OKB - a cryptocurrency, issued by the OK Blockchain Foundation and the Maltese crypto exchange OKEx. The exchange is one of the largest in the world and currently ranks third in terms of liquidity, fourth in terms of trading volume and also provides a wide selection of trading pairs.
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Description of OKB
OKB - an OKEx utility token that allows users to access special features of the crypto exchange. The coin helps to calculate and pay trading fees, grant users access to voting and governance on the platform and reward users for owning OKB. OKEx is similar to crypto exchange giant Binance in many ways, but there are a few key differences.
The OKEx platform has its own cloud mining service. It has become the world's leading marketplace since its launch in 2017. The project was launched in the spring of 2017 and became an offshoot of the original OKCoin platform (operating since 2013 in China). OKCoin focuses on fiat-to-cryptocurrency exchange while OKEx focuses on crypto trading with a built-in algorithmic trading API. The exchange also provides users with access to a multi-currency wallet and margin trading features.
Project benefits
The OKB token plays an important role in the OKEx ecosystem. This allows users to receive up to 40% discount on transactions (depending on the number of tokens the user has). The exchange divides users into two status groups: regular and VIP. Loyal users are assigned a level, according to their OKB shares, while VIP users are leveled, according to their trading volume. Commissions are updated daily and users receive a discount, based on their respective level.
What other features of the project:
| Passive income | Platform participants can earn passive income if they have OKB tokens and the token participates in OKEx Earn (this project helps users to earn from their assets). |
| Purpose of the coin | Another purpose of the OKB token - to allocate funds on the OKEx Jumpstart platform. Participation in Jumpstart is available only after registration on the site - after which sales are carried out through MixTrust. |
OКB - own asset of OKExChain (OKEx blockchain). The token is used on-chain to facilitate spot trading, derivatives trading and the simultaneous development of multiple scalable applications. In addition, the layered architecture reduces consensus time, improves scalability and enhances security. In order to increase the value of OKB and make the digital coin more attractive to holders, OKEx regularly burns tokens every three months and records the burning of coins on the official website. For this procedure, OKEX uses 30% of commission income. In addition, new users are provided with welcome bonuses.
Buying and selling cryptocurrency
The global utility token is similar to Binance Coin (BNB). 50% of the revenue from the maintenance fee is distributed among token holders in proportion to their OKB balance. OKB privileges include: the right to vote on the platform, the ability to invest and the ability to trade on OKEx.
The easiest way to get coins - to buy them through OKEx. However, there are also many alternative cryptocurrency exchanges where you can purchase or exchange a token. These include:
- OKEx;
- FTX;
- Gate.io;
- Uniswap (V2);
- HitBTC;
- BiONE;
- LBank;
- Hotcoin Global;
- Coin Ex;
- ProBit Global;
- Hotbit.
You will only be able to purchase OKB with USDT and some other stablecoins.