Current price: $0.004 Current Market Cap: $12 mil
Source: https://medium.com/@jgharmsma/oceanex-oce-for-dummies-64636e512404
All crypto exchanges are doing the same thing at first sight. But are they really?
Let me introduce you to the exchange that will do things very differently and that will, in my opinion, slowly take over the world. OceanEx will do this with innovative features like no other exchange has to offer. I will try and explain these major differences within this article.
I combined lots of articles and information into one easy to understand write-up. Also Richie (OceanEx pilot whale) gave me support through Telegram by answering questions. I will present all information as a summary, with a focus for the OceanEx, and maybe even crypto newcomers. I will, like always avoid too many or too complicated words :-) You can find the project I’m talking about here: https://www.oceanex.pro
Ocean Exchange
OceanEx is a crypto exchange created for the VeChain ecosystem. Almost all projects currently listed on the exchange are Vechain family members like VET, SHA, PLA, DBET, VTHO, TIC and BAG.
Of course OceanEx also accepts crypto currencies from outside of the Vechain ecosystem. These projects need to be quality projects though, as the ecosystem aims for valuable transactions.
All coin listings will be paired with Vechain (VET). VET is the dominant asset on the platform. This is different from other exchanges where we normally see Bitcoin and Ethereum as dominant pairs.
The exchange also differs from other exchanges by implemented technology or unique techniques that will be implemented in the (near) future. I will walk you through some of those later on in this article.
OceanEx (OCE) token
OCE is the OceanEx exchange token. (Like BNB on Binance) You can use OCE in your advantage by either using it as payment or holding it for discounts. Of course OCE can be used to speculate as well. Let’s mention a few possibilities:
You can use OCE to pay for fees like transaction and withdrawal fees.
Hold OCE to receive trading fee discounts depending on the amount you hold on the exchange. This is called the OCE club program.
Use OCE for voting rights in project listing pools.
Receive invitations to OceanEx’s community events and meetups.
Gain access to the market research center in OceanLab (see below).
And maybe buy merchandise inside the OceanEx shop?
OceanEx will announce more options in the future.
OceanBrain
“I believe the platform security is something that makes OceanEx different from others in the long run because we have heavily invested in our infrastructure building and combined it with AI technology” stated by COO Wei Wang.
OceanBrain is the integrated artificial intelligence (AI) system of OceanEx covering the security of the platform.
A significant concern of cryptocurrency exchanges is platform security, where there are numerous major incidents reported by large cryptocurrency exchanges involving account hacking and/or theft of funds. This is why OceanEx did not hesitate to spend as much as needed on their security.
OceanBrain is capable of governing the platform security through monitoring mass behavior and detecting malicious transactions to secure customer funds.
In addition, algorithms oversee the entire exchange platform and verify if the distribution of trading orders from all users are normal, or have deviated from the expected norm.
OceanBrain uses historical data generated on OceanEx to do it’s magic but combines this with human generated information. It’s basically a hybrid model.
Wallets
OceanEx uses a hot wallet, cold wallet and even a frozen wallet. Trade data gets analysed every day, making sure there is no more amount on the hot wallet than really needed.
The hot wallet contains as many tokens as needed for users to withdraw from the exchange based on an average. It’s the same method banks are using for paper money inside ATM’s.
Not all customers will withdraw 100% of there savings all at once. The same goes for crypto exchanges. The cold and frozen wallets are much more secure and will keep most of the funds extremely safe!
Not the real situation. But you get the idea!
OceanQuant
Okay, here is where things get a bit more complicated. Let’s keep this very summarized. If you are not into API trading, skip this part :-) OceanQuant provides a platform for cryptocurrency trading, including a set of trading API’s (python based) that allow users to retrieve market statistics, analyze the historical market and its changes and place orders automatically through programming language.
Users will be able to upload own historical data and use their algorithm based on this data. OceanQuant will allow the use of high performance trading bot containers.
OceanMarket
This is interesting! Users will be allowed to publish strategies to OceanEx. In fact this will be some sort of social trading platform. You can follow a specific user and invest in this user.
You will earn commission based on the performance of this user. This can be a personal friend or an amateur trader up-to a very large professional trader! You can see the historical results and much more. OceanEx will combine this generated data for use in a social experience. <- actually very cool!
Imagine this platform and compare this to other exchanges. They would look like exchanges from the stone-age, right?
OceanEx Community
Building a large and engaged community is a priority for OceanEx. Lot’s of community members are actually concerned with the operation of the platform. Community events are being organized around the world.
I actually joined the community meeting in Amsterdam and was able to meet many of the dedicated community members.
Also the Safe Haven team and Vechain’s CEO Sunny Lu were there. Lots of online events are being organized like for example trading battles and social media challenges. OceanEx also recruits ‘OceanEx Pilot Whales’ to support the community. These pilot whales are recruited from existing OceanEx telegram community members.
Only members who are passionate about the blockchain / cryptocurrency industry, and are willing to contribute to the growth and development of OceanEx, are considered. Pilot whales will receive some nice perks for the time they invest into the OceanEx platform.
OceanLab
I cannot tell you a lot about this part of OceanEx as most of the details are still unknown. What I do know is this will become the research and development part of the company. They will work together with academic research labs for product innovation. The aim is to enhance OceanEx and keep the exchange competitive.
FIAT gateway is what the community wants!
FIAT gateway?
OceanEx is closely working with different regulators to provide Fiat to Crypto exchange services for many major fiat currencies. But nothing is live at this moment. The community has been speculating about this part for a long time now. It is almost certain OceanEx will be releasing a FIAT gateway solution in the near future.
Partnerships
OceanEx is working close with Koi Compliance. This company basically delivers all kind of compliance solutions.
By working together with Koi OceanEx is instantly approved for everything :-) Based on this partnership OceanEx has raised the withdrawal limit for non-KYC (know your customer) users to $10.000.
OceanEx also works with a company called CertiK. CertiK will help building a transparent, fair and secure ecosystem. They will also be able to supply a ‘second layer of security’ as they can check programming code and suggest all kinds of extra security improvements.
OceanEx and Safe Haven have signed a memorandum of understanding on December 12th, 2018. This document includes an agreement between both companies to engage in an effort to integrate Safe Haven’s inheritance platform at OceanEx cryptocurrency exchange. If you don’t know anything about the inheritance platform Safe Haven has to offer you, you can continue reading here…
FOMO
This is easy. The Vechain ecosystem will be huge. OceanEx will be the leading entity of this ecosystem as all assets will be traded on OceanEx.
Large companies will have to deal with OceanEx. A FIAT gateway will almost certainly be enabled in the near future as I mentioned earlier.
The OCE token will moon like no other exchange coin did before. Period. End of discussion.
OceanEx general information
Official Telegram group: https://t.me/OceanExOfficial Official website: https://www.oceanex.proOceanEx on twitter: https://twitter.com/OceanexOfficial You can buy OCE tokens over here:https://oceanex.pro/nl/trades/ocevet If you do not know how exchanges work, I recommend you to visit the OceanEx community group (https://t.me/OceanExOfficial) and ask. Lots of people over there willing to help and explain.
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