Chinese based exchange OKEx have finally lifted the veil and shared more details from their original cryptic tweet where they stated they were going to ‘lite up the darkness’. The company announced on twitter that with Litecoin’s second ever halving event approaching they had special plans in the run up:
We’ll be launching 7 campaigns including million-dollar giveaways to celebrate the occasion. Stay tuned for more info.
The first of these campaigns is now live and is active between June 5–11. Users, by depositing coins and trading on OKEx’s C2C Litecoin market now have a chance to obtain a part of €65,000 during this period. The move appears to be a strategy to attract new users from outside China and to increase trading volume in their order books which already trades a healthy $60m daily according to self published data.
During the promotion period users with >2LTC net deposit will receive ~EUR2.6 equivalent worth of tokens out of the EUR 26,000 worth bonus pool. Users who trade an accumulated amount of >0.5 LTC at C2C market can get a random amount of bonus, between 1–100 USDT equivolent worth of tokens. The more you trade the larger the bonus you get. The total bonus is Euro 39,000.
OKEx has been expanding rapidly in recent years and have extended their operations beyond mainland china into other regions and trading pairs. There are no further hints regarding the 6 other campaigns the company have planned, but it appears each will give an opportunity to obtain more of the $1m total they have pledged to give away for participating.
Previous tweets have suggested potential lightning network integrations on the platform, yet it remains to be seen if that is purely a marketing gimmick or serious intent.