OKB: The Token Taking OKEx To The Masses

OKEx is a world-leading digital asset exchange that was created in China in 2014, that provides advanced financial services to global traders by using blockchain technology. OKEx is also one of the top leading digital asset exchanges in trading volume, serving more than 20 million customers in over 100 countries. Their BTC futures trade has nearly $1.5B of volume daily and is widely recognized as the gold standard for the industry.
The OKEx operations team was secretly developing a blockchain of their own, and in 2019 will launch and further develop its OKChain blockchain mainnet. OKB is a global utility token issued by OKEx and is the native coin of the OKChain blockchain, which is used to settle transaction fees, or used in the Dapps developed on OKChain. with the OKChain blockchain launch, OKB has since moved from ERC-20 to OKChain and has grown to be accepted and used in various use cases since then, both internally and beyond the bounds of the OKEx ecosystem.

The total supply of OKB is 1 billion with 300 million is already in circulation and 700 million currently locked up. 300 million of the locked up OKB will be given to OKEx users through their loyalty program, while the remaining 400 million belongs to the OK Blockchain Foundation and the operations team, and with regular coin burn events from the OKEx team, the supply is continuously decreasing.

Within the OKEx Exchange, OKB is used as a utility token that allows users to receive discounts when paying for their trading fees, with the amount of the discount depending on how much OKB you hold and how often you trade on OKEx.

OKChain, a commercial blockchain developed by OKEx based on Cosmos, is an important milestone in the OKEx ecosystem. When the OKChain becomes stable, OKB will be migrated from the ERC-20 network to the OKChain mainnet, where OKB will become the native token of the OKChain network used to settle transaction fees and in decentralized apps (dApps) developed on OKChain.

OKDex is the decentralized exchange being developed by OKCoin, where OKB will be the native asset on the DEX. OKEx will launch its first decentralized exchange (OKDex) on OKChain and open the supernodes election for the blockchain. With OKB, one can vote for their favorite supernode candidate and settle transaction fees on OKDEx.

OK Jumpstart is the new token generation platform from OKEx, that aims to incubate high-potential projects and support early entrepreneurs. As a new utility token sale platform from OKEx, OKB will be the only token accepted on OK Jumpstart, which creates an exclusive use case for OKB as investors can only participate in token sales with the token for the goal of driving utility to the projects on the IEO platform.

The listing vote from OKEx allows the public to decide which projects should be listed on OKEx, by casting their votes using OKB. This means that OKB holders now can significantly influence the token listing process, and after a vote ends, all OKB used for voting will be returned to our users automatically.

OKEx’s C2C trading platform is one of the world’s most advanced and secure over-the-counter digital asset trading platforms, and currently, C2C trading enables conversions between multiple fiat currencies, such as CNY, Euro, GPB, etc. and mainstream digital assets. OKEx recently added a new use case for OKB by announcing it’s coming to their C2C market, which will allow users to buy OKB with USD, CNY, and more.

“I think exchanges play an important role in driving crypto mass adoption. Also, many of us actually do more than listing and facilitating trades. We also put notable resources on developing the blockchain and creating innovative products.”
- Jay Hao, CEO of OKEx
The use cases for OKB have been expanding inside and outside of OKEx over the past two years, and OKEx has collaborated with numerous companies and projects advancing crypto adoption.

CertiK is a blockchain security company founded by Computer Science professors from Yale and Columbia University. CertiK has been able to secure over USD 62 billion assets, including many of the world’s top blockchain projects thanks to their Formal Verification technology on smart contracts and blockchain protocols. You can now pay for CertiK’s services using the OKB token thanks to their partnership with OKEx.

Tripio is the world’s first decentralized travel booking marketplace that leverages blockchain technology to connect global customers to over 450,000 hotels worldwide with authentic reviews, accurate room status updates, and lower fees. You can now book your stay at 450,000+ hotels worldwide with OKB.

QLC Chain is the next-generation public chain for Network-as-a-Service, enabling everyone to operate and benefit from network services. Thanks to their partnership with OKEx, QLC Chain has enabled its users to redeem and top up its blockchain-driven mobile services with OKB.

TrueChain is the world’s first public chain that implemented the PoW + PBFT hybrid consensus, and they have partnered with OKB to push the adoption of the token in hundreds of physical stores by leveraging the resources from projects in Korea, Thailand, Vietnam, etc.

BitTorrent is a very popular application for transferring files around the internet. With BitTorrent, you can download movies, TV shows, games, and more to any of your favorite devices. Because of the newly formed partnership with OKEx and Justin Sun, you can now subscribe to BitTorrent’s services with OKB for a high-speed, ad-free downloading experience.
The possible use cases of OKB is as unlimited as its potential. All the use cases listed above and the future use cases that grow daily show that OKB is being seen as one of the major exchange tokens with an ever-expanding utility. Depending on whether you use it to pay for shopping, booking your next hotel on a trip, exchange fees, or for the many uses for BitTorrent, OKB is slowly becoming one of the few fully operational assets in crypto space with a broadening acceptance worldwide.

