Article

OKX Sees 7 New DeFi Listings, More Promotions, and Largest OKB Burn

okx learn
OKX Learn
2020.09.04

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

This week at OKX, we completed the ninth round of OKB Buy-Back & Burn alongside listing more tokens and derivatives, such as SUSHI, YFV, CVP, UMA, KLAY, TRADE and KSM, to support our DeFi ecosystem. 

We also launched the OKX reward program for crypto rookies to learn how to trade on OKX while earning BTC and USDT. New promotional activities are also underway, including OKXAlts YouTube Video giveaway and new coin listing celebrations. Lastly, we also upgraded our tiered maintenance margin ratio schedule — meaning you can now trade with higher leverage!

Ninth OKB Buy-Back & Burn 

In our continued efforts to foster the OKB ecosystem’s sustainability and provide greater long-term value for OKBelievers, we completed the ninth round of OKB Buy-Back & Burn between June 1 and Aug. 31. 

This round was the largest ever, using 30% of the transaction fees from the spot market to buy-back and burn a total of 3,816,358.49 OKB, equivalent to $21,000,000. 

Promotions

OKXAlts YouTube Video Giveaway

Watch our third #OKXAlts video as we guide you through two of the most common types of altcoins — mining-based coins and stablecoins. 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. 6. 

OKX Beginners Rewards

The OKX reward program allows every OKX beginner to get $80 worth of BTC and USDT simply by buying, depositing and trading crypto. Sign up and learn how to get these rewards now.

UMA listing x Twitter bonus promotion 

Join the UMA bonus event on our Twitter to share the 2,000 UMA prize pool by completing these simple steps: retweet, comment and tag two friends. We will select one lucky winner for a 100 UMA bonus and 30 users for a 30 UMA bonus. 

Earn up to 200% APR on UMA (exclusive to new OKX users)

During the UMA promotion, participants are required to net-hold at least 10 UMA token. The top 100 new users who deposit or trade UMA on OKX will enjoy up to 200% APR. Sign up before 6:00 pm UTC on Sept. 9 to take advantage of this promotion. 

Earn up to 200% KLAY (exclusive to new OKX users)

During the promotion period for KLAY, users who hold the token on OKX can enjoy up to 200% annual percentage yield. A total of 100,000 in KLAY will be distributed and the promotion will last until 2:00 am UTC on Sept. 10.

New Listings This Week

OKX listed seven new DeFi tokens this week — SUSHI, YFV, CVP, UMA, KLAY, TRADE and KSM — alongside margin trading & savings, and perpetual swaps for more DeFi tokens.

SushiSwap (SUSHI)

SushiSwap is the next step forward in the Uniswap protocol design. Taking Uniswap’s elegant core design, SushiSwap has added community-oriented features that help improve the protocol’s system and provide further benefits to the actors involved.

YFValue (YFV)

YFV is the governance token of YFValue protocol. It aims to make the true value of yield farming finance accessible to all users via its unique features, such as voting on the inflationary rate of the supply, and a referral system with automatic burning done fully on-chain.

PowerPool (CVP)

PowerPool is a protocol offering a convenient solution for pooling governance tokens. It allows token holders to lend, pool and borrow governance tokens, get income from them and accumulate governance power in protocols based on Ethereum. It aims to expand the utility of governance tokens to the end-users and provide a new level of coordination for decision-making in the Defi ecosystem.

UMA (UMA)

UMA is a DeFi contracts platform built to enable Universal Market Access and power the financial innovations made possible by permissionless, public blockchains, like Ethereum. It defines an open-source protocol that allows any two counterparties to build their financial contracts. UMA contracts are secured with economic incentives alone, making them self-enforcing and universally accessible.

Klaytn (KLAY)

Klaytn is an enterprise-grade, service-centric platform that provides a user-friendly blockchain experience. It enables businesses and entrepreneurs today to capture value using blockchain technology by combining the best features of both public blockchains and private blockchains via an efficient hybrid design.


UniTrade (TRADE) 

UniTrade is a completely decentralized trading platform in the DeFi space built on top of Uniswap liquidity pools and requires no KYC, no accounts and has no trading limits. You can start trading TRADE on OKX.

Kusama (KSM)

Kusama is a network built for change agents to take back control, spark innovation and disrupt the status quo. For developers, Kusama is a proving ground for runtime upgrades, on-chain governance and parachains. 

SUSHI: Margin Trading & Savings and Perpetual Swap 

SUSHI margin trading, savings feature, and coin-margined and USDT-margined perpetual swap went live starting from 9:30 am UTC on Sept. 3. You can learn more about the swap pairs and fee tier requirements here

YFI/YFII/DOT: Margin Trading, Savings, Perpetual Swaps & Futures

Besides the launch of YFI & YFII margin trading and savings, you can now trade YFIUSDT swap and YFIIUSDT swap, as well as DOTUSD swap, DOTUSDT swap and YFIUSD swap with up to 75x leverage.

CRV & UMA: Margin Trading & Savings and Perpetual Swap 

CRV and UMA margin trading, savings, and coin-margined and USDT-margined perpetual swaps went live at 7:00 am UTC on Sept. 4. You can learn more about the swap pairs and fee tier requirements here

Product Upgrades

Adjustment of Futures and Perpetual Swap Tiered Maintenance Margin Ratio Schedule

After our recent adjustment of the Futures and Perpetual Swap Tiered Maintenance Margin Ratio Schedule, users can enjoy trading on OKX with higher position limits and higher leverage — up to 125x. Learn more details here.

Adjustment of Tiered Maintenance Margin Ratio Schedule

OKX has adjusted the tiered maintenance margin ratio schedule from 7:00–7:30 am UTC on Sept. 4. Now, you can trade the following coins with 10x leverage: BTC, ETH, EOS, LTC, OKB, ETC, BCH, XRP, TRX, BSV, DASH, NEO, QTUM, ADA, ATOM, IOST, IOTA, ONT, ZEC and XMR. Additionally, users can trade the following with 5x leverage:  LINK, DOT, XLM and ALGO.

You may review the details of the leverages after adjustment here.

Perpetual Swap Suspension

To optimize our service and improve users’ trading experience, we upgraded our perpetual swap system from 12:00–12:03 pm UTC on Sept. 3

OKX at events

Past Event: OKXDeFi Roundtable — Aave

In this roundtable, we invited Stani Kulechov, CEO and founder of Aave, to share his insights on crypto and DeFi lending innovations. 

Watch the full recap here to learn about the system behind Aave and the U.K.’s Electronic Money License, the upcoming Aave v2, how Kulechov sees the centralized players in the DeFI space, and his views about DeFi in general.

OKXDeFi Roundtable: Aragon

In the OKX DeFi Roundtable 7, our CEO, Jay Hao, spoke with Luis Cuende, founder and CEO of Aragon, and discussed the future of decentralized autonomous governance.

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

Upcoming Event: OKXDeFi AMA Series — Universal Market Access (UMA)

On Sept. 8, we will invite Hart Lambur, the co-founder of Universal Market Access, on our official Telegram channel. Tune in from 12:00 to 1:00 pm UTC for the live discussion about UMA, a decentralized financial contracts platform. 


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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