Here are 16 details you need to know about @ OKX's upcoming tokenized securities venue (TSV) trading platform: The company entity is called OKXICE LLC, with ICE and OKX USA each holding 50% of the shares 2/This TSV is built on X Layer with OKB as the gas 3/This TSV uses Uniswap v4 and "permissioned" Hooks to establish a stock token AMM, which can be traded 7 × 24 hours and the price is determined by x * y=k, not a traditional order book The meaning of 'permission required' is that retail investors, institutions, and market makers must undergo KYC and AML reviews in order to participate in trading and become LPs, and will receive a non transferable SBT in their wallets. Every transaction, transfer, LP addition, and other activity will be checked for SBT by the smart contract; If users encounter sanctions, suspicious activities, regulatory requirements, etc., OKXICE can withdraw/destroy SBT and remove the wallet from the whitelist. 5/The first batch of supported stocks includes over 60 well-known ones such as NVIDIA, Tesla, Microsoft, Google, and Apple SpaceX、 Amazon these ... they must all be inside. These stocks can be traded in pairs with USDC, USDT, and USDG. 6/These stocks are not synthetic assets and must be supported by 1:1 NMS Stock. And enjoy the same rights as ordinary stockholders, including economic rights, dividends, voting rights, merger/split synchronization, etc 7/These stocks can be traded 24/7 on Uniswap V4, with prices entirely determined by AMM Pool. When there are no prices on NASDAQ and NYSE on weekends, there are still prices in Uniswap. However, if the underlying stock is suspended due to delisting, circuit breakers, or other factors, Uniswap must also cease trading. 9/User assets are always self managed, OKXICE does not manage user assets. Therefore, the transaction is also fully settled on the chain, without a clearing house. 10/Only supports spot trading. To buy $10000 TSLA token, you must have $10000 stablecoins. We do not support leverage methods such as margin deposits and loans. Since it is on chain, anyone holding SBT through KYC can provide liquidity to become an LP and participate in market making. 100% of the pool handling fees will be paid to LP, OKXICE does not charge. OKXICE will charge an additional service fee for each transaction. 12/As it is' license required ', third-party smart contracts cannot integrate or access OKXICE TSV smart contracts unless they are whitelisted. 13/There is still a big suspense: Who is the "tokenizer" responsible for stock custody, token minting/redemption, and rights mapping? Is it OKXICE itself or another company? It is currently uncertain. If tokenizer agrees in the future and another trading platform meets SEC requirements, these token stocks can also be traded on platforms other than OKXICE TSV. This is a standard dispute, which is important in the long run. There are already Ondo, xStocks, bStocks, Coinbase tokenized Stocks, Robinhood Stock Tokens and other stock token issuance channels/standards in the market. How to integrate their liquidity will be a problem in the future. 15/OKXICE TSV has received a notice of objection from the issuer of Cerebras Systems Inc. (CBRS), which raises another question. What if more listed companies explicitly oppose the tokenization of their stocks? The SEC has set a daily trading limit for TSV for a single stock. The stock will be suspended from trading on TSV for 3 months for the second and subsequent excess effects. That is to say, the SEC allows experimental on chain securities trading, but the scale must be small enough. If the experimental scale limit is repeatedly exceeded, the SEC will force this subject to cool down for three months. The overall feeling is that OKX's approach this time is different from other CEX companies. It combines stocks, stablecoins DeFi、 Self custody and traditional stock exchanges are all organically connected together, rather than simply 'tokenizing', which is very impressive @ star_okx If this model works, the blockchain industry will no longer just compete for the trillion dollar cryptocurrency asset trading market, but will begin to enter the trading and settlement infrastructure of tens of trillions of dollars of traditional securities assets. What the SEC is experimenting with is whether DeFi LPs can legally become liquidity providers in the US securities market. If they eventually succeed, it means that ordinary people can also truly become market makers in the securities market, which is of great significance