OKEx Lists BZZ, Native Token of the Swarm Decentralized Storage and Communications Protocol

OKEx, the worldwide crypto derivatives and spot buying and selling change platform has introduced its newest inclusion to the listing of supported cryptocurrencies. The platform, on June 22 added BZZ – the native crypto asset of Swarm by enabling deposits. As soon as sufficient deposit quantities are reached, the asset can be accessible for spot buying and selling in opposition to USDT.

Swarm is created by the very minds that had been behind the Ethereum protocol. Developed by Vitalik Buterin, Gavin Wooden and Jeffrey Wilcke, Swarm offers decentralized storage and communications protocol for dApps on the Ethereum blockchain. It’s designed as a self-sustaining protocol with a built-in good contract-driven incentive system on ETH blockchain which is powered by the BZZ token.

Asserting the itemizing of BZZ, CEO of OKEx Jay Hao mentioned, “Swarm has introduced an entire new perspective to the mining ecosystem. Its self-sustainability stance for actual decentralization and optimistic suggestions from varied communities have confirmed Swarm to be highly regarded amongst crypto lovers. Now we have noticed an elevated variety of energetic nodes from Swarm — and with extra of its utility token, BZZ, being circulated amongst totally different communities, there’s extra potential for the undertaking to develop. We’re happy to be working hand-in-hand with Swarm towards an more and more decentralized future.”

With Swarm v1 due for launch quickly, the undertaking has gained lots of consideration. It has raised investments from among the main names within the business together with Alphemy Capital, Bitscale Capital, DFG, KR1, HashKey, NGC Ventures, The LAO, LD Capital, YBB Basis, Waterdrip Capital and extra. The undertaking has already raised over $6 million in non-public financing.

With a most provide of 62.5 million items, the BZZ token is used to pay the bandwidth and storage rewards. In the meantime, Swarm can be organizing an airdrop, providing 1,000,000 BZZ  distributed throughout all of the addresses which have participated on the check community.

Learn the official announcement right here – https://www.okex.com/assist/hc/en-us/articles/4403471300877-OKEx-will-list-Swarm-BZZ-for-spot-trading