OKEx is a leading cryptocurrency exchange founded in 2014 by Star Xu. It is operated by OKCoin, a company based in Hong Kong. OKEx offers a wide range of services for trading and investing in cryptocurrencies, including spot trading, futures trading, and options trading. The name "OKEx" is derived from "OKCoin Exchange". It has become one of the largest and most reputable exchanges in the industry, offering a secure platform for users to trade various digital assets.
OKEx is a well-established cryptocurrency exchange that offers several benefits compared to its direct competitors. One of the key advantages of using OKEx is its wide range of supported cryptocurrencies. Users can access a diverse selection of digital assets, including major cryptocurrencies like Bitcoin, Ethereum, and Ripple, as well as a variety of altcoins.
Another benefit of OKEx is its robust trading platform. The platform provides advanced trading features, including spot trading, futures trading, and options trading. Users can also take advantage of margin trading and lending services, allowing them to maximize their trading potential.
OKEx also stands out for its strong liquidity. The exchange has a large user base and high trading volume, ensuring that users can execute trades quickly and at competitive prices. The platform also offers deep order books, providing ample liquidity for traders.
In terms of security, OKEx has implemented rigorous security measures to protect user funds. The exchange utilizes cold storage for the majority of its funds, keeping them offline and out of reach from potential hackers. Additionally, OKEx employs advanced encryption and two-factor authentication to safeguard user accounts.
Compared to its direct competitors, OKEx has established a strong reputation in the industry. The exchange has been operating for several years and has proven to be reliable and trustworthy. Its user-friendly interface, extensive range of supported cryptocurrencies, advanced trading features, strong liquidity, and robust security measures make OKEx an appealing choice for cryptocurrency traders.
OKEx is a cryptocurrency exchange platform that operates on a centralized system. The technology it employs is built on a proprietary trading engine that enables users to trade an extensive range of cryptocurrencies. However, details about the underlying technology are not publicly available.
Regarding the blockchain used by OKEx, it is important to note that OKEx is not a blockchain network itself; it is a platform that facilitates trading of blockchain assets. It allows users to deposit, withdraw, and trade various cryptocurrencies that are built on different blockchain networks, including Bitcoin, Ethereum, and others.
The functioning of OKEx is straightforward. Users can create an account and deposit funds into their wallets on the platform. Once the funds are available, users can access the trading interface to buy or sell cryptocurrencies. OKEx provides various order types, including market orders, limit orders, stop orders, and others, to cater to different trading preferences.
Apart from spot trading, OKEx also offers futures, margin, and options trading, providing users with diverse trading opportunities. The exchange also supports features such as staking, lending, and borrowing, enabling users to earn passive income and utilize their assets more efficiently.
It's important to note that OKEx operates in compliance with regulatory requirements and implements security measures to protect user funds. Overall, OKEx aims to provide a user-friendly and secure platform for cryptocurrency trading, offering a wide range of trading options and investment opportunities.
DIA takes a comprehensive approach to fetching trade data from different types of exchanges, depending on whether they are DeFi or NFT exchanges.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA directly collects trades from exchange databases using Rest APIs or WebSocket APIs. This allows DIA to retrieve trading data as close to the data source as possible, ensuring high precision. The frequency of data collection varies from 1 to 7 seconds, depending on the exchange.
On the other hand, for decentralized exchanges, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, enhancing data accuracy. Examples of decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data with a retrieval period ranging from 20 seconds to 1 minute. This covers all NFT transactions happening in real-time on DIA's integrated marketplace's smart contracts. By doing so, DIA ensures data precision from the broader NFT market, as it doesn't rely on unreliable bids and offer data. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
Overall, DIA's process of fetching trade data involves direct collection from exchange databases, subscription to swap events in liquidity pools, and capturing live data from integrated NFT marketplaces. This comprehensive data management strategy enables DIA to provide highly accurate and customizable price feeds.
DIA has a systematic process for computing trade data from OKEx to build price feed oracles for different types of exchanges, such as DeFi or NFT.
For DeFi exchanges, DIA follows a two-step process. The first step involves data cleaning and outlier detection. This ensures that trades with prices significantly diverging from the market price are excluded. By applying an Interquartile Range (IR) filter, DIA removes data points and sets that fall outside an acceptable range relative to the interquartile range. This helps prevent irregularities caused by market manipulation, errors, or flash crashes.
In the second step, DIA applies price determination methodologies to calculate the final price from the remaining data points. One example is the Volume Weighted Average Price (VWAP), which considers the different volumes of trades. Trades are collected and weighted by volume, and the weighted average price is calculated.
On the other hand, building price oracles for NFT collections involves a slightly different process. Firstly, the on-chain trade data is cleansed to exclude market outliers and manipulation techniques. Secondly, a pricing methodology is applied to determine the floor price of the NFT collection.
The simplest methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain during a specific time window. However, this method is susceptible to manipulation. Hence, DIA offers advanced methodologies, such as the Moving Average of Floor Price, which returns the moving average of the collection's floor price. This methodology can be customized with parameters like the length of the average or the size of the floor window.
DIA also applies an interquartile range outlier detection filter and is open to discussing custom filters and methodologies for specific use cases.
Overall, DIA employs rigorous processes to ensure the accuracy and reliability of price oracles built from OKEx trade data for both DeFi and NFT exchanges. These processes involve data cleaning, outlier detection, and the application of specific pricing methodologies tailored to the characteristics of each type of exchange.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.