Ten sets of data review OKX 2023

On a macro level, with the Federal Reserve pausing interest rate hikes and a series of positive news regarding the potential approval of Bitcoin ETFs by the SEC, the global cryptocurrency market is accelerating its recovery; on the industry development level, the growth wheel centered around the prosperity of the Bitcoin ecosystem is driving the global market into a growth trend. As a leading Web3 technology company, OKX's corporate philosophy of dual-driven technological innovation and compliance has achieved fruitful results in such a market environment, especially in Web3 ecosystem construction, which is widely recognized. This article will review OKX's 2023 through ten sets of data.

Exchange: Prioritizing User Interests, Continuously Ensuring User Asset Security and Transparency

1. Released 14 consecutive PoR reserve proofs, with a funding guarantee rate exceeding 100%

The Proof of Reserves (PoR) aims to verify whether user assets are held in a 1:1 reserve at the cryptocurrency exchange, demonstrating its solvency and sufficient liquidity to users.

OKX is currently the only exchange in the industry that has achieved open-source verification of Merkle trees, wallet address ownership, and on-chain assets simultaneously. While protecting privacy, OKX allows users to independently verify their solvency at any time. As of December 13, 2023, OKX has released 14 consecutive PoR reserve proofs, with user visits exceeding one million, covering 22 cryptocurrencies, and each period's funding guarantee rate exceeding 100%.

2. Helped 5,342 users intercept 5,734 phishing withdrawals, recovering assets worth $1.9652 million

The OKX risk control team assisted 5,342 users with anti-phishing risk control throughout the year, intercepting 5,734 withdrawals and recovering assets worth $1.9652 million; during this period, a contract cooling-off period was initiated for 167,654 users, helping them avoid internal and external risks to the greatest extent.

3. Launched over 10 new products, serving over 1 million users

The exchange adheres to a user demand-oriented approach, launching over 10 new products such as Shark Fin, Snowball, Seagull, Yield Hunter, Strategy Copy Trading, Spot Copy Trading, and Reverse Positioning, covering structured finance and strategy trading business lines, creating a diverse product matrix. While catering to different user groups, the R&D team continues to iterate on existing products, striving to enhance user experience. By December, the number of users for strategy products exceeded 600,000, and over 500,000 global users participated in financial products like Simple Coin Earning.

4. Resolved nearly 600,000 user issues, recovering 268,000 erroneous deposits

As a long-established exchange that prioritizes users, OKX resolved a total of 595,506 user issues throughout 2023, covering 13 languages; manually assisted users in recovering over 6,100 erroneous deposits, and automatically recovered 262,410 erroneous deposits, with the largest recovery amounting to 1.2 million USDT; throughout the year, the online consultation pick-up rate was ≥90% within 20 seconds, with an average pick-up time of 16 seconds, and a reply rate of ≥90% for email/ticket inquiries within 1 hour, with an average reply time of 25 minutes. The annual complaint rate was <0.7%.

5. Continuously empowered OKB, which rose 108% throughout the year, with over 27 million tokens burned

Since 2023, OKB has achieved an increase of over 108% in price due to product innovation and brand reputation, reaching a peak price of $64.89. Additionally, OKB underwent four rounds of token burns throughout the year, totaling 27,349,474.41 tokens, valued at over $1.5 billion based on the closing price of $55.06 on December 31.
In the future, OKB will also be used as gas in X1, which is jointly launched by OKX and Polygon Labs, based on the Polygon multi-chain development toolkit CDK and built on the Ethereum Layer 2 network using ZK zero-knowledge proof technology.

Web3 Ecosystem: Innovation-Driven, Continuously Building Industry Infrastructure

6. OKX Wallet supports over 80 public chains, with user growth of 98%, and plugin downloads surpassing 400,000

As of December 31, the number of public chains integrated into the Wallet has increased from over 40 at the beginning of the year to over 80, covering 120,000 digital assets and the most comprehensive popular ecosystems. The number of plugin wallet downloads has surpassed 400,000, with total users increasing by 98% compared to the previous year; the number of recorded NFT collectibles has reached 1.2 billion, with total NFT trading volume exceeding $2 billion throughout the year; users' on-chain financial assets exceeded $2.8 billion. The MPC wallet and AA wallet were also launched, continuously improving industry infrastructure around the Bitcoin ecosystem.

7. Ordinals market total trading volume exceeds $1 billion, leading the industry

According to Dune data, as of the end of December 2023, the total trading volume of OKX Web3 Wallet's Ordinals market exceeded $1 billion, with 120,332 unique addresses and a total of 552,818 transactions, achieving a daily trading volume market share of up to 92%, placing it in a leading position in the industry.

Currently, the OKX Web3 Wallet Ordinals market is the largest BRC-20 inscription and BTC NFT trading market, with 16,000 types of BRC-20 tokens available for trading. The OKX Ordinals market is fully decentralized, with no platform service fees for interactions, and supports batch transfers, trading, and inscribing BRC-20 and BTC NFTs, among other features.

8. OKX DEX annual trading volume reaches $1.7 billion, a 200% increase compared to the first half of the year

Currently, OKX DEX has integrated over 400 DEXs and 20 cross-chain bridges, with an annual trading volume of $1.7 billion. In the first week of December alone, the trading volume reached $92.3 million, on par with Metamask and Kyberswap. This represents a 200% increase compared to the first half of the year, establishing a complete automated detection capability for risk token detection and push notifications, including contract access, abnormal trading, and quotation results.

9. NFT market annual transaction volume approximately 20 million transactions, total trading volume reaches $2.366 billion

As of the end of December, the OKX NFT market recorded approximately 20 million transactions for the year, with a daily trading volume of about $6.5 million, totaling $2.366 billion. Driven by the inscription craze, the OKX NFT market surged to become the second-largest NFT market by trading volume in just the two months of November and December, capturing 32% of the market share.

10. Recorded over 880,000 high-risk tokens, over 17 million black addresses, and 710,000 risk domain alerts

Throughout the year, a total of over 880,000 high-risk tokens were recorded, including over 620,000 PiXiu tokens and over 160,000 junk airdrop tokens; over 17 million black addresses were recorded, including over 90,000 phishing addresses; over 130,000 risk domains were recorded, with a total of 710,000 risk domain alerts.

Additionally, the Web3 team has introduced a transaction history screening feature for risky transactions to address airdrop token and NFT poisoning issues, as well as a Flashbot to prevent MEV attacks, and integrated the Certik security rating system to comprehensively display project security ratings, helping users effectively understand on-chain project risks.

Conclusion

As 2023 has passed, the above ten sets of data not only represent achievements but also reflect the responsibilities of a global platform. Moving forward, OKX will continue to practice long-termism in 2024, adhering to technological innovation as the driving force for building the Web3 industry, continuously investing energy in the OKX Web3 ecosystem, while steadfastly prioritizing user interests and ensuring transparency and security of user assets.