We are pleased to announce that Orchid (OXT) will be listed on Kraken starting June 2.
What is Orchid (OXT)?
Orchid aims to incentivize a distributed network of computers to provide an alternative to traditional virtual private network (VPN) services.
To accomplish this, Orchid uses a new cryptocurrency, OXT, which allows users to buy bandwidth and that bandwidth providers need to purchase and stake to power the network.
With OXT, you can:
- Pay anonymously for only the bandwidth you use. Monthly fees and personal payment information is not required.
- Easily change providers. If you want to switch to a different provider, a quick tap will get you randomly reassigned to a new one.
- Share your account. Orchid works across an unlimited number of devices.
Please note that you will not be able to stake OXT through Kraken at launch.
What time will funding and trading start?
- Funding: Kraken will enable deposits and withdrawals for OXT at approximately 13:30 UTC on June 2.
- Trading: The first trades will start shortly after funding is enabled as sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here). The initial trading minimum will be 50 OXT.
- Updates will be posted on the status page near launch time.
How to deposit
- Navigate to “Funding” > Select “Show all assets”
- Search for Orchid (OXT) > Click “Deposit” next to Orchid (OXT) > Generate a deposit address > Send OXT to this address.
Confirmations required before deposits credit
Fine print and fees
- Deposit/Withdrawal Minimum: 10 OXT
- Deposit/Withdrawal Fee: 3 OXT
- Deposit Address Setup Fee: 6 OXT
- Trading Minimum: 50 OXT
- ICO: N/A (private sale)
- Current: $0.202 (May 2020)
- Circulating: 65,807,277 OXT
- Total: 1,000,000,000 OXT
Which services will OXT be available for?
Not (yet) available
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.