Status of buy-back of burn

From Sep 1 to Nov 30, 2019, the amount of OKB bought back and burned is 5,945,273.91. The bought-back OKB has been sent to a black-hole address for coin burn.

On May 4, 2019, we implemented Buy-back & Burn for the currently circulating 300 million OKB. We use 30% of the spot market transaction fee income to buy back OKB and send them to a ‘black hole’ address to burn. As of today, we have already burned a total of 13,978,364.45 OKB.

The black-hole address for coin burn is as follows:

Four directions of OKB development

OKB, a global utility token issued by the OK Blockchain Foundation, is designed by a top-notch team of developers based on blockchain technology and backed with a token economy model. OKB is designed to help connect high-quality innovative digital asset projects with global users and investors, fostering the development of the OKB ecosystem and the healthy development of the entire blockchain and crypto industry.

With the support of millions of global OKB supporters, OKB has received an astounding success. In order to continuously contribute to users and offer a better trading service, we are on the way to foster the ecosystem building, platform empowerment, expansion of trading application, public chain development and community development of OKB.

1. Building a comprehensive OKB ecosystem

In terms of ecosystem building, we are taking a two-pronged approach to optimize OKB’s ecosystem by ways of external cooperation and platform empowerment.

We have joined hands with 26 external partners to develop payment, market data, wallet, lending and wealth management, cybersecurity, travel, lifestyle, and entertainment applications.

As for platform empowerment, we have developed 11 OKB user cases on OKEx Jumpstart, OKB Trading Market and OKNodes, as well as for OKB supporters and designated merchants to enjoy fee discounts. We are still upgrading OKB to empower our trading platform.

2. Expanding OKB’s global coverage

We are striving for increasing OKB’s global coverage while building its ecosystem. Except for listing on OKEx C2C market, OKB also supports fiat trading pairs like KRW, VND, and IDR on many overseas exchanges.

We have successively cooperated with Bitsonic and Probit in South Korea, ALINIEX and Bvnex in Vietnam, as well as Indodax in Indonesia to expand OKB’s overseas market.

3. OKB-based Public Blockchain System

OKChain, the public blockchain which OKB will be built upon, is targeted to provide users with a more comprehensive credit enhancement service. It will be launched soon after a successful beta.

DEx, OKChain’s first DeFi service, will also be launched. All fees incurred from trading OKB, as the base currency of DEx, will bought back and burned.

4. Community Development

For community development, the OKB Telegram group covers hundreds of thousands of core users. We have listened to our users’ opinions to keep optimizing the development of OKB.

Between 1 November and 11 November, we launched a 10-day OKEx Global University Meetup Tour to promote OKB at the University of California, Berkeley, Columbia University, Harvard University, University of Southern California, and Yale University.

To further push the development of OKB, we need to build a comprehensive OKB ecosystem through collective efforts despite success at present.

Without your trust and support, we cannot take even a small step to develop OKB. We are dedicated to offering a first-class service for our users to share the growth together.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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