OKB is a cryptocurrency issued by the OK Blockchain Foundation and the Maltese cryptocurrency exchange, OKEx. This exchange ranks among the largest globally, currently placing third in liquidity and fourth in trading volume, while offering an extensive array of trading pairs. Similar to the cryptocurrency exchange titan Binance, OKEx has its distinctions. Specifically, the OKEx platform provides its own cloud mining service and emphasizes options trading for its users. In contrast, Binance works towards delivering a comprehensive range of cryptocurrency services on a global scale. OKB serves as the utility token for OKEx, enabling users to access exclusive features on the cryptocurrency exchange. It is utilized for calculating and settling trading fees, facilitating user participation in platform governance and voting, and rewarding users who hold OKB. Since its inception in 2017, OKEx has ascended to become a leading global trading platform. Initially launched in the spring of 2017, it evolved from the original OKCoin platform, which has been operational since 2013 in China. While OKCoin now concentrates on fiat-to-crypto exchanges, OKEx focuses on cryptocurrency trading, equipped with a built-in API for algorithmic trading. Furthermore, the exchange provides users with a multi-currency wallet and margin trading capabilities.

Jay Hao joined OKEx as the CEO from its inception and continues to hold this position. Hao has devoted his career to technology and engineering, with a particular interest in the blockchain industry, especially blockchain-based applications for video streaming and mobile gaming. Before joining OKEx, Hao accumulated two decades of experience in the semiconductor sector. He played a significant role in developing a wide array of codecs, including UVLED, ASIC, FPGA, multimedia codecs, and SOCs for multimedia processors, thereby gaining substantial expertise in product development and management. Another important member of the management team is Mingxing “Star” Xu. He established OKCoin in China in 2013, solidifying his strong reputation in the industry. In 2017, Xu co-founded the OKEx exchange in Malta, operating it under a separate legal entity. Currently, Xu serves as the CEO of the OK Group.

The OKB token is integral to the OKEx ecosystem, enabling users to receive up to a 40% discount on transactions based on the number of tokens held. The exchange categorizes users into two status groups: regular and VIP. Regular users are assigned a level according to their OKB holdings, while VIP users are ranked based on their trading volume. Commissions are updated daily, with users receiving discounts corresponding to their respective levels. Platform members who possess OKB tokens can earn passive income, as the token plays a key role in OKEx Earn, a project designed to help users generate earnings from their assets. Another function of the OKB token is to facilitate fund allocation on the OKEx Jumpstart platform. Participation in Jumpstart requires registration on the site, after which sales are conducted through MixTrust. OKB serves as the native asset of the OKExChain, the blockchain of OKEx. It is utilized on the chain to support spot trading, derivatives trading, and the development of multiple scalable applications. Furthermore, its layered architecture decreases consensus times, enhances scalability, and strengthens security. To enhance the value of OKB and increase its appeal to holders, OKEx conducts quarterly token burns, with records documented on the official website. This process uses 30% of the revenue generated from commission fees. Additionally, welcome bonuses are offered to new users.

The global utility token, OKB, is similar to Binance Coin (BNB). It distributes 50% of service fee income to token holders based on their OKB balance. The benefits associated with OKB include voting rights on the platform, investment opportunities, and trading capabilities on OKEx. The market consists of 1 billion OKB, distributed in the following manner: * 40% allocated to Founders & Project; * 10% allocated to Investors; * 50% allocated to AirDrops & Rewards; * 700 million OKB are locked until 2022, meaning that the total supply in 2021 is limited to 300 million tokens. The release of an additional 700 million OKB in 2022 is planned as follows: * 100 million will be awarded to early investors; * 200 million will remain with the founding team; * 100 million will be allocated to the OK Blockchain Foundation; * 300 million will be reserved for public awards.

The coin is an ERC-20 token that utilizes a proof-of-stake (PoS) consensus mechanism. Initially operating on the Ethereum blockchain, OKB has since transitioned to its proprietary blockchain, the OKExChain. OKEx is a highly transparent platform, with developers emphasizing that security is their utmost priority. The platform ensures a reliable and stable trading environment through the implementation of load balancing on servers, distributed clusters, and other protective technologies. Additionally, OKEx has developed both hot and cold wallets, with cold wallets being among the safest methods for cryptocurrency storage. Hot wallets, on the other hand, demand the highest level of security and functionality. To address this, OKEx has incorporated a semi-autonomous multi-signature feature that facilitates fast, convenient, and secure transactions.

The most straightforward method to acquire OKB tokens is through purchasing on OKEx. Nevertheless, there are numerous other cryptocurrency exchanges available where you can buy or trade this token. These include OKEx, Gate.io, Uniswap (V2), HitBTC, BiONE, LBank, Hotcoin Global, Coin Ex, ProBit Global, and Hotbit. Additional options are listed on our crypto exchanges page on Eulerpool.