The Past, Present and Future of OKB ｜ First-Half Review and Outlook

[NateWong0929]

Dear users，

We just had an AMA on OKB's H1 review and future outlook. Let us take a look at the highlights of this AMA.

OKB ecosystem has experienced explosive growth and this is the result of long-term accumulation and OKEx's continued empowerment of OKB. To summarize OKB’s past 6 months' achievements, we quote "A long journey can be covered only by taking one step at a time" as a summary. Every step that OKB has taken is steady and pragmatic.

OKB has accomplished achievements in the past six months as follows:

In terms of OKB price performance, the price of OKB had the highest increase of nearly 300% in half a year while the current price increased by about 200% compared to the lowest price in 2020, and the total market value of OKB entered the top 10 benefiting more and more OKB users.
In terms of internal application scenarios, the number of application scenarios on the OKB platform has expanded to 14, including small asset conversion, OKB Savings, trading fee deduction for leverage trading, OKEx Jumpstart, OKB Buyback and Burn and so on.
In the construction of OKB community and its influence: OKB followers come from 154 countries and regions around the world, and OKB is listed on 50 exchanges worldwide, and available to tens of global fiat currency deposit;
The above achievements are inseparable from the efforts of all users who continuously support OKB.

OKB has always attached great importance to the construction of network effects. We build a strong and powerful network effect for OKB through attracting more loyal followers, building more practical application scenarios, more useful platform empowerment, more adoptions, wider circulation, and better market value performance.

OKB in this way has achieved remarkable development.



Application scenarios of #OKB



OKB already has as many as 14 internal application scenarios with the continued empowerment within the OKEx trading platform.

1. Trading fee discount with holding OKB

Holding OKB in OKEx transactions can offer you a trading fee discount starting from 10% to 40% at most. In other words, when you are holding OKB and trade on OKEx, every transaction you make can save a certain ratio of the transaction fee. At OKEx, we hope to put the rights for OKB holders on the ground and let every OKB holder enjoy the benefits.

2. OKEx Jumpstart Subscription

You can subscribe to Jumpstart by holding OKB. When a new project listed in OKEx Jumpstart, the more you hold OKB, the higher the quota coefficient will be allocated. Through this mechanism, we ensure that long-term holders of OKB have a better chance to benefit from the Jumpstart projects.



3. OKB Buyback & Burn Plan

OKB adopts a deflation model design to ensure the growth of the token value. In the past May, we completed the eighth buyback and burning of the previous quarter, and the fee income of more than 19 million dollars has taken out to repurchase and burn 3,509,874.52 OKB. Starting from May 4, 2019, for the 300 million OKB in circulation in the market, OKEx has taken out 30% of the overall spot trading fees that happened in the OKEx trading platform every quarter for the repurchase.

Also, OKEx is considering taking the transaction fee of the derivatives market into the buyback and burn.

4. Small Balance Convert to OKB

In the OKEx platform, you can convert these assets less than 0.01 BTC to OKB at any time. Please follow the below instruction to experience the function.



Furthermore, OKB saving service has been launched to guaranty the passive income of OKB holders. We developed 14 privileges and benefits for OKB holders currently.

The future of #OKB

In the above talkings, we have introduced OKB's past and present. Summed up in one word, it is: many a little makes a mickle. About the future of OKB, we want to use “be practical and be hopeful” to summarize. In the future, there will be more creative application scenarios for OKB holders and we have reason to believe there will come breakthroughs in the next half year.

In the next 6 months, we will implement 4 plans regarding OKB Ecology that are related to the interests of everyone here.

The global community and ecological scenes development of OKB will be more open and practical.
OKB team will launch an expecting product online. I can reveal a few keywords: cool, free, simple, and dedicated to letting more people gain benefits.
In addition to the mysterious products mentioned above, OKB Ecology has a very innovative product plan to launch, keywords: innovative, let OKB users get real benefits, simple
Possibility of combining OKChain mainnet with the native token, OKT, and OKB


ASK Me Anything

1. Aside from the burning of OKB, what medium or long term strategy could be implemented for the benefit of users who are holding OKB?

With the launch of OKChain mainnet in the future, OKB holders will receive the airdrop of the genesis blocks of OKT that is the native token of OKChain. And OKB is going to migrate from Ethereum onto OKChain. OKB’s role is becoming clearer than ever after the eighth buying back and burn. The better OKEx does, the more opportunities OKB has in the market.


2. Is there any plan for OKB chain ecosystem to explore in the areas like Defi, Gaming or something else in the future for mass adoption.

Yes, OKChain is planned to explore in various fields including but not limited to Dex, Defi, gaming, and utility dapp. Currently, a certain number of developers have joined in running OKChain testnet and contributing towards the OKChain ecosystem.


3. After launching OkChain and OkDex, what roles will OKB play in the OKex ecosystem? What are the benefits of OKB holders when the Okex ecosystem is completed?

OKB is still and will always be the bridge connecting all users and OKEx platform. OKB is also one of the fundamental infrastructures to the OKEx trading platform. However, OKChain with OKT as its native token is an open and free public chain. These two tokens have different serving goals.



4. What are the benefits that investors can get after investing in OKB? And how do you convince investors that OKB is suitable for long-term investment and do you think OKB is a cryptocurrency that is more efficient than other assets?

OKB serves as the native token for the OKEx platform. Currently, a set ratio of transaction fee which happened on OKEx spot trading markets has been taken into buy-back and burn every quarter. In the future, a certain amount of transaction fees from the OKEx crypto derivatives market will be taken out to join in the OKB buyback and burn plan so that OKB become deflation token. And in other words, the total supply of OKB is decreasing while the income of OKEx is increasing. Like it always says: less is more.

5. Can we use fiat to buy okb？

Yes, you can. For the time being, you can use the U.S. dollar, euro, Korean on, Vietnamese dong, Indonesian rupiah, Russian ruble, and other fiats to purchase OKB on OKEx.com.

Please find more details via this URL: https://www.okex.com/buy-okb