OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that the 10th round of Buy-Back & Burn of its adopted global utility token, OKB, issued by the OK Blockchain Foundation, has been successfully completed. In this latest record-setting round, an additional 10% of OKB was added to the burn, making it the largest burn volume to date.
The total number of OKB bought back and burned from the secondary market between Sept. 1 and Nov. 30 was 4,060,773.48 OKB – equivalent to $22,050,000 – and has been transferred to a dedicated black-hole address. Starting on May 4, 2019, the OKB Buy-Back & Burn program has already seen a grand total of 28,548,715.55 OKB permanently removed from circulation, with a current circulating supply of 271,451,284.45 OKB.
The program highlights OKEx’s commitment to providing OKB holders with a true deflationary platform token with a continually reduced supply. This is particularly pertinent at a time when many global fiat currencies are witnessing unprecedented amounts of quantitative easing that many fear will lead to widespread inflation.
OKB holders on the OKEx exchange can now benefit from a total of 15 internal privileges when trading on the platform. These range from discounted trading fees and OKB margin trading to exclusive early access to initiatives such as OKEx Jumpstart Mining, C2C lending, OKB Savings, voting rights and more.
Externally, the OKB ecosystem has developed as many as 77 different user applications worldwide, covering a wide range of services from payments, loans and financial management to technical security, tourism, life services, entertainment and social networking. The OKB team has also opened nine fiat trading channels – including the euro, Russian ruble, Korean won, Vietnamese dong, and Indonesian rupee. OKB is also available on more than 60 trading platforms, including Bitfinex and BitMax, covering 154 countries and regions.