On October 22nd, Ethereum World News notified its readers that the OceanEX Crypto Exchange, was now accepting new registrations by users wishing to explore the platform built specifically for the VeChainThor (VET) ecosystem. Sign ups are still open. Once users register on the platform, they have to follow the usual KYC (Know Your Customer) procedures that involve uploading a government issued ID and a document showing proof of residence.

Up until now, there was no clear date as to when the exchange would go live. Many VET community members had speculated that the exchange would be launched in late October or early November.

Testing of the Exchange and A Full Launch

Their estimates of when the exchange would go live were right on the money for the team at OceanEx have issued an announcement stating that the development phase was now complete. What the team is currently working on, is the internal testing and external security audit. The steps are in preparation of testing the trading functions on the exchange this November. The exchange will be fully launched in the first quarter of 2019.

The team provided the following roadmap outlining the activities before the full launch of the platform.

OceanEx CryptoCup [Alpha Test] goes live (1st week of November)

OceanEx 1.0 (Beta) goes live and covers full trading function (November)

OceanEx 2.0 goes live (Q1 2019)

Features on the first Version of OceanEx

The team also gave the following information about OceanEx 1.0:

Exclusive VeChain Ecosystem Trading pairs as follows: BTC/USDT, ETH/USDT, ETH/BTC, VET/USDT, VET/BTC, VET/ETH, VTHO/VET. OCE and other VeChain ecosystem tokens to be listed in sequence

pairs as follows: BTC/USDT, ETH/USDT, ETH/BTC, VET/USDT, VET/BTC, VET/ETH, VTHO/VET. OCE and other VeChain ecosystem tokens to be listed in sequence Competitive Fee Policy : OceanEx 1.0 will support the community by charging the lowest transaction fee in the market for VET trading pairs. OceanEx’s WhaleClub members will even enjoy a 0% transaction fee in trading VET

: OceanEx 1.0 will support the community by charging the lowest transaction fee in the market for VET trading pairs. OceanEx’s WhaleClub members will even enjoy a 0% transaction fee in trading VET Professional Trading Experience : customized trading algorithms will be able to access OceanEx through APIs provided in the Beta version

: customized trading algorithms will be able to access OceanEx through APIs provided in the Beta version Superior Account Security

In conclusion, by the end of November, we will see the launch of the Alpha and Beta versions of the OceanEx exchange. The complete version of the exchange will be launched in the first quarter of 2019. VET owners will enjoy several benefits on the exchange including lower trading fees.

What are your thoughts on the OceanEX exchange? Please let us know in the comment section below.

Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.