OKEx is one of the world's leading cryptocurrency exchanges launched in China in 2014.Get Wallet
What are OKEx and OKB?
OKEx is one of the world's leading cryptocurrency exchanges launched in China in 2014. This service provides a variety of advanced trading strategies and OKB is the native token on the OKEx platform. OKEx offers a wide range of trading tools, including spot trading, margin trading, futures, loans, perpetual swap and options. It doesn’t serve customers from the U.S., Hong Kong, and almost 20 other countries due to financial regulations. OKEx exchange (originally launched in China as OKCoin exchange) has a large selection of trading pairs and ranks among the top three exchanges by trading volume on Coinmarketcap. There are over 170 tokens listed there with more than 550 available crypto trading pairs. Over $1.5 billion worth of BTC futures traded on a daily basis on OKEx. OKB is the native global utility token of the exchange and was issued by the OK Blockchain Foundation. OKB holders can enjoy different benefits such as lower fees, voting rights, additional rewards, giveaways, and the ability to invest in OKEx-incubated projects (OKEx Jumpstart), and more.
OKB token is the bridge connecting the trading platform and users. OKEx team has developed 52 app scenarios including, payment system, market data, wallet, lending and wealth management, cybersecurity, travel, lifestyle, and entertainment apps, which allow OKB holders to purchase products or services. OKEx has implemented an OKB “Buy-Back & Burn” system for the circulating 300 million tokens with 30% of trading fee income from the spot market. All OKB holders have the ability to trade with lower transaction fees, subscribe to OKEx Jumpstart service, and much more.
OKEx main features
OKEx has launched a testnet for its own public chain called OKChain. OKEx DEX, the first dApp built on it. OKChain is a complex of open-source blockchain projects developed to support large-scale commercial applications. It allows users to create dApps, issue their own digital assets, and create trading pairs. Cross-chain technology is used and provides users and scenario application interconnectivity. Each dApp can have its own exclusive blockchain via the IBC protocol. OKEx DEX is a decentralized trading platform that ensures asset security, allowing users to completely manage it.
OKB is an ERC-20 token, there’s a total supply of 1 billion OKB tokens with 300,000,000 on the market and another 700,000,000 locked until 2022. A token swap is expected to conclude by the end of 2020, when a token OKT that drives the new chain, will transfer “old” token from Ethereum to OKChain mainnet. The platform finances, supports, and incubates blockchain-based start-ups and builds projects through its OKEx Jumpstart and OKEx Cloud tools. The first is a token sale platform that allows blockchain projects to become public and be listed in a top liquid market while helping to accelerate the growth of the ecosystem. Token holders can invest in new projects on favorable terms. OKEx Cloud is a digital asset exchange cooperation system that enables OKEx partners to use all technological solutions to rapidly create their own independent exchanges using work-ready technology. It provides partners with advanced features such as order matching systems, secure wallets, and shares liquidity and market depth with other cloud exchanges. OKB is a utility token, like Binance Coin (BNB). 50 % of the service fee earnings from trades is distributed to OKB holders in proportion to their balances.
Other OKEx features:
Other OKEx features: OKEx Pool allows miners to join mining pools to mine PoW coins like BTC, ETH, LTC, DASH, and DCR. Miners can enjoy stable yield through OKEx Pool staking service available for PoS coins like DAI, ONT, EOS, IOST, ATOM, YOU, XTZ, etc.
OKEx Futures allows traders to hedge or profit from long or short positions with Coin-Margined or USDT ( Margined weekly, bi-weekly, quarterly, and bi-quarterly futures contracts futures.)
OKEx Perpetual Swap makes the trading process easier with no delivery and expiry dates, swaps are available with 1-100x leverage.
OKEx Options allows traders to enjoy unlimited profits with limited risks, options discovery, and a calculator.
The saving function gives the opportunity to open a savings account and users can get a good return on their tokens.
Term Deposit enables users’ tokens to be invested and locked for an agreed rate of interest over a fixed amount of time.
EARN is a one-stop-shop that allows users to get access to all financial products. It offers a variety of tools including staking and savings, which enable users to earn interest income.
C2C Loan offers a loaning service between users to meet their various borrowing and investment demands.
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