The Hong Kong trading platform OKEx, which is in the TOP-10 of the largest daily trading volume of cryptocurrency exchanges, announced the launch of its own blockchain OKChain, on the basis of which decentralized exchange (DEX) decentralized trading platform OKDEx will be launched.
Thus, OKEx can become the second crypto-gambling, after Binance, which has its own blockchain network and a decentralized exchange based on it. According to preliminary information, this will happen this summer in June.
The main purpose of OKChain is to launch the OKDEx decentralized exchange, where presales will be created using the OKB token. In addition, using the OKB token it will be possible to pay the service charge to the superuser of the network.
To date, out of 1 billion of the total emission of OKB tokens, 300 million are in circulation. Another 300 million will be distributed to users through the loyalty program, and the remaining 400 million are managed by the OK Blockchain Foundation and the exchange teams.
“For a more efficient development of the OKB ecosystem, we decided to extend the blocking period of 700 million tokens from 2020 to 2022,” representatives of the exchange said.
Another purpose of the OKB token will be its use during the initial exchange offerings (IEO) on the OK Jumpstart platform. Thus, it will be possible to participate in campaigns conducted on the site and acquire tokens of other projects only with OKB.
OKEx representatives said that at the moment the exchange is already negotiating with various projects and will soon announce the launch of its first IEO on the OK Jumpstart site. Only those investors who have passed the verification and have a sufficient number of OKB tokens on their accounts will be able to take part in the tokensale.