For the UNI token, the OKEx crypto exchange will offer comprehensive trading products like spot trading, swap trading, margin trading, perpetual swaps, and much more.
By Bhushan Akolkar
Updated
3 mins read
Cryptocurrency exchange OKEx has jumped in quickly to include Uniswap‘s newly launched UNI token for the complete range of trading products available on its platform. The announcement comes just within 24 hours after Uniswap unveiled its UNI governance tokens.
In the official blog post on Thursday, September 17, OKEx mentioned that it will offer spot trading of UNI. Besides, it will also offer other comprehensive trading products like swap trading, margin trading, perpetual swaps, and much more. This has also made OKEx the first crypto exchange offering UNI derivatives. Interestingly, all these announcements come within 24-hours of the launch of the UNI token.
On Wednesday, September 16, decentralized exchange and DeFi protocol Uniswap unveiled its native UNI token citing a massive demand from the community. This comes as a direct competition to Uniswap’s own forked version SushiSwap protocol. Uniswap has announced releasing nearly 1 billion UNI token in the next four years. Besides, on the launch, the platform also released 15% of its capped value to its users via airdrop.
Being the first exchange to offer UNI derivatives, OKEx also brings a special offer to users! The crypto exchange will offer zero transaction fees in UNIUSD perpetual trading. for both the maker and the taker. Speaking about this new announcement, OKEx CEO Jay Hao, said:
“We are very pleased to be one of the earliest exchanges to list UNI, and the first to provide a complete set of trading tools including margin, swaps and savings for it. As one of the largest decentralized exchanges today, Uniswap has made outstanding contributions to the current development of DeFi, which we very much appreciate”.
Apart from being just a decentralized exchange (DEX), Uniswap has emerged as a go-to platform for some emerging DeFi projects. While DeFi hints at a very promising future, the presence of centralized exchanges can’t be neglected. The infrastructure offered by CEXs and the operational efficiencies is still unmatched. Speaking about this, the OKEx CEO said:
“We continue to collaborate with participants in the DeFi space to grow this industry together. CEX or DEX, CeFi or DeFi is not a simple single-choice question. The goal of blockchain and DeFi has never been to replace CeFi, but to use its own characteristics of trustlessness, low friction and low costs to make up for the deficiencies of the existing financial system.”
A healthy development between CEXs and DEXs will surely lead to overall growth of the industry.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
