Cryptocurrency Exchange OKEx Lists Polkadot's Native Token DOT
Cryptocurrency Exchange OKEx Lists Polkadot’s Native Token DOT
July 18, 2020
Cryptocurrency Exchange OKEx Lists Polkadot's Native Token DOT
Cryptocurrency Exchange OKEx Lists Polkadot’s Native Token DOT
July 18, 2020

Cryptocurrency exchange OKEx lists the native token of Polkadot (DOT) on its trading platform according to an announcement on July 17.

Polkadot’s native DOT is now spot trading against Tether’s USDT stablecoin on the cryptocurrency and derivatives exchange.

Meanwhile, DOT deposits and withdrawals are not supported yet. Currently, the tokens can only be obtained via claiming on the mainnet from the Ethereum blockchain.

Although no launch date has been announced for DOT withdrawals and deposits, OKEx, however, assures of launching them with additional DOT trading pairs in the future.

The announcement shared with Cointelegraph went on to explain that Polkadot is the first project of Switzerland-based Web3 Foundation, aiming to:

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“to connect private and consortium blockchains, public and permissionless networks, oracles, and even future technologies that are yet to be created.”

OKEx CEO Jay Hao said:

“One of blockchain’s biggest issues still remains interoperability and Polkadot will play a key role in allowing all kinds of blockchains to talk to each other, transact, and exchange data. Since Polkadot allows for cross-blockchain transfer of all types of data and not just tokens, it will hold an important role in the crypto ecosystem preparing for the next web.”

The CEO went on to explain that he is not expecting us to move to a decentralized web overnight, although he believes  we will start seeing more and more decentralized applications.”

HAO adds his view on the the future of internet and cryptocurrencies role in it:

“As societies move away from cash and real-world assets are eventually brought onto the blockchain like stocks, gold, real estate, etc. crypto will be used more and more as a simple way of transferring value to any device and more projects like Polkadot will allow us to transfer all types of data securely and trustlessly greatly speeding up the current bureaucracy we live with today.”

Polkadot‘s technology recently came under the limelight for allowing developers to come up a with a new blockchain within just an hour.

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Meanwhile, OKEx recently guided on claiming Ethereum-based ERC20 DOT tokens to Polkadot’s mainnet in such a way that makes the tokens available on the exchange.


Source: Cointelegraph | Image: Pexels

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