OKEx Supports OKB's Spot Margin Trading and Savings

[NateWong0929]

Malta-based major cryptocurrency exchange OKEx has reported launching OKB/USDT spot margin trading with a daily borrowing rate as low as 0.01% from February 21, 2020, according to the news. At the same time, the Savings service in OKEx also opens to OKB assets.
According to the person in charge of OKB, OKEx provides a lower borrowing rate and higher interest to millions of OKB holders this time. As OKB is supported and recognized by the market much more universally, in the future more related services and use cases will be offered and built to create a top-level trading experience for OKEx users.
Some analysts believe that the launch of this new business has released several positive signals to OKB holders. First, in the market where the price of OKB continues to increase, users can borrow OKB from the OKEx platform and trade with enjoying low-interest rates; Second, users who deposit OKB in Savings are receiving price growth gains, and at the same time they can get considerable interest income; Third, to a certain extent, spot margin trading for OKB can better meet the needs of high-cost and high-yield people. More importantly, this move will also greatly improve the market circulation of OKB, stimulate the market enthusiasm of OKB, further increase the activity of OKB and its derivatives, and thus promote the depth of OKB trading.
The announcement tells that OKEx has launched spot margin trading for 19 new assets including OKB with trading pairs against USDT and BTC, as well as Saving service. Other asset names contain ADA, ALGO, ATOM, BTM, BTT, ELF, HC, IOTA, IOST, LINK, OMG, ONT, VSYS, XLM, XMR, XTZ, ZEC, and ZIL if you want to know.
OKB (3x leverage) is supported by a daily borrowing rate as low as 0.01%. After users borrowing coins, it will deliver assets and calculate interest immediately. The daily borrowing rate will update hourly and the system will calculate the benchmark interest rate per hour according to the demand and supply change dynamics of borrowing and saving amount.
Furthermore, Savings in OKEx also supports users to deposit a maximum of 10K OKB, and when users transfer in and out, the asset reaches the Savings account in real time. The income will be calculated the next day after the asset is transferred in and it will reach the account on the third day. These 19 assets including OKB are all included in this service.
At now, on the one hand, 13 use cases and user privileges related to OKB have been developed on OKEx platform. Besides spot margin trading and Savings, the use cases on the widely popular OKChain, trading fee discounts, the 10th Jumpstart project and so on are also included.
On the other hand, OKB has currently expanded and involved in 32 applications of more than 10 significant fields, for example, payment, trading, market software, wallets, finance management, technical security, travels, domestic services, entertainment, social, electric contracts and O2O.
Some analysts pointed out that with the gradual enrichment of OKB's applications and growing benefits and rights within the OKEx platform, it will form an effective interconnection with external use scenarios, and help promote the ecological construction of OKB. OKB holders will thus obtain greater rights and interests in the future.