On June 9, 2023, OKX, a renowned cryptocurrency exchange, made significant announcements. OKX announced deposits for the native token for the Suiswap decentralized exchange (DEX) and token exchange, Suiswap (SSWP) starting June 12. Users of OKX’s spot market will soon be able to trade Suiswap against USDT thanks to the advent of the SSWP/USDT spot pair. This change is anticipated to improve Suiswap’s liquidity and encourage the growth of the platform’s trading ecosystem.
Understanding Suiswap
In addition to being a token exchange based on the Sui blockchain, Suiswap is a decentralized exchange in its own right. In particular, OKX Wallet has just announced its connection with the Sui blockchain, making it possible for Sui tokens to be traded and swapped between users on both the web and mobile devices. OKX Wallet uses cross-chain and multi-chain techniques to make sending and receiving funds from users on other blockchains easy, thereby extending the scope of decentralized financial transactions (DeFi).
The Sui blockchain stands out because it is a Layer-1 protocol that uses a permissionless paradigm and is built with the needs of developers and artists in mind. Its major goal is to pave the way for creating Web3-era experiences with the user at their center. The Sui blockchain aims to provide artists and developers with the tools they need to create decentralized apps (dApps) and services that will appeal to the next billion consumers in the ever-evolving digital ecosystem by providing a solid foundation and encouraging creativity.
OKX has been making significant headlines in the recent few days with the exchange recently acquiring a license to operate in France in the wake of exchanges seeking new offshore markets ahead of the regulatory heat currently being seen in the US crypto space.
