The OKB team commenced the tenth round of its Buy-back & Burn program between Sept. 1 and Nov. 30, 2020. In this round, based on the original burned volume, there was an additional 10% OKB added to the burn. The total number of OKB bought back and burned from the secondary market was 4,060,773.48 OKB — equivalent to $22,050,000 — which has been transferred to a dedicated black-hole address.
The OKB Buy-Back & Burn program was initially launched on May 4, 2019, when 30% of the spot-market transaction fees was used to buy back tokens from the original pool of 300,000,000 OKB — which were subsequently sent to a black-hole address for burning.
As of today, we have already burned a total of 28,548,715.55 OKB. The current OKB in circulation is 271,451,284.45 OKB.
The black-hole address for the token burn is as follows:
OKB ecosystem expansion
In order to continuously provide benefits to our millions of users, the OKB team has joined hands with dozens of businesses and other partners to foster the application of OKB on the OKX platform and within global partners’ ecosystems.
OKB's ecosystem continues to expand to cover more areas and has benefited long-term OKB users in a multitude of ways:
Expansion of platform privileges
As of today, the OKB team has built a total of 15 internal privileges based on the OKX platform for millions of users around the world. As an OKB holder, you can enjoy the following privileges when you trade on OKX:
1. Trading fee discounts
2. OKX Jumpstart
3. OKB Savings
4. Converting small balances to OKB
5. OKB margin trading (3x leverage)
6. OKB Buy-Back & Burn
7. Designated merchants
8. OKB trading
9. OKXChain ecological benefits
10. OKX DEX trading
11. C2C lending
12. Global partnerships
15. Benefits from token listings
Diverse ecosystem applications
Currently, the OKB ecosystem has developed 77 applications worldwide — covering payments, transactions, wallets, loans and financial management, technical security, tourism, life services, entertainment, social networking, electronic contracts and C2C services.
OKB holders can also enjoy first-class security services, mortgage lending services, various wallet services, online and offline shopping payment services, hotel reservation services and more, through the utilization of OKB.
As a distinguished OKB holder, you can access a diverse OKB ecosystem listed below:
Fiat Trading Channels
As of today, the OKB team has opened nine fiat trading channels — including the euro, Russian ruble, Korean won, Vietnamese dong and Indonesian rupee. More than 60 trading platforms — including Bitfinex and BitMax — added OKB trading pairs, covering 154 countries and regions.
The OKB team will continue to cultivate a strong connection with its global supporters while listening to their feedback for future improvements. It is committed to offering first-class services to users and creating strong synergies with multiple blockchain industry partners.
Dec. 2, 2020