Back in late August, Ethereum World News had notified the crypto community on an exciting new milestone of the VeChainThor (VET) blockchain. The team at VET was excited to announce the first token minted on the blockchain: OceanEX (OCE). The latter would also be part of a crowdfunding campaign on the VET blockchain.
About the OceanEX Project and its Crowdfunding
The crowdfunding for the OceanEX project was geared towards creating an AI powered digital asset trading platform within the VeChainThor Ecosystem. The platform is designed to use AI technologies to provide an actively protected and ultra-liquid cryptocurrency trading market. OceanEX also plans to provide a variety of investment strategies for traders and investors on the platform.
The crowdfunding was carried out in two stages. There was the whitelisting phase which required participants to at least commit 50,000 VET. There was then the VeChain community round which came soon after.
Use of the OCE Token on the Platform
The OCE Token has been outlined to be used in the following scenarios as soon as the Exchange is up and running.
- pay for fees of services such as: transaction fee, withdraw fee, listing fee, argo/fund deployment fee
- voting right in project listing pool
- invitation to OceanEx’s quality community events and meetups
- access to our market research center in OceanLab
- subscribe to and use our professional developed trading tools and investment products such as CryptoBento™
- more to come in the future
Sign Ups Now Open on OceanEX
The OceanEX exchange website is currently live and running with willing users having the option of signing up before the Beta version of the platform goes live. The exact date of the launch of the Beta version has not yet been announced, but many VET fans believe it could be before the end of October.
Once the user registers on the platform, the second step is to complete the KYC (Know Your Customer) verification. Of particular interest during the KYC, are the following documents:
- Passport or Government issued ID
- Proof of residence – this might include an utility bill, bank statement, current driver’s license or local authority tax bill
The exchange also wishes to notify its users that the KYC procedure might take a while to complete due to the large number of whitelist subscribers.
Possibilities of VET Prospering Once OceanEX Goes Live
As earlier mentioned, OceanEX is a revolutionary cryptocurrency exchange within the VET ecosystem. This in turn means that it will be geared towards the trading of tokens created on the blockchain as well as the main digital asset of VET. The chances of VET being used as a base currency are very high, therefore it is only natural to connect the dots and assume demand for the digital asset will surely go up once the exchange is 100% functional.
OCE is also a token to consider for it will most likely become a base currency on the platform in a manner similar to how Binance Coin (BNB) is the focal point of Binance.
What are your thoughts on the OceanEX exchange? Will it make VET great in the markets? Please let us know in the comment section below.
[Image courtesy of OceanEX.Pro]
Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.