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OKX cryptocurrency exchange CEO Jay Hao named five basic principles for listing cryptocurrencies on the platform.
Jay Hao posted on his X account that many friends urge him to stake more BRC-20 tokens. However, he explained why this strategy is not suitable for OKX.
The head of the cryptocurrency exchange presented five basic principles for listing specific tokens on the exchange. He indicated that before deciding to list cryptoassets, the following factors should be relied upon:
- Blockchain technology and token-based product
- Popularity of the token in the community.
- The founder and team are long-term builders.
- Legislation and Compliance Review
- Refusal to include “shitcoins”
“I want to clarify that as an exchange, if we use the simplest strategy which is just listing all the tokens, I think it may help the exchange market get money faster, but it will destroy the market.”
Jay Hao, CEO of OKX
Jay Hao also noted that OKX never wanted to be the most aggressive listing exchange in the industry. Although OKX is not the most prominent industry leader, it still has a long-term philosophy, such as building infrastructure, not being evil, being as transparent as possible, and always trusting technology.
Last week, trading volume on the OKX nft marketplace exceeded $60 million, surpassing the Blur and OpenSea platforms. Analysts attribute this growth to increased trading volumes of BRC-20 tokens and bitcoin (btc) Ordinals. The success of the crypto exchange was due to the fact that in May 2023, OKX added the ability to trade bitcoin Ordinals and BRC-20.
