Markets News Report
March 25, 2024

OKX Lists Venom Network’s Token, Launches VENOM-USDC Spot Trading

In Brief

OKX has listed Venom Network (VENOM) for spot trading, facilitating users to trade the VENOM-USDT pair, with deposits already available.

OKX Lists Venom Network's Token, Launches VENOM-USDC Spot Trading

Cryptocurrency exchange OKX announced the listing of the Venom Network (VENOM) for spot trading. OKX users can now trade the newly listed VENOM-USDT pair, with deposits for VENOM already enabled. Withdrawals of VENOM will commence at 10:00 am UTC on March 28, 2024.

VENOM serves as the native token of the Venom Network, functioning as a Layer 0 blockchain. Venom Network aims to establish a sustainable and scalable infrastructure for corporate, government, and Web3 applications by providing independent economies on a mesh-network architecture. Moreover, Venom Network bridges the gap between fintech and blockchain financial services, including central bank digital currencies (CBDCs) and financial institutions. The total supply of VENOM tokens stands at 7,200,000,000.

Furthermore, Venom Network achieves real-life processing rates surpassing 100,000 transactions per second (TPS), accompanied by a time to finality ranging from 0.2 to 0.3 seconds and average transaction fees of only $0.0002. These feats are made possible through the utilization of dynamic sharding and a hybrid proof of stake (PoS) consensus mechanism combined with a Byzantine fault tolerance (BFT) algorithm. Venom Network initiated its testnet in 2023.

OKX Expands Global Presence with Turkey Launch and Singapore License Approval

Founded in 2017, OKX is one of the largest cryptocurrency exchanges globally, trusted by over 50 million global users. It facilitated over $75 billion worth of cryptocurrency transactions in February, while its major rival, Binance, recorded a monthly volume of $506 billion. The exchange also provides the OKX Wallet, serving users interested in non-fungible tokens (NFTs) and the metaverse, alongside trading GameFi and DeFi tokens.

Recently, OKX has extended its global reach by launching a regional subsidiary in Turkey. Additionally, the exchange’s Singapore subsidiary has obtained in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore. 

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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