OKEx Integrates Dapp Features But Native Tokens May Have Problems

OKEx adds a dapp search feature to improve the discoverability of decentralized applications. But will it weather the impending regulatory challenges?

While exchanges try to survive the wrath of crypto winter, OKX adds a new feature to enhance the discoverability of decentralized applications (Dapps). But potential challenges could come from regulators.

OKEx adds dapp discovery feature

Crypto exchange OKX collaborates with App Store for Decentralized Applications – DappRadar, Web3 to increase discovery and engagement. OKX will use the DappRadar API to provide better Dapps discovery capabilities for its users.

DappRadar, in turn, will have the OKX wallet as a default connection option, allowing users to “simply log in to DappRadar, access their portfolio, and discover dapps.”

Second proof of reservation

OKX releases its second Proof of Reserves (PoR) report with new Properties To allow users to view the reserve ratio for new and historical data. As per the press release, the company is committed to publish monthly PoR on 22nd of every month.

okex reserve
source: Twitter

But, keeping in view the current scenarios, the community believes that publishing proof of reservation only is not enough To protect investors.

While proof of reserve audits are a great way to build trust, they are not without limitations. Ultimately the downfall of FTX was due to its liabilities. An obligation is an obligation, especially a debt, that a company must owe to another party (eg, a creditor). so forward community the demands Also proof of liabilities.

Potential regulatory problems for OKB

OKB is the native token of OKX. This week, the Securities and Exchange Commission (SEC) addressed the FTX Token (FTT) as a security. Community believes that That declaring FTT a security sets a dangerous precedent for all exchange tokens.

Will OKB be labeled as a security?

Have something to say about OKEx Exchange, OKB, or something else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter,

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BeInCrypto has reached out to the company or the person involved in the story for an official statement regarding the recent development, but has yet to hear back.

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