OceanEx is a centralized cryptocurrency exchange that was formed in November 2018. The company is headquartered in the Cayman Islands. In some sources, Luxembourg is mentioned as its location as well. In September 2020, the platform also launched its DeFi Zone for some trading pairs including LINK/USDT, LINK/VET, ZRX/USDT, and ZRX/VET.
The platform is known for the high level of security based on AI technologies. The company behind the exchange is BitOcean Global, which is a producer of ATM selling cryptocurrencies in China and Japan since 2013.
Since 2019, the platform conducts OceanLab Research Awards Program, which is a kind of incubator for high-quality blockchain products. Professor Fei Wang's Research Lab at Cornell University was selected among numerous candidates and became the first research partner of this program.
AI-powered cryptocurrency trading platform employs VeChain Thor Ecosystem that offers professional services to traders, investors, and liquidity providers. Numerous projects currently listed on OceanEx belong to VeChain. These are VET, VTHO, SHA, DBET, PLA, JUR, and other cryptocurrencies. The platform also offers many other cryptocurrencies that don’t enter the VeChain ecosystem.
The team of the company has developed a lot of products working jointly on the development of the ecosystem such as OceanBrain which uses different resources to improve its efficiency. Historical data coupled with human-generated information creates the hybrid model working for the benefit of the platform.
OceanQuant is a cryptocurrency platform for API trading. It enables access to market statistics, analyses data from the historical point of view, monitors changes, and places automatic orders. Users can take advantage of highly effective trading bot containers when using API that is perfect for downloading the historical data and employment of algorithms using this information.
CryptoFarm is a low-risk plan delivering stable asset growth solutions for the members of the community. OceanEx GO! was developed to filter the worthy projects and get access to them at once.
OceanMarket is a type of social trading platform where members of the ecosystem can share their strategies, follow some users, and invest in a trader who seems highly efficient. The platform also conducts online events such s trading battles and social media challenges. For instance, the platform supports the community by recruiting OceanEx Pilot Whales, which are selected from telegram community members. Only those who are passionate about blockchain can become the ones. These members get nice perks for their contribution to the growth and development of the platform, which are granted to them as long as they invest in the platform.
The native token of OceanEX is OCE. This is a utility token that can be used for payments, transactions, and withdrawal fees. It’s possible to get trading discounts up to 90% with its help. Once you decide to get discounted service, you enter the OCE club program. The holders of OCE can participate in the referral program providing up to 50% trading fees from the invitees. They can also get a tailored subscription amount when using OceanEx Go!
With OCE, the members of the community can participate in different events and meetups. Additionally, it is possible to be admitted to the market research center in OceanLab. Also, the token provides governance rights as it can be used for voting when a decision about a new listing is taken.
The OCE tokens received from Trading Fee Discount program had been burnt quarterly starting from the third quarter of 2019 until their total amount was reduced to 7 billion.
The fee for makers and takers is the same and equals 0.1%. Also, there can be temporary trading fee discounts for some pairs. The platform doesn’t charge for depositing while withdrawal fees depend upon the type of cryptocurrency.
In September 2020, the platform launched a new payment system OceanEx Pay accepting cryptocurrencies and enabling merchants to use the platform as a custodian service. Merchants can use this payment system via API. Also, this product offers a crowdsourcing-based API service verifying the safety of cryptocurrency addresses and warning businesses of potential hack and scam activities of addresses. More than 50 tokens are available as a payment option for members of the ecosystem. Merchants can use it to their advantage and exchange assets immediately to the preferred currency type.
The company cooperates with different regulators to provide fiat gateway and fiat to crypto exchange for the most popular fiat currencies. At the time of writing, the solution hasn’t been found yet though the platform speculates much on the subject.
Security is one of the priority questions for OceanEx, therefore a lot of resources are spent on it. The AI system of OceanEx is called OceanBrain and deals with all security issues on the platform. OceanBrain monitors mass behavior to reveal malicious transactions for the security of customers’ assets. The algorithms check the work of the whole system to make sure everything functions properly. It is also responsible for the right distribution of trading orders.
The platform complies with global AML policy. It employs superior technology as far as security is concerned. It provides bank-level SSL security, and sophisticated machine learning algorithms for attack detections and safeguarding your assets and transactions.
The platform has always employed hot, cold, and frozen wallets for protection from hacking attacks. The analysis of the trading data is performed daily. Hot wallets contain small amounts that are sufficient for day traders to avoid theft during the intrusion.
OceanEx team and partners
The company can boast of a strong core team, highly experienced in different aspects of finance and blockchain technology. The team includes former employees of Samsung Research, CISCO, Baidu, Morgan Stanely, and some other famous companies.
As it has already been mentioned above, VeChain is one of the strategic partners from the cryptocurrency industry. Also, OceanEx has concluded a partnership with Koi Compliance that specializes in delivering all kinds of compliance solutions.
CertiK is another famous partner of the company. It helps OceanEx to create a fair, transparent, and secure ecosystem. This company provides a second layer of security checking the programming code and suggesting additional security improvements. OceanEx also signed a memorandum of understanding with Safe Haven that enables integration of the Safe Haven inheritance platform to OceanEx.