OKEx, a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the listing today of BZZ, the utility token of Swarm. Deposits opened at 2:00 pm UTC on June 21 and withdrawals at 10:00 am UTC on June 22, spot trading for BZZ/USDT to follow.
With a goal to provide a decentralized storage and communication system, Swarm aims to provide targeted services to a sovereign digital society with a system of peer-to-peer networked nodes. Swarm’s business model was programmed to be economically self-sustainable with an incentive system implanted to carry out smart contracts on the Ethereum blockchain. With the impending significance of a decentralized finance ecosystem, it is essential to note that Swarm aims to strengthen the blockchain with peer-to-peer storage so that the world computer can operate as a secure platform for DeFi applications.
OKEx CEO Jay Hao commented on the new listing:
“Swarm has brought a whole new perspective to the mining ecosystem. Its self-sustainability stance for real decentralization and positive feedback from various communities have proven Swarm to be very popular among crypto enthusiasts. We have observed an increased number of active nodes from Swarm — and with more of its utility token, BZZ, being circulated among different communities, there is more potential for the project to grow. We are pleased to be working hand-in-hand with Swarm toward an increasingly decentralized future.”