AMA (Ask Me Anything ) was conducted with Okex on 28 May 2020 at 12:00 PM UTC live on our telegram group .
We were joined with Regional Director at OKEx ,Pierre .Though there were hundreds of questions asked by the community but because of lack of time Pierre could not answer to everyone.
Guest Introduction :
I am Regional Director at OKEx helping with user growth and partnerships. I am also helping with the competition which starts tomorrow .
I am from Berlin, Germany 31 years old . Been working in the tech industry since 2012 .
Cyber Security, Enterprise Software Solutions, Big Data, AI, Data Science, Analytics are the industries I have been working in before I started with Crypto Trading
2017 after having worked in Paris, London, Copenhagen and Kiev, I returned to Berlin an started trading Cryptocurrencies
I also started to build my own community and organized events with focus on crypto trading and been involved in numerous projects around DEX’s, Mining, Algo Trading and Bitcoin ATM’s .
Recently I was approached by OKEx to help them with the European expansion and now in particular for the trading contest 🙂
Community Questions :
Q. I expect more traders in coming weeks. How prepared are you for this? Hope we won’t hear stories that exchange server is down and lagging due to heavy users simultaneously?
no, we haven’t had issues like that in the past and neither in past competitions, the feedback we receive so far from the community is solid about our performance, but there are always suggestions on improving our User Interface here and there for very customized requirments from some of our pro members .
Q. As an individual traders if I will join to one elite team is it necessary to actively trading to recieve any rewards?
I guess at least one trade would be required to mark you as active 😉
Q. Recently, OKEx has placed great emphasis on the development of the OKB token. What tools do you think will be most useful for token holders?
What are the Competetive advantages of OKEx & what incentives and opportunities does OKEx use to attract users to its platform?
I think we praise ourselves with being the one stop exchange for all traders delights, we offer diverse trading products all-in-one platform. Besides spot, margin, perpetual swaps and futures, we also offer options trading. Which we believe is a strong differentiator in the industry. On top of that we are being seen under the top 5 ranking for exchanges by trading volume every single day and we have never been hacked before. A rock solid cyber security team that protects your funds. Your funds are safu 😉
unfortunately I can’t comment much on the OKB token, since that isn’t much of a focus for the trading competition .
Q. Now there are many good crypto Exchange, How is OKEX going to cope with the competition, what is unique about OKEX and why should we choose OKEX as a place for trading and store assets?
yes, great question as well, please check my previous response to VyachCrypto to find the answer to that question. A little difference as well, if that’s important to you: you can also withdraw more funds from our exchange than any other exchange #dailylimits .
Q. Today, there are many new crypto exchanges as well as famous old crypto exchanges facing Liquidity problems & it leads to shutdown, So how you solve this liquidity problem & ensures that users get good liquidity?
more than 50% of our company’s staff is dedicated to user growth, that means we put a strong focus on bringing more users to our platform and with our academy section we are trying to help users understand the entire crypto trading space. What is Bitcoin? What is a wallet? How can I do payments with crypto?
What trading strategies can I start with? How can I invest into cryptocurrencies? What are Futures and Options?
What is the current market situation, how can I trade upcoming market events like the bitcoin halving?
Are typical questions we help answering and support our members to become more successful traders. And in order to challenge your own success, we provide the space to do so with our trading contest.
The focus on user growth and how we help our users to become better traders are a gurantee for sustainable growth and liquidity. You can also follow the daily exchange rankings to keep an eye on how we follow our daily promise of keeping the liquidity high .
Q. OKEX recently launched many Great products like Okex Pool, etc !! So, whats the next product from OKEx we can see in next 1 year ?
I can’t comment on that, I am not involved in the product development process. However, if you think about where cryptoexchanges are heading – not even the heaven is the limit – maybe a crypto bank account or a crypto credit card, we will see .
Q. What are the incentives & mechanics for referring a Trader Team Leader?
that depends on team size, the more members, the higher the incentives, please approach me after the AMA and I can get you direct nubmers. But it’s all part of our referral and incentive program .
Q. This is a massive giveaway. Are you that rich? What’s the motive for this giveaway?
As a cryptocurrency exchange, we see trading competitions as great opportuntiy for traders to connect and we aim to support communities and offer a platform for traders to improve their abilities. We don’t classify ourselves as rich or poor, but we return the profits we make back to the community and developing great exciting products for our loyal customers.
Q. Can you share your experience and journey with the OKEX project?
What is the biggest achievement you are most proud of?
