Episode 7: Talking OceanEx with COO Wei Wang

by | Podcasts

On the heels of their new product launch, Wei Wang talks about how CryptoFarm will appeal to investors. We also discuss the OCE token, the future NTI platform, and discuss other industry issues such as Binance and Facebook. 

 

 

 

 

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How effective has OceanEx’s CryptoFarm been?

by | News

Wednesday, June 19 – Many were shocked when Wednesday night’s OCE lockup sold out 10,000,000 OCE tokens in under 5 seconds. The day before, the VET lockup received 50 million VET in a similar timeframe. CryptoFarm, the latest product from OceanEx, has now locked up nearly half a million dollars worth of funds in less than 10 seconds of active enrollment. So what is so attractive about the product?

CryptoFarm allows users to lockup tokens for a set period of time. It is a low risk value-added plan that provides users with a relatively stable asset growth solution. Users can earn returns without exposing their tokens to the potential risks of short-term trading.

It’s hard to imagine OceanEx predicting this level of popularity for the new feature – despite it’s high annualized return of 10-25%. Yet if early indications are anything to go by, the platform will be very popular among token holders who don’t wish to risk their assets trading, but are still interested in earning growth. One can also look to the success of Wealth Management Products (WMPs) in China, that has turned into a $20 trillion industry of both short and long-term lending. Personal assets as an investment in China is expected to reach $37 trillion in the next five years.

Of course, scaling will be an issue, as the WMP industry in China is riddled with shadow banking and unregulated lending. OceanEx will need to be transparent and forthcoming to maintain trust, while still satisfying the demand of a growing user-base. Still, if they are successful, this represents great utility for the OCE token, which is needed for many of the platform’s features.

The Balance of Power

One interesting side-effect of the CryptoFarm announcement was a steady influx of user assets from other exchanges. Over the past week, Binance’s wallet has decreased by about 68 million VET – while OceanEx’s wallet now contains over 250 million more VET than before. This gives OceanEx an important surge in trading volume, moving their VET/ETH, VET/BTC, and VET/USDT pairs into the top spot on coinmarketcap.com. This has an important influence on coin price metrics, as the exchanges with the highest volume play a critical role in determining the reported token price.

CryptoFarm now has the potential to replicate that with other tokens. Tomorrow will feature the TIC token, and OceanEx has mentioned that they will make other non-VeChain tokens available as well. If OceanEx replicates their success in drawing in a large quantity of tokens from other projects, they could find themselves quickly climbing the rankings of top global exchanges by volume.

Sources:
China Tightens Grip on Wealth Management
VeChain Rich List

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TicTalk and OceanEx make a series of announcements

by | Uncategorized

Sunday – June 16th: Those expecting a quiet weekend will be pleasantly surprised with all the ecosystem news released on Saturday. OceanEx reaffirmed their commitment to being a top global exchange at their Ho Chi Minh City meetup. In attendance were CEO Nan Ning, Head of Global Marketing Starry Liu, VeChain SEA GM Sarah Nabaa, and various other community contributors.

Highlighting the announcements was the release of OceanEx’s CryptoFarm, an investment platform that allows users to deposit assets and earn annualized returns. Users will be able to sign up on June 18th, to be part of the 50 million total lockup, which will be allotted on a first come, first serve basis.

While some in the industry might reject the idea of depositing tokens with centralized exchanges, this represents an alternative to short-term trading as a means to achieve growth on a portfolio. Furthermore, OceanEx’s use of multi-layer custodial solutions, including VeChain’s HSM, makes the platform more attractive to more security-conscious investors. It also represents an option for those US-based investors seeking alternatives to Binance, who recently announced account closures for customers in America.

Other news included the release of the OceanEx iOS App’s alpha version. The app brings a more user-friendly experience, but its biggest effect might be in the Chinese market, where customer preference for mobile apps is extremely high. No release date was given for Android, but early indications are that it will be sooner rather than later.

Finally, slides at the OceanEx Meetup in Vietnam indicated the launch of a New Token Issuance Platform on OceanEx. With the success of various IEO launches around the industry, many are eager to see the VeChain ecosystem add a similar feature to their range of services. More news is expected this month as OceanEx continues to develop and rollout features.

TicTalk

It’s been quite a while since we heard substantial news from this project, but on Saturday they announced they received strategic investment from three key Chinese VC companies: Keyin Capital (科银资本), Consensus Lab (共识实验室), and BA Capital. This investment will be used to build up their new incubation platform, used to assist entrepreneurs with the development of new projects.

TicTalk noted that recent developments has led to a diversification of the platform, expanding the scope from one main social media app to a number of projects under the TicTalk incubation platform. In an interview with 499Block, TicTalk Founder and CEO Tao Ran spoke about how TicTalk was overseeing the development of projects that would add to both the TicTalk and VeChain ecosystem, making use of the TIC token. More details about TicTalk are expected later this month.

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ToolChain Seminars Planned across China

by | Uncategorized

Friday, June 14th – VeChain announced a series of seminars across China to better educate the public about their Blockchain-as-a-Service portal. ToolChain can be used by small and medium sized companies to put their products on the blockchain, allowing products and data to be verifiable and transparent. ToolChain’s core technology is used in enterprise resources such as DNV GL’s My Story, giving small business owners a powerful blockchain tool.

