OKEx, a prominent crypto exchange and derivatives platform in the industry has announced the inclusion of Chia Network’s native crypto asset. The listing of XCH went live on May 3, enabling users to trade XCH/USDT and XCH/BTC trading pairs.
A creation of Bram Cohen, known for inventing the BitTorrent Network, Chia Network is a highly decentralized, efficient, and secure blockchain and smart transaction platform. It uses an innovative Nakamoto-style consensus algorithm based on Proofs of Space and Time instead of conventional energy-intensive Proof of Work setup.
Built from scratch, the Chia Network also has its own Chialisp – a new on-chain programming language designed to be more powerful, easily auditable, and highly secure than other available options. The Chia Network is capable of supporting atomic swaps, authorized payees, recoverable wallets, multi-sig wallets, rate-limited wallets, and even colored coins.
Chia Network is backed by some of the big names in the cryptocurrency and venture capital space. The project is funded by Greylock Partners, Andreessen Horowitz, True Ventures, Slow Ventures, Galaxy Investment Group, and others.
By listing XCH, OKEx is one of the few platforms to offers its users early access to an innovative network. Along with the listing, OKEx has also announced two promotional campaigns to mark the occasion, effectively giving away $100,000 worth of USDT and 5000 TiB.
As a part of the first promotion, the first 50 participants depositing 50XCH or more from an external address to their OKEx account will become eligible to receive 500 USDT each. Those who deposit over 200 USDT worth XCH during the same period will become eligible to participate in a prize pool of 25000 USDT.
The second campaign is open for everyone depositing and trading XCH during the promotional period. They will become eligible to participate in a lucky draw for $50,000 in USDT and 5000 TiB.
Every time an individual’s deposit increases by $100 in value, they get additional rewards, and those with XCH/USDT trading volumes in multiples of $2000 get additional chances at winning the lucky draw. Even inviting new friends to join OKEx makes traders eligible to participate in the lucky draw.