Level01 Derivatives Exchange will ensure no more painful episodes or trading scandals

OKEx is implicated in a trading scandal that tops all scandals and threatens to topple a dangerously fragile public perception on digital money trading. Bloomberg, CNN and the Blockchain reporter narrated how OKEx infuriated millions of traders when it decided to change the terms on $135 million of derivative contracts that resulted in losses for many investors. The lack of regulation on digital trading platforms, absurdly high stakes digital assets and dodgy cryptocurrency exchanges blemishes the once pristine and promising symbol hope and security that Blockchain was built for. But is it all hope lost, though?

Jonathon Loi, Mohammad Dabiri and Evgeni Pirianov engineered the Level01 system to hardwire a new level of trust and accountability that no Blockchain trading platform has ever done. Level01’s smart contract will not surrender the tokens held for trade contracts under any circumstances, until trade settlement occurs and the benefiting counterparty is determined. It will then perform its automated duty and transfer the profit tokens to the benefiting party. “This security feature makes contract heists impossible on Level01 ” says Jonathon Loi.