Dear valued customers,
Following the launch of the OKChain testnet in February, we decided to burn the 700 million unissued OKB. Since then, OKB has entered absolute deflation and become the world's first fully circulating platform token.
At OKX, we uphold the belief of generating ever-growing value for users with actions. To this end, we have been spending our revenue on the OKB Buy-back & Burn scheme to give back to all OKX supporters. The bought-back and burned OKBs all come from the secondary market.
The seventh round of buy-back & burn was initiated from Dec 1, 2019 to Feb 29, 2020. The amount of OKB bought back and burned is 3,183,344.61, equivalent to $17,500,000, which has been sent to the black-hole address for coin burn.
The OKB Buy-Back & Burn program was initially launched on May 4, 2019, OKX started to buy back OKB tokens from the original supply of 300,000,000 OKB every 3 months according to the seasonal market and operating performance — which were subsequently sent to a burning address that nobody can access. A total of seven rounds of Buy-back & Burn has been executed with the total of 17,161,709.06 OKB burned. The current circulation is 282,838,290.94 OKB.
The Black Hole Address to Burn OKB:
Recently, the OKB ecosystem has expanded both internally and externally of the platform. Highlights are as follows：
On the OKX platform, we have launched OKB Savings service to meet users’ growing demand for trading and earning.
Externally, we have established collaborations with a total of 35 partners around the world, covering dozens of daily scenartios such as payment, transactions, trading service software, wallets, loan & finance, cybersecurity, tourism, lifestyle, entertainment, social networking, e-contracts, O2O, and games.
The globalization of OKX is also accelerating. OKB is now available on 8 fiat gateways to trade with US dollar, Euro, Korean won, Vietnamese dong, Indonesian rupiah, etc., and listed on over 50 trading platforms that encompass 141 countries and regions.
Every step of the progress we have achieved is made possible only thanks to the support of our dear users. In order to share the fruit with our users, we have carried out 27 community events, including campaigns, AMA, and airdrops.
Creating ever-growing value for users is our mission. In the future, we hope to hear more from you about your views on the development of OKB.
Once again, thank you for your continued support of OKB. As always, we will continue to provide first-class services and share the fruit of our achievment with all supporters and partners. If you have any opinions and suggestions, please feel free to contact us:
The OKB Team
Mar 2, 2020