Question 1

What's Today's OKB Price?

Accepted Answer

OKB is currently priced at A$ 137.85 and it has decreased by -4.91% within the last 24 hours.

Question 2

What Exactly is OKB?

Accepted Answer

OKB is a utility token that was launched by OKEx, the 2nd most popular cryptocurrency trading platform worldwide. It was issued by the OK Blockchain Foundation. The token operates on the ERC20 protocol. The total available supply of OKB is capped at a billion tokens (1,000,000,000), with 60% of the supply allocated to OKEx customers. This distribution model allows for community building and marketing campaigns. The OKB token did not come into existence through an Initial Coin Offering (ICO) or public fundraising.

Question 3

Who Issued the OKB Token?

Accepted Answer

OKB was issued by the OK Blockchain Foundation under the initiative of OKEx, a leading cryptographic exchange platform. The OK Blockchain Foundation maintains the token's operations and ensures its wide application in various blockchain-related projects.

Question 4

How Does OKB Function?

Accepted Answer

OKB is designed to work on the OKEx trading platform and other related projects. An interesting thing to note is that OKB was initially launched on the ERC20 protocol, but OKEx has announced plans to transition the token to its official blockchain - the OK Chain, in the future.

Question 5

What's Unique about the OKB Token?

Accepted Answer

What stands out about the OKB token is its role as a utility token. It has been developed for the specific use on the OKEx trading platform. One unique aspect of the OKB token is that instead of a traditional ICO or public fundraising, OKEx chose to distribute a significant portion of these tokens (600 million out of 1 billion) to customers for community building and marketing campaigns. The rest of the tokens are locked up for a period of 1 to 3 years.

Question 6

What are Some Core Aspects of OKB's Technology?

Accepted Answer

The OKB token originally made use of the ERC20 protocol. The ERC20 protocol is a standard for tokens on the Ethereum blockchain, featuring functions that enable the approval of transactions and understanding of token balances. However, OKEx has plans to shift OKB onto their own chain, the OK Chain. This shift is intended to allow more flexibility and applicability of the token to various projects.

Question 7

How Much OKB is Currently in Circulation?

Accepted Answer

At present, approximately 40% of the total one billion OKB tokens are in circulation. That equates to around 21.0M tokens. The rest are locked up for a period ranging from one to three years as part of the token's unique distribution model.

Question 8

Will There Ever be More OKB Tokens?

Accepted Answer

The total supply of OKB tokens is capped at 1,000,000,000. There will never be more than a billion OKB tokens, which mirrors the scarcity aspect that is common to many digital currencies.

Question 9

Where Can I Buy OKB Tokens?

Accepted Answer

OKB tokens can be purchased on numerous exchanges, including LBank, CoinEx, Indodax, Gate.io, among others. These tokens were issued with the aim to be applicable not only on OKEx’s platform but also on other related projects.

Question 10

Is it Safe to Invest in OKB Tokens?

Accepted Answer

When investing in any digital currency, including OKB, it's always important to do your own research. Take into account the volatility of the crypto market and consider the specific case of OKB - its close connection with the OKEx platform and the fact that a significant amount of the tokens are locked for a certain period of time. Do take into account these aspects when making a decision about investing in OKB.

Convert OKB to AUD

Try our Crypto Pro app