Okcoin platform update — everything you might have missed

written by Olivia Capozzalo

Okcoin platform update — everything you might have missed

As we adapt to meet the needs of our growing customer base, we sometimes have to move quickly to address emerging requests. In case you’ve missed our latest product updates on social media, we decided to give you a quick summary of the state of the OKCoin platform today.

If you think this platform update is useful, we’ll try to do one regularly — please let us know by sending us a direct message on Twitter.

Overall platform status

  • All trading systems are fully functional. Any updates to site-wide maintenance will continue to be updated on the OKCoin Status page.
  • We are still experiencing some delays in the manual verification review of new accounts. Manual reviews only impact a small subset of customers looking to create OKCoin accounts. Manual reviews are currently taking 3-5 business days to complete. We’re working hard to work through the delays and ask for patience in the meantime. Our automatic review is still working smoothly, delivering instantaneous results.  

Wallet status

  • AVAX wallets: currently fully operational. AVAX wallets were temporarily paused over the weekend due to an upgrade of the Avalanche protocol.
  • STX wallets: currently fully operational following intermittent maintenance last week.
    • We’ve seen some conversations on GitHub about the STX memo field and would like to clarify: when withdrawing STX from OKCoin, please enter any short phrase if the receiving wallet (the wallet you are sending STX to) does not require a specific memo. 
  • ALGO wallets: wallets are fully operational after last week’s listing. The team will continue to monitor the wallet’s stability, per our usual practice after a new listing.
  • USDTa and USDCa deposits: deposits of Algorand-based USDT and USDC are currently still experiencing some disruption. We anticipate resolving this shortly and opening deposits of USDTa and USDCa.
  • All other wallets are currently fully operational. Please note, we are constantly monitoring listed protocols and may temporarily pause deposits or withdrawals for a number of reasons, which we always work to inform customers about in a timely manner. 

Earn status

  • Yearn: last week Yearn addressed the exploit of its DAI Vault and refunded users. Since then, we have reopened both the impacted Yearn DAI Vault, as well as the Yearn USDT Vault on OKCoin Earn, which we had temporarily suspended as a precaution. Read our update for more details.
  • Stacks: we’ve entered the next STX stacking reward cycle! Based on some great customer feedback, we have fixed how we display order status to make it clearer whether deposited STX  is earning BTC. A couple of follow up notes on stacking:
    • We published this Stacking FAQ to address common questions from our customers.
    • Each day, we aggregate all BTC rewards and pay out to users proportionally around 8:00 p.m. PST, as is the case with all our other DeFi offers available via Earn.
    • BTC reward distribution for stacking is frontloaded based on how much STX is currently deposited. This means that there may be a few days towards the end of the two-week cycle where you do not yet see any BTC rewards, as dictated by the Stacks protocol. The Stacks team has a great explanation of this process here.

If you found this OKCoin platform update useful, please send us a message on Twitter to let us know.

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