Large Crypto Exchange Invites Users to Vote on Token Listing Proposals

Published on by Cointele | Published on

OKEx, a Hong Kong-based prominent crypto assets exchange and a top 3 trading floor in many crypto assets, implemented a participatory mechanism that allows its users to vote on token listing proposals.

Under the scheme, projects supported by a majority of OKEx users will have the option for a priority listing review.

If a candidate project manages to bring at least 50,000 new users to the OKEx exchange, and at least 20,000 of them remain active during a certain time frame, the listing application of its token will be also given a priority for the review.

The committee's decision will have a 50 percent weighting in the overall listing decision - this means that only those projects that have favorable opinions of both the committee and exchange users will pass the selection.

A privileged class of users called Prime Investors, is being created on OKEx to ensure self-oversight of listing-related issues.

According to OKEx, Prime Investors are "Reputable and experienced institutions or individuals in the blockchain industry", who are not a part of the core team of any token project.

OKB TokenParticipating in the listing process will be available to OKEx users who hold platform's OKB tokens, and to Prime Investors.

The ability to vote on listing candidates are one of the many features that the token will have.

The list of possible uses of the OKEx token includes privileged trading fees.

According to a statement issued by OKEx management, the exchange plans to build a "Global ecosystem" based on the OKB token.