The VeChain Foundation reached a new milestone today with exciting news announcing the first token to be minted on the VeChainThor (VET) blockchain. In the twitter announcement, the VeChain Foundation would state the following:
We are excited to witness the first ecosystem token – OCE is now minted on the VeChainThor blockchain! The power of VeChainThor is only just starting to show.
OceanEx (OCE) would also tweet the following with regards to the news:
Another VeChainThor milestone has been reached!
$OCE became the first ecosystem token minted on the VeChainThor Blockchain! You also can now view your OCE balance in the VeChainThor Wallet. The OCE whitelisting process ends on 8/25/2018 at 13:00 UTC+8.
What exactly is OceanEx (OCE)?
OceanEx is an AI powered digital asset trading platform within the VeChainThor Ecosystem. The platform uses AI technologies to provide an actively protected and ultra-liquid cryptocurrency trading market, full-fledged quantitative trading capabilities, and a rich set investment tools and products to meet a wide spectrum of investment strategies from all types of investors.
As mentioned in the Tweet, the project is currently in the WhiteListing process for those who would like to participate in the VeChain Community Round. The minimum VET required to participate in the WhiteListing currently stands at 50,000 VET (Approximately $695 with VET valued at $0.013891).
The crowd funding will be on the VeChainThor blockchain as earlier mentioned but will exclude residents from the countries of China, Japan and the United States. The project will then continue to be fully built on the VeChainThor blockchain.
OCE Token Use
The OCE token will be used in the OceanEx’s ecosystem and future developments. The team has listed the following scenarios as possible uses of OCE:
- pay for fees of services such as: transaction fee, withdraw fee, listing fee, argo/fund deployment fee
- voting right in project listing pool
- invitation to OceanEx’s quality community events and meetups
- access to our market research center in OceanLab
- subscribe to and use our professional developed trading tools and investment products such as CryptoBento™
- more to come in the future
OceanEx will list other coins and tokens besides those created through the VeChainThor blockchain via ICOs. The team plans on doing their due diligence before listing a digital asset on the platform. There is also plans to provide Fiat to Crypto exchange services for many major fiat currencies.
More on the project can be found in the easy to use Q & A available online.