On November 27, OKX, one of the top cryptocurrency exchanges and on-chain technology companies, announced the launch of its AI-powered trading feature, Smart Picks. In its announcement, it claimed the tool will reduce the complexity of crypto trading.
While it called the feature “the first of its kind in the crypto market,” OKX says it will allow users to identify some of the top automated strategies available from its strategy categories. It also said traders can apply the strategies when trading BTC, ETH, and SOL.
The exchange revealed that the tool will be available on the exchange’s Smart Trading platform that launched in July this year. The trading tool is a suite of different strategies that traders can leverage through replication or automation.
Smart Trading combines three automated options: bot trading, signal trading, and copy trading. The exchange explained that the tool enables users to focus more on the mechanical precision of algorithms and bots instead of manually executing trading strategies.
OKX has been an active proponent of AI trading tools in centralized finance. The exchange has advertised different services, including brokerage options, for its users since 2017. It has also ventured into decentralized finance options for its millions of users, including launching a universal wallet to enable users to engage with decentralized applications.
OKX explains how Smart Picks works
In September, OKX explained the Smart Picks design as similar to an e-commerce marketplace for trading strategies. The crypto exchange further confirmed that all traders, including novice and pro traders, will be able to leverage the AI-powered tool. OKX also insisted that the tool could help new traders to engage in advanced trading strategies.
The exchange’s Global Chief Commercial Officer, Lennix Lai, stated that the Smart Picks tool will set new standards for accessibility in the crypto industry. The announcement highlighted the amount of work that goes into researching before trading. Smart Picks will reduce traders’ time to research for a favorable trading strategy.
As the first crypto exchange to offer this innovative capability, we’re setting new standards for accessibility in the industry, making expert-level crypto trading accessible to everyone.”
Lennix Lai, the OKX Global Chief Commercial Officer
During the September announcement, the exchange revealed the categories it ranks trading strategies into, including the Swing Grid bots, Grid Sniper bots, and HODL Grid bots. The categories and every strategy outline information, including historical data, different risk levels, and assets under management.
One example the exchange offered to help users understand was a Swing GRID Bot strategy on BTC/USDT with an APY of +85%, an AUM of 10 million USDT, and 20,000 active bot traders. The information provided on each strategy enables users to experiment with different options before settling on what suits them best.
Tripartite agreement with Forteus and Komainu
We're pleased to announce a tripartite agreement between @OKX, @KomainuHQ and @numeusxyz for institutional trading:
1️⃣ 24/7 trading access on OKX
2️⃣ Regulated custody with Komainu
3️⃣ Off-exchange settlement
4️⃣ Real-time balance mirroring
Full details:… pic.twitter.com/LAqqOpWPfS— OKX Institutional (@OKXInsto) November 27, 2024
OKX announced today that it had entered a tripartite agreement with Forteus, a diversified digital asset management company, and Komainu, a digital asset custody service provider. The partnership will allow Forteus to leverage OKX for full-time trading, and Komainu will allow Forteus to store its assets in segregated custody.
The three companies assured users of secure, independent, and regulated custody through Komainu. Additionally, Forteus is expected to handle the high traffic demanded by its institutional clients around the clock.
OKX noted that the off-exchange settlement will make trading easier for investors without requiring constant asset exchange between the custodian and the exchange. The agreement will also provide investors with a legal framework for conflict resolution, their rights, and their obligations while interacting with the platforms. The partnership will also improve the liquidity traders’ access and boost the trading efficiency for users.
Lennix Lai commented on the partnership, saying that the tripartite agreement indicates OKX’s dedication to solving the issues experienced by institutional clients. The crypto brokerage firm’s Global Chief Commercial Officer also mentioned that its partnership with Komainu ensures it can offer secure services without “compromising returns.”
“This partnership ensures that institutions can engage confidently and efficiently in the crypto markets, knowing their assets are safe with a leading custodian.”
Lennix Lai, the OKX Global Chief Commercial Officer
On the other hand, Forteus’s President Nicolas Vanhoutteghem supported Lai’s statement, agreeing that the partnership would offer users a secure trading environment. Vanhoutteghem also pointed out that the off-exchange settlement indicates steps toward reducing counterparty risks. The Forteus President confirmed the risks as some of the most highlighted issues traders have been facing.
Forteus is a division of the Numeus Group that provides investors with innovative financial investment products. The digital asset management firm is also backed by one of the UK’s largest asset managers, Schroders.
OKX’s is a long-term partner with Komainu
The current tripartite agreement is not OKX and Komainu’s first collaboration. In June last year, the exchange partnered with Komainu to allow full-time trading of segregated custody assets for institutional traders.
Komainu’s CEO, Nicolas Bertrand, explained that the partnership would allow investors to access secure and regulated custody services. Bertrand also highlighted OKX’s importance as a top exchange and said Komainu’s custody solutions would be a gateway to more trusted and innovative options for institutional clients.
Another Komainu executive, Sebastian Widmann, revealed that the custody service provider would allow the seamless execution of services for all users.
At the time, Lai insisted that institutional investors needed peace of mind knowing their assets are safe. The OKX executive explained how the Komainu partnership with the exchange helped users achieve secure asset storage without compromised returns.
Lai further mentioned that the exchange could provide traders with immediate access to its market-leading margin portfolio account and that institutional clients could also access the exchange’s liquidity.
Phantom Wallet leverages the OKX DEX API to support Solana swaps
OKX made another announcement on November 26, revealing that the Phantom Wallet had integrated the OKX DEX API to support Solana in-wallet token swaps. The announcement confirmed that traders can access enhanced trading capabilities. Additionally, users can access optimized trading routes and liquidity.
Notably, the OKX DEX API runs on the exchange’s infrastructure. The API is a trading aggregator linked to multiple chains, including TRON and Solana. The API is connected to about 18 cross-chain bridges and over 400 DEXs.
The API’s response time is lower than 100 milliseconds, allowing Phantom to serve millions of users. The top Solana wallet could also leverage the response time to offer users optimal pricing and boosted trading solutions. Likewise, the OKX DEX smart routing technology will provide users with liquidity through the aggregated pools, 40 millisecond response time, reduced slippage, and lower costs.
Notably, the OKX DEX API is part of the recently launched OKX OS. The exchange confirmed that the OKX OS allowed developers to launch and scale applications without issues. The recent announcement revealed that multiple projects already leverage the OS, with over 400 million API calls received daily. OKX further assured developers that they could use the OS for free.
OKX insisted in the recent announcement that Phantom integrating the AP would help it scale its services and capabilities. Like Phantom, other projects can release complex DEX features in weeks by using one of the exchange’s APIs. The widget, SDK, and API are among the contributors to the simplification of the processes.
According to OKX’s Chief Innovation Officer Jason Lau, many trades passing through the exchange’s DEX from Phantom show how the OKX OS empowers developers to create and expand apps without limitations. Lau mentioned that the exchange looks forward to more developers utilizing its infrastructure to improve user experience and offer better options to users.
The Phantom Wallet CEO and co-founder Brandon Millman explained the relevance of the OKX DEX API in achieving more liquidity, routes, and tokens for users who engage with the Solana wallet.
“We’re thrilled to integrate OKX DEX into our swapper, unlocking deeper liquidity, more tokens, and better routes when trading in Phantom.”
Brandon Millman, Phantom Wallet’s CEO and co-founder
Brandon also highlighted that the partnership with OKX would allow the Phantom Wallet to evolve. He believes the OKX DEX API will allow Phantom users to access competitive rates across different exchanges from multiple aggregators through their Phantom wallet account.
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