OKB Ecosystem Monthly Report (Oct — Nov 2019)

OKEx
OKEx
Dec 9, 2019 · Unlisted

Since the launch of OKB, we have been making every effort to perfecting the OKB ecosystem in the past 21 months. Through our buy-back & burn scheme, token economy model, platform-empowered and external use cases, we are continuously enhancing the value of OKB as a global utility token.

Currently, the total circulating supply of OKB is 300 million and it is ranked among the top 20 global cryptocurrencies by market capitalization. OKB has been widely applied in daily applications and scenarios, as well as a number of services on OKEx. We wouldn’t have achieved such astounding success without your support! We will be issuing a comprehensive OKB progress report on a monthly basis so that you can witness and support the growth of OKB in the future.

1. OKB as a Global Exchange Token

  • OKB is now listed on the OKEx C2C market, accounting for approx. USD110 million daily average trading volume from tens of thousands of users;

In order to improve users’ OKB trading experience, we are working on listing OKB on more C2C exchanges in major countries and areas. Recently, we have launched OKB trading in OKEx C2C market, a key milestone in expanding the OKB ecosystem, and we will not stop here.

To this end, we have rolled out two promotions to give back to OKB holders, including fee-free OKB trading in the C2C market and 5,000 OKB trading bonus. The promotions made a hit and OKB’s daily trading volume reached approx. USD 10.7 million.

We have also partnered with the major C2C exchanges in Vietnam, such as ALINIEX and Bvnex, to support VNDB trading. Our partners, Bitsonic and Probit, from South Korea have launched KRWB trading as well.

As C2C trading has become increasingly popular, and we will continue to expand its functionalities to build OKB as a global utility token.

2. Introducing 36 New Use Cases

  • The number of OKB platform-empowered use cases has increased to 11;

Building the OKB ecosystem has been one of our key focuses this month. Apart from developing the use cases of OKB on OKEx, we are gradually expanding its application to other industries after multiple tests.

In order to give users a clearer picture in understanding the benefits of building a strong OKB ecosystem, we have divided it into two parts: platform-empowered use cases on OKEx and external use cases.

Currently, there are 11 use cases for OKB on OKEx. It will be the native token on the soon-released OKChain and OKDEx.

For OKEx Jumpstart, we have already adjusted the subscription rules prior to the 9th token sale on Nov 14, 2019. OKB is now the only token accepted for subscription on the listing platform. We have also integrated OKB to OKNodes, trading markets, trading fee discounts, listing benefits, voting, OKEx Global Partners program, prime investors and Designated Merchants.

Externally, we have made great progress on the development of OKB and recruited 25 quality partners.

  • Network security: We have established partnerships with global leading security firms, such as Slowmist, Beosin, and Certik, to allow using OKB to purchase cybersecurity solutions.

For example:

  • OKB holders can book their stay at 450,000+ hotels worldwide with OKB on Tripio, the world’s first decentralized travel booking marketplace based on blockchain.

We have accelerated the mass adoption of OKB into as many aspects in daily life as possible, including network security, financial services and lifestyle. But we don’t just stop here, we will keep on expanding the scope of our utility token in the years to come.

3. OKChain Testnet to be Launched Soon

  • OKChain testnet will soon be launched pending final development results.

We know that everyone is anticipating the launch of OKChain and OKDEx. We can confirm that OKChain is currently at the final development stage and its testnet will be launched soon.

As a leader in the crypto industry, we are constantly striving for the best and thinking of ways to offer outstanding services and products for our users. When it comes to trading, we understand that users look for more than just amazing trading products, they are also concerned about asset security. That’s why we have been working on developing our own decentralized exchange, OKDEx, as a supplement, rather than a replacement, to our existing products, so that users can enjoy even higher security and trustless services with us.

OKChain is a commercial blockchain developed based on Cosmos sdk, it is an important foundation in the OKEx ecosystem that aims to build a secure and efficient Defi with our years of experience in the field, optimizing blockchain solutions for different financial applications.

As the basis of OKB, the fundamental function of OKChain will be payment services. We will also be putting the stablecoin USDK co-offered by OKLink and PrimeTrust on the OKChain mainnet in the future.

Our first Defi application OKDEx will also be available on OKChain by that time, it allows users to access a shared order book and order matching system on-chain. We are also exploring other Defi applications, such as developing a BTC cross-chain, decentralized lending products, and more derivatives trading services, etc. Please stay tuned to our future monthly reports for updates.

We have always been committed to offering world-class products and services to our OKB users. Thank you for your continued support and we will keep on facilitating the eco-development for OKEx and to drive the advancement of the blockchain and digital assets industry.

Should you have any suggestions on OKEx, please leave us a comment below or contact us at okb@okex.com.


Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


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OKEx Blog

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World’s Largest Spot & Futures Cryptocurrency Exchange

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