OKX announces teaming up with TON Foundation

OKX has announced teaming up with TON Foundation. The primary aspect entails adding support for USDt on TON Blockchain for deposit and withdrawal. The secondary aspect deals with hosting a Learn & Earn Campaign. This requires users to only learn about USDt on TON and take home a fair share of the prize pool, which is made up of 20,000 TON tokens. At the time of writing this article, the value of a single TON token stands at $6.21.

The USDt-TON Learn & Earn Campaign has four steps that make users eligible for the reward. The first step requires them to enroll in the campaign on the official website of OKX. Second, users must complete the quiz and share the activity with friends. Finally, OKX distributes rewards directly into its users’ OKX accounts.

The campaign is operational across the world for all users, new or existing. Rewards will be rolled out on an FCFS basis, that is, on a first-come, first-served basis. This development has made OKX the first crypto exchange platform to list TON and enable its paired deposit and withdrawal on the platform. Making it interesting is the fact that users can withdraw USDt-TON with zero fees; however, it is applicable only for a limited time.

Founded in 2017, OKX traces its headquarters to Victoria, Seychelles, with more than 300 crypto tokens listed on the platform. Also, OKX supports the trading of more than 500 trading pairs for its users. The account registration process at OKX is fairly simple, beginning with clicking the Sign Up option on the home page and filling in the mandatory fields. KYC is not mandatory, but withdrawals of more than 100 BTC may require users to verify the transaction via KYC submission.

Users can get started with trading only after depositing funds on the platform. The process has been detailed in the OKX review, which also sheds light on the unique features of the platform. OKX is ideally known for zero transaction fees, or a fee that is often the lowest in the market. The crypto exchange platform is backed by multiple payment methods, like bank transfers, along with an easy-to-understand user interface. The only set of negatives that it has are limitations on users residing in the US and on withdrawals all over the world.

This development comes days after TON announced a partnership with Tether to list USDt on its blockchain. The goal is to achieve a seamless cross-border transaction that is easy to execute. TON first announced the news at Token 2049 in Dubai. The basic aim is to transform how peer-to-peer transactions happen globally. Transactions can be easily executed with other Telegram users.

USDt has been chosen by TON because the stablecoin is pegged to the US Dollar in a 1:1 ratio. Thereby, lowering the volatility factor and making it more reliable for the community.

TON Foundation has announced  11 million Toncoin (TON) incentives to drive the adoption of its ecosystem, calling this a huge step and adding that incentives will soon be rolled out. Launching USDt on TON has been identified as a big step in enabling more than 900 million users to access financial services seamlessly within the ecosystem of TON.

Moving forward, it remains to be seen how OKX and TON Foundation fetch fruitful results for the community all over the world. The announcement has done little for the native token of TON Foundation – TON – as it is down by 0.59% in the last 24 hours and 12.93% in the last 7 days.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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