OKB update: OKB Live price, price chart, news and markets

The OKB price update as of now is $44.87. In the previous 24 hours, its trading volume was $3,070,691, and its value has decreased by -0.50%. As of now, OKB's live market cap is $2,692,297,406, and it is ranked as the #54 on the Coincu. OKB has a circulating supply of 300,000,000 and a maximum supply of 300,000,000.

OKB Overview & History

What Is OKB (OKB)?

OKB is a cryptocurrency released by the OK Blockchain Foundation and OKEx, a well-established crypto exchange. OKEx is one of the largest exchanges in the world, ranking third in terms of liquidity and fourth in trading volume. It offers a wide range of trading pairs and has unique features that set it apart from other exchanges like Binance. Unlike Binance, OKEx provides cloud mining services and focuses on options trading. It aims to cater specifically to the needs of traders worldwide.

OKB functions as the utility token on the OKEx platform, granting users access to exclusive features. It is used for calculating and paying trading fees, as well as providing voting and governance rights within the OKEx ecosystem. Furthermore, users can earn rewards for holding OKB tokens.

Launched in 2017, OKEx has made a mark as a leading trading platform. It was established as a separate entity from OKCoin, an exchange operating in China since 2013. While OKCoin focuses on fiat-to-crypto exchanges, OKEx specializes in crypto trading, offering an integrated API for algorithmic trading. The exchange also provides users with a multi-currency wallet and margin trading options.

Who Are the Founders of OKB?

OKEx has been led by Jay Hao since its inception. With a strong background in technology and engineering, Hao has been actively involved in the blockchain industry. He had a particular interest in blockchain-based applications for video streaming and mobile gaming. Prior to joining OKEx, Hao gained extensive experience in the semiconductor industry, focusing on product development and management.

Another prominent figure in the OKEx management team is Mingxing "Star" Xu. Xu founded OKCoin in China in 2013, establishing himself as a respected figure in the industry. In 2017, he co-founded OKEx as a separate exchange in Malta under a distinct legal entity. Xu currently serves as the CEO of the OK Group.

What Makes OKB (OKB) Unique?

The OKB token plays a vital role within the OKEx ecosystem. It offers users the opportunity to receive discounts of up to 40% on their transactions, depending on the number of OKB tokens they hold. Users are categorized into regular and VIP status groups, with regular users' level determined by their OKB holdings, and VIP users' level determined by their trading volume. The exchange updates the commissions on a daily basis, providing discounts based on the respective levels.

Holding OKB tokens allows platform members to earn passive income and participate in OKEx Earn, a project designed to help users make the most of their assets. Additionally, OKB is used on the OKExChain, the OKEx blockchain, for spot trading, derivatives trading, and the development of scalable applications. The layered architecture of the chain enhances consensus times, scalability, and security.

To increase the value of OKB and incentivize holders, OKEx conducts regular token burns every three months, publicly recording them on their official website. For this process, 30% of the income from commission fees is allocated. Furthermore, welcome bonuses are offered to new users.