OKT Chain

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world andcurrently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giantBinance, but there are a few key differences. The OKEx platform has its owncloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-inAPI for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions formargin trading.

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

To learn more about this project, check out our deep dive of Huobi Token.

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance. Having its own token allows Huobi to build a flexible marketing strategy in order to attract new users and further grow its platform.

One key function of the token is to reduce commissions for trading operations on the exchange, which are usually paid from users' wallets. Yet the token has much more to offer. Using HT, users can purchase monthly VIP-status plans to receive discounts on transaction fees. Token holders have the right to vote on exchange decisions, can receive crypto rewards for seasonal buybacks, and also get early access to special events. HT holders can, at any point, trade the token for other cryptocurrencies.

Huobi Token

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.

The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.

OMG Network

The VGX token serves as a cross-platform and cross-chain token focused on the gaming space. The goal of the VGX Foundation is to partner with projects and companies to integrate VGX in games and platforms, offering rewards and ownership for players regardless of the chain the game is built on.

VGX Token

GateChain is a public blockchain which facilitates digital asset transfers, and claims to be “dedicated to asset safety.”

The network’s native token is GateToken (GT). It’s mainly used to pay transaction fees, but users can also stake it to validate transactions and secure the network in exchange for rewards.

GateChain offers an on-chain wallet for users to manage their digital assets directly on the network itself, thereby eliminating the need for a third-party wallet. It’s also fully integrated with the Ethereum Virtual Machine (EVM), making it easy to deploy Ethereum-based smart contracts on the platform.

GateToken

MX TOKEN (MX) is the native cryptocurrency token released by centralized exchange (CEX) MEXC in 2019. MX powers the MEXC ecosystem and provides its holders with access to unique functionality and other benefits of the platform. Holders have the right to vote on business decisions, team elections and gain priority participation in activities and more.

MEXC is a crypto exchange and P2P platform that provides access to spot, margin and futures trading. The exchange offers a versatile digital asset trading service, passive investment staking, DeFi tools and more. MEXC supports buy/sell transactions using fiat through the P2P market.

MX Token

KCS is the native token of KuCoin, which was launched back in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralized trading solution goes live, KCS will be the native asset of KuCoin's decentralized financial services as well as the governance token of the KuCoin community in the future.

KuCoin has also announced that “Empowering KCS'' will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to further diversify the benefits that KCS holders can access. In the long run, KCS performs as the key to the entire KuCoin ecosystem. With the development of DEX and KuChain, KCS will also be the underlying fuel and general token for future KuCoin decentralized products. More details will likely be released in the near future.

KuCoin Token

The Bitcoin Standard Hashrate Token (BTCST) was launched on Binance Smart Chain (BSC) on Dec. 13, 2020. It is collateralized by Bitcoin’s (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. As such, miners contribute their computational power to the platform in exchange for newly minted BTCST tokens.

BTCST’s goal is to bridge liquidity to Bitcoin’s mining market. This will allow users to get exposure to mining rewards and hashpower of any size, at a low cost. The ultimate goal of the app is to increase the liquidity and efficiency of mining power markets.

Bitcoin Standard Hashrate Token

BitShares Blockchain is a decentralized “Blockchain as Organization” (BaO); an industrial-grade decentralized open source platform built to run high-performance financial technology operations. It represents the first decentralized autonomous decentralized community that enables its core utility token (BTS) holders to decide the Blockchain future direction in order to develop and maintain a wide range of decentralized financial technology products, features and functions. BitShares Blockchain is a Blockchain that permanently records financial technology operations between different Blockchain accounts and facilitates a wide range of access controls across BitShares Blockchain user financial means.

BitShares Blockchain is a technology that supports the digital generation entrepreneurs, investors, and developers with a common interest in building and participating in free market solutions by leveraging the power of globally decentralized consensus and decision making. Consensus technology has the power to do for economics what the internet did for information. It can harness the combined power of all humanity to coordinate the discovery and aggregation of real-time knowledge, previously unobtainable. This knowledge can be used to more effectively coordinate the allocation of resources toward their most productive and valuable use.

BitShares looks to extend the innovation of the Blockchain to all industries that rely upon the internet to provide their services. Whether its banking, stock exchanges, lotteries, voting, music, auctions or many others, a digital public ledger allows for the creation of distributed autonomous companies (or BaO) that provide better quality services at a fraction of the cost incurred by their more traditional, centralized counterparts. The advent of (BaO) ushers in a new paradigm in organizational structure in which companies can run without any human management and under the control of an incorruptible set of business rules. These rules are encoded in publicly auditable open source software distributed across the computers of the companies’ shareholders, who effortlessly secure the company from arbitrary control. BitShares does for business what bitcoin did for money by utilizing distributed consensus technology to create companies that are inherently global, transparent, trustworthy, efficient and most importantly profitable.

