Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.
Global cryptocurrency exchange OKX has confirmed the upcoming launch of “Orbit,” a native social networking feature integrated directly into its trading app.
The platform will enable users to discuss market trends, share verified trading performance, and execute trades without leaving the application.
Addressing the Credibility Gap
According to OKX, Orbit is designed to address a persistent credibility issue within crypto trading communities: influencers artificially inflating their success using fabricated profit-and-loss (PnL) screenshots.
By integrating directly with the exchange’s backend, Orbit allows users to publicly display their actual holdings, total PnL, and trading history. Because the data is pulled directly from the exchange, it provides a verifiable track record for other users.
In an interview with digital crypto publication Decrypt, an OKX spokesperson clarified that while data sharing is strictly opt-in, the data itself cannot be manipulated once shared.
“The user can decide whether or not to share performance data but cannot selectively edit or omit the data shown. The information displayed is derived directly from exchange data and is not editable by the user.”
OKX Spokesperson
Additional Features and Requirements
To drive adoption, Orbit will feature a reward system for follower engagement and activity. Users who post content, host livestreams, or build communities within the new feature will receive undisclosed incentives.
Next, accessing Orbit requires users to complete OKX’s standard verification processes, including Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, and comply with the platform’s terms of service.
Finally, Orbit is currently in a limited rollout phase for select users. While OKX assured that broader access will open during the beta phase, the feature will not be initially available in the United States, Europe, Singapore, Australia, or the U.A.E.
Recent OKX News
Just a week before Orbit was announced, OKX welcomed a strategic minority investment from Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE).
Under the agreement, OKX will become a distributor of ICE’s U.S. futures markets and NYSE tokenized equities.
Worth Reading: NYSE Parent ICE Invests in OKX at $25B Valuation; to Launch Tokenized Equities
Consequently, OKX begun rolling out equity perpetual contracts tied to 17 U.S.-listed stocks and exchange-traded funds, which expands its push into tokenized real-world assets and round-the-clock derivatives trading, earlier this year.
Worth Reading: OKX Launches 24/7 Equity Perpetual Contracts on 17 U.S. Stocks and ETFs
This article is published on BitPinas: OKX Launches Orbit, an In-App Social Networking to Combat Fake Trading Profits
What else is happening in Crypto Philippines and beyond?
Other Articles
Bitcoin Surges to Six-Week High as Bulls Eye $80K
No Comment! Be the first one.