• In late August of this year, Vechain made an announcement about the first token minted on the blockchain—OceanEX (OCE).
• OceanEx has issued another advisory stating the initial development phase has been completed.
• The exchange is expected to launch fully on the first quarter of 2019.

The last week of October saw OceanEx crypto exchange accepting registrations for users who want to explore the platform built especially for the VeChainThor (VET) ecosystem.

Just recently, the OceanEx team issued another announcement stating that the initial development phase is over and alpha testing will finally begin in November.

OceanEX Project and Crowdfunding

The introduction of OceanEX (OCE), the first token minted on the VET blockchain is a key part in their crowdfunding campaign.

Primarily, the crowdfunding for the project was directed towards the creation of an AI powered digital asset trading platform within the VeChainThor ecosystem.

In order to provide an ultra-liquid and actively protected cryptocurrency trading market, the platform has been designed to use AI technologies.

In addition, the project also intends to provide various investment strategies for investors and traders on the platform.

The crowdfunding was done in two stages. First was the whitelisting phase where participants are required to commit at least 50, 000 VET. The VeChain community round came soon after.

Exchange Testing and Full Launch

Since the development phase is said to have been completed, the team is currently focusing on the external security audit as well as internal testing.

Both processes are done in preparation for the testing of trading function on the exchange this month. The full launch is expected on the first quarter of 2019.

On their roadmap, the team outlined the following activities before the full launch will take place:

• OceanEx CryptoCup [Alpha Test] will go live (First week of November)
• OceanEx1.0 (Beta) will go live and cover full trading function (November)
• OceanEx 2.0 will go live (First quarter of 2019)

Features of OceanEx 1.0

Here’s what you can expect from the 1.0 release (in their own words):

• Unique VeChain Ecosystem – Trading pairs as follows: ETH/USDT, VET/BTC, BTC/USDT, ETH/BTC, VTHO/VET, VET/USDT, VET/BTC. OCE, alongside other VeChain ecosystem tokens will be listed in sequence.
• Competitive Fee Policy – OceanEx 1.0 will extend support to the community by charging the lowest transaction fee for VET trading pairs. Their WhaleClub members will also enjoy a zero transaction fee when trading VET.
• Professional Trading Experience – Bespoke trading algorithms will be able to access OceanEx through the APIs furnished in the Beta version.
• Superior Account Security