OKB Cryptocurrency: Everything You Need to Know About OKX's Utility Token

Modified on Mon, 17 Feb at 1:11 PM

OKB: Everything You Need to Know

OKB is a cryptocurrency that was launched in 2019 by the OK Blockchain Foundation and the Malta-based crypto exchange OKX. OKX is one of the largest and most popular crypto platforms in the world, offering a variety of services such as spot trading, derivatives trading, cloud mining, token sales, and more. OKB is the utility token that enables users to access and benefit from these services on the OKX platform.

OKB has a total supply of 300 million tokens, of which 60 million are currently in circulation. The remaining 240 million tokens are locked and will be gradually released according to a schedule. OKB holders can enjoy various advantages, such as:

Trading fee discounts: Users can save up to 40% on trading fees by holding OKB. The more OKB they hold, the higher the discount they get.

Passive income: Users can earn passive income by staking OKB on the OKX Earn platform, where they can choose from different investment products with different returns and risks.

Token sales: Users can participate in exclusive token sales of high-quality crypto projects on the OKX Jumpstart platform, where they can buy new tokens with OKB at a discounted price.

Governance rights: Users can vote and have a say in the development and direction of the OKX platform and the OKB ecosystem. They can also propose new ideas and initiatives for improving the platform.

Other benefits: Users can also use OKB to access various security, financial, and utility services provided by OKX partners, such as wallets, lending platforms, payment solutions, and more.

OKB is also committed to maintaining and increasing its value by implementing a buy-back and burn program. OKX uses a portion of its profits every quarter to buy back OKB from the market and burn them permanently. This reduces the supply of OKB and creates a deflationary effect. As of May 31, 2023, OKX has already burned 64 million OKB tokens.

OKB is one of the most widely used and accepted cryptocurrencies in the world, especially among those who value convenience, efficiency, and security. OKB is also supported by a strong community of supporters and developers who are constantly working to improve its features and performance.