VALLETTA, Malta, Sept. 18, 2020 /PRNewswire/
-- OKEx (www.okex.com), a world-leading cryptocurrency
spot and derivatives exchange, has announced the listing of UNI,
the governance token of popular DeFi protocol Uniswap. Not only has
OKEx added support for spot trading of UNI, but it is also
providing its users with the most comprehensive range of trading
products for this hot DeFi token, including margin, swap trading,
coin-margined perpetual swap and Savings, making OKEx the first
exchange to offer UNI derivatives.
Deposits of UNI went live at 2:00 am
UTC on Sept. 17, and
withdrawals were available beginning at 8:30
am UTC on Sept. 17. UNI spot
trading against USDT began at 2:30 am
UTC on Sept. 17, while trading
pairs against ETH and BTC were made available at 3:30 am UTC on Sept. 17.
The coin-margined perpetual swap for UNI was listed at
11:00 am UTC on Sept. 17, 2020. In order to avoid unreasonable
charges when the new contract launches and the premium is unstable,
the upper limit of the funding rate before 8:00 am UTC on Sept.
18 has been reduced to 0.03%.
To celebrate the listing of UNI, and being the first exchange in
the world to offer UNI derivatives, OKEx will offer zero
transaction fees in UNIUSD perpetual trading, for both the taker
and maker.
"We are very pleased to be one of the earliest exchanges to list
UNI, and the first to provide a complete set of trading tools
including margin, swaps and savings for it. As one of the largest
decentralized exchanges today, Uniswap has made outstanding
contributions to the current development of DeFi, which we very
much appreciate," commented OKEx CEO Jay
Hao, adding:
"We continue to collaborate with participants in the DeFi space
to grow this industry together. CEX or DEX, CeFi or DeFi is not a
simple single-choice question. The goal of blockchain and DeFi has
never been to replace CeFi, but to use its own characteristics of
trustlessness, low friction and low costs to make up for the
deficiencies of the existing financial system."
As a decentralized exchange in the form of two smart contracts
hosted on the Ethereum blockchain, as well as a public, open-source
front-end client, to a certain extent, Uniswap has marked the
starting point of a recent DeFi trend. Uniswap is a 100% on-chain
market maker allowing the swapping of ERC-20 tokens, as well as ETH
to ERC-20 and vice-versa. Today, Uniswap is not just a DEX, but a
platform where emerging DeFi projects can often earn their initial
reputation.
Yet, DeFi is not without its limitations, and the advantages of
top CEXs in terms of efficiency and operational capabilities also
attract a large number of DeFi tokens. In addition, the customer
service system established by investing a lot of manpower and
material resources have made great contributions to industry
popularity, user education and onboarding.
In a nutshell, CeFi and DeFi complement each other. The best way
to push the blockchain and crypto industry forward is to combine
these two powers and play to both their respective advantages.
About OKEx
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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