- OKX’s P2P Crypto Market allows users to trade any cryptocurrency across six chains with very limited risk of transaction slippage
SINGAPORE, Sept. 13, 2023 (GLOBE NEWSWIRE) — OKX, a leading Web3 technology company, today announced the launch of its P2P Crypto Market on the OKX Wallet, enabling users to trade crypto in a decentralized market via a peer to peer structure. This solution greatly reduces the risk of transaction slippage that can be seen on other DEXes that operate via an Automated Market Marker.
With OKX’s P2P Crypto Market users can trade any cryptocurrency with a reduced risk of slippage across six chains (ETH, BSC, OKTC, Polygon, Arbitrum and Optimism). The market also allows customers to post ads to buy and sell tokens, while also supporting block trades for larger orders. OKX Wallet is the first multi-chain wallet to support a decentralized peer-to-peer market via over-the-counter (OTC) orders.
OKX Chief Innovation Officer Jason Lau said: “The P2P Crypto Market on the OKX Wallet offers users an entirely new way to swap tokens peer to peer onchain. This first of its kind trading market empowers users to trade cryptocurrencies directly with one another across multiple chains with clear pricing and greatly reduced slippage. We hope that this new alternative to existing onchain trading options will deliver a more seamless and familiar trading experience, especially to users that have used P2P marketplaces before.”
OKX Wallet currently supports account abstraction technology on seven blockchains: Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche and OKT Chain. It is also the first Web3 wallet to utilize multi-party computation (MPC) technology across 37 blockchains, eliminating the need for traditional written down keys and seed phrases by splitting a user’s private key into three parts, greatly improving security and eliminating a single point of failure.
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A leading global technology company driving the future of Web3, OKX provides a comprehensive suite of products to meet the needs of beginners and experts alike, including:
- OKX Wallet: The world’s most powerful, secure and versatile crypto wallet which gives users access to over 70 blockchains while allowing them to take custody of their own funds. The wallet includes MPC technology which allows users to easily recover access to their wallet independently, removing the need for traditional, ‘written down’ seed phrases. In addition, OKX Wallet’s account abstraction-powered Smart Account enables users to pay for transactions on multiple blockchains using USDC or USDT, and interact with multiple contracts via a single transaction.
- DEX: A multi-chain, cross-chain decentralized exchange aggregator of 300+ other DEXs and approximately 15 bridges, with 200,000+ coins and more than 20 blockchains supported.
- NFT Marketplace: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings across seven top-tier marketplaces including OpenSea, MagicEden, LooksRare and Blur.
- Web3 DeFi: A powerful DeFi platform that supports earning and staking on about 70 protocols across more than 10 chains.
OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, Olympian Scotty James, and F1 driver Daniel Ricciardo.
As a leader building innovative technology products, OKX believes in challenging the status quo. The company recently launched a global brand campaign entitled, The System Needs a Rewrite, which advocates for a new paradigm led by Web3 self-managed technology.
To learn more about OKX, download our app or visit: okx.com
The information displayed is strictly for informational purposes only. It does not constitute and shall not be considered as an offer, solicitation or recommendation, to deal with any products (including any NFT or otherwise), or as financial or investment advice. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
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