What is OKB?
OKB is the proprietary token of the cryptocurrency exchange OKEx, which uses blockchain technology to provide advanced financial services to users around the world. There are hundreds of cryptocurrency pairs available for trading, including futures trading.
From the beginning, the token issued by the OK Blockchain Foundation worked due to the ERC-20 blockchain, and after the launch of OKExChain, the token was transferred to its own network.
The token has no shortage of applications; as part of its ecosystem, OKB creates favorable conditions for its users to receive discounts of up to 40% on transactions. In particular, the token participates in the OKEx Earn savings product, which allows participants to earn interest on their assets.The OKEx exchange systematically burns its own tokens to increase their value and attractiveness in the eyes of their owners. For this purpose, the exchange uses 30% of the income generated by commissions on transactions on the spot market. Tokens are burned once every three months by sending them to a special address that no one has access to.