2020 Exchange Token Annual Research Report

In 2020, exchange tokens trading volume exceeds $250 billion. The market downturn caused by the epidemic and the "3.12" began to show signs of recovery in Q4. 2020 will be a year of challenges and opportunities, with exchange security incidents bringing challenges to platforms and the DeFi boom bringing new opportunities. After the hot wallet abnormal transfer incident, Kucoin took emergency handling measures and upgraded the original risk control process in a timely manner, and has completed all payouts as of February 2020. As the exchange derivatives continue to be enriched and the exchange's deployment of DeFi continues to unfold, the application scenarios of platform coins continue to be expanded.