OKX Exchange will review the growth of OKX in 2023 using ten sets of data.
Table of Contents:
1. Exchange: Prioritizing user interests, continuously ensuring the security and transparency of user assets.
2. Web3 Ecosystem: Driven by innovation, continuously building industry infrastructure.
Conclusion
This article is a sponsored post written and provided by OKX. It does not represent the views of the platform and is not investment advice, nor does it provide recommendations for buying or selling. Please refer to the responsibility disclaimer at the end of the article.
At the macro level, global crypto markets have accelerated their recovery due to the Federal Reserve’s pause on interest rate hikes and a series of positive news regarding the potential approval of Bitcoin ETFs by the SEC. At the industry level, the growth flywheel centered around the Bitcoin ecosystem is driving global market trends.
As a global leader in Web3 technology, OKX has achieved remarkable results in this market environment, thanks to its philosophy of technological innovation and compliance. Its achievements in Web3 ecosystem development, in particular, have been widely acclaimed.
This article will review OKX’s 2023 using ten sets of data.
Exchange: Prioritizing user interests, continuously ensuring the security and transparency of user assets.
1. Released 14 consecutive rounds of Proof of Reserves (PoR), with a reserve ratio exceeding 100%.
PoR is designed to verify whether user assets are reserved 1:1 on the exchange, demonstrating its solvency and sufficient liquidity. OKX is the only exchange in the industry that has implemented open-source verification of Merkel Tree, wallet address ownership, and on-chain asset ownership while protecting privacy. OKX allows users to independently verify its solvency while ensuring privacy. As of December 13, 2023, OKX has released 14 consecutive rounds of PoR, with over a million user visits, covering 22 different cryptocurrencies, with a reserve ratio of over 100% in each round.
2. Helped 5,342 users intercept 5,734 phishing withdrawal attempts, recovering assets worth $1.9652 million.
OKX’s risk control team helped 5,342 users intercept 5,734 phishing withdrawal attempts, recovering assets worth $1.9652 million. During this period, 167,654 users entered the contract cooling-off period, helping users mitigate internal and external risks.
3. Launched more than 10 new products, serving over 1 million users.
OKX, guided by user demand and market development, has launched more than 10 new products, including Shark Fin, Snowball, Seagull, Yield Hunter, Strategy Copy Trading, Spot Copy Trading, Reverse Opening, and others. These products cover structured wealth management, strategic trading, and other business lines, creating a diverse product matrix to meet different user needs. By December, the user base for strategy products exceeded 600,000, and the global user base for financial products, such as Easy Coin, exceeded 500,000.
4. Resolved nearly 600,000 user issues, recovering 268,000 wrongly deposited assets.
As a user-centric exchange, OKX resolved a total of 595,506 user issues in 2023, covering 13 languages. It manually helped users recover more than 6,100 wrongly deposited assets and automatically recovered more than 262,410 wrongly deposited assets. The largest amount recovered was 1.2 million USDT. The average response time for online consultations was less than 20 seconds, and the average response time for email/ticket consultations was 25 minutes. The complaint rate throughout the year was less than 0.7%.
5. Continuously empowered OKB, with a 108% increase in value and a total of 27 million tokens burned.
Since 2023, OKB has achieved a growth of over 108% in value, reaching a peak price of $64.89, thanks to its innovative products and strong brand reputation. Additionally, OKB has gone through four token burns, totaling 27,349,474.41 tokens, with a total value exceeding $1.5 billion based on the closing price of $55.06 on December 31. In the future, OKB will be used as gas in X1, a Layer 2 Ethereum network based on ZK zero-knowledge proof technology, jointly launched by OKX and Polygon Labs.
Web3 Ecosystem: Driven by innovation, continuously building industry infrastructure.
6. OKX Wallet supports 80+ public chains, with a 98% increase in users and over 400,000 plugin downloads.
As of December 31, the number of public chains supported by OKX Wallet has increased from 40+ at the beginning of the year to 80+, covering 120,000 digital assets and the most comprehensive popular ecosystems. The number of plugin wallet downloads has exceeded 400,000, and the total number of users has increased by 98% compared to the previous year. The wallet has recorded over 1.2 billion NFT collections, with a total NFT trading volume exceeding $2 billion. Users’ on-chain wealth management assets have exceeded $2.8 billion. OKX has also launched the MPC Wallet and AA Wallet and continues to improve industry infrastructure, focusing on the Bitcoin ecosystem.
7. Ordinals market on OKX Web3 Wallet has a total trading volume of over $1 billion, leading the industry.
According to Dune data, as of the end of December 2023, the total trading volume on the Ordinals market of OKX Web3 Wallet has exceeded $1 billion, with 120,332 independent addresses and a total of 552,818 transactions. The market share of daily trading volume reaches up to 92%, placing OKX at the forefront of the industry. Currently, the OKX Web3 Wallet Ordinals market is the largest BRC-20 token and BTC NFT trading market, with over 16,000 BRC-20 tokens available for trading. The OKX Ordinals market is fully decentralized, provides free platform services, and supports batch transfers, transactions, engraving of BRC-20 tokens, BTC NFT, and other functions.
8. OKX DEX achieved a yearly trading volume of $1.7 billion, a 200% increase compared to the first half of the year.
OKX DEX has integrated over 400 DEX and 20+ cross-chain bridges, with a total trading volume of $1.7 billion across all chains. In the first week of December alone, the trading volume reached $92.3 million, on par with Metamask and Kyberswap. Compared to the first half of the year, it has grown by 200%. OKX has established complete automated detection capabilities for risk token detection, push, contract access, abnormal trading, and quotation results.
9. The NFT market has recorded approximately 20 million transactions, with a total trading volume of $2.366 billion.
As of the end of December, the OKX NFT market has recorded approximately 20 million transactions, with a daily trading volume of approximately $6.5 million and a total trading volume of $2.366 billion. Influenced by the NFT trend, the OKX NFT market has become the second-largest NFT market in terms of trading volume, occupying 32% of the market share, within just two months (November and December).
10. Identified over 880,000 high-risk tokens, 17 million blacklisted addresses, and provided 710,000 risk domain name warnings.
Throughout the year, OKX has identified over 880,000 high-risk tokens, including 620,000 Pixiu tokens and 160,000 airdrop tokens. It has blacklisted 17 million addresses, including 90,000 phishing addresses. Moreover, it has provided warnings for 130,000 risk domain names, with a total of 710,000 risk domain name alerts. Additionally, the Web3 team has introduced features such as risk transaction masking to address issues related to airdrop tokens and NFT poisoning. It has also implemented Flashbot anti-MEV attack features and integrated the Certik security rating system to provide users with a comprehensive understanding of project security ratings and on-chain risks.
Conclusion
The above ten sets of data not only represent achievements but also reflect the responsibility of being a global platform. In 2024, OKX will continue to adhere to its long-term values, drive Web3 industry development through technological innovation, invest in the OKX Web3 ecosystem, and prioritize user interests to ensure transparency and security of user assets.
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Disclaimer: This article is a sponsored content provided by a contributor. The contributor and OKX are not affiliated, and the article does not represent the views of OKX. The article does not provide investment or asset advice or legal opinions, and should not be considered an offer to buy, sell, or hold assets. Any services, programs, or tools mentioned in this sponsored content are for reference only, and the actual content or rules are subject to the contributor’s announcement or explanation. OKX does not take responsibility for any potential risks or losses. Readers are reminded to conduct their own careful verification before making any decisions or actions.