VALLETTA, Malta, Dec. 2, 2020 /PRNewswire/ — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives trade, is happy to announce that the 10th spherical of Purchase-Again & Burn of its adopted world utility token, OKB, issued by the OK Blockchain Basis, has been efficiently accomplished. On this newest record-setting spherical, an extra 10% of OKB was added to the burn, making it the biggest burn quantity up to now.
The full variety of OKB purchased again and burned from the secondary market between Sept. 1 and Nov. 30 was 4,060,773.48 OKB – equal to $22,050,000 – and has been transferred to a devoted black-hole address. Beginning on Could 4, 2019, the OKB Purchase-Again & Burn program has already seen a grand whole of 28,548,715.55 OKB completely faraway from circulation, with a present circulating provide of 271,451,284.45 OKB.
This system highlights OKEx’s dedication to offering OKB holders with a real deflationary platform token with a frequently lowered provide. That is notably pertinent at a time when many world fiat currencies are witnessing unprecedented quantities of quantitative easing that many concern will result in widespread inflation.
“With every spherical of Purchase-Again & Burn, we intention to offer further worth for OKB holders. Within the earlier spherical, we achieved a historic burn quantity of $21 million. On this 10th spherical, we have been capable of surpass that whole by including an extra 10% of OKB to the burn,” stated OKEx CEO Jay Hao. “Along with these quarterly burns that make OKB a scarcer asset, we’re additionally frequently increasing OKB’s utility each inside and out of doors of the trade.”
OKB holders on the OKEx trade can now profit from a complete of 15 inner privileges when buying and selling on the platform. These vary from discounted buying and selling charges and OKB margin buying and selling to unique early entry to initiatives resembling OKEx Jumpstart Mining, C2C lending, OKB Financial savings, voting rights and extra.
Externally, the OKB ecosystem has developed as many as 77 totally different consumer purposes worldwide, overlaying a variety of providers from funds, loans and monetary administration to technical safety, tourism, life providers, leisure and social networking. The OKB staff has additionally opened 9 fiat buying and selling channels – together with the euro, Russian ruble, Korean received, Vietnamese dong, and Indonesian rupee. OKB can be accessible on greater than 60 buying and selling platforms, together with Bitfinex and BitMax, overlaying 154 international locations and areas.
“We’re happy with the work achieved to date and the continual growth of the OKB ecosystem and are dedicated to including even higher utility and worth to OKB all through the approaching 12 months,” Jay Hao added.
A world-leading cryptocurrency spot and derivatives trade, OKEx provides probably the most various market the place world crypto merchants, miners and institutional buyers come to handle crypto property, improve funding alternatives and hedge dangers. We offer spot and derivatives buying and selling – together with futures, perpetual swap and choices – of main cryptocurrencies, providing buyers flexibility in formulating their methods to maximise positive factors and mitigate dangers.