5 review criteria for listing tokens on OKX
In the context of the strong development of BRC-20 tokens through the Ordinals protocol on the Bitcoin platform, such as SATS, ORDI…, leading to an explosion in volume and listing on exchanges, Mr. Star Xu – founder and CEO of OKX exchange – shared important opinions on his Twitter account.
In those shares, it is worth noting the principles and 5 priority criteria in the listing approval process on OKX for a coin of a project, receiving enthusiastic support from the investor community.
A lot of friends urging me list more brc-20 tokens. Thanks for these kindly suggestions. I want to clarify, as an exchange if we use the simplest strategy that is just list all tokens, I believe it may help exchange make more quick money, but will destroy the market. OKX never…
— Star (@star_okx) December 25, 2023
Mr. Star Xu has received many requests to list tokens on OKX related to the BRC-20 project. However, he affirmed that since its establishment, OKX has always maintained a long-term strategy and operating philosophy not only in terms of infrastructure and technology, but also in the decision to list the project.
As the head of OKX, he shared his opinion:
I understand that listing all tokens can bring quick profits to the exchange, but this action can affect the crypto market in general. OKX does not aiming to become the most active listing exchange in the industry.
He “revealed” the 5 priority criteria that the OKX team uses in the process of selecting and approving projects for listing:
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Token must apply blockchain technology and have a product-oriented purpose.
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Popularity of the token in the community.
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The founder and project development team must intend to build long-term.
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Check for legality and regulatory compliance.
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Do not accept advertising pitches, only approve projects based on team research and list them on OKX.
Comparing with Binance CEO’s listing criteria in 2021, it can be seen that the important factors are “the investor community’s interest in the token” and “long-term commitment to construction from the project team. ”
Related: OKX Exchange had a Security Vulnerability in the iOS Application
Property of OKX
Despite experiencing a hack incident in mid-December, OKX is still the preferred exchange after Binance. With NFT trading volume and being a sponsorship partner for McLaren Racing and Manchester City, OKX holds a position in the industry. Data from DefiLlama shows that OKX ranks 2nd in terms of user assets with $12.4 billion and 24-hour spot trading volume of $2.5 billion according to CoinMarketCap.
Top 10 cryptocurrency exchanges holding the most user assets in the world. Photo taken by DefiLlama on December 25, 2023
