Flash News: OKX Enhances its Dollar-Cost Averaging (DCA) Bot with its Bot Marketplace
NASSAU, The Bahamas, Jan. 22, 2024 (GLOBE NEWSWIRE) — OKX, a leading crypto exchange and Web3 technology company, has issued updates for January 22, 2024.
OKX Enhances its Dollar-Cost Averaging (DCA) Bot with its Bot Marketplace
OKX today announced that it has introduced an upgrade to its Dollar-Cost Averaging (DCA) bot. This upgrade, known as ‘DCA 2.0,’ now offers DCA bot integration with OKX’s Bot Marketplace, a platform that enables users to explore, copy and launch a wide range of trading bots – including grid trading, DCA, arbitrage, slicing and many others.
The DCA 2.0 upgrade includes a new profit-sharing feature for all marketplace DCA bots under the ‘Strategy Trading (Bots)’ category. Lead bot creators can now enjoy up to 30% profit sharing through the new profit sharing mode.
In addition, bot copies can now view the historical performance of a particular bot through a ‘Profit and Loss (PnL) Curve’ chart. This feature allows bot copy traders to analyze past performance before deciding to copy a specific bot strategy. The DCA bots also boast powerful features such as ‘Manual Safety Order.’ This feature allows users to place additional orders during the bot’s active trading cycle. Additionally, users have the freedom to edit the take-profit price whenever they wish.
To better optimize strategies for copiers, lead traders can set the following two copy modes:
- Synchronous mode: This mode ensures a consistent pace among DCA bots by starting and ending a cycle simultaneously with the ‘Master’ bot.
- Asynchronous mode: This mode allows for a discrepancy between the Master bot’s PnL and the user’s PnL over time by duplicating the Master bot’s parameter and running at its own pace.
In other words, users can run the DCA bot with the same set of parameters or follow the lead trader’s DCA at the same pace and cycle.
OKX’s DCA bot is designed to make users’ crypto dollar-cost averaging strategy more robust and efficient. Rather than making just recurring buys, the DCA bot has an added feature that allows it to buy more cryptocurrencies when the price falls and sell for a profit in the event that a particular cryptocurrency’s price recovers.
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About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless.
