OKX CEO Jay Hao stated that some people are demanding that the exchange list the emerging BRC-20 tokens. In conclusion, he highlighted certain conditions that must be met before such a listing can be made. Hao emphasized 5 basic principles for these altcoins.
OKX listing policies for altcoins
OKX CEO greatly appreciates the thoughtfulness of his friends who suggested listing more BRC-20 tokens. Hao notes that, in the first place, this will help the stock market make money faster. However, he says this simple strategy is detrimental to the market. “OKX never wants to be the most aggressive listing exchange in the industry,” Hao adds.
He also states that OKX may not be the biggest player in the market, but it also has certain long-term philosophies guiding the exchange’s token listing. Overall, these philosophies include “building the infrastructure” for altcoins, the pure heart of the team, and being “as transparent as possible” along with technological focus.
To put it into perspective, Hao breaks down these philosophies into listing five principles. First, before any token is listed on OKX, the platform checks whether the token is Blockchain technology and product focused. It then measures the token’s popularity in the community. Because he states that the exchange will not want to list a token that users are not familiar with. Hao also lists 3 more conditions for altcoins.
Seeking regulatory compliance for BRC-20 tokens
Third, OKX controls the exchange’s project founder and investor team. He is trying to determine whether these people are long-term builders. This is likely to determine their experience level and the integrity of their tokens over time. For the fourth reason, OKX wants to know the legal and combination review of the token issuer, especially at this time when authorities such as the United States Securities and Exchange Commission (SEC) are very scrupulous about crypto exchanges listing unregistered securities. Finally, Hao notes that OKX does not support any shooting style. Instead, he clearly emphasizes that the exchange selects altcoins based on market research.
Meanwhile, cryptokoin.comAs you can see from , a new craze has started around meme-coins lately. The suggestion to Hao to list more BRC-20 tokens also came amidst this. To showcase this trend, Phantom, a self-custody crypto wallet originally based in Solana, listed some BRC-20 tokens along with Bitcoin and Ordinals a few days ago. Additionally, some altcoins such as BONK, WIF experienced a boom due to exchange listings.
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