Learn The Difference between OKB and OKT

Many of you will wonder about the difference between OKB and OKT, so this article, translated from the Okex.com homepage, will help you answer this question.

Learn The Difference Between Okb And Okt_65b984ab4e0c9.webp

What are OKB and OKT?

OKT and OKB are two completely different tokens and have different features.

  • OKT is the native token of OKChain. OKT was born to serve OKChain’s DPoS consensus mechanism. First, OKT is released in the genesis block and an additional 1-5% will be released in the following years.

  • OKB is OKEx’s token to support the development of the OKEx ecosystem. Currently, there are only 300M OKB released once in 2018. And no more OKB will be released in the future.

What affects the price of OKB and OKT

learn the difference between okb and okt 65b984ab5141d

Okex.com

The prices of the two tokens will not be related because they are influenced by different factors:

  • OKT price is determined based on the development of the OKChain ecosystem. Applications include: DEX, DeFi and the future development of blockchain.

  • OKB’s price is determined by OKEx’s business performance. The development of ecosystem infrastructure will expand OKB’s trading channels as well as Buy-back and Burn programs.

What is OKT used for?

Here is a clearer and more logical restatement of why OKChain does not use OKB as its native token:

OKChain uses a DPoS consensus mechanism that requires a native token to operate. However, OKChain and OKEx have different development directions:

  • OKChain focuses on blockchain technology and autonomous ecosystem

  • OKEx focuses on providing trading platforms

learn the difference between okb and okt 65b984ab53451

Therefore, to maintain OKChain’s autonomy and self-operating ability. It is necessary to continuously release new tokens as well as have a mechanism to encourage users to participate.

However, OKB has a deflationary goal to increase value for owners. Therefore, using OKB as OKChain’s original token will conflict with OKB’s original goal.

Therefore, to protect the long-term interests of OKB holders. OKChain decided to develop and use OKT as its native token instead of using OKB. This allows OKChain to develop independently and towards its own goals.

Further plans to increase OKB value

Despite issuing separate OKT tokens for OKChain, OKEx continues to focus on developing the ecosystem around OKB:

  • Expand the scope of OKB usage to the fields of e-wallet, financial services, lending, and security.

  • Adding more OKB transaction and savings channels. Currently OKB is listed on more than 20 exchanges with 40+ trading pairs.

  • Open fiat gateway allowing direct buying and selling of OKB with many popular currencies.

  • Continue the Buyback and Burn OKB program to reduce circulating supply and increase token value.

  • 700 million unsold OKB were burned, no OKB was retained.

learn the difference between okb and okt 65b984ab553da

Thus, OKEx is committed to developing OKB into a token with high value and utility in its ecosystem despite the birth of OKT. This demonstrates OKEx’s consistency and long-term commitment to the OKB user community.

Related: What Is OKX Exchange? Information about the OKX exchange

Benefits of OKB holders

All 100% OKT in OKChain’s genesis block will be airdropped for free to OKB holders. In the future, both OKB and USDK will be migrated from the Ethereum blockchain to OKChain. When OKChain officially operates, OKT trading will be enabled.

OKB holders will have the opportunity to participate in governance and become supernodes on OKChain. Although OKB and OKT are different in many aspects, they are inseparable on OKChain. OKT not only supports the development of OKChain but also supports the development of the entire ecosystem surrounding OKB.

Thus, it can be seen that OKB and OKT are closely related to each other in the OKEx ecosystem. Both play important roles in the development of the project.

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