The utility token works under the OKC Blockchain of the crypto exchange OKX and also as ERC-20 tokens on Ethereum. It enables users to access special features in the OKX ecosystem's services and products such as spot trading, derivatives trading, and developing scalable applications. It also assists users in calculating and paying trading fees while offering trading fee discounts of up to 40%. Holders of the token can earn passive income by staking it to earn staking rewards which attract more users to the OKX exchange. It also facilitates Jumpstart OKX which offers easy access to new, high-quality projects by investing with the token. Moreover, it is a deflationary token with a buy-back and burns initiative where 30% of the spot market transaction fees are used to buy back OKB and keep its value high.
A Bit About OKB
The OKX Blockchain Foundation launched the OKB token as a native utility token on the OXC blockchain in March 2018. The OKX exchange set a maximum supply of 300 million tokens. Its primary utility is offering great discounts while trading any cryptocurrency on the OKX exchange. These trading discounts are up to 40% depending on the trading volume. OKB holders access high-quality crypto projects as an investment opportunity through the OKX Jumpstart program that connects prospective digital asset projects to OKX users and professional investors to advance developments in blockchain technology and the digital asset industry. The token gives its users access to special features. The token facilitates spot trading, scalable application developments, and derivatives trading. The token works under high scalability and security levels. The token also has a layered architecture that reduces consensus times and has facilitated operations for its parent company. The token aims at removing the intermediaries and connecting individuals with solutions that strike them. The token uses a cryptographically secure way for their data via the blockchain network, and lets creators take profits. It also serves as the governance token in the OKX ecosystem with holders earning voting rights.
Discover more about the OKX exchange's native utility token and get the latest updates.CryptoLists.com
OKB is a utility token in the OKX ecosystem that offers users trading discounts of up to 40% and staking rewards to its holders. The trading discounts apply to all cryptocurrencies supported by OKX. The token is deflationary and maintains its high value by implementing a buy-back and burn program with 30% of the spot market transaction fees buying back the token. It provides exclusive access to special features in the OKX ecosystem and facilitates spot trading, derivatives trading, and developing several scalable applications. The token settles trading fees and lets users participate in token listing polls, deposits of verified merchants, and rewards. It also allows users to get passive income with OKX Earn and participate in the Jumpstart token sales of crypto projects. Users who stake in Jumpstart get a chance for an allocation to high-quality projects. Users can also spend the token to access various services. These include security services, financial services, and utility services. Holders of OKB can benefit from the long-term potential of the token and the OKX ecosystem as it has several partnerships to enhance the development as it improves user experience and power functionalities.
Utility of OKB?
Various avenues make the coin an advantage to its holders with its main one being trading discounts of up to 40% on the OKX exchange. Through the Jumpstart Project, users can invest in crypto projects and get rates depending on the number of tokens they have. Other things that one can use the token for include voting, margin trading, and C2C lending.
The token is also used in crypto sites accepting OKB as a payment method. The token also is used under OKX partnerships to provide API for all kinds of merchants in their marketplaces.
OKB Price detailsOKC Contract address: 0xdf54b6c6195ea4d948d03bfd818d365cf175cfc2
›› Details & Tokenomics
›› OKB tokenomics and social media
Advantages of OKB+ OKB offers users up to a 40% trading fee discount in OKX.
+ The Buy-back and burn initiative maintains a high value for the token.
+ OKB enables holders to earn voting rights on governance.
+ Offers staking rewards to its holders.
+ Enables access to OKX Jumpstart program of high-quality crypto projects.
Disadvantages- OKB is unavailable to US residents.
- Works under a complex and multi-tiered fee structure.
- The buy-back and burn does not guarantee a rise in value.
- Access to OKB is limited to English and Chinese.
- It faces competition from tokens of different platforms.
Costs▪ Rated at 8/10
The token uses variable trading fees for regular and VIP users. The different tiers are the categories that holders use based on their token holdings, and VIP users use the 30-day trading volumes and asset balances. Depending on what the users are using the token for in the ecosystem, they can get discounts. Thus, a complex fee schedule shows that the more tokens a user holds, the lower their fees become.
Reputation and Buzz▪ Reputation rated at 8/10
▪ Buzz rated at 8/10
Several forums expressed their delight in the growth of the OKB token since its launch in 2018 in supporting the OKX exchange that specializes in crypto trading with a built-in API for auto trading. As the utility token of the exciting exchange, users praise the trading fee discounts that the token offers which result in significant savings. It also offers earning potential through its staking rewards and is utilized as a governance token in the ecosystem where holders earn voting rights on the exchange's developments. The Jumpstart program access offered by the token enables investors early access to high-quality crypto projects with massive earning potential which several users align with through their Initial Exchange Offerings.
Where can you buy OKB?
The utility token is available to buy on a multitude of exchanges which you can see listed towards the bottom of the page.
Does the token offer trading discounts on the exchange?
The OKB token enables trading discounts of up to 40% on the OKX exchange that depends on the trading volume.
How does the token maintain its high value?
It utilizes the buy-back and burns initiative implemented in May 2019 with 30% of spot market transaction fees buying back OKB.
What is the total supply of the token?
The OKB token has a maximum supply of 300 million.
When was the token launched?
The OKX Blockchain Foundation launched the token in March 2018.
History of OKB
March 2018 - Launch of OKB token, which was greeted with delight from fans of the exchange it's linked to.
April 2019 - It also launches on the Ethereum network as an ERC-20 token in addition to the OKC blockchain.
May 2019 -Introduced Buy-back and burn program.
Screenshots from OKB
Related crypto site? Learn more about OKXOKB is a utility token for the exchange OKX, so it's worth reading more about the company behind below.
Innovation is the crucial theme surrounding the cryptocurrency exchange known as OKX, which offers various advanced services. The crypto exchange is highly reliant on blockchain technology which facilitates all a user needs regarding trading and investment matters. The crypto exchange allows users to trade with 300+ tokens and trading pairs and is available to users in 100+ countries while offering low exchange fees to its users. OKX makes it easy to purchase, sell and trade cryptocurrency among its users via VISA, bank account, and mobile wallets. The exchange boasts of its various services ranging from earning interest on staking tokens to flexible lending and mining pool services. The exchange also gives its users the right trading tools based on their experience and ability in the crypto scene...
›› Read our full OKX review here or more directly at their website here.
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More sites where to buy/sell/trade OKBBelow you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
OKB details and tokenomics
ETH Contract address: 0x75231f58b43240c9718dd58b4967c5114342a86c