OKExGlobal cryptocurrency exchange and spot trading platform has recently announced its inclusion in the list of supported cryptocurrencies. The platform, on June 22nd, added BZZ – Swarm’s original crypto asset by enabling deposits. Once sufficient deposit amounts are reached, the asset will be available for spot trading against USDT.
Swarm was created by the minds behind the Ethereum protocol. Developed by Vitalik Buterin, Gavin Wood and Jeffrey Wilcke, Swarm provides a decentralized storage and communication protocol for dApps on the Ethereum blockchain. It is designed as a self-sustaining protocol with a built-in incentive system based on smart contract on the ETH blockchain that is powered by BZZ token.
Announcing the inclusion of BZZ, CEO of OKEx Jay Howe He said, “Swarm brings a whole new perspective to the mining ecosystem. Its self-sustaining stance on true decentralization and positive feedback from various communities has proven that Swarm is very popular among crypto enthusiasts. We have noticed an increasing number of active nodes from Swarm – and with more private utility tokens in place. With it, BZZ, being popularized among different communities, there is greater potential for project growth. We are pleased to be working alongside Swarm towards an increasingly decentralized future.”
With Swarm v1 slated for release soon, the project has gained a lot of attention. It has raised investments from some of the leading names in the industry including Alphhemy Capital, Bitscale Capital, DFG, KR1, HashKey, NGC Ventures, The LAO, LD Capital, YBB Foundation, Waterdrip Capital and more. The project has already raised more than $6 million in private funding.
With a maximum of 62.5 million blocks, the BZZ token is used to pay for bandwidth and storage rewards. In the meantime, Swarm will organize an airdrop, delivering one million BZZs distributed to all addresses that participated in the test network.
Read the official announcement here – https://www.okex.com/support/hc/en-us/articles/4403471300877-OKEx-will-list-Swarm-BZZ-for-spot-trading