What is OKEx Token (OKB)? Definition, History, and Future

OKEx Token (OKB) is the official cryptocurrency of OKEx, developed on the ERC-20 platform of Ethereum. In the future, this currency will be launched on a separate Blockchain platform called OKChain

For more detailed and interesting information about OKEx Token, please follow the following article from AZCoin.

What is OKEx Token (OKB)?

OKEx Token (OKB) is the official cryptocurrency of OKEx, developed on the ERC-20 platform of Ethereum by OK Blockchain Foundation. The purpose of OKEx Token’s birth is to serve the development goals of OKX’s ecosystem.

In the future, the OKEx Token is expected to launch on OKEx’s own Blockchain platform called OKChain.

What is OKB used for?

With OKB, users can use exclusive functions on the OKEx platform as well as many services and benefits in the ecosystem such as:

• Shopping and payment: Users can use OKB to shop for products and services from OKEx partners or businesses that accept OKB as a payment method.
• Voting and project management: Users can use OKB to vote and manage new projects on the OKEx platform as well as decide the development direction of the exchange.
• Service usage: Users can use OKB to access various features and services that the OKEx platform provides and supports.
• Staking: Users can stake OKB to receive profits from storing tokens in e-wallets.
• Receive promotions: Users can use OKB to use promotional programs and events from OKEx.

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What advantages does OKB have?

Regarding the advantages of OKB, we can mention the following main points:

• Reduced transaction fees: Users can use OKB to trade on the OKEx exchange at a low cost, helping to save transaction costs.
• Many promotions: OKEx regularly organizes events and promotions for its users.
• Ambition: OKEx is an extremely developed trading floor, with a huge number of daily transactions.
• Community sharing: At OKEx, the community has the right to vote to decide the future of OKEx, thereby forming extremely potential projects.

And with current expectations and development, OKB is believed to be able to develop and bring more potential to participants.

Information about OKB

Basic parameters

• Token name: OKEx
• Ticket: OKB
• Contract: 0x75231f58b43240c9718dd58b4967c5114342a86c
• Decimal: 18
• Blockchain: Ethereum
• Token Standard: ERC-20
• Token Type: Exchange token
• Total supply: 1.000.000.000 OKB
• Circulating supply: 300.000.000 OKB

Where can OKB be traded?

To trade OKB, the best crypto exchanges for you are OKEx, BKEX and Hoo, but in the future this number may be higher. Besides, if you want OKB, we suggest you the following two ways:

Buy OKB directly from exchanges.

Participate in rewarding events at OKEx.

Which e-wallet should OKB be stored in?

About the electronic storage wallet that should be used to hold OKB, we encourage you to use wallets such as Coin98 Wallet, Imtoken, Myetherwallet, MetaMask,… or any reputable wallet that supports ERC20 tokens.

Does OKB have development potential?

Currently, OKB’s development depends on many things such as:

• The development of the OKX exchange.
• Scalability of the blockchain and digital asset sector.
• Development of potential DeFi projects.
• Ability to connect OKX exchange to the DeFi world.

With the above, there are opportunities but also challenges for anyone who wants to trust and invest in OKB.

Summary

After all, hopefully this article has helped you gain more information and understanding about OKEx Token (OKB). And if you have any other questions, please don’t hesitate to contact AZcoin.