OKEx, a leading global cryptocurrency exchange, announced that on 4 June 2019 that Lambda, a decentralized storage project would officially become the third project that, they will be listing for the year 2019.
Lambda is focused on decentralized storage with the objective of creating secure, reliable, as well as unlimited storage network for Value Internet. The Lambda project has retained its leading position under similar technology and innovation projects. In an effort to fund the Lambda project, investors from top institutions have come together.
The project has collectively received tens of millions of major investment players including DATA Foundation, Bitmain, Viking Capital, FBG Capital,Zhen Fund, Bluehills, Ceyuan Digital Fund, INBLOCKChain, as well as Bitcoin World among others.
Looking at the listing strategy for OKEx, it is not an easy process to qualify to list a token on the OKEx platform. This goes a long way into defining Lambda’s (LAMB) strengths in the market. While many consider OKEx’s listing strategy to be difficult, they are tightening still tightening the assessment strategies.
Due to the stricter audit rules placed by OKEx, the speed of listing on their platform has dropped significantly. During the first half of 2019, the overall market had shown growth with more listings on other exchange platforms but this is not the case with OKEx. For OKEx, only two phenomenal tokens, BTT and COSMOS, have been listed in addition to two IOE projects namely BOLC and ALLIVE.
How Lambda opens the doors to OKEx
Lambda listed on Huobi Global at the end of the year 2018, which marks great progress. Later on, it also listed on an exchange called CoinAll on 26 March 2019. For many crypto traders, the initial two listings may not be a familiar terrain. However, both played an important role towards listing of the token on OKEx.
Trading on OKEx currently lays at the top 15 as compared to other well-known exchanges as highlighted by CoinMarketCap data. CoinAll on the other hand shows that it is different from other competing exchanges in its project selection. More importantly, it focuses on the development potential of the project as well as on its growth space. For this reasons, CoinAll has listed projects they have been working with since their early stages.
Due to the historical relation between CoinAll and Lambda, it is evident that the token was due for listing on OKEx. After listing on CoinAll, Lambda in just a period of one month showed a significant increase, almost 10x its value.
More on the CoinAll and OKEx relation, both parties have shared technology, security performance, and customer service. Also, CoinAll has been noted to make appearances and presentation at OKEx’s large-scale off-line events.
CoinAll plays a major role in selecting high quality projects and recommend them to only the world-renowned exchanges. The close relation does not just start with the listing on OKEx platform. This historical relation led to the Lambda listing on OKEx, despite its reputation of having a very low frequency and extremely high difficulty of listing projects.