What is OKB?
OKB is the global utility cryptocurrency of the OKX exchange (formerly OKEx). Designed to bridge digital asset projects with OKX users and investors, OKB fuels the OKX ecosystem while advancing blockchain technology and digital asset innovation.
Current OKB Market Data
- Price: $49.86 USD
- 24h Trading Volume: $5.25 million
- Circulating Supply: 60 million OKB
- Max Supply: 300 million OKB
History of OKB
Founded by Star Xu in 2013 through Okcoin, the OKX ecosystem expanded with OKEx's launch in 2017. Key milestones:
- 2017: ICO raised $100M+; OKB launched as an ERC-20 token for fee payments.
- 2018: Jay Hao became CEO, initiating quarterly buyback/burn programs.
- 2020: OKChain testnet launched; 700M unsold OKB burned, reducing supply to 300M.
- 2021: OKT token distribution via OKX Jumpstart staking.
- 2022: Rebranded as OKX, reflecting expanded services beyond exchange operations.
👉 Discover how OKB's burn mechanism enhances token value
How OKB Works
OKB powers OKX's multi-chain ecosystem with these core functions:
- Fee Payments: Up to 40% discount on trading fees.
- Governance: Voting rights for protocol upgrades.
- Passive Income: Staking rewards via OKX Profit.
- Project Funding: Allocation through OKX Jumpstart.
Tokenomics
- Buybacks: 30% of spot trading fees fund quarterly repurchases.
- Burns: Regular supply reduction to increase scarcity.
Key Use Cases of OKB
Exchange Benefits
- Tiered fee discounts (General/VIP levels)
- Jumpstart participation privileges
Ecosystem Participation
- Governance proposals
- Early access to new projects
Financial Tools
- Derivatives trading collateral
- Cross-chain interoperability via OKC
👉 Explore OKB's utility in decentralized finance
FAQs About OKB
What determines OKB's price?
Market demand, exchange adoption, and burn mechanics collectively influence valuation. The quarterly burn events create deflationary pressure.
How do I earn with OKB?
Holders generate passive income through:
- Staking rewards
- Trading fee rebates
- Jumpstart token allocations
Is OKB a good investment?
While past performance shows resilience, always conduct independent research. Consider factors like:
- OKX ecosystem growth
- Competitive positioning vs. exchange tokens (BNB, FTT)
- Regulatory landscape
Future Outlook
OKB continues evolving with OKX's Web3 initiatives:
- OKC Blockchain: Enhanced scalability for DeFi projects
- Institutional Adoption: Growing enterprise integration
- Global Expansion: Strategic partnerships worldwide