OKCoin Pledges up to 1,000 BTC to Developers of BTC, BCH and BSV

Crypto exchange OKCoin recently announced the launch of a voting-driven initiative to donate up to 1,000 BTC to developers of Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin Satoshi’s Vision (BSV).

Voting starts today

According to a press release shared with Cointelegraph on Sept. 3, OKCoin, one of the top exchanges by adjusted volume, has pledged to dedicate up to 1,000 BTC to the development of Bitcoin, Bitcoin Cash and Bitcoin SV.

The initiative, called ‘Let’s Build Bitcoin Together,’ asks crypto enthusiasts to go to the OKCoin platform and cast their vote for the project they would like to receive a donation. OKCoin will reportedly send 0.02 BTC (or the BCH or BSV equivalent) on the voter’s behalf to the selected project.

The motives

The CEO of OKCoin, Tim Byun, stated that as one of the first exchanges, OKCoin is especially invested in the development of the ecosystem, and therefore decided to step up and give back to the developers who keep moving the community forward. He continued by saying:

“The ‘Let’s Build Bitcoin Together!’ initiative, which we believe is the first exchange-led community investment of this scale, is our way of showing our commitment and dedication to the Bitcoin community. Developers are, and will continue to be, key to improving the accessibility of digital assets, which is the heart of the OKCoin mission. That being said, we hope to give the full 1,000 BTC away, but we need people to get out there and vote!”

OKCoin and global deposits

On June 17, Cointelegraph reported that the fiat-crypto trading platform OKCoin had partnered with fintech firm Simplex to enable global users to make USD deposits via debit or credit card. 

At the time, Simplex CEO Nimrod Lehavi expressed his belief that credit card functionality is crucial to expediting mainstream cryptocurrency adoption.