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OKB Ecosystem Monthly Report in May 2020

In May, OKB has conducted the eighth buyback and burn, in which 3,509,874.52 OKB in the worth of 19 Million U.S. dollars was sent to the black-hole address and burned.

Besides, 2 new partners have landed in the OKB ecosystem and a series of campaigns were launched to further heighten privileges of OKB holders including buying OKB and get additional USDT and BTC bonus.

As one of the most significant application scenarios, OKChain, and its testnet have accomplished a certain number of meaningful upgrades including setting up the rules for voting and supernode candidates, as well as the launch of the first OKChain Hachathon campaign.

1. The highest increase in May is 17.4OKB Markets in May: % and one single-day trading volume has surpassed 310 Million U.S. dollars.

OKB price in early May: 5.09 USDT

OKB Price in late May: 5.26 USDT

OKB highest price in May: 5.67 USDT

2. OKB conducted the Eighth buyback and burn equivalent to 19 Million U.S. dollars.

Highest increase in May: 17.4%

24 hours trading volume surpassed 310 Million dollars on May 29, representing the highest in May. The mainly trading pairs against OKB are USDT, ETH, BTC, and USDK, in which trading volume of OKB/USDT trading pair took 56.60%.

In May, the eighth buyback and burn of OKB has been conducted, the involved period of which is from March 01, 2020, to May 31, 2020. This time the number of the bought back and burned OKB is 3,509,874.52, equivalent to 19 Million U.S. dollars based on the market price at the time, 9.3% higher than the seventh round.

The original issuing of OKB is 300 Million and after completing the eighth round of buyback and burn, the accumulated bought back and burned OKB is 20,671,583.58, taking 7% of the original issuing. The current supply in the secondary market is 279,328,416.42 OKB.

3. Significant Upgrades of OKChain Testnet

The future buyback and burn of OKB will all towards the secondary market. On the premise of no additional issuing of OKB in the future, all the rest of OKB will migrate onto the mainnet of OKChain and its smart contract of issuing will be deleted.

We believe that with the full heart and sincere practice of OKB team, the deflationary model of OKB is leading the market, and will give back to all supporters with its high-quality performance.

As one of the most significant application scenarios of OKB, OKChain has accomplished the release of testnet 0.10. OKT is the exclusive native token to OKChain ecosystem and in the future, 100% of OKT genesis blocks will map to OKB holders.

4. OKB Application Scenarios Continues to Expand

On June 04, the first OKChain Hackathon Campaign launched to all developers, and participants can win OKB rewards up to worth 5,000 U.S. dollars

On May 20, OKB has reached a partnership with the payment platform, Linka, with the support of which OKB holders can use OKB to buy daily necessities in Korea.

On May 28, OKB has reached a strategic partnership with Changelly, one of the most famous crypto exchange platform. Since then users can use Visa, MasterCard, Apple Pay, and other payment services to buy OKB.

On May 10, one of the significant internal rights for OKB holders, the pre-sales of the 13th OKEx Jumpstart — NDN Link has completed successfully. The exclusive subscription round for OKBelievers reached 8,482,996,335 NDN and that for OKTraders is 6,523,456,534. NDN saw a 200% price increase in its debut trading compared to the pre-order price.

5. Airdrop Campaigns Launched for OKB Followers

Until now, the number of landing scenarios with the support of OKB global partners has reached 45, covering more than 10 important fields including payment, transaction, market software, wallet, lending and loan, technology security, travel, living service, entertainment, social, electric contract and O2O.

At the same time, OKB holders also enjoy 14 internal privileges including trading fee discount, OKB savings, OKB leverage trading, Small Balance Conversion, OKEx Jumpstart Subscription, OKB buyback & burn, delegated merchants and other privileges.

In May, we have launched an airdrop campaign to all OKEx users: users who purchase OKB worth 100 U.S. dollars will get an airdrop of 10 U.S. dollars in USDT. Also if you invite your friend to sign up on OKEx and purchase OKB worth 100 U.S. dollars, both you and your friend will get an airdrop of 10 U.S. dollars in Bitcoin.

On May 14, we held an AMA for our global fans with the CoinCryptoProfit group and reported the current ecosystem constructions of OKB.

Besides, we also held an AMA in the SatoshiClub group to answer the questions regarding OKB raised by the group.

OKB Email: okb@okex.com

OKChain Email: okchain@okex.com

In the future, the OKB team will strive to offer the best quality service to more users and help build a consensus towards the blockchain industry and OKB.

If you have any questions or advice, please contact the below email address.

OKChain telegram: https://t.me/okchaintech

OKB Team

June 2020

Originally published at https://www.okex.com on June 9, 2020.

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