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What is OKB?
This is the utility token that OK Blockchain Foundation issued, and it comes under the ERC-20 tokens category. OKB plays an important role in synching several products and services that are present in OKEx for users. By OKB’s core structure, it is also a deflationary token. All this is thanks to its buy-back and burn initiative regularly.
What are the Perks of OKB?
You might be wondering what makes OKB so special. Well, it’s a simple answer, which is that it helps you in making money. Still wondering how? Keep on reading.
- Trading fee discounts – If you hold on to OKB tokens in your account on OKEx, it’ll assist you in saving a reasonable amount of trading fees. In turn, this will increase your profit in the entire scenario, and you’ll see a notable difference as time passes. Those who use OKEx, can save as much as 25 percent on trading fees when they hold the OKB tokens.
- Investing in OKB – Since the launch of OKB in the world of cryptocurrency, it’s given notable returns to the holders. This is a deflationary token, meaning that there’s a continuous reduction in the supply of OKB tokens. According to the deflationary policy of OKEx, OKEx will purchase back OKB tokens from the community then burn them forever.
- OKB Savings Return – You’ll be able to purchase OKB on the OKEx platform then be able to use this feature to make more OKB tokens only by subscribing to the savings scheme of OKB.
- OKEx Jumpstart – When you hold on to one hundred OKB tokens for five consecutive days, OKEx users will be able to use this feature. With this feature, OKEx shares can begin to invest in early cryptocurrency projects of high quality. The early cryptocurrency project tokens subscription amounts and allotment rates are determined by the OKB tokens level held by users.
- Miscellaneous Benefits – Similar to how not all heroes wear capes, that’s the same way that there don’t have to be names for all benefits. When you hold on to OKB tokens, you’ll have the right to vote, make better use of margin trading, assist you in making use of C2C lending, and much more.
Outside the OKEx Platform, what’s OKB?
If you’re thinking that the importance of OKB is only on the OKEx platform, then we’ve got good news for you. The role of OKB in OKEx is only one part of the existence of this crypto. It’s serving several platforms outside the platform of OKEx, which accept OKB as a payment form.
As a matter of fact, OKEx was part of the foremost few exchanges worldwide to actively participate in the promotion of decentralized finance space across the entire cryptocurrency market by listing UNI token’s derivatives.
We can easily identify the commitment and support of OKEx to the decentralized finance space by the total number of projects we’ve listed in the past couple of years. Besides the decentralized finance projects, OKEx has also been a very great DeFi trading products supporter by allowing coin-margined swaps, margin tradings, savings, perpetual swaps, and DeFi projects derivatives.
OKEx hasn’t only limited itself to allowing DeFi trading products and listing DeFi projects; it also embraces the development of liquidity mining in the decentralized finance ecosystem. OKEx makes it easy for new investors to participate in Yield Farming through its feature where users of OKEx can now invest in protocols of yield farming such as Uniswap, Compound, Curve, and YFII by just pressing a button without leaving the OKEx platform.
The team of OKB is consistently helping the entire ecosystem of OKB grow in the ever-evolving crypto and blockchain world by collaborating with several like-minded firms that believe in the concept of offering unmatched power functionalities and user experience.