OKEx, the world’s third-largest crypto exchange has announced the listing of Tezos on the trading platform. The new altcoin will be paired against Bitcoin and Tether for spot trading from November 7th. Users can start depositing XTZ by November 6th itself while the withdrawal of the XTZ would start from November 8th.
Andy Cheung, head of operations at OKEx expressed his happiness on being listed on one of the largest crypto exchanges and said,
“Tezos is a highly respected project with a robust community, and we’re happy to be able to add the value of the XTZ network to the OKEx ecosystem.”
The announcement regarding the listing of Tezos follows the initial plans of the OKEx exchange to offer future trading for Tether which would offer linear future contracts with 100x leverage. OKEx is all geared up for its futures contracts and scheduled to launch USDT Futures Contracts by November 14 and USDT Perpetual Swaps by November 30.
Before OKEx, Binance also listed Tezos against Bitcoin, Tether and Binance Coin. The listing was followed by the roll-out of a staking platform which allowed users to hold their Tezos in the wallet for fixed periods of time and earn respective interest rates.
Staking as a Service has Gained Momentum
Staking of digital currencies has become an evolving way of earning capital from one’s one money and the services are available for only those tokens which make use of Proof-of-Stake (PoS). With Ethereum set to change its consensus to PoS very soon, many believe staking service would gain mainstream attention.
Binance’s research arm argued on the same lines claiming that staking would have a transformative impact on the crypto industry and also noted that Ethereum’s change of algorithm would definitely accelerate that process.
Proof-of-stake is also helpful in increasing democratic behavior on a blockchain and often known for driving participation on the blockchain. The PoS algorithms allow stakeholders to govern upgrades in the core protocol by a voting system which avoids the chances of a hard-fork.
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