OKB Price

Introduction to OKB Cryptocurrency

OKB is the native token of the OKX (formerly known as OKEx) cryptocurrency trading platform, issued by the OK Blockchain Foundation. It is a utility token based on the ERC-20 standard, launched in 2018, aimed at powering the OKX ecosystem.

Main Features:

1. Utility: OKB holders can enjoy various benefits, such as lower trading fees, access to the initial exchange offering platform OK Jumpstart, and voting rights for listed coins on the OKX platform.
2. Ecological System: OKB serves as the network cryptocurrency within the OKX ecosystem, used for paying transaction fees on the OKChain blockchain and the decentralized trading platform OKDex.
3. Buyback and Burn: The OKX platform allocates 30% of spot trading fees towards a buyback and burn programme for the entire ecosystem, purchasing OKB tokens from the open market every three months to maintain the scarcity of the OKB token.
4. Application Scenarios: OKB is not limited to the OKX platform but can be integrated with other platforms and applications to provide a broader range of services and products.

Conclusion: OKB is a utility token designed to energise the OKX ecosystem, offering various benefits and application scenarios while maintaining its scarcity and value.