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Web3

OKX Wallet is the First Multi-chain Wallet to Support a Decentralized P2P Market with Zero Slippage

Published on Sep 14, 2023

Updated on Apr 25, 2024

OKX Wallet is the First Multi-chain Wallet to Support a Decentralized P2P Market with Zero Slippage

- OKX's P2P Crypto Market allows users to trade any cryptocurrency across six chains with very limited risk of transaction slippage

Singapore, September 14, 2023 -- OKX, a leading Web3 technology company, today announced the launch of its P2P Crypto Market on the OKX Wallet, enabling users to trade crypto in a decentralized market via a peer to peer structure. This solution greatly reduces the risk of transaction slippage that can be seen on other DEXes that operate via an Automated Market Marker.

With OKX's P2P Crypto Market users can trade any cryptocurrency with a reduced risk of slippage across six chains (ETH, BSC, OKTC, Polygon, Arbitrum and Optimism). The market also allows customers to post ads to buy and sell tokens, while also supporting block trades for larger orders. OKX Wallet is the first multi-chain wallet to support a decentralized peer-to-peer market via over-the-counter (OTC) orders.

OKX Chief Innovation Officer Jason Lau said: "The P2P Crypto Market on the OKX Wallet offers users an entirely new way to swap tokens peer to peer onchain. This first of its kind trading market empowers users to trade cryptocurrencies directly with one another across multiple chains with clear pricing and greatly reduced slippage. We hope that this new alternative to existing onchain trading options will deliver a more seamless and familiar trading experience, especially to users that have used P2P marketplaces before."

OKX Wallet currently supports account abstraction technology on seven blockchains: Ethereum, Polygon, Arbitrum, Optimism, BNB Chain, Avalanche and OKT Chain. It is also the first Web3 wallet to utilize multi-party computation (MPC) technology across 37 blockchains, eliminating the need for traditional written down keys and seed phrases by splitting a user's private key into three parts, greatly improving security and eliminating a single point of failure.

Disclaimer

This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.

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