OKEx Releases OKB Buy-back & Burn Report: 5,945,273.91 OKB Burned

VALLETTA, Malta, Dec. 12, 2019 /PRNewswire/ -- On Dec 11 2019, OKEx (www.okex.com) released the latest OKB buy-back & burn report. According to the data, the amount of OKB bought back and burned between Sep 1 and Nov 30, 2019, was 5,945,273.91.

The OKB buy-back and burn scheme was launched on May 4, 2019 for the currently circulating 300 million OKB. OKEx used 30% of the spot market transaction fee income to buy back OKB and send them to a 'black hole' address to burn. As of writing time, a total of 13,978,364.45 OKB was burned.

OKB is a global utility token issued by the OK Blockchain Foundation. It is designed by the OKEx team of developers based on blockchain technology and backed with a token economy model. As mentioned in the OKB ecosystem report released on Dec 10, 2019, OKB now ranks among the top 20 cryptocurrencies by market capitalization globally, proudly offering over tens use cases, and is listed on 5 major C2C markets worldwide.

Apart from offering data on the buy-back & burn scheme, the report also touched on the progress of building an OKB ecosystem. In terms of platform empowerment, OKB has developed 11 use cases on OKEx, including OKEx Jumpstart, OKB trading market and OKNodes; OKB supporters and designated merchants can also enjoy trading fee discounts.

Besides, OKB has partnered with 26 external businesses, covering payment, market data, wallet, lending and wealth management, cybersecurity, travel, lifestyle, and entertainment applications, which allow OKB holders to purchase products or services with the token.

The building of OKB ecosystem is a key milestone towards cryptocurrency mass adoption for the entire industry.

OKB has also expanded its global coverage. Apart from listing on OKEx C2C market, OKB is also listed on renowned exchanges in a number of major C2C markets, including Bitsonic and Probit in South Korea, ALINIEX and Bvnex in Vietnam, as well as Indodax in Indonesia.

The latest report also disclosed details of OKChain and OKDEx development progress. OKChain is currently at the final development stage and its testnet will be launched soon, and OKEx's first Defi application OKDEx will also be available on OKChain by that time.

About OKEx

OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital assets trading services including fiat-to-token, token-to-token, and also derivatives trading to traders globally. Currently, over 400 spot and derivatives trading pairs are available for users to optimize their trading strategies. By providing a safe, reliable, and stable environment for digital asset trading, OKEx serves over millions of customers from more than 200 countries and regions.

SOURCE OKEx