OKEx is finally getting its broom service after launching a product to help users convert their small balances, commonly referred to as ‘dust’, into its native exchange coin, OKB.
OKEx launches its own “broom” service
The announcement on Apr. 7 confirmed the exchange launched its “small balances conversion product” that will enable users on the platform to convert “dust” to the OKB token. Users will be able to access the service through their funding account from the “My Account” settings menu and selecting the “Convert Small Balances to OKB” button.
This is a similar platform to Binance’s conversion of small balances to BNB, its native exchange token, which CZ, Binance CEO referred to as a “broom”.
Dust refers to balances below 0.001 BTC (~7.20 USD, as of press time) across all currencies and no limit to the number of conversions to OKB. Given the volatile nature of BTC and crypto, the conversions will only take place when the price ranges below 5%.
NOTE: Suspended transactions and delisted digital assets cannot exchange.
OKEx recent developments in the industry
This is the latest of developments the exchange is celebrating over the first quarter of the year. The exchange grew to become the largest Bitcoin Futures exchange in trade volume, introduced a new C2C loan feature on their platform, and also launched its own decentralized exchange.