Ten sets of data review OKX 2023

2024-01-03 16:49

Read this article in 12 Minutes

AI summary

View the summary

Source: OKX

At the macro level, the global cryptocurrency market has accelerated its recovery under the stimulus of the US Federal Reserve's pause in interest rate hikes and a series of positive news such as the possible approval of Bitcoin ETFs by the SEC. At the industry development level, the growth wheel centered on the prosperity of the Bitcoin ecosystem is driving the global market into a growth trend. As a global leading Web3 technology company, OKX's corporate philosophy of technological innovation and compliance has achieved fruitful results in such a market environment, especially in the construction of the Web3 ecosystem, which is highly acclaimed. This article will review OKX's 2023 with ten sets of data.

Trading Platform: Prioritizing User Interests, Ensuring Continuous Asset Security and Transparency

1. Continuous release of 14 PoR reserve proof, with a fund guarantee rate exceeding 100%

Reserve Proof of Reserves (PoR) is designed to verify whether a user's assets are backed 1:1 on a cryptocurrency exchange, demonstrating their solvency and adequate liquidity to the user.

OKX is currently the only trading platform in the industry that simultaneously implements open-source verification of Merkle trees, open-source verification of wallet address ownership, and open-source verification of on-chain assets. While protecting privacy, OKX allows users to independently verify their solvency at any time. As of December 13, 2023, OKX's PoR reserve proof has been continuously released for 14 periods, with user visits exceeding one million and covering a total of 22 currencies. The capital guarantee rate for each period exceeds 100%.

二、帮助 5342 名用户拦截钓鱼提币 5734 笔，挽回资产 196.52 万美元

Translation:

2. Helped 5342 users intercept 5734 phishing withdrawals and recovered assets worth 1.9652 million US dollars

The OKX risk control team helped 5342 users with anti-phishing risk control throughout the year, intercepting 5734 withdrawals and recovering assets worth 1.9652 million US dollars. During this period, the team also enabled a cooling-off period for 167654 users in contract trading, helping them avoid internal and external risks to the greatest extent possible.

Three, cumulative launch of 10+ new products, serving over 1 million users

The trading platform adheres to user needs and, combined with market development, has launched more than 10 new products such as Shark Fin, Snowball, Seagull, Yield Hunter, Strategy Copying, Spot Copying, and Reverse Opening, covering structured finance, strategy trading and other business lines, creating a matrix of different types of products. While covering different user groups with different needs, the R&D team still insists on iterating existing products and sparing no effort to improve user experience. As of December, the number of users using strategy products exceeded 600,000, and the number of global users participating in financial products such as Simple Coin exceeded 500,000.

Four, cumulative resolution of nearly 600,000 user issues, recovering 268,000 incorrect asset transactions

As a veteran trading platform that adheres to the principle of putting users first, OKX resolved a total of 595,506 user issues throughout 2023, covering 13 languages. The platform manually helped users recover over 6,100 cases of wrongly deposited assets and automatically recovered over 262,410 cases, with the largest amount recovered being 1.2 million USDT. The platform achieved a 90% or higher rate of answering online inquiries within 20 seconds, with an average response time of 16 seconds. For email and ticket inquiries, the platform maintained a 90% or higher response rate within 1 hour, with an average response time of 25 minutes. The platform's complaint rate was less than 0.7% for the entire year.

5. Continuous Empowerment of OKB with a 108% Increase in Annual Rise and Over 27 Million Tokens Destroyed Throughout the Year

Since 2023, OKB has achieved a growth rate of over 108% with the empowerment of product innovation and brand reputation, and the highest price has reached $64.89. In addition, OKB has conducted a total of four destructions throughout the year, totaling up to 27,349,474.41 coins. Based on the closing price of $55.06 on December 31st, the total value exceeds $1.5 billion.

In the future, OKB will also be used as gas in X1. X1 is jointly launched by OKX and Polygon Labs. It is an Ethereum Layer 2 network based on ZK zero-knowledge proof technology, built on Polygon's multi-chain development toolkit CDK.

Web3 Ecosystem: Innovation Driven, Continuously Building Industry Infrastructure

Six, OKX Wallet supports 80+ public chains, user growth reaches 98%, and plugin downloads exceed 400,000

As of December 31st, the number of public chains integrated into Wallet has increased from 40+ at the beginning of the year to 80+, covering 120,000 types of digital assets and the most comprehensive popular ecology. The download volume of plug-in wallets has exceeded 400,000, and the total number of users has increased by 98% compared to the previous year. The number of NFT collections included has reached 1.2 billion, and the total NFT transaction volume for the year exceeded $2 billion. Users' on-chain financial assets exceeded $2.8 billion for the year. At the same time, MPC Wallet and AA Wallet have been launched, and the industry's infrastructure construction around the Bitcoin ecology continues to be improved.

七、Ordinals Market total trading volume exceeds 1 billion US dollars, leading the industry

Dune data shows that as of the end of December 2023, the total trading volume of OKX Web3 wallet Ordinals in the market has exceeded 1 billion US dollars, with 120,332 independent addresses and a total of 552,818 transactions. The daily trading volume market share is as high as 92%, placing it in a leading position in the industry.

Currently, the OKX Web3 wallet Ordinals market is the largest BRC-20 token and BTC NFT trading market, with 16,000 types of BRC-20 tokens available for trading. The OKX Ordinals market is completely decentralized, with no platform service fees for transactions, and supports multiple functions such as batch transfer, trading, and engraving of BRC-20 and BTC NFT tokens.

Eight, OKX DEX's annual trading volume reached 1.7 billion US dollars, a 200% increase compared to the first half of the year.

Currently, OKX DEX has integrated over 400+ DEX and 20+ cross-chain bridges, with a total annual trading volume of 1.7 billion US dollars. In just the first week of December, the trading volume reached 92.3 million US dollars, on par with Metamask and Kyberswap. Compared to the first half of the year, there has been a 200% growth in risk token detection and push, establishing a complete automated detection capability including contract access, abnormal trading, and quotation results.

Nine, NFT market annual transaction volume is about 20 million transactions, with a total transaction amount of 2.366 billion US dollars

As of the end of December, the OKX NFT market had approximately 20 million annual transactions and a daily trading volume of approximately $6.5 million, with a total transaction volume of $2.366 billion. Influenced by the craze for inscriptions, the OKX NFT market jumped to become the second largest NFT market in terms of transaction volume in just two months from November to December, accounting for 32% of the market share.

Ten, 88w+ blacklisted addresses for risky tokens, 1700w+ in total. 71w+ reminders for risky domain names.

As of the end of the year, the total number of high-risk tokens recorded was 88w+, including 62w+ for Pixiu tokens and 16w+ for junk airdrop tokens. The number of blacklisted addresses recorded was 1700w+, including 9w+ phishing addresses. The number of risky domains recorded was 13w+, with a total of 71w+ risk domain alerts issued.

In addition, the Web3 team has added transaction history blocking to mitigate the risks of airdropped tokens and NFT poisoning, as well as Flashbot anti-MEV attack functionality. They have also integrated the Certik security rating system to provide a comprehensive display of project security ratings, helping users to effectively understand the risks of on-chain projects.

Conclusion

By 2023, the above ten sets of data are not only a harvest, but also the responsibility of a global platform. Next, OKX will continue to practice a long-term value system in 2024, adhere to technology innovation as the driving force to build the Web3 industry, continue to invest in the OKX Web3 ecosystem, and firmly prioritize user interests to ensure asset transparency and security.