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OKB is a digital asset by OK Blockchain Foundation and OKEx, a prominent global crypto exchange with a top-notch liquidity ranking of third place and fourth in trading volume. OKEx offers a diverse portfolio of trading pairs, setting it apart from its major peer, Binance, with a specific focus on options trading. OKEx leverages its own cloud mining operation and provides an unparalleled user experience.
OKB is the native token of OKEx, granting holders exclusive benefits like reduced trading fees, governance participation through voting rights, and rewards for holding the token.
Since its launch in 2017, OKEx has established itself as a top-tier cryptocurrency trading platform, evolved from its parent OKCoin (operating since 2013 in China). While OKCoin now concentrates on fiat-crypto exchange, OKEx focuses on crypto-to-crypto trading and offers a built-in API for algorithmic trading, along with a multi-currency wallet and margin trading options.
The OKB token is a crucial element in the functioning of the OKEx platform, offering users discounts on transactions based on their token holdings and trading volume. The token also provides opportunities for passive income through projects like OKEx Earn, and funds the OKEx Jumpstart platform, allowing for the development of various scalable applications.
OKB serves as the native asset of the OKExChain, which features a layered architecture for fast consensus times, enhanced security, and improved scalability. The token is utilized for various trading activities, such as spot trading, derivatives trading, and more.
To increase the value of OKB and incentivize holding, OKEx conducts regular token burns every three months and publicly records the process on its website, using 30% of commission fees for this purpose. New users are also eligible for welcome bonuses.
OKB is a digital token built on the Ethereum blockchain and utilizing PoS consensus mechanism. The company later transitioned to its proprietary blockchain, the OKExChain, for better control and management of its operations.
OKEx places a high priority on security and transparency, with load balancing, distributed clusters, and other technologies in place to ensure a secure and stable trading environment. The platform also offers hot and cold wallet options, with the latter being a more secure storage solution. To further enhance security, OKEx has implemented a semi-autonomous multi-signature feature, allowing for fast, convenient, and secure transactions.
