OKEx CEO Jay Open Letter: The decision to launch Jumpstart is really tough

Yesterday, the dust settled.

The participation rules of our Utility Token sales platform OK Jumpstart were officially announced.

The market is forcing us to make decisions

In the past two months, many friends in the industry have been asking us about our attitude towards IEO. Through various channels, we have pushed all kinds of projects and urged us to act quickly. There are even some voices saying that OKEx has been OUT, and the speed of innovation has not kept up.

This scenario is very similar to the end of 2017.

At that time, OKEx also faced a choice, quickly on the currency, grab the market traffic, or slower, more cautious, put the threshold up, only a small number of boutique projects?

Everyone knows the story behind, the major trading platforms are vying for the currency, the project is in a hurry, and the investors are eager to invest money…

As a result, the market quickly became hot, and the blockchain industry entered an era of unprecedented speeding.

However, the "bull market" in everyone's mouth is coming fast, and the "bubble" has quickly broken.

I never criticize the bubble, history tells us time and again that great opportunities for change are always hidden in the frenzy of bubbles. But we need constant reflection. How can the market recover faster after the bubble is broken? Are we a little too anxious? Can we still do better?

I want everyone to earn longer money.

How can OKEx do better?

Our idea is actually very simple, not only to make more people earn money, but also to earn more money and more money.

"Money" is the smartest. It knows where to go. It won't stay in a place without future.

As the leader of this market, OKEx is also one of the vested interests of this industry. What we have to think about is not to make a wave of market hotspots to make some quick money, but how to make this industry have 10 years and 100 years. Development, so that everyone can always earn money!

Therefore, what we are facing now is not how to quickly grab traffic to make money, but what can we do to make this industry continue to develop? What can be done to establish new, healthier, sustainable industry standards and market order?

The core of an investment market that wants to achieve long-term growth is to get better quality assets. The core of an industry that wants to achieve long-term growth is to get better entrepreneurs to come in.

The key to all this is that the head office of the blockchain market needs to consciously improve the industry's entry barriers, zero tolerance for projects that only operate hypocritical concepts, and allow excellent projects to gain more development opportunities, so that good money can be driven out. currency!

Do the best

Our decision to launch Jumpstart is really tough, and we must be cautious and must find the entrepreneurs who represent the highest level in the industry. For this we spent a long time to screen out really valuable projects. And the building block cloud (BLOC) is such a project, we are full of confidence in it.

Either don't do it, do it best.

This market requires enthusiastic entrepreneurs and investors, but more needs a calm trading platform.

On the one hand, OKEx has established a strict project review system, and we will improve the Jumpstart with the highest standards and requirements. We are committed to tapping into the blockchain industry of "Amazon", "Google", "Ali" and "Tencent" and helping them continue to grow.

On the other hand, we firmly believe that if we want the blockchain industry to have a bigger future, we must not be confronted with compliance requirements, but we must actively promote regulatory innovation to support the development of the industry. In the past two months, OKEx's legal team has comprehensively studied the policy guidance documents of the United States, Switzerland, Singapore and other countries, and decided to choose the Utility Token Sale model that is closer to the financial compliance requirements, so that the national regulatory authorities can be more assured. It also gives users more peace of mind.

The blockchain industry is in the midst of a new round of development, and the exchange plays a very important role. OKEx will strive to be strict with itself, continuously improve its professional capabilities, provide users with assets with outstanding investment value, and promote the future of a blockchain that is more worthy of expectation.

Let us work together.

Jay Hao

April 3, 2019