earn passive income, to accommodate three popular DeFi projects: Compound, Curve and YFII.
This continuous broadening of OKEx's DeFi offerings highlights the exchange's commitment to further strengthen its support for the growing DeFi economy.
“As the concept of DeFi has received more and more users' attention and recognition, the demand for greater diversity of DeFi tokens' trading tools has become more prominent. Based on the insight into our global users' demands, we decided to launch perpetual swap, margin and savings for these popular DeFi tokens,” said OKEx CEO Jay Hao.
“These products are designed to help our users optimize their asset portfolio to better balance risks and returns. However, given the high risk associated with investing in innovative new projects, especially in a growing area like DeFi, we recommend that all traders fully understand the project and its purpose before investing, rather than allowing themselves to become affected by market sentiment."
The DeFi boom has swept through the entire crypto space recently thanks to its explosive growth and high demand from retail traders and yield farmers. However, despite the stellar performance of major DeFi tokens and the attention in the media, DeFi-related trading tools remain limited.
This lack of infrastructure is not conducive to traders — particularly professional and institutional traders — for conducting trading operations and implementing trading strategies, such as hedging risks. It also limits the means for users to better configure their asset portfolios. In recognizing this, OKEx is at the forefront of the industry in promoting the development of DeFi by providing enriching trading tools and diversifying asset allocation.
Jay further commented:
“Perpetual swap and margin allow traders to carry out far more sophisticated trading strategies that can greatly amplify their returns and help them hedge their risk. But we also know that these types of tools don't fulfill the needs of all users, which is why we're offering the chance to earn passive income on their favorite DeFi tokens as well. By expanding our support for DeFi projects and developing more sophisticated trading tools and savings options for our users, OKEx will also continue to help push the industry forward toward mass adoption."
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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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Telegram group (English): https://t.me/OKExOfficial_English
Telegram group (Russian): https://t.me/okexofficial_ru
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 involve 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.