$116.32

OKB is a digital token issued by the OK Blockchain Foundation in collaboration with the cryptocurrency exchange OKEx, which is based in Malta. OKEx is a major trading platform, ranking among the top exchanges globally in terms of liquidity and trading volume, and offers a wide range of trading pairs. While similar to Binance, OKEx distinguishes itself with its own cloud mining service and a strong emphasis on options trading. The token serves as a utility asset within the OKEx ecosystem, allowing users to pay trading fees, participate in governance through voting, and earn rewards for holding it. Since its inception in 2017, OKEx has grown into a leading exchange, operating separately from its predecessor OKCoin, which focuses on fiat-to-crypto conversions. OKEx provides advanced features like algorithmic trading via API.

Jay Hao has been the CEO of OKEx since its inception and continues to lead the company. With a background in technology and engineering, Hao has spent years in the blockchain space, focusing on applications for video streaming and mobile gaming. Before joining OKEx, he gained two decades of experience in the semiconductor industry, developing various codecs and processors. Another key figure is Mingxing 'Star' Xu, who founded OKCoin in China in 2013 and later co-founded OKEx in Malta in 2017 as a separate entity. Xu currently serves as the CEO of the OK Group, the parent company.

OKB is integral to the OKEx ecosystem, offering users discounts of up to 40% on trading fees, depending on their token holdings. The exchange categorizes users into regular and VIP groups, with levels determined by OKB balance for regular users and trading volume for VIPs. Token holders can earn passive income and participate in the OKEx Earn program. Additionally, OKB is used for fundraising on the OKEx Jumpstart platform, accessible after registration. As the native asset of the OKExChain, OKB facilitates spot and derivatives trading and supports scalable applications through a layered architecture that enhances security and reduces consensus times. The token also provides governance rights, allowing holders to vote on platform decisions.

OKB has a total supply of 1 billion tokens, distributed as follows: 40% to founders and the project, 10% to investors, and 50% for airdrops and rewards. However, 700 million OKB are locked until 2022, meaning the circulating supply in 2021 is 300 million. The locked tokens will be released in 2022, with 100 million going to early investors, 200 million to the founding team, 100 million to the OK Blockchain Foundation, and 300 million reserved for public rewards. This structure mirrors Binance Coin's model, where 50% of service fee income is shared among token holders proportionally.

Initially, OKB was an ERC-20 token on the Ethereum blockchain, but it later moved to its own blockchain, OKExChain, which uses a proof-of-stake (PoS) consensus mechanism. OKEx emphasizes security, employing load balancing, distributed clusters, and other protective technologies to maintain a reliable trading environment. The exchange uses both hot and cold wallets, with cold wallets providing high security for storing funds. Hot wallets are enhanced with a semi-autonomous multi-signature feature to ensure fast, convenient, and secure transactions.

OKB can be purchased on the OKEx exchange, which is the primary platform. Additionally, it is available on several other exchanges, including Gate.io, Uniswap (V2), HitBTC, BiONE, LBank, Hotcoin Global, Coin Ex, ProBit Global, and Hotbit. For a comprehensive list of options, you can refer to our cryptocurrency exchanges page.