Monthly Report of OKB’s Ecosystem — February 2020

[NateWong0929]

OKB team has released its February Monthly Report recently. Below is the complete text. OKB seems that it is planning to get more use cases and be listed on more trading platforms in the past February through their efforts.

Dear OKB users and holders:
This past February OKB’s ecosystem has attained a new stage of development. Breakthroughs in various aspects have been achieved, such as the development of application scenarios, the improvement of deflation models, the expansion of partners, the construction of trading channels, and the close interactions with users.
Ø The testnet of OKChain and OKEx DEX were officially launched and therefore plenty of rights have been proposed to return to OKB holders.
Ø Burned 700 million OKB and continued to polish the deflation model and became the first fully circulating platform token around the world;
Ø OKB’s internal and external application scenarios are further expanded.
Ø A total of 5 other OKB trading channels was added to the list, involving spot trading and pending order mining;
Ø Held dozens of online community activities for millions of users.
As of now, OKB, which is issued by OK Blockchain Foundation, has completed the construction of up to 13 platform-based application scenarios including fee discounts, OKEx Jumpstart, OKB Spot Margin Trading, etc.. 35 external application scenarios covering dozens of important fields have been contained into OKB’s use cases, such as payment, transactions, trading software, wallets, lending & finance, technology security, tourism, life services, entertainment, social networking, electronic contracts, O2O, etc..
OKB has been open to 8 major fiat gateways including the US dollar, Euro, South Korean won, Vietnamese dong, Indonesian rupee, etc., and available on more than 50 well-known trading platforms including Bitfinex and Bitmax.
On the other hand, it provides first-class services to millions of users in 141 countries and regions including the United States, Britain, Germany, South Korea, Japan, Russia, Singapore, and Indonesia.
1. The highest price of OKB reached 7.55 USDT with an increase of 237.42% in February.
With community consensus becoming stronger, at the beginning of February, the price of OKB was 3.18 USDT, and by the end of the month (0 o’clock on February 29) the price was 6.05 USDT. OKB’s highest increase in February was + 237.42%, and the yearly increase was + 1,301.72%. In other words, the OKB community is reaching a much more powerful consensus than ever.

2. OKB enters the era of the public chain and is the first platform token that realized absolute deflation
With the help of OK Blockchain Foundation, OKEx, as a leading crypto trading platform, completed a great attempt in the tide of global decentralized infrastructure construction on February 10 and took the lead to launch the public chain infrastructure — OKChain. It practiced a high degree of openness and exhaustive decentralization and created a public chain system that anyone in the world can use efficiently, a world where values can circulate freely wherever they are, and an ecosystem of a public chain without borders.
Shortly, OKB will be migrated from the Ethereum ERC-20 network to the OKChain mainnet. OKB team will map 100% of the genesis block OKT to all OKB holders according to their OKB holdings. And at the same time, OKB holders will have the chance to participate in the governance of OKChain and become a supernode.
When the testnet of OKChain was launched this month, we published 5 ecosystem goals simultaneously:
1. OKChain allows users to issue their cryptocurrency on the public chain;
2. Users can build their decentralized exchange and customize what assets and trading pairs they want to list;
3. OKChain will support the distribution of DeFi applications;
4. OKChain will support smart contracts;
5. OKChain will support cross-chain BTC , acting as a bridge connecting BTC and the world.
3. 17,161,709.06 OKB was burned and deflation model improved
This month the seventh round of OKB buyback & burn has been completed with a total of 3,183,344.61 OKB, equivalent to 17.5 million US dollars, of which the amount of burned OKB has increased by 16.7% compared to the previous round of buyback & burn.
A total of 7 rounds of buyback & burn have been conducted since May 04, 2019. Until now, the cumulative number of bought back and burned OKB is 17,161,709.06. Based on the current price of OKB ($5.5 USD), the total value of bought back and burned OKB is about 94.4 Million US dollars.
OKB Buyback & Burn

Total Burned OKB in seven rounds = 17,161,709.06 OKB
Note: The planned-issuance of OKB was 1 billion. 300 million of OKB have been actually issued, and the rest of 700 million of unissued OKB were burned already.
Following the launch of the OKChain testnet, a total of 700 million unissued OKB has been burned. Therefore OKB has entered an absolute deflation and become the world’s first fully circulating token adopted by OKEx trading platform. None of OKB is retained by OKEx team, and the burned OKB all come from the secondary market according to the buy-back and burns scheme. The burned 17,161,709.06 OKB, accounting for 5.7% of the total initial circulation of 300 million OKB. The current circulating amount is now 282,838,290.94 OKB.

