A Native Utility Token Of OKEx

OKB is the native utility token of OKEx, one of the world’s largest cryptocurrency exchanges.

OKB token 

OKB is primarily designed as a utility token within the OKEx platform. It provides various benefits and functionalities for users of the exchange. It is an Ethereum-based (ERC-20) token that plays a significant role within the OKEx ecosystem. 

One of the main uses of OKB is to pay for trading fees on the OKEx exchange. Users who hold OKB can enjoy reduced trading fees, making it more cost-effective for active traders.

A loyalty program of OKB allows holders to have access to special promotions, loyalty programs, and airdrops. These incentives are designed to reward users who actively engage with the OKEx ecosystem.

OKB is used not only on the OKEx exchange but also across the broader OKEx ecosystem, which includes various services like OKEx Earn, OKEx Jumpstart (token launch platform), and more.

Token burn and deflation mechanism

OKEx periodically conducts token burns, during which a certain number of OKB tokens are permanently removed from circulation. This burn mechanism is intended to create scarcity and potentially contribute to the token’s value appreciation over time.

OKEx launched its own blockchain called
OKChain, and OKB is expected to play a role within this blockchain’s ecosystem. Additionally, OKB can be used to participate in decentralized finance (DeFi) projects that partner with OKEx.