OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKX. The exchange is one of the largest in the world and currently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKX is similar in many aspects to the cryptocurrency exchange giant Binance, but there are a few key differences. The OKX platform has its own cloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKX utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKX has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKX focuses on crypto trading with a built-in API for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions for margin trading.

 

Token Burn OKX uses 30% of transaction fees from the spot market to buy-back and burn OKB.

Discounted fees OKX offers spot and futures trading fee discounts based on the users holdings of OKB as well as 30-day trading volume.

OK Jumpstart IEOs on OK Jumpstart are available to OKB holders basedon users 7-day holdings.

Token listing votes OKB gives holders voting rights on subsequent token listings where 1 OKB = 1 vote. The winning candidate will be required to pay a security deposit between 200k – 300k which will be returned monthly over 12 months.

Happy Friday distribution OKX runs a weekly bonus campaign where half of the trading fees are distributed to token holders. The rewards are denominated in bitcoin and the amount distributed is dependent on the number of OKB a user holds.

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and currently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giant Binance, but there are a few key differences. The OKEx platform has its own cloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-in API for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions for margin trading.

Jay Hao joined OKEx as CEO from the beginning, and he still holds the position. Hao has dedicated his career to technology and engineering. He has followed the blockchain industry for quite some time, with a focus on blockchain-based apps for video streaming and mobile gaming. Prior to joining OKEx, Hao had twenty years of experience in the semiconductor industry. He has developed a broad range of codecs: UVLED, ASIC, FPGA, and multimedia codecs and SOCs for multimedia processors. During this time, Hao accumulated impressive experience in product development and management.

Another key management team member is Mingxing Star Xu. He founded OKCoin in China in 2013 and has earned himself a big reputation in the industry. In 2017, Xu co-founded the separate OKEx exchange in Malta, which operates under a separate legal entity. Today Xu is the CEO of the OK Group.

The OKB token has several unique features that set it apart from other cryptocurrencies. Firstly, it offers users up to a 40% discount on transactions, based on the number of tokens they hold. This discount is available to both regular and VIP users, with VIP users receiving additional benefits based on their trading volume.

Furthermore, OKB provides opportunities for passive income through OKEx Earn, allowing users to earn on their assets. The token also plays a crucial role in allocating funds on the OKEx Jumpstart platform, which offers exclusive investment opportunities to registered users.

In addition to its utility within the OKEx ecosystem, OKB serves as the native asset of the OKExChain. This blockchain platform enables spot trading, derivatives trading, and the development of scalable applications. The use of a layered architecture enhances consensus times, scalability, and security.

To enhance the value of OKB and incentivize holders, OKEx regularly conducts token burns every three months. These burns are publicly recorded on the official website, and 30% of the income from commission fees is used for this purpose. Additionally, new users are welcomed with special bonuses.

The global utility token is similar to Binance Coin (BNB). 50% of service fee incomes are distributed among token holders in proportion to their OKB balance. The privileges of OKB include: the right to vote on the platform, the ability to invest, and the ability to trade on OKEx.

There are 1 billion OKB on the market with the following allocations:

• 40% - Founders & Project;
• 10% - Investors;
• 50% - AirDrops & Rewards;
• 700 million OKB are locked until 2022. This means that the total supply in 2021 is 300 million tokens.

The 700 million additional OKB that will be released in 2022 will be distributed as follows:

• 100 million awarded to early investors;
• 200 million stays with the founding team;
• 100 million allocated to the OK Blockchain Foundation;
• 300 million left for public awards.

The coin is an ERC-20 token that relies on a proof-of-stake (PoS) consensus. OKB operated on the Ethereum blockchain, but later the company moved to its own blockchain - the OKExChain.

OKEx is a very transparent platform. Developers assure that security is their top priority as OKEx maintains a reliable and stable trading environment. They use load balancing on servers, distributed clusters, and other technologies for protection.

Furthermore, OKEx has developed hot and cold wallets - cold wallets being one of the safest methods for storing cryptocurrencies. Hot wallets, however, require maximum attention to security and capabilities. Therefore, OKEx added a semi-autonomous multi-signature feature that enables fast, convenient, and secure transactions.