BitShares has went through many changes and has done its best to stay on top of Blockchain technology. BitShares is using Consensus as the mechanism by which organized people decide upon unitary rational action. While not considered technology in the traditional since, consensus “technology” is the basis of democratic governance and the coordination of free market activity first coined by Adam Smith as the “Invisible Hand.” The process of consensus decision-making allows for all participants to consent upon a resolution of action even if not the favored course of action for each individual participant. Bitcoin was the first system to integrate a fully decentralized consensus method with the modern technology of the internet and peer-to-peer networks in order to more efficiently facilitate the transfer of value through electronic communication. The proof-of-work structure that secures and maintains the Bitcoin network is one manner of organizing individuals who do not necessarily trust one another to act in the best interest of all participants of the network. The BitShares ecosystem employs Delegated Proof of Stake in order to find efficient solutions to distributed consensus decision making.

BitShares

Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi). (DeFi).

Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.

In light of the popularity of DeFi and the growth of DEXes on Ethereum, users and developers are limited by high gas costs and slow transactions. Serum aims to resolve these traditional problems of DeFi, as well as issues of centralization, low capital efficiency, and liquidity segmentation.

The SRM utility and governance token enables users to receive discounts on protocol fees and voting rights; 100% of exchange fees flow back to SRM via buy-and-burn, staking rewards, and ecosystem grants.

Serum

Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC).

The protocol introduces a simple-to-use crypto asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. In addition, Venus allows users to mint VAI stablecoins on-demand within seconds by posting at least 200% collateral to the Venus smart contract.

VAI tokens are synthetic BEP-20 token assets that are pegged to the value of one U.S. dollar (USD), whereas XVS tokens are also BEP-20-based, but are instead used for governance of the Venus protocol, and can be used to vote on adjustments—including adding new collateral types, changing parameters and organizing product improvements.

The governance of the protocol is entirely controlled by XVS community members, since the Venus founders, team members and other advisors do have any XVS token allocations.

Venus

Fusion

MDEX is a new decentralized trading protocol that launched in January 2021.

MDEX is an automated market making (AMM) decentralized exchange protocol that operates on the concept of fund pools, sharing some similarities with standard DEXs, but differentiating itself from competitors by using a dual-chain model modeled on both the Ethereum network and the Huobi Ecological Chain (HECO), which gives it access to the liquidity of the Ethereum ecosystem.

A trading platform built on top of HECO, MDEX has an estimated cost for token swaps at $0.001 for each trade, with a transaction speed of three seconds.

Mdex

WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals.

To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.

Services such as WAX Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. WAX’s blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.

SafePal is a cryptocurrency wallet launched in 2018 that helps users to protect and grow their digital assets. SafePal provides hardware and software wallets, all paired and managed through the SafePal App and was the first hardware wallet invested in and backed by Binance.

SafePal wallet supports numerous popular crypto-assets, in addition to popular tokens on the Ethereum, Binance Smart Chain (BSC)and TRON blockchains. Users can store, manage, swap, trade and grow their portfolio without compromising asset security, according to SafePal.

Since its launch in 2018, SafePal has grown exponentially and has over 3,000,000 users in 196 countries globally. More information can be found in the SafePal Official Website.

SafePal

FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX that launched on May 8, 2019. On Nov. 11, 2022, FTX filed for Chapter 11 bankruptcy protection in the U.S., and is currently undergoing proceedings. Some of the information below may not reflect the current standings of the FTX exchange, please proceed with caution when interacting with the FTT token.

The team behind FTX comprises some of the largest crypto traders over the past few years who, having found issues with most mainstream crypto futures exchanges, decided to launch their own platform. FTX claims that it stands out due to such features as clawback prevention, a centralized collateral pool and universal stablecoin settlement. FTX is a centralized crypto exchange launched by Sam Bankman-Fried in 2019, backed by significant trading companies in the industry, including Almeda Research, OTPP, Temasek, BlackRock, Coinbase Ventures and Sequoia Capital. As of 2022, the platform has over a million registered members, and the daily trading volume has reached billions of dollars.

In regards to clawback prevention, a significant amount of customer funds on other derivative exchanges have been claimed by socialized losses. FTX reduces this by using a three-tiered liquidation model.

On existing crypto futures exchanges, the collateral is fragmented across separate token wallets; this can be difficult for traders as it prevents positions from getting liquidated. On the other hand, FTX derivatives are stablecoin-settled and only require one universal margin wallet.

Another feature of the FTT are leveraged tokens, which allow traders to put leveraged positions without the need to trade on margin. If a trader wants to short Bitcoin with 3x leverage, they can simply buy a 3x short Bitcoin leveraged token on FTX. These tokens are ERC20-compatible and can be listed on any spot exchange. FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged tokens.

