OKEx, a digital asset exchange providing advanced financial services to global traders through blockchain technology, has announced that it is going to issue its own utility token ‘OKB’, and has launched a CNY promotion to give away 100 million OKB. It will be launched on the ERC20 protocol standard initially, and shifted to OKEx’s public blockchain – OKChain – in the future. OKB will be accepted on OKEx and will be a key piece of OKEx’s architecture & development. The company aims to build a sharing community with blockchain technology, allowing every user to participate and contribute to the development of its platform.
To celebrate Chinese New Year, and also to thank customers for their support, the company is holding a 100 Million OKB red packet giveaway promotion until the 14th of February, 2018. Each customer with a trading volume of over 5 BTC equivalent in OKEx Token Trading can get a complimentary red packet with a random amount of OKB between 10-1000 tokens. The OKB red packet will be redeemable from the 15th of February to the 22nd of February.
The available supply of OKB will be one billion tokens (1,000,000,000). 10% will be pre-sold to global blockchain financial institutions at a price of 1 ETH= 2000 OKB. 50% will be given out to customers for community building and through marketing promotions. 10% are for operations of the foundation. 10% are for initial investors. 20% will be for development team.
OKB will be used for a wide range of services, including settling trading fees, settling fees accrued interest, participating in token-listing polls, settling the deposit of verified merchant application, enjoying a dedicated customer support and exclusive VIP benefits such as colocation servers and enhanced API rate limits.