OKEx, the world’s largest futures cryptocurrency exchange, today announced it will list Tezos (XTZ), an open-source platform for assets and applications backed by a global community of validators, researchers, and builders. According to Cryptocompare, Tezos is the 21st most popular cryptocurrency with a market cap of over $695 million USD and a 24-hour trade volume of over $206k USD.
The depositing of XTZ will be available from 09:00 November 6, 2019 (UTC). XTZ spot trading against USDT and BTC will open at 09:00 November 7, 2019 (UTC). XTZ withdrawal will open from 09:00 November 8, 2019 (UTC).
“Tezos is a highly respected project with a robust community, and we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem, where we strive to deliver a one-stop-shop for professional and retail traders,” said Andy Cheung, Head of Operations of OKEx.
Created by former Morgan Stanley analyst Arthur Breitman and Kathleen Breitman, Tezos is a multi-purpose platform for decentralized applications and smart contracts. Stakeholders govern upgrades to the core protocol, including upgrades to the amendment process itself without having to fork the network into two different blockchains. The project aims to promote long-term upgradability and open participation to support mainstream adoption of blockchain technology.
“We are looking forward to a thriving relationship with OKEx, a global leader in the blockchain space, in furthering the Tezos ecosystem together in Asia and throughout the world,” said Corey Soreff, Board of Directors of Tezos Commons Foundation.
OKEx’s listing review process sets a high standard in many aspects, including important pillars ranging from project quality (i.e. (legal) qualifications, business model and structure, promotion etc.) to project community (i.e. ecosystem-wise capacity and promotion opportunity). By taking every possible measure, OKEx strives to ensure every listed project delivers practical use cases and brings in market liquidity.
The addition of Tezos accompanies the November launch of OKEx’s USDT Futures Trading, a linear futures contract. With USDT Futures, OKEx traders can long a position to profit from the increase of a cryptocurrency’s price, or short a position to profit from the decline of a cryptocurrency’s price. USDT pairs on OKEx include BTC, ETH, BCH, EOS, XRP, BSV, and TRX with a leverage level of 1-100x, both in fixed and cross-margin mode.
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