03/28/2024
BTC70,740.0
ETH3,583.42
USDT0.999756
BNB586.24
SOL185.81
XRP0.620468
USDC1.0
DOGE0.214066
BUSD1.002

OKB (OKB) Price

OKB
4,4
$65.15
Market cap
3,906,984,709.0
Total volume
15,874,369
Circulating supply
60,000,000
Total supply
235,957,685
OKB
Today, OKEx, the cryptocurrency exchange that ranks second in terms of trading volume, unveiled its platform token ‘OKB’ along with 10 trading pairs. Detailed on its dedicated support webpage, OKEx reveals OKB to be a global utility token provided by the OK Blockchain Foundation. The entirety of OKB tokens numbers one billion (1,000,000,000), with its distribution plan dedicating 60% to be distributed among OKEx users to foster community engagement and boost marketing efforts. It was previously announced by OKEx that OKB had been introduced on the ERC20 protocol this month.

Public funding initiatives such as ICOs (initial coin offerings) have been explicitly rejected by the company. It's reported that the firm will transition the token to its proprietary OK chain shortly, whereupon it will be integrated not only within the OKEx ecosystem but will also support various associated initiatives. The global supply caps at one billion tokens, with 600 million designated for distribution amongst OKEx's clientele to cultivate community ties and propel marketing initiatives. The remaining tokens are set for a lock-in period ranging from one to three years.

OKEx has reiterated that the initial issuance of OKB occurred on the ERC20 protocol earlier in the month. Steering clear of ICOs and collective fundraising, the company has declared plans to migrate the token to its native OK chain soon. This move anticipates the token's application across the OKEx platform and various affiliate projects. In all, one billion tokens will be circulated worldwide, with 600 million allotted for OKEx users to deepen community connections and amplify marketing drives, while the balance will be secured in a lock-up phase lasting from one to three years.

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