Sign Up on MEXC
Jay Hao, OKX CEO, pointed out that certain individuals have been requesting that his exchange list emerging BRC-20 tokens. Consequently, he has highlighted certain conditions that need to be met before such a listing can be done.
OKX Token Listing Principles
According to the OKX CEO, the thoughtfulness of his friends who have been suggesting that he list more BRC-20 tokens is well appreciated. However, he explained that while this simple strategy might help the exchange make more quick money, it is detrimental to the market.
“OKX never wants to be the most aggressive listing exchange in the industry,” Hao added.
Furthermore, he acknowledged that OKX might not be the biggest player in the market but at the same time, the exchange has certain long-term philosophies which guide its listing of tokens. Generally, this involves “building the infrastructure,” pure heart from the team, and being “as transparent as possible” mixed with a technological focus.
A lot of friends urging me list more brc-20 tokens. Thanks for these kindly suggestions. I want to clarify, as an exchange if we use the simplest strategy that is just list all tokens, I believe it may help exchange make more quick money, but will destroy the market. OKX never…
— Star (@star_okx) December 25, 2023
To put it in perspective, he streamlined these philosophies into five principles of listing tokens. Firstly, before any token is listed on OKX, the platform checks to know whether the token is blockchain technology and product-driven. Next, the popularity of the token in the community is measured as he noted that no exchange would want to list a token that users are not familiar with.
Pursuit of Regulatory Compliance for BRC-20 Tokens
Also, Hao said the exchange tried to check whether the project founder and investors team were long-term builders.
This is probably to ascertain their level of experience and the integrity of their tokens over time. As the fourth reason, OKX is keen on knowing the token issuer’s legal and combination review especially this time when authorities like the United States Securities and Exchange Commission (SEC) are very particular about crypto exchanges that are listing unregistered securities.
Finally, Hao stated clearly that OKX does not support any form of pitching but rather chooses crypto projects based on the exchange’s research of the market.
It is worth noting that the suggestion made to Hao to list more BRC-20 tokens comes amidst a recent frenzy around memecoins. To showcase these trend, Phantom, originally a Solana-centric self-custody crypto wallet, listed some BRC-20 tokens a few days ago alongside Bitcoin and Ordinals.
- REX-Osprey Dogecoin and XRP ETFs Set to Launch September 18
- Coinbase’s Base Explores Issuing Network Token to Power ‘Global Economy’ Push
- Trump Urges Powell to Make a Larger Fed Rate Cut Ahead of FOMC Meeting
- Breaking: PayPal to Integrate Bitcoin, Ethereum, PYUSD In New P2P Payments System
- Tom Lee’s BitMine Boosts Ethereum Treasury by $1.87B, Now Holds 2.151M ETH
- Trump Coin Price at Risk of a 16% Dive as Open Interest, Whale Selling Intensify
- Hype Price Prediction Gains Momentum — Is USHD Launch the Fuel for $72 Target?
- Bitcoin Price Prediction: Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
