What Is OKX Token (OKB)? Overview of OKB Token

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What is OKX Token (OKB)?

OKX Token symbolized as OKB is the electronic currency of the OKX exchange. Initially released on the Ethereum blockchain platform but later runs on its own blockchain, OKchain. Since then OKB is considered a coin (OKX’s exchange coin) and not a token.

Overview of OKEX exchange

Open OKX Account Here

Founded in 2014, OKX is invested millions of dollars from venture capital funds such as: Longling Capital, Ceyuan Ventures, Qianhe Capital Management, eLong Inc and VenturesLab.

OKEX (OKX) is one of the reputable exchanges and has a relatively large trading volume (ranked 2nd after Binance).

In addition to acting as an exchange, OKX also builds a private blockchain, called OKX chain (OEC), and has an investment fund called Blockdream Fund/Ventures.

Detailed information about OKB token

Basic information

Token Name: OKB

Tickets: OKB

Contract: 0x75231f58b43240c9718dd58b4967c5114342a86c.

Decimal: 18

Blockchain: Ethereum

Token Standard: ERC-20

Token Type: Utility.

Total supply: 300,000,000 Tokens

Circulating supply: 60,000,000 Tokens

Token Allocation

Here is a clearer and more detailed rewrite of OKX’s token allocation:

Initially, the total supply is 1 billion tokens. However, OKX burned 700 million unissued tokens, so the current supply is 300 million.

OKB token allocation is as follows:

– 60% (600 million tokens) used for community development and marketing for 3 years. Currently, 300 million has been released to the market.

– 10% (100 million tokens) for OK Blockchain Foundation. Locked for 2 years.

– 10% (100 million tokens) for early shareholders. Locked for 2 years.

– 20% (200 million tokens) for the development team. Locked for the first year, then 20 million will be released each year.

OKX uses 30% of trading fee income to buy back and burn 300 million OKB in circulation every quarter.

Use Case

– Global Partners: Preferential prices and transaction fees when using OKX services; OKX’s global partners will enjoy preferential pricing when using OKEx’s services.

– OKB Trading Market: Free transaction fees and service fees when buying and selling transactions in OKB trading market.

– Discounted fee: When buying or selling on OKEx, transaction fees will be reduced

– Vote Rights: Similar to Huobi FastTrack, when using OKB coin to vote, the project will be listed on OKEx.

– OKChain & OKDex: Users can use OKB to pay transaction fees on OKChain after OKChain officially operates.

– OK Jumpstart: Users hold OKB to have the opportunity to invest in potential projects that will be issued through OKEx.

Wallets & Exchanges

Users can use to trade at:

Centralized exchange (CEX): Gate, MEXC, BKEX, Bitget

Decentralized exchange (DEX): UniSwap (Arbitrum), Trader Joe v2 (Arbitrum), SolidLizard…

Trusted OKB storage wallet: Users can store OKB Token on: Coin98 Super App, Metamask, Trust Wallet.

Similar projects

Binance Coin: Coin issued by the Binance exchange.

Huobi Token: The official token of Huobi Global.

Conclude

Through the article about the OKB token above, AZC News hopes readers will grasp basic information about this token to make their own investment decisions. Wishing you a successful investment!