OKB - is a cryptocurrency issued by OK Blockchain Foundation. OK Blockchain Capital is the venture capital fund of OKX(name changed recently) , a global cryptocurrency exchange, based in Seychelles.
It's a utility token for the exchange OKX, just like BNB is for Binance, KCS for KuCoin, CRO for Crypto.com , to name a few.
It's a deflatory token, I'll tell you why:
- 30% of all transaction fees is used to buy and burn OKB by OKX.
And users get discount on transactions just like other centralised exchanges.
It's an ERC 20 token, it might be migrated to it's own chain.
It's used for voting while choosing a security validator.
It's also used for IPOs , you can pre-order coins with the token. Which may be useful.
The best part:
With a hard 🧢 (max Supply) of 1 billion tokens and being constantly burned, it appreciates the value of the token.
Think of it as a supply chain, higher the scarcity- higher the price. I think it's at a discount now and you should bag some in the bear market (if it comes) or whenever you have some spare money which you are willing to lose (yeah crypto space is unpredictable) .
Don't FOMO , always DYOR and don't spread FUD.