OKB Buy-Back & Burn Report (Mar 1 - May 31, 2020)

[NateWong0929]

OKB has launched the 8th round of Buy-back & Burn between Mar 1 and May 31, 2020. The amount of OKB bought back and burned was 3,509,874.52 OKB, equivalent to USD 19,000,000 (according to the OKB price on June 2, 2020).

Since May 4, 2019, we implemented Buy-back & Burn for the currently circulating 300 million OKB. 30% of the spot market transaction fee was used to buy back OKB from the market and being sent to a black-hole address to burn.

As of today, we have already burned a total of 20,671,583.58 OKB, the current OKB in circulation is 279,328,416.42 OKB.

Following the launch of the OKChain testnet in February, we decided to burn the 700 million unissued OKB and promised no additional OKB will be issued in the future. Since then, OKB has entered absolute deflation and became the world's first fully circulating platform token.

1. OKChain Implements Significant Updates

As an important addition to OKB's ecological construction, the OKChain testnet has been updated to version 0.10 recently. In this new version, OKChain testnet has optimized the proxy voting mechanism to suit the rights and interests of ecological nodes, and has launched a global recruitment for supernodes.

All OKB holders will enjoy 100% genesis blocks mapping of the native token OKT when the OKChain mainnet launches. All OKB holders will also have the opportunity to become the supernode of the OKChain ecosystem and enjoy the ecological rights and interests within the public chain.

OKT is the native token of OKChain and plays an important role in fueling the ecological system. OKT allows users to operate OKChain validators/supernodes and act as voting proxies. Users can also issue their own DEX and listing trading pairs.

At present, OKChain's first batch of ecological alliances covers many important areas, such as public chains, browsers, wallets, and mining pools. OKChain users can enjoy first-class services offered by OKChain’s top global partners.

OKChain constructs new ecosystem for blockchain applications: https://www.okex.com/okchain



2. Expansion of Platform Privileges

The number and quality of OKB's platform privileges continue to increase. As of today, OKB has built a total of 14 internal privileges based on the OKEx platform for millions of users around the world. As an OKB holder, you can enjoy the following privileges when you trade on OKEx:

Trading fee discounts: OKB holders can enjoy discounts on transaction fees when they trade on the OKEx platform;
OKEx Jumpstart: OKB holders can participate in the sales of high-quality blockchain assets through OKEx Jumpstart;
OKB Saving service: OKB holders can enjoy the passive income brought by depositing OKB in Savings every day. Depositing and withdrawing are flexible and interests is accrued every day, with no minimum deposit limit;
Convert small balances to OKB: OKEx users can convert any asset valued less than 0.001 BTC into OKB in their Funding Account;
Others privileges include OKB margin trading (3x leverage), OKB spot and C2C trading, Designated Merchants, OKChain ecological benefits and more.

In the future, all user rights and privileges based on OKEx trading platform will be automatically upgraded and enhanced.

OKB connects every user: https://www.okex.com/okb



3. Comprehensive Trading Channels

To meet the increasing trading demands and the continuous development of the OKB ecosystem, OKB has been expanding its trading channels worldwide:

C2C Trading Pairs: OKB current support a plethora of mainstream fiat currencies, including USD, Euro, Korean Won, Vietnam Dong, Indonesia Rupiah and Ruble.
Spot Trading Pairs: Apart from OKEx, OKB is also listed on more than 50 global exchanges, such as Bitfinex, Bitmax and more.
In the future, OKB will further expand and enhance its trading channels to serve its global users, so that more users can enjoy the ecological benefits of OKB.



4. Diverse Ecosystem Applications

Currently,OKB has developed 50 ecological application scenarios worldwide, covering payment,transactions,wallets, loan and financial management,technical security, tourism, life services, entertainment, social networking, electronic contracts, and C2C services.

OKB holders can enjoy the first-class security services, mortgage lending services, various wallet services, online and offline shopping payment services, hotel reservation services, etc. through OKB.