OKB is the native utility token of the OKX exchange. It is designed to provide various benefits to users within the OKX ecosystem, including discounts on trading fees, access to exclusive token listings, and staking rewards. OKB operates as an ERC-20 token on the Ethereum blockchain.
OKB operates on the Ethereum blockchain as an ERC-20 token. This allows it to leverage blockchain technology for secure, transparent transactions through smart contracts. OKB provides token holders with up to 40% discounts on trading fees, staking rewards, and exclusive access to high-quality crypto projects through the OKX Jumpstart platform. Its supply is periodically reduced through a token burning mechanism to enhance its value.
OKB has several use cases within the cryptocurrency sector:
OKB was launched on March 22, 2018, as part of the OKX exchange's global ecosystem. OKX itself was launched in 2017 as a branch of the Chinese platform OKCoin. Since its inception, OKB has reached significant milestones, including a high trading volume and ecosystem expansion. It includes deflationary mechanisms like token burning to reduce supply and has seen enhancements such as the integration with OKChain for improved scalability and security.