In a recent X post, Jay Hao, the Chief Executive Officer of OKX, one of the prominent cryptocurrency exchanges, revealed five fundamental principles that will guide the platform’s decision-making process for listing new digital assets. The move comes in response to growing requests from certain quarters to list emerging BRC-20 tokens on the exchange.
Acknowledging the influx of requests, Hao addresses the issue, stating, “A lot of friends urging me to list more BRC-20 tokens. Thanks for these kind suggestions.” However, he quickly emphasized that a simplistic strategy of listing all tokens at random could have detrimental effects on the market. “OKX never wants to be the most aggressive listing exchange in the industry,” he asserted.
Despite the exchange not holding the industry’s largest leader position, Hao highlighted the exchange’s steadfast commitment to long-term philosophies. These include prioritizing building robust infrastructure, adhering to ethical principles (“don’t be evil”), maintaining transparency, and being consistently technology-driven.
OKX’s Five Pillars for Responsible Listing
Hao categorically dismissed the efficacy of sending spam listing requests via the X platform (Twitter,) stating unequivocally, “Send spam listing requests to me on Twitter will never work.” Instead, drawing from the exchange’s years of experience, he outlined five major principles that OKX has developed for currency listings:
- Blockchain Technology and Product-Driven Approach: OKX will prioritize tokens that are driven by solid blockchain technology and exhibit a product-driven focus.
- Community Popularity: The popularity of a token within the community will be a crucial factor in the listing decision-making process.
- Long-Term Commitment from Project Founders and Investors: OKX will assess whether the project founders and investor teams are committed to long-term development, ensuring sustainability beyond the initial listing.
- Legal and Compliance Review: Stringent legal and compliance reviews will be conducted to ensure that listed tokens adhere to regulatory standards, safeguarding the interests of users and the platform alike.
- Research-Based Selection: Rather than accepting pitches, OKX will proactively research and select projects from the market based on their own evaluations, adding a layer of due diligence to the listing process.
However, these principles serve as a strategic framework for OKX, ensuring that the exchange remains discerning in its listing decisions and fostering a robust and responsible cryptocurrency market.
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