OKCoin adds trading suspension to curate asset marketplace

Getting your Trinity Audio player ready...

OKCoin provides easy and global fiat access to the crypto ecosystem. Today, users in over 180 countries come to our platform to trade USD and EUR for over 20 crypto assets. Each asset in our diverse marketplace meets our listing criteria. This year alone, we listed TRX, GRIN, DCR, EOS, EURS, USDK, and HBAR.

Now we’re building on top of this foundation. Our premier program empowers professional traders with dedicated service and exclusive product features. Most recently, we updated our trading fees to ensure we are the most cost-effective venue for fiat to crypto trading. 

Similarly, we are curating our asset marketplace by suspending trading for low-volume assets. A trading suspension will only impact the ability to trade, and not your ability to deposit, store, and withdraw these specific assets. By suspending these low-volume assets, our exchange liquidity will be pointed more consistently at the assets that you care about, resulting in even more active and deeper markets.

Here is an overview of our asset curation process:

1. Every month, we’ll review our assets on platform to determine whether a suspension in order. Assets will be considered if they meet the following criteria:

• Duration on platform: Assets that have been listed for longer than 6 months
• Trading activity: Assets that are in the bottom 25% of monthly activity
• Negligent volume: Assets that have negligent trading volume

2. We’ll assess the growth potential of the assets that meet the above criteria to determine whether they should be considered for a trading suspension.
3. We’ll announce the assets under consideration for trading suspension (if any). We will review feedback from our broader community before finalizing any suspension.
4. We’ll then publish the finalized assets that will be suspended, providing you with enough advance notice. You are still welcome to keep the suspended asset on the OKCoin platform.

As the first iteration of this process, we’re announcing the following list of assets under consideration for trading suspension: ADA, BAT, GRIN, GUSD, ZEC, ZRX. For the next week, we will continue to ask for your feedback. Then on November 11, 2019, we will announce which of these assets will be suspended.

Of course, trading suspension is just one side of the process — the other side is our listing best practices, which we use to evaluate new assets. Of the many assets we continuously monitor, some assets stand out as potentially valuable additions in the near term: DAI and a gold-backed token. 

We believe this new process ensures a more user-friendly marketplace guided by user demand. If we see increased or renewed interest in a suspended asset, we’ll turn trading back on. If we do not see tangible user interest after three months, we’ll consider delisting the asset.