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OKEx announced launch of Digital Asset Exchange Open Partnership Program

On June 20, 2018 (Hong Kong time), OKEx officially launched the Digital Asset Exchange Open Partnership Program and began the recruitment of “OK Partners”.

According to the exchange, the program is set to nurture a new generation of digital asset exchanges characterized by high autonomy, efficiency and transparency.

Teams who aim to establish their own digital asset exchanges, only need to provide their domain names, logos, operation force, and to focus on the management and operations of the exchange. OKEx’s global technical team, on the other hand, will provide R&D and system maintenance supports to the teams, who will share the high liquidity and advanced trading experience offered by the world-leading digital asset exchange.

The 1st phase of the program offers 100 places for participating teams. Applicants are required to deposit 500,000 OKB in their accounts, excluding the amount locked for Designated Merchant, New Listing Vote, and Prime Investors. The ideal candidates for OK Partners should possess solid industry experience, quest for service excellence, and strong industry influence. The 1st phase is expected to go online in late July.

The first 100 exchanges will run a platform token-based operation. The Program will support each exchange in issuing its own platform token. 51% of the total tokens issued should be assigned as the “Mining Portion” and 49% as “Issuance Portion”, in which 25% is owned by the exchange and 24% is distributed to OKB holders.

80% of every open exchange’s revenue will be shared with platform token holders as an incentive bonus (including only the mined Mining Portion and the released Issuance Portion). The other 20% will be reserved for the exchange’s daily operations.

OKB holders will receive 24% of every exchange’s platform tokens plus the incentive tokens. Distribution rules vary for different exchanges, based on their individual token release amount and incentive token practice.

«We believe the program will make a difference to the blockchain industry and inspire more exciting ideas to come», – concluded the OKEx team.