OKEx Partners with Shrimpy to Foster Crypto Portfolio Automation

According to the official blogpost, cryptocurrency exchange OKEx and Shrimpy, a crypto exchange trading bot for portfolio management and market indexing, have teamed up in a strategic collaboration in order to foster crypto portfolio automation tools which are being utilized by the crypto traders.

Shrimpy expressed their heartfelt interest in having OKEx as an exchange partner. The team, therefore, gave a warm welcome to OKEx in return as they opined that this great business partnership is meant to progress all the tools used for portfolio automation and it is highly expected to improve the way crypto investors automate their portfolio.

Since some of the features of OKEx exchange like fiat on-ramp, futures trading, margin trading, spot trading, and swap trading grant users and traders different ways to manage trading and investment risks while interacting with the cryptocurrency market, there's a need for them to automate their various portfolios for proper management and indexing of the market.

The report also stated that OKEx has a trading fee schedule that is tiered. Possibly, this is one of the reasons Shrimpy entered into the business deal, noting that the tiered trading scheme gives traders the opportunity to decrease their trading fee from 0.15%Taker and 0.1% Maker fee to 0.03% Taker and - 0.01% Maker fee. However, the traders are expected to either increase their trading volume or hold OKEx's utility token (OKB). Holding the exchange's token gives incentives to the users like trading fees reduction and having a share in the fees OKEx realizes.

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