OKEx, the 2nd most popular cryptocurrency exchange by trading volume, launched its platform token ‘OKB‘ today with 10 trading pairs. On its official support page, OKEx describes OKB is a global utility token issued by the OK Blockchain Foundation. The total available supply of OKB will be one billion tokens (1,000,000,000), with a distribution model that allocates 60% of the supply will be given out to OKEx customers for community building and during marketing campaigns. According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month.
The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years.
According to OKEx, the company had officially issued OKB on ERC20 protocol earlier this month. The company denied ICO (initial coin offering) and public fundraising. Reportedly the company had stated that it would be soon shifting the token to its official OK chain and subsequently it will be applied not only on OKEx’s platform but also on other related projects. There will be in total 1 billion tokens supplied globally out of which 600 million coins will be distributed to OKEx customers for community building and marketing campaigns. Rest will be locked up for a period of 1 year to 3 years.
OKB token is a cryptocurrency that is used as the native token of the OKEx exchange, which is one of the largest and most popular cryptocurrency exchanges in the world. The OKB token was created by OKEx as a way to incentivize users to participate in the exchange's ecosystem and to provide a range of benefits to holders of the token.
One of the unique features of the OKB token is that it offers holders a range of benefits on the OKEx platform, such as lower trading fees, access to exclusive features, and the ability to participate in token sales and other events. OKB token holders can also use the token to purchase goods and services on the OKEx platform.
In addition to its utility on the OKEx exchange, the OKB token has also gained popularity as an investment asset, with its price being determined by market demand and supply. The token has a limited supply, which creates scarcity and can potentially drive up its value over time.
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