OKEX Announces the Conversion of Micro Balances into Its Native Tokens

On Monday OKEX Digital Assets Exchange announced the launch of its new product. According to OKEX, the product should provide users with a more “integrated” service of digital assets.

According to the announcement of April 7, OKEX offers users the opportunity to convert all crypto assets with balances which are less than 0.001 BTC (~ $ 7.30) into its native token OKB. This feature works similar to the “dust” Binance system, which converts small balances of assets into Binance Coin (BNB).

In order to convert, it is necessary to have a total balance less than 0.01 BTC, with no limits on converting times. Suspended transactions and assets excluded from the list are not subject to conversion. Given the effect of price fluctuations on the BTC price, the exchange price proposed by the system is estimated. The final OKB amount is exchanged based on the market price at the moment you click the Confirm button. Conversion is available only when the price fluctuates within 5%.

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