KuCoin Cryptocurrency Trading Platform Listed 0x Protocol (ZRX) Token Today – Ethereum World News
This past Friday, an article was released (https://medium.com/republicprotocol/republic-protocol-partners-with-wyre-1ccdedaa296d) detailing some specifics around a soon-to-be-launched Dark Pool exchange called RenEx that will likely enable a healthy increase in BTC and ETH trading volume.
For anyone unfamiliar, RenEx is being built on top of the Republic Protocol, a decentralized protocol designed to power dark pool exchanges. REN is a utility token for the protocol that provides fuel and security to the engine.
But what’s more interesting is a recent collaboration between the RenEx exchange and a company called Wyre. Wyre’s decision to partner with the Republic Protocol / RenEx team is exciting for a few different reasons:
First, these guys have an OTC desk that is going to be on boarded onto the RenEx platform, providing (what I would assume to be) a pretty substantial amount of liquidity. Wyre formally announced their OTC desk back in May of this year, but has traded $3.5 billion in cryptocurrency assets in-house since 2013.
Perhaps even more interesting… Wyre is also going to provide Know-your-customer (KYC) and Anti-money laundering (AML) services to the RenEx exchange. At the end of the day, this will be one of the first Dark Pool Crypto exchanges offering users a level of compliance that’s consistent with big banks working in traditional financial markets, enabling large OTC desks to participate. A statement released by Wyre included the following, which, in my opinion, did a great job at capturing the potential impact that this could have on BTC and other Crypto markets:
“We can’t overstate how excited we are to be able to leverage our unique combination of payments infrastructure and legal compliance services to help bring Republic Protocol’s offering to life. As Republic Protocol CEO Taiyang Zhang noted, this represents the shared focus of the two teams ‘on facilitating the entry of traditional institutional investors and funds to provide the increased liquidity digital asset markets need to grow and flourish.’” (https://blog.sendwyre.com/republic-protocol-partners-with-wyre-to-provide-liquidity-for-decentralized-cryptocurrency-dark-4248e4912b77)
Further, since the underlying protocol is decentralized, anyone that wants to build their own dark pool on it is free to implement whatever rules they want. With RenEx – the dark pool is utilizing KYC as OTC players need this for compliance reasons to actually be able to trade.
Would be curious to hear others thoughts on this…
Nulltx posted an article today to clarify the FAKE VOLUME allegation upon OKEx, the world-leading digital asset exchange. According to nulltx, the main proof is that OKEx has a long-term program called Happy Friday, a bonus distribution campaign that to give away 50% of its trading fee to OKB (OKEx platform token) holders weekly.
For example, if OKEx has washed trade grossly from $10 billion to $20 billion, meantime the trading commission raised from $5 million to $10 million (assumptive), then it needs to pay the extra $7.5 million from their own pocket. Why would OKEx make fake volume of the $20 billion? Hope the rumors will stop when it comes to a wise person.
Frank from BullCryp here. We’re a small team in Vancouver, Canada building a trading dashboard that connects to multiple exchanges (Binance and Poloniex currently). We’re hoping to offer a unified trading experience as well as data-driven tools to analyze your portfolio.
We’ve had a lot of great feedback, but we’re always looking for more! If you have a bit of free time, we’d really appreciate it if you could [try us out](https://bullcryp.com/trader/oauth/login.php#_=_) and let us know what you think 🙂
PS. Your exchange keys never leave your local machine. We don’t store them on our server for security reasons.