OKB is a global universal point issued by the OK Blockchain Foundation, referred to as OKB. OKB does not conduct ICO and does not raise funds from investors publicly. OKB was initially issued based on the Ethereum ERC 20 protocol, and will be transferred to the self-developed public chain OKChain in the future.

The OKB Foundation and OKX will establish a strategic partnership to build OKB into an important part of the OKX ecosystem, which will be applied to the OKX platform and various ecological chain projects invested by OKX in the future.

Sharing and transparency are the core concepts of the blockchain. OKX will launch a platform sharing plan, which will distribute 60% of the OKB global general points to OKX users for free year by year, so that every user can participate in the construction and development of the platform and build together OKX blockchain ecosystem.

1. Project introduction

OKB is the platform currency of OKX. Its value is supported by the performance and repurchase of the OKX platform. The issuance mechanism is one-time issuance and quarterly destruction, with a deflation model.

OKB repurchase and destruction
The repurchase and destruction originally planned to start on May 4, 2019. For the 300 million OKB currently circulating in the market, OKX will take out 30% of the currency transaction fee is used to repurchase OKB and transfer it to the black hole address for destruction. From May 4, 2019 to May 31, 2019, OKB repurchase and destruction will be carried out on a weekly basis, and the details of repurchase and destruction will be announced every Friday. Starting from June 1, 2019, OKB will be repurchased and destroyed every three months, and detailed information will be announced within one week after the repurchase and destruction is completed.

By February 10, 2020, it was officially announced that the 700 million uncirculated OKB will be destroyed, and OKB will become the world's first fully-circulated platform currency.

OKChain
OKChain is an exchange public chain system developed and launched by OKX; OKB is an encrypted asset empowered by the OKX platform, and the two rely on OKX as a link to build a benign function and promote relationships. In the future, OKB will be migrated to run on OKChain, realizing a leap in the era of blockchain public chain.

OKB, as one of the official currencies on OKX DEX, will be freely and openly traded on OKX DEX. Based on OKChain's free and autonomous ecosystem, OKB will achieve effective interconnection with decentralized exchanges and trading pairs independently built by users in the future.

2. Comment

The intrinsic value of OKB comes from: the empowerment of ecological construction, the expansion of trading channels, the performance of the platform itself, and the construction of a deflation model based on OKB repurchase and destruction. 1. Ecological construction: Focusing on the expansion of OKB’s internal and external application scenarios, 11 internal application scenarios and 32 external application scenarios have been opened; 2. Transaction expansion: Currently, it has been opened for the world, including US dollars, euros, Korean won, rupees, and Vietnamese dong. 8 major fiat currency deposit channels; 3. Repurchase and burning: OKB issued a total of 300 million pieces, 13,978,364 pieces have been destroyed, and the current circulation is 286,021,636 pieces. OKB promises never to issue additional tokens, and is the world's first fully-circulated platform currency.

Continue to deepen the ecological construction around OKB and develop more application scenarios of OKB. At present, OKB has been applied in important fields such as payment wallets, transactions, financial services, lending and wealth management, network security, tourism, leisure and entertainment, and life services, and has realized landing applications; continuously expand OKB circulation and transaction channels, and activate the market potential of OKB. At present, OKB’s legal currency channel has covered dozens of countries such as the US dollar, euro, rupee, Vietnamese dong, and Korean won; at the same time, OKB has also launched dozens of mainstream trading platforms and opened trading pairs for dozens of mainstream currencies; continue to improve OKB Deflation model, increase the intensity of repurchase and destruction. The official promise will never issue additional tokens privately, and the repurchase and destruction are all OKBs from the secondary market. In this way, the intrinsic value of okb is continuously improved.

Related links:
https://www.okex.com/okb/
https://okexsupport.zendesk.com/hc/zh-cn/articles/360027937552 -%E5%85%B3%E4%BA%8EOKEx%E8%BF%9B%E8%A1%8COKB%E5%9B%9E%E8%B4%AD%E9%94%80%E6%AF%81%
E7%9A%84%E5%85%AC%E5%91%8A
https://weibo.com/ttarticle/p/show?id=2309404470853080318386&mod=zwenzhang