A year after its founding, FTX Exchange introduced the exchange token called FTX Token or FTT. The FTT coin is an ERC-20 standard token that is actively used by ecosystem participants.

Initially, FTT was established as a reward for exchange transactions; however, over the years the list of functions has grown:

FTT is applicable in the creation of leveraged tokens on the FTX Exchange; users can receive VIP discounts in the form of FTT depending on the number of coins they own, and it’s possible to earn rewards for providing liquidity through futures positions.

In order to maintain its value, the exchange regularly buys back and burns its tokens, spending on the purchase of FTX: 33% of trading fees, 10% of the reserve fund, and 5% of other commissions.

FTT Token use cases:

1/3 of the commissions received from transactions on FTX are utilized to buy back FTT. Tokens redeemed in this way are burned;

FTT tokens are used to reduce trading fees and to secure futures positions;

Profits from massive market movements are distributed among the holders;

By purchasing a white label version of FTX’s OTC portal and futures market, institutions and investors pay expenses in FTT tokens;

By creating leveraged tokens, projects can pay listing fees with FTT;

Users can stake FTT to benefit from discounts, bonus votes, and blockchain fee waivers.

One benefit of FTX Token (FTT) is commission discounts. Members pay a low fee and obtain tighter spreads. Traders use FTT as collateral, and those who are active on FTX Exchange see percentage differences of up to 60%. Traders get insurance protection, which ensures a net profit in moments of market volatility, then makes it possible to continue trading even without a margin call.

In addition to the fact that FTT is useful for opening positions with leverage, FTT staking also offers perks: discounts, the opportunity to win NFTs, participation in airdrops, bonus votes and IEO tickets.

FTX Token

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DAO Maker (DAO) is an incubator that provides growth technology and SaaS solutions for crypto startups. The goal of this project is to help startups secure venture capital funding by making it simpler for investors to locate projects in which they can securely invest via IDOs.

DAO Maker works by helping new projects build their communities and then converting these communities into value-adding members of a DAO using tokens.

Retail investors can invest in digital assets and stocks at an early stage through the platform’s investment system, DAO Pad. It’s designed to help crowdfund young protocols by appealing to small-scale investors.

In addition to this investment system, the company also incubates new projects, gives users social mining rewards, and offers advisory services and advice on how to run their companies.

Several successful projects have been launched through DAO Maker, including Orion Protocol, My Neighbor Alice, LaunchX, and DAFI Protocol. The platform also helped launch Seascape Network (CWS) and Infinity Pad (IPAD).

DAO Maker

Launched in 2017 and stewarded by the Horizen DAO, the Horizen ecosystem is optimized for zero-knowledge use cases. The Horizen 2.0 network leverages full EVM compatibility and native integration with zkVerify, a modular solution for proof verification, which can reduce costs by 90% or more. Horizen is the first to build a specialized EVM optimized for ZK app development, bringing unprecedented efficiency and cost-effectiveness to ZK applications.

Developers of ZK dApps often encounter difficulties in writing and auditing verifier contracts, which are essential for verifying ZK proofs. The need for a more streamlined and secure solution has led to the development of Horizen 2.0, which offers built-in precompiled contracts (also known as precompiles) to handle proof verification, thus reducing development overhead and enhancing security.

Horizen 2.0 utilizes the Substrate framework to structure its node architecture into two main components: the Core Client and the WebAssembly (Wasm) runtime. This division allows for a modular and efficient design where there is a clear separation of responsibilities.

There are a wide variety of use cases for using zero-knowledge technology in decentralized applications, including identity verification, DeFi, voting systems, onchain gaming, verifiable computing, machine learning, and media authentication.

ZEN is the governance and utility token of the Horizen ecosystem.

Horizen

Ethereum-based DYDX ($ethDYDX) is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol built on Ethereum ("dYdX v3"). ethDYDX is currently undergoing a migration from Ethereum to the dYdX Chain. More information is available here. If you want to migrate ethDYDX to dYdX Chain DYDX, to enable staking, security and governance of the dYdX Chain you can follow the how-to-bridge guide here.

If you want to read about the new token utility for dYdX Chain DYDX you can read the blog here

ethDYDX (dYdX) is the governance token for the layer 2 protocol built on Ethereum. By enabling shared control of dYdX v3, ethDYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced dYdX v3.

Built on StarkWare’s StarkEx scalability engine, layer 2 is used for trading of cross-margined perpetuals on the platform. The scaling solution allows dYdX to increase transaction speed, eliminate gas costs, reduce trading fees and lower​​ minimum trade sizes on the protocol.

A total of 1,000,000,000 ethDYDX have been minted, and started to become accessible over five (5) years, on August 3rd, 2021, at 15:00:00 UTC.

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