OKEx Reports: 5.9 Million OKB Burned, Major Ecosystem Advancements

According to the OKB buyback and burn report data, released on 11 December, 2019, 5,945,273.91 OKB were burned between the dates of September 1 and Nov 30, 2019. OKB is an ERC-20 token created and managed by the Malta-based OKEx crypto exchange.

The buyback and burn plan was launched back in May for the currently circulating 300 million OKB and was made possible because of the 30% spot market transaction fee. From the inception of the process, 13,978,364.45 OKB has been burned.

A day earlier, the OKB ecosystem report for October – November 2019 was released. It highlighted that OKB now ranks among the top 20 cryptocurrencies by market capitalization internationally, providing a bundle of uses and listed on 5 major C2C markets globally.

The report showcased the 11 uses of OKB on OKEx, among them OKEx Jumpstart, OKB Trading market, and OKNodes. OKB supporters and designated merchants can enjoy trading fee discounts.

Additionally, OKB holders are allowed to purchase goods and services with the token owing to the partnerships the project has with businesses working in payment processing, market data, wallet, lending and wealth management, cybersecurity, travel, lifestyle and entertainment applications.

The ecosystem is a crucial achievement in the pursuit of mass adoption for the entire blockchain industry.

OKB has made international reach through the following means:

• Listing on OKEx C2C Market
• Listing on Bitsonic
• Listing on Probit in South Korea
• Listing on ALINIEX in Vietnam
• Listing on Bvnex in Vietnam
• Listing on Indodax in Indonesia

The buyback and burn report also detailed the development progress of OKChain and OKDex. OKChain’s testnet is to be launched soon and OKEx’s first defi app will be open for use at around the same time.