OKEx officially released the second platform token OKT, the initial 10 million tokens will be all given to OKB holder

According to Wu Blockchain, a news site specializing in the Chinese cryptocurrency industry, the OKEx exchange officially released its second native token, called OKT today. This news excited the crypto community, especially OKEx users and OKB holders.

OKEx exchange has officially released its second native token, named OKT

It is known that 10 million OKB tokens will initially be airdropped to all OKB holders and these tokens will be mainly used for the OKB public chain in the future. This shows that OKEx participated in the public chain competition after Binance and Huobi.

OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges, and transaction fee payment — for decentralized exchanges and other DeFi applications built on the network. In its initial minting, the OKT genesis block will create 10 million tokens, which will be distributed to OKB holders who stake OKB via OKEx, starting Dec. 31, 2020.

OKT uses the same Halving model as Bitcoin, with an initial issuance amount of 10 million tokens. And every three years, the number of OKT in the block reward will be halved. Total circulation is approximately 72.2 million OKT. Of which, the initial 10 million OKT will be collected through OKB staking.

However, the number and distribution plan of OKT in the future has not been determined.

At press time, the OKB price is trading around $ 7.62, up slightly 2% over the past 24 hours.

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