[Recent CUBE Related News] Exchange OKEx just listed CUBE — the coin based on autonomous car network security



OKEx is a global digital asset exchange platform that offers fiat-to-token trading, token trading and futures trading. We will demystify all this jargon in the rest of this article. For now, imagine how a foreign currency exchange platform works, but with cryptocurrencies being traded e.g. Bitcoin instead of real-world currency e.g. Euro. The platform serves more than 20 million customers in over 100 countries, which is more than the entire population of the Netherlands.

Fiat-to-token trading

Traditional fiat-to-token trading is the exchange between digital assets e.g. Bitcoin (BTC) and fiat currency e.g. US Dollars (USD). However, OKEx provides a different “Fiat to Token” service – a C2C platform.
At their C2C trading, people can exchange their fiat currency to tokens. The feature allows users to post advertisements where they state exchange rate for buying or selling tokens. It is a decentralized platform, on where you make a trade directly with another person.

Token trading

Token-to-token trading refers to exchanging a digital asset with another digital asset. The same concept of currency pairing applies for pricing LTC with BTC where a LTC/BTC pair emerges. It represents how many BTC is required to buy one LTC, or how many BTC will be received for selling one LTC. For example, according to OKEx’s index on 18 Aug, 1LTC=0.0099BTC.
There are currently 4 markets available in OKEx’ Token Trading: Bitcoin (BTC), Ether (ETH), U.S Dollar held in the reserves of the Tether Limited (USDT) & Bitcoin Cash (BCH) markets. The platform supports over a hundred tokens.
Token trading has several benefits including reduced costs between token exchange, the creation of arbitrage opportunities, staying anonymous while trading and promoting the exchange and circulation of tokens.
Traditional digital asset exchange platforms only offer fiat-to-token trading. If one wants to buy ETH with BTC, one would have to sell BTC first which incurs a fee and subsequently buy ETH which incurs another fee. This results in the service fee being applied twice. Taking this scenario in a token trading setting, one can buy ETH with BTC directly which saves the user time and fees.

Pricing in token trading

Similar to traditional fiat-to-token trading, the market prices of token trading are determined by supply and demand. When there is a buying pressure aka a lot of people want to buy, the price rises. When there is a selling pressure aka a lot of people want to sell, the price drops. For example, if there are more people willing to exchange BTC to LTC in the market, there will be more demand than supply of LTC. Therefore, LTC/BTC price will rise, meaning that buying a LTC would require more BTC.

Launch of the OKB token

OKEx launches a global utility token “OKB” that issued by OK Blockchain foundation. The available supply of OKB will be one billion tokens, but there will be no ICO or private fundraising. 60% of these tokens will be given out to customers for community building and through marketing promotions. Their vision is to build a sharing community on the blockchain infrastructure, allowing every user to participate and contribute to the development of the OKEx platform.

Listing CUBE (AUTO) token

OKEx also listed CUBE (AUTO) in February to provide another option for their customers. CUBE is a platform for securely protecting the network of existing autonomous vehicles with blockchain technology. Imagine you’re in an autonomous vehicle and the network gets hacked, leaving the hacker to control where the car goes. It’s a pretty scary situation to be in. CUBE wants to secure the network by using blockchain, deep learning and quantum hash technology so that hacking the car won’t be possible.
With exciting new tokens being issued, there is a possibility of making good returns from your investment. However, it is important to note that trading digital assets involves significant risk and can result in the loss of your invested capital. Before making any token purchases, you should ensure that you fully understand the risks involved and consider your level of experience, investment objectives and seek independent advice if necessary. We know this sounds boring, but it’s much better than the drama of losing big money because you went for it with eyes half closed.

Token Trading Loyalty Program

OKEx launches a Token Trading Loyalty Program on March 19 this year with 250 million OKB as incentives. The program received a great response and the packages for phase one and two were fully subscribed within two minutes. Phase three of the Loyalty Program will be open for subscriptions on March 23, 2018.

This article is taken from Indrastra, and the original article can be found at:
https://thenextweb.com/cryptocurrency/2018/03/23/exchange-okex-just-listed-cube-the-coin-based-on-autonomous-car-network-security/

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