The OKEx said that unusual transactions were registered on Friday morning, March 30, to manipulate prices for bitcoin futures contracts. Spil a result, prices were significantly different from the current rate of the very first cryptocurrency.
Spil a result of the investigation, it wasgoed found that one of the users closed a large number of positions, not taking into account the current prices, resulting te the bitcoin price fell to unusually low levels.
Representatives of OKEx promise to make public the relevant transactions after the completion of a utter investigation.
The Exchange team also refers to clause 6.Two of the user agreement, which grants it the right to control the accounts te the event of the detection of deliberate manipulation of prices.
To prevent forced-liquidations due to price differences after the settlements te “bi-weekly” and “quarterly” futures contracts, wij will rollback the transactions spil mentioned, and all futures contracts will be delivered at 00:00 Mar 31, (Hong Kong Time). Further announcement will be made if there are any switches te delivery time.
The exchange’s team assures that the process of crypto and fiat trading has not bot affected and proceeds to be carried out ter corriente mode.
Ter addition, te order to compensate for the inconvenience, the exchange will eliminate the commission for trading bitcoin futures from April 1 to 7.
The announcement claims that the programme is intended to “nurture a fresh generation of digital asset exchanges”. To establish a fresh crypto exchange, interested parties have to provide OKEx with a domain name, logo, and specialties of the management team. They are assured to wield “solid industry practice, quest for service excellence, and strong industry influence.”
Applicants should also deposit 500,000 OKB tokens into their accounts. This equals around $Two.Five million at the present rate, according to coincodex.com. OKB is a utility token that were very first sold ter March of this year te packages of up to 100, each costing $100. They can be applied to lodge transaction fees on the exchange and traded for Bitcoin, Ethereum and Tether.
The applicants will get access to OKEx’s fitting system (which linksom up buy and sell orders), cold and hot wallets (offline and online cryptocurrency storage), clearing system (which treats money transfer), client support system, and know-your-customer and anti-laundering systems. They will also get support from the OKEx technical team.
100 places are suggested by the programme te its very first phase. It is anticipated to commence te July. The announcement also points out the setup that the fresh exchanges voorwaarde have. They will develop their own native tokens, and distribute them spil goes after:
- 25 procent to themselves,
- 24 procent to OKB holders,
- and 51 procent to be mined.
OKEx explains the mechanisms by which the tokens will be mined/released. The term white label wasgoed firstly invented te the music industry – a white label vinyl record wasgoed a release so fresh that it had not yet bot labelled, a much sought-after thing. Presently it cites to a service or product manufactured by one company and sold to another for re-sale under a different brand name.