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One of the leading cryptocurrency derivatives and spot exchange platforms named OKEx lists Orchid (OXT) as the newest addition in its list of tradable crypto assets. The latest altcoin news show that the OXT token is designed for use on the Ethereum blockchain-based peer-to-peer open marketplace for buying and selling VPN bandwidth.

The deposits and withdrawals of OXT on OKEx will be available from March 27 and 31 at 09:00 UTC respectively. In between this period, the OXT/BTC and OXT/USDT spot trading feature will go live on March 30, 2020 at 09:00 UTC.

As OKEx lists Orchid (OXT), we can see that the platform behind this token is designed to offer online privacy to its users. Established in 2017, it enables a decentralized virtual private network (VPN) which lets users purchase bandwidth from a global pool of service providers in the form of high performance onion routed circuits.

In that manner, the bandwidth providers generate revenue by running the Orchid server software and staking OXT in an Ethereum directory smart contract to receive traffic and revenue proportional to the size of the stake deposit.

The CEO of OKEx Jay Hao commented as OKEx lists Orchid (OXT) and said:

“Orchid is a perfect case to show how the combination of token economic model and commercial application works. We are happy to be able to have OXT as a member of the OKEx ecosystem, where we strive to offer professional and retail traders one-stop trading services while promoting mutually with the project teams. We will continue to find quality investment projects and provide enhanced trading experience for our global users.
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For many following the cryptocurrency news, OKEx is known as an exchange with a stringent review process for listing every new project. The measures that exist are to make sure that the interests of investors are always protected.

OXT has managed to satisfy all of the criteria set by the platform with respect to the project quality in terms of legal qualification, business model, structure, promotions and many other things. The Orchid project also has a strong ecosystem and a community which follows its growth and will likely do that in the future.

“We are pleased to partner with OKEx, a leading cryptocurrency exchange, as an important step in Orchid’s expansion into the global markets. With OXT available on OKEx, more new users in Asia and around the world will be able to access and benefit from the product,” the CEO and co-founder of Orchid, Dr. Steven Waterhouse explained.