Since I am very new at OKEx I haven’t got many success stories or achievements to share, but I think that I can see already how the european and asian culture at OKEx is getting together to solve problems very innovative and creative. I am very proud to see such great flexiblity at OKEx in solving challenges and we are all very excited to organise the competition and future events for the community and loyal members.
Q. All these trading competitions, they don’t favour we novice traders, just experts win. How will you solve this problem and create special competition for novice?
I think without taking part in a competition you will never know how good you are 🙂
Explore our academy if you think you would like to improve your skills further.
Q. What are the plans of OKEx for Mass adoption and Do you think that you deliver all things that you promised also in given time ?
We have delivered so far and I trust in our ability to deliver upon our promises further. As in every market, only the best surivive, I believe innovation and products that have real need in the market will assure that any company stays atop.
Q. Today many new projects enter the market with many promises. However, we find that most of them cannot tolerate extreme market conditions and discounts. But OKEX is very successful and always in a better position than other projects. So what makes OKEX successful?
The great people that work with us, we pride ourselves in employing the best and most talented in our industry. You can als check out our new Beacon Program.
Q. What are the benefits of the trading competition held these days?
Reward for Team ranking(USDT)
Top 4 & 5
Top 6 – Top 10
Q. Okex is currently a great exchange with variety of Products, But is OKEx has any plans to launch Fiat Currency supported exchange with Fiat/crypto trading pairs ?
We already support buying crypto with fiat, via our fiat-gateway partners. Regarding the integration of fiat trading pairs I am not sure, but it would make a lot of sense and I am confident that we’ll implement such features in near future .
Q. So many users don’t have KYC, particularly users from less developed countries and users that are less than 18 years. Why is KYC so compulsory for the competition? How can you help users that fall into such categories?
We alywas ask users to fill out the KYC requirements, also for normal users who just register at our exchange. In order to avoid fraud and scams, we ask the participants of the competition to fill out additionally KYC2 .
Q. In the end, just whales will have more trading volume and finally win. How can you help we cray fishes with small trading capital to win also?
we’ve got a unique formula on how we rank traders and teams for the competition:
Personal revenue rate = (settlement account balance – initial amount – transfer in amount + transfer out amount) / (initial amount + transfer in amount)
Team revenue rate = (total balance of all team members’ accounts – total initial amount of all team members’ account – total transfer in amount + total transfer out amount) / (total initial amount of all team members’ account + total transfer in amount)
Q. Margin trading is a hot trend right now, not just cryptocurrencies but also forex, stocks, commodities, etc. So what are Okex’s plans to expand the trading pair?
I am not sure on what the plans of our product development team is, but it would make sense to expand to other trading pairs with top volume in the crypto rankings .
Q. Okex exchange has Master account & sub-account options ! But why ? Whats the main reason behind making 2 Account sections ?
there are certain account limitations, for more complex trading strategies we allow users to own sub accounts, for anyone who would like to learn the details of master and sub accounts, please read more here: https://www.okex.com/academy/en/navigating-different-okex-accounts
Q. Okex team consists of experienced and brilliant individuals.
What made them to unite together and work in unison for the fulfilment of it and how does it act as an advantage compared to other projects in terms of brainstorming and guidance?
yes absolutely, we have a great management open for new ideas and providing excellent insights into what worked in the past and how things work in other markets.
Q. Those Investors & Partners, who have invested in okex , how will you make sure that they get goods return & Protect the Value of okex token for them?
as mentioned in previous answers in this AMA, we have a strong focus on growth and value for our loyal users. Without focus on value for the community, we wouldn’t be able to sustainably survive and continue to innvotate
Q. What is actually OKEX STAKING..
What are the requirements for users also any hardware or software requirements??
I am not very strong on the topic Staking, but we have great articles on that in our academy, please find more details there: https://www.okex.com/academy/en/cryptocurrencies-available
Q. Okex is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the Okex message for the Community today?
As explained in previous answer in this AMA, we put a strong focus on grwoth: providing best in class trading products, high liquidity and the safest exchange in the entire market. We are commited and passionate about supporting and growing the crypto community. Thank you very much for your question.
Telegram user id of AMA winners are :
Above winners are requested to sign up on Okex only using our link https://www.okex.com/join/1919489 and join theblockcircle team in Elite Trading Competition using link : https://www.okex.com/trading-contest/team/1365?myTeam=2098
Then you all need to send your email address which you used to sign up to @proplene on telegram within 36 hrs .
Reward will be distributed asap .