Yesterday, as Bitcoin dipped below the $10,000 mark, cryptocurrency exchange OKEx announced the official launch of its public blockchain OKChain and the testnet for its decentralized exchange (DEX), OKEx. Concurrently, the platform's native token OKB skyrocketed by 40% following the announcement of burning 700 million unsold tokens. (Peak was reached at noon on the 11th; at the time of writing, it has retracted slightly to $5.4.)
Key Highlights
- OKT as Native Token: OKChain will introduce OKT as its native cryptocurrency.
- Absolute Deflation Era: The OKEx team will no longer reserve OKB, declaring an era of absolute token deflation.
OKEx Testnet Goes Live
Originally announced in late 2019, OKEx revealed plans to launch OKChain and its decentralized exchange OKDEX in 2020.
The testnet enables users to:
- Issue custom cryptocurrencies on OKChain.
- Create personal decentralized exchanges.
- Add new trading pairs and assets.
Additionally, OKChain introduces innovative features such as:
- Multi-chain parallel development.
- Sharding.
- Data layering.
- Ecosystem-driven competition to advance the crypto industry.
Technical Details
OKChain employs a DPoS consensus mechanism and will issue OKT as its native token. OKT rewards will inflate annually by 1%–5%, with 100% of the mainnet supply airdropped to OKB holders upon launch.
OKB Tokenomics
In its official announcement, OKEx confirmed the burning of 700 million unsold OKB tokens, stating:
"OKB will enter absolute deflation—no team allocations, all buybacks sourced from secondary markets."
Token Metrics:
- Initial supply: 300M OKB.
- Burned to date: 13,978,364 OKB.
- Circulating supply: 286,021,636 OKB.
- Price at press time: $5.6 (46.45% 24-hour surge).
👉 Track OKB’s live price action here
Historical Performance
- 2019 ROI: OKB led platform tokens with 317.9% returns, outperforming HT (170.8%) and BNB (121.4%). Bitcoin trailed at 121.04%.
- 2020 Momentum: The latest burn and testnet news propelled OKB’s 2020 gains.
FAQ Section
1. What is OKChain’s primary use case?
OKChain enables DEX creation, token issuance, and cross-chain interoperability, targeting DeFi and ecosystem scalability.
2. How does OKB benefit from OKT?
OKB holders receive OKT airdrops at a 1:1 ratio when OKT launches, incentivizing long-term holding.
3. Why did OKB surge 40%?
The burn reduced supply, while the testnet announcement boosted demand, creating a bullish feedback loop.
4. Is OKB a good investment now?
While past performance is strong, crypto investments carry high volatility—assess risk tolerance before investing.
👉 Learn more about OKEx’s ecosystem
Final Thoughts
OKEx’s dual announcement—OKChain’s testnet and OKB’s deflationary shift—signals aggressive moves into DeFi and tokenomics innovation. With OKB’s historical outperformance and renewed scarcity, traders are watching closely.
For real-time updates, follow OKEx’s official channels.