The leading crypto derivatives exchange and trading platform, OKEx has further expanded its DeFi offering by adding few more tokens to its list of supported cryptocurrencies. The latest inclusion to the list is PERP – a native token of the Perpetual Protocol.
Perpetual Protocol is a DeFi platform that allows users to create perpetual contracts for any asset, ranging from cryptocurrencies to traditional commodities like gold and oil. The platform offers up to 20x leverage to traders, along with round-the-clock guaranteed liquidity, transparent fees, quick setup and instant deposits and withdrawals. The ERC20 based PERP acts as a utility, governance and staking token on the platform.
PERP spot trading on OKEx went live on March 10, hours after the platform opened for deposit. On the occasion, the CEO of OKEX, Jay Hao said, “We continue to preside over so much innovation in the DeFi sector, and we are pleased to be able to offer these cutting-edge products to our users. PERP’s ability to support virtually any asset tradable in a peer-to-peer manner unlocks vast potential for users. We’re also encouraged to see the progress made on transaction speed and blockchain interoperability by protocols such as Velo, Alpha Finance and Conflux. We look forward to witnessing rising adoption as the DeFi economy becomes integral to our daily lives.”
Other DeFi tokens listed on OKEx during this month includes VELO, ALPHA and CFX belonging to the Velo decentralized financial protocol, Alpha Finance Lab and Conflux Network, respectively.
The blockchain-based Velo financial protocol is designed to facilitate timely and transparent borderless asset transfers and digital credit insurance for businesses. Meanwhile, Alpha Finance Lab is working on interoperable DeFi ecosystem that helps existing DeFi solutions on various protocols work together in unity to overcome the current challenges to widespread adoption of decentralized finance. Making a similar valuable contribution to the ecosystem, Conflux Network is involved in the development of high-performance public chain capable of achieving high transaction throughputs without compromising on decentralization or security.
All the four tokens are now available for spot trading on OKEx. The OKEx community can now enjoy the benefits offered by the limited-time promotion of these new assets on the platform, which includes a chance to win a share of the USDT prize pools or a brand-new iPhone 12.