The first “ToolChain Day” seminar is scheduled for Sunday, June 23, in Shanghai. Participants will be introduced to the technology behind blockchain, how it can be used, and share ideas about possible use cases. Interested parties were asked to register by email. In addition, voting was announced for future ToolChain Day locations, with cities like Shenzhen and Beijing being considered.

This highlights the additional marketing efforts VeChain is taking to spread their wide range of industry use cases throughout the country. 2019 has seen a notable increase in events and activities, as VeChain attempts to encourage blockchain adoption in a legal and professional manner.

https://twitter.com/sunshinelu24/status/1139515108286185472

Also on Friday, CEO Sunny Lu announced the possibility of a merger between ToolChain and DNV GL’s My Story. This would be good news for ToolChain users, as they would have access to more enterprise-grade options. It could also give ToolChain users the opportunity to take advantage of DNV GL’s auditing services, a valuable third-party resource that could increase the credibility of on-chain data. For those interested in ToolChain, they can apply at vechain.org.

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A Guide to VeChain Wallets and Token Management Tools

by | Guides

In this guide, we look at some of the different ways to manage VeChain tokens while including some handy tools for wallet management. It’s important to familiarize yourself with different methods so that you can get the most out of the ecosystem while still ensuring your digital assets are safe.

VeChain Token Naming Standards

Native Tokens

These include VET and VTHO, the two main tokens that power the ecosystem.

VIP180

This is a subset of ERC-20 and can be used for token-based projects on VeChain platform.

VIP181

Non-fungible tokens (NFTs) that are used for nodes, game pieces, and other dApp usage.

Officially-Endorsed Wallets

1. VeChainThor Mobile Wallet for iOS or Android

This offers a ton of exclusive features, including access to the official node marketplace where users can take part in auctions or directly transfer nodes. Besides being able to store, view, and transfer assets, users can also access the “Discover” section which includes a number of community built dApps.

Why do you need it?

Many ecosystem activities will be centered around this wallet. Node holders will find the many node services to be particularly useful. Being able to discover and use new community dApps will be a major reason to keep opening the wallet.

2. Sync (Desktop Wallet)

A desktop web browser that has built-in wallet functionality. Web pages that support VeChain dApps will work flawlessly within Sync. Sync is also a great way to view and transfer VET tokens from your computer.

Why do you need it?

Using a desktop is just more convenient, especially when using more complex dApps.

3. Comet (Plugin for Chrome or Brave)

This plugin integrates with your regular browser to give you a lightweight but well-designed wallet. Made by Totient Labs, this tool functions similarly to MetaMask on Ethereum.

Why do you need it?

A very secure and lightweight plugin is a must-have for many dApps and blockchain games. The Comet icon sits in the top right corner of your browser, giving you quick access to your wallet and other info.

Other Wallets and Tools

1. Arkane Wallet (Third-Party Web Wallet)

Direct Link: https://arkane.network/

Designed to make cryptocurrency more simple, this multi-chain tool allows users to sign up for a wallet using Facebook, Gmail, or an eMail address. While this offers you less security compared to a regular wallet, it’s a good option for when you need fast account setup. Cool features allow you to send tokens to an email address, as well as to trade tokens directly within the wallet.

Best feature: Instantly create wallets using your Facebook or Gmail accoun

2.. MySafeWallet (Browser-based Wallet)

Direct Link: https://mysafewallet.io/account

This wallet was created by the Safe Haven team to allow access to Comet users. It functions like MyEtherWallet, and plans to offer Ledger and Safe Haven hardware wallet support in the future. At the moment, features are pretty limited.

Best feature: Future integration with Safe Haven’s hardware wallet.

Wallet Management

1. Wallü (Requires Sync, Comet, or Mobile Wallet)

Direct Link: https://wallu.vechainstats.com/

This handy analytics tool shows a number of wallet-related statistics. You can access Wallü using Comet, Sync, or the Official Mobile Wallet. It also allows the set up email notifications related to the node marketplace, so that users will be alerted if nodes within their price range are put up for sale. Also, users can monitor other addresses for management on transparency purposes.

Best feature: In-depth statistics about your holdings.

2. VeChain Tokens (Requires Sync)

Direct Link:

This financial tool can be used to manage VIP180 tokens within Sync. The sending features are quite advanced, as you can use Multi-Task Transactions to bundle a number of clauses into one transaction. You can manually enter multiple recipients, or upload a .csv file with the list of transactions to initiated. This is especially useful for companies or developers who regularly pay salaries or make other bulk payments.

Best feature: Complex transactions using MTT.

3. My Tokens (Requires Sync)

Direct Link: https://tokens.vecha.in/

This simple token management tool allows you to view and transfer VIP 180 tokens from within Sync. The real advantage here is a very user-friendly interface.

Best feature: Clean interface and easy VIP180 token management.

4. Fabrx (No wallet integration required)

Direct Link: https://dash.fabrx.io/thread/alerts/VET

This simple tool allows users to receive email notifications whenever a wallet sends or receives tokens. Great for monitoring personal, tipping, or charity accounts that may receive funds at irregular intervals. Wallets don’t require ownership, so users can track foundation or other accounts as well.

Best feature: Incredibly simple email notifications.

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