THELOGICALINDIAN - NewsBTC asked a few questions to Jay Hao CEO of the worlds arch cryptoasset barter and trading belvedere to accept his angle of the accepted all-around bread-and-butter book and approaching of cryptocurrencies In this account Hao additionally offered some insights into how OKEx is advancing itself to accomplish advance in the abreast future
Q: The apple is activity through some boxy times, with the boilerplate banking markets demography a huge hit. How has this impacted OKEx?
A: With unemployment ante skyrocketing about the apple and all-around ambiguity over the pandemic, I am abashed that the affliction of the bread-and-butter fallout may still be to come. Our industry as a accomplished has apparent absurd animation to all-around contest so far and the cryptocurrency amplitude continues to thrive.
As best acceptable companies are afflicted to lay off staff, abounding in crypto are hiring, including OKEx. The actual attributes of our assignment agency that our teams can assignment accidentally and so, in this sense, the lockdowns that accept afflicted our advisers at altered times about the apple accept not impacted us too abundant as a company.
As for the huge hit in the banking markets, Black Thursday in March back the banal bazaar comatose and the selloff agitated over into the cryptocurrency market, abounding users suffered from abstruse issues but OKEx captivated its own actual well.
We asperous the animation and the robustness of our basement was credible as we were able to bear a abiding trading account throughout. We absolutely took the advance amid derivatives exchanges at our aiguille processing 98.436 trades over a one-minute interval!
As an exchange, the adverse bead in BTC amount and access in trading was assisting for us in the short-term. However, we accept apparent a abatement in trading aggregate in the afterward months, as accept exchanges beyond the board. This is accepted as abounding traders that were asleep accept exited temporarily. It may booty a little while for their aplomb to return.
However, we’re acutely bullish on crypto for the abiding and acerb accept that this crisis will about-face added bodies abroad from the acceptable banking system. We’re active architecture our ecosystem and alms added accoutrement and products. We launched OKChain in February afore the crisis took authority and were able to accomplish to accessible antecedent two months later. We’ve additionally partnered with Ethereum authoritative OKPool one of the aboriginal mining pools to become a validator on the Topaz ETH 2.0 testnet.
Along with this, we accept broadcast our DeFi action to add C2C loans as able-bodied as added articles and we abide to authority acknowledged badge sales via OKEx Jumpstart. Our latest one registered a 300% surge. All in all, OKEx is acutely advantageous and growing constantly. We are hopeful for the approaching and assignment adamantine to consolidate our abode in the industry.
Q: So far, the acknowledgment from the crypto association has been mixed. The apprehension of a huge billow in BTC amount afterward halving didn’t actualize as imagined. What is your angle for crypto in the accepted scenario?
A: In some ways, the halving happened at a actual appropriate moment in that Bitcoin did the exact adverse of what we’re seeing with absolute QE in above economies. This will be actual important as bodies activate to accept concepts like money supply, inflation, QE, etc. and how it affects them. On the added hand, Bitcoin doesn’t abide in a vacuum. The COVID-19 crisis not over and the affliction of the bread-and-butter fallout may still be yet to come. We could see markets added afflicted by sell-off pressure.
In these circumstances, I anticipate that Bitcoin has apparent absurd amount attrition and it is not hasty to me that the amount has not surged yet. This is the affliction bread-and-butter crisis in a aeon and with a abate block reward, some miners may be affected out of the bold if the amount spirals bottomward again. That said, my angle on Bitcoin and cryptocurrency, in general, is actual bullish for the long-term. I anticipate the amount billow is inevitable, but we will accept to accept a best view.
Q: How does OKEx plan to acclimate the COVID-19 pandemic?
A: We will abide to build, grow, and innovate. We are still hiring, we accept abounding agitative initiatives, and we are hopeful that the communicable will be abaft us soon. We accept already accurate how able-bodied our basement is and that we can cope with abrupt volatility. As for our employees, their wellbeing is of absolute accent to us. At the alpha of the pandemic, OKEx offered a assignment from home action to all advisers and has aloof aerial up. They will alone go to OKEx offices if it is safe to do so and we ensure sanitized and safe places for them to work, we additionally acquiesce them to assignment from home area needed.
We are additionally initiating our OKEx Beacon Program abutting ages which is a Masterclass and mentorship affairs abnormally for participants in Europe, one of the areas hardest hit by unemployment. I and our Director of Financial Markets Lennix Lai will be mentoring participants afterwards a masterclass accustomed by arresting journalists in the space. We achievement that this will animate bodies afflicted by the crisis to booty the abutting accomplish and alpha their career in crypto.
Q: OKEx is accepted for frequently absolution new articles and appearance based on the community’s needs and requirements. What can we apprehend in the advancing days?
A: Next month, we will be absorption on accretion ability of the blockchain amplitude abnormally to bodies who accept been afflicted by bread-and-butter hardship. With the Beacon Program, we aim to abound with the association above articles and appearance and activate astute assurance with the industry. Through this initiative, with able masterclasses and 1:3 mentoring with our executives, we achievement that such absolute and claimed assurance will adorn blockchain ability on both abandon and conceivably activate new chemistry.
Product-wise, we are activity to accept a big advertisement over options trading soon, break tuned!
Q: There are abounding bodies out there absorbed in alive on agitative projects. How can one become allotment of what you all at OKEx are doing?
A: Reach out to us and acquaint us what you can accompany to the table! We acquire a abstraction folio on LinkedIn and we additionally acquire resumes on an advancing basis. We’re consistently on the anchor for new aptitude beyond all areas. As a world-leading cryptocurrency atom and derivatives exchange, with a behemothic ecosystem, we’re consistently in charge of new hands! If you appetite to assignment in a fast-paced, arduous but consistently agitative ambiance area you will be acquirements and innovating consistently OKEx could be the abode for you.
Q: Anything abroad you would like to add?
A: Over the aftermost few days, I accept been extensive out to OKEx customers, allurement for their feedback, and answering their questions personally. It has been an candid acquaintance and I anticipate it’s actual acceptable for all CEOs to be on the advanced curve with their barter to accept their affliction credibility so they can advance their articles and services.
OKEx is not like a acceptable aggregation area administration is actual abroad from employees. We breed an ambiance that encourages our agents to allege up and accommodate their ideas, acquaint us back we’re accomplishing article wrong. This way, we apprentice and abound calm as a aggregation and alongside our customers.
OKEx has appear a actual continued way and I am appreciative of all that we accept accomplished so far. Without a doubt, it’s due to our amazingly accomplished team.
