OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its participation in a US$50 million Series A funding round for Eclipse, a pioneering Ethereum Layer 2 solution utilizing the Solana Virtual Machine (SVM).

Eclipse is committed to offering a Layer 2 that excels in speed, security and scalability, promising an environment where powerful applications can seamlessly interact among millions of users.

Eclipse Labs Founder Neel Somani said: “Eclipse aims to be the quickest Layer 2 on Ethereum, leveraging the most efficient components of the available modular stack. To cater to 99% of use cases, Ethereum requires a single, scalable and composable Layer 2. While other Layer 2 ecosystems have focused on full EVM compatibility, this has resulted in a fragmented and slow Layer 2 landscape. Eclipse fuses the high-performance SVM with Ethereum’s vast liquidity pools, ensuring verifiability.”

OKX Ventures Founder Dora Yue said: “Eclipse stands out for its unique approach that empowers builders and users alike, and enables developers and users to creatively piece together DApps and protocols. In addition, Eclipse excels in providing a platform for builders to thrive, resulting in an enhanced user experience. Users can also easily provide transaction feedback, trusting the Ethereum-backed SVM. At OKX Ventures, we’re committed to supporting user-friendly and innovative projects.”

OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its strategic investment in DeBox, a decentralized social networking platform for Web3 communities and Decentralized Autonomous Organizations (DAOs). 

Over the past two years, DeBox has committed itself to serving the Web3 community, generating over 10 million posts and attracting more than 690,000 mobile users. The platform offers a range of features such as the formation and governance of DAOs, networking and social trading opportunities, the setup of decentralized identifier (DID)-based profiles and NFT avatars, and ability to earn tokens for publishing content, among others.

DeBox also offers a token swap solution, DeSwap, which allows users to swap tokens across seven supported blockchain networks. These include Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, zkSync Era and Avalanche.

OKX Ventures Founder Dora Yue said: “We are motivated to invest in DeBox because of its potential to transform social use cases within the Web3 space, making it easier to onboard the next billion users. DeBox leads its community with a DAO format, enabling seamless wallet access and engagement through unique NFT avatars based on animal characters and DID names. DeBox enhances its user experience with interactive DApps, fostering the sharing of ideas, content management, and providing trading or staking options.”

OKX Ventures’ investment aims to cultivate a more inclusive and interactive Web3 space. This aligns with the shared vision of OKX Ventures and DeBox for a decentralized future.

OKX today announced a Snap Quest Campaign, in celebration of the launch of its new Snap Mode powered by UniSwapX. Users who complete tasks including following OKX Web3 on social media and executing a swap transaction on OKX DEX using Snap Mode, can win a chance to claim a share in a prize pool worth 5,000 USDT.

To be among the 500 lucky recipients to win a portion of the 5,000 USDT, users must complete a swap transaction of at least USD10 on OKX DEX via the OKX Wallet using Snap Mode, and claim an On-Chain Achievement Token (OAT) to solidify the entry. Participants are also required to follow @okxweb3 and @okxchinese on X, and retweet our campaign announcement. Please refer to this website for campaign details.

OKX Snap Mode allows users to access optimal pricing and swap tokens on Ethereum quickly and intuitively without incurring any gas fees, creating more intuitive trading and comprehensive DeFi experiences.

OKX announced the launch of its Snap Mode which operates directly on the OKX DEX interface via UniSwap Lab’s UniSwapX protocol on February 29, 2024, making it the first major industry player to fully integrate with UniSwap Labs’ trading APIs.

 OKX, a leading global Web3 technology company and crypto exchange, today announced the release of its 16th consecutive Proof of Reserves (PoR) report, highlighting a total of USD17.7 billion and an average reserve ratio of 104% in primary assets.

OKX’s PoR report provides a detailed overview of the reserve ratios of the most frequently traded assets on the platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH. OKX included Bitcoin Cash (BCH) in its PoR report for the first time in January 2024.

Reiterating the consistency of previous reports, OKX’s 16th consecutive monthly PoR report reveals reserve ratios of over 100% for all of these assets, thereby ensuring that user funds are backed on a 1:1 basis.

The current reserve ratios for OKX’s primary assets are as follows:

• BTC: 103%
• ETH: 104%
• USDT: 105%
• USDC: 104%

OKX Global Chief Commercial Officer Lennix Lai said: “As we navigate the dynamic crypto landscape, we want to make sure our dedication to transparency and ensuring the security of our users’ assets continues to set us apart. Reaching the 16th iteration of our PoR report is a testament to our ongoing efforts to uphold these standards and fuels our drive to continually raise the bar.”

Since the inception of the program, OKX has integrated various updates and improvements to its PoR based on user feedback. In 2023, OKX incorporated the Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology into its PoR process, a technology that enables users to independently verify the solvency of the exchange while ensuring the backing of their assets by the reserves, with no compromise on privacy.

Users can view OKX’s latest PoR report, reserve ratios and verify the exchange’s solvency here.

OKX Lists T and ICX Tokens on its Perpetual Futures Market, Enables Margin Trading and Simple Earn for the Tokens

OKX is pleased to announce the listing of T and ICX on its perpetual futures market. Starting from 8:30 am (UTC) on February 23, 2024, users will be able to trade T/USDT with up to 20x leverage. T margin trading and Simple Earn will also be enabled at 8:00 am (UTC) on the same day.

In addition, the ICX listing will arrive at OKX at 10:30 am (UTC) on February 23, 2024. Users will have the opportunity to trade ICX/USDT with up to 20x leverage. ICX margin trading and Simple Earn will be introduced at 10:00 am (UTC) on the same day.

The updates will apply to both web and app interfaces as well as the API.

OKX is committed to providing a diverse range of trading solutions and listings. The inclusion of T and ICX to its perpetual futures market is part of this ongoing commitment.

OKX today announced a merch giveaway on X (formerly Twitter). This giveaway is part of OKX’s ongoing efforts to engage and reward its supportive community.

Each week, followers will get a chance to enter OKX’s lucky draw for the opportunity to win exclusive OKX-branded merchandise, such as hoodies and bags. To enter the giveaway, participants simply need to:

• Follow OKX’s X account;
• Comment on OKX’s X posts with the hashtag #OKXMerchDrop; and
• Repost this giveaway announcement while tagging three friends

Winners will be announced every Tuesday. The giveaway is limited to one entry per participant. Winners will be announced within five working days after each weekly promotion ends.

OKX, a Web3 technology company has launched its “Trade like a pro” campaign in Brazil. The series highlights the stories of three famous Brazilian crypto traders (Rodrigo, Alexandre and Luiz) who use the OKX platform for their trading activities.

The series features three professional traders explaining why they switched to OKX and highlighting their favorite features of the platform. Rodrigo explains how easy it is to use the platform and the importance of it being available in Brazil. Alexandre discusses how to manage risk and why security is so important, while Luiz explains why OKX’s proof of reserves ensures assets are fully backed and transparent.

Haider Rafique, Marketing Director at OKX, stated: “We want users to understand what crypto and Web3 are from experts, who share their experience and everything they have learned along the way. One of the biggest fears of newcomers is the fear of failure. With our “Trade like a pro” campaign, we help users understand that, with the right knowledge, you can also start trading responsibly. We hope that this initiative creates good habits among our community in Brazil.

Guilherme Sacamone, CEO of OKX Brazil, said: “Rodrigo, Alexandre and Luiz are an example of the new generation of Brazilian crypto traders who trust OKX for the features of our platform that power advanced trading strategies. What they have achieved with our products and services serves as inspiration for us and we can’t think of a better way to showcase our solutions than by giving them the opportunity to share their story and experiences in this campaign.