Once OKB is migrated to the OKChain mainnet its smart contract on Ethereum will be deleted, and OK Blockchain Foundation will not issue any additional OKB in the future. We deeply believe that only in an absolute deflation can OKB and its holders grow in a better way.
4. The number of OKB’s internal and external application scenarios continues to increase, and the empowerment of user rights is highlighted
This month, while 2 internal application scenarios developed on the OKEx trading platform, we also reached strategic cooperation relationships with 2 external ecosystem partners and achieved significant results.
On Feb. 20, we launched the spot margin trading (3X) and Savings service for OKB on the OKEx trading platform with the borrowing rate as low as 0.01%.

On Feb. 25, the 10th OKEx Jumpstart, the token sale of HDAO commenced and saw its debut price increased by 120%. OKB holders can subscribe and participate in the pre-sale activity by transferring OKB to the Funding Account in advance.

In terms of expansion of external partners, on February 13th, OKB reached cooperation with ZelCore, a new-generation high-quality wallet, to support users’ OKB asset storage on ZelCore.
On February 24th, HiCats, a blockchain game developed by Just Studio and issued by MixMarvel, became one of the OKB ecosystem partners and supporters.

On February 28th, InfinitoWallet has reached a cooperation with OKB ecosystem and added OKB token into its supporting list. InfinitoWallet is one of the most well-known wallets in Vietnam crypto communities with over 500,000 registered users and 70,000 monthly active users.

5. Five more trading platforms listed OKB, and the international layout continues to expand
OKB’s market transaction volume achieved rapid growth in February, and more and more users trade OKB and participate in the OKB ecosystem in the world.
To respond to and meet the expectations and requests of OKB users, we added 5 trading platforms in February to support OKB users to deposit, withdraw and trade globally, and it is worth mentioning that the ETF of OKB’s spot margin trading also came out this month.
On February 13th and 17th, OKB reached strategic cooperations with two famous Korean trading platforms Bitribe and BW and opened OKB / BTC, OKB / USDT trading pairs. These two exchanges mainly provide OKB trading gateways to users in South Korea, Singapore, and other countries.

On February 20, OKB has been listed on the Malta-based well-known trading platform, BHEX, which provides the deposit, withdrawal and trading services of OKB to global users.

On February 24, OKB has been listed on BitSG, a well-known trading platform in Singapore, which has supported OKB users to perform deposit & withdrawal and the ETF of OKB’s spot margin trading on BitSG.
On February 24, OKB and ViteX, a decentralized trading platform, reached a strategic cooperation relationship to support OKB’s pending order mining services for ViteX users.
As of now, 8 fiat gateways are available to OKB, such as the US dollar, euro, Korean won, Vietnamese dong, Indonesian rupee, and OKB is listed on more than 50 trading platforms with covering 141 countries and regions around the world.
6. OKB creates more values with over one billion users building community consensus jointly
This month, OKB has closely interacted with millions of users in the community through dozens of online activities. In the process of communicating and answering questions for users, many users have actively provided suggestions that are beneficial to OKB’s ecosystem.
After the launch of OKChain and OKEx DEX on February 10, OKEx CEO Jay Hao conducted an AMA in the OKEx official community on issues such as the deployment of the future right of OKB holders that users care most.

On February 17, there held an online event called “ASK ME ANYTHING OKB LEAD OPERATOR” in the official community for global OKB users and explained and reported on issues such as the OKB’s future internationalization and the development of the global ecosystem.

The transformation of the great era of blockchain is long and tortuous. We will persist in the unremitting exploration to achieve our ideals. OKB believes that with the joint efforts and support of OKB holders, OKB will create more use cases in the new development process.
“Continuously creating value for users” is OKB’s mission. OKB team promises that in the future, we will be connecting with users more closely, and draw opinions and suggestions from users. Based on the attribute of being OKEx’s platform token, we also promise to continue to optimize OKEx related products and users' experiences, make more innovations, strive to release a major product or upgrade every two months and return the industry’s top services to our OKB users.