OKEx Donates $4.5 Million Worth of Bitcoin to Perpetual Swap Market Insurance Fund

OKEx, a Malta-based digital assets exchange, announced earlier this week has donated $4.5 million worth of Bitcoin to its perpetual swap market insurance fund to encourage customer confidence in trading cryptocurrencies. OKEx reported that last year it introduced perpetual swap trading along with the new risk management system which their customers widely benefited from. The platform revealed:

“Since the adoption of the new risk management system, the exchange has recorded zero clawback for the futures and perpetual swap markets, even under extreme volatility. The donation to the perpetual swap insurance fund will now provide an extra layer of protection to the customers, further ensuring that all customers’ interests are safeguarded.”

Speaking about the donation, Andy Cheung, Head of Operations of OKEx, shared:

“We strive for developing a healthy trading environment. No clawback has occurred on OKEx perpetual swap since its launch. We introduced a new risk management system to strike a better balance between avoiding early liquidation and maximizing traders’ benefits. We believe the $4.5 million donation can give extra confidence for customers trading on our platform. Developing a robust crypto marketplace where everyone can trade freely in a fair manner is something that has always been our mission.”

Cheung went on to add:

“Customer satisfaction is the core of our service. The key to delivering the best user experience to our customers is security. Our founding members and executives are all tech and internet experts, allowing us to lead in product and technology development. As believers in Bitcoin and blockchain, we are dedicated to bringing more positive changes to the existing financial system, bridging the traditional and crypto markets with our technologies.”

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