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OKX Statement on OKB

Updated: 8 November 2023

The facts are:

  • OKB is a utility token used for fee discounts, access to rewards and participate in Jumpstart projects by OKX users on the OKX exchange.

  • The maximum circulating supply of OKB is 300 million, with some bought back and burned via burn programs from time to time - all verifiable on Etherscan.

  • OKX does NOT use OKB for treasury, collateral or leverage. This has always been our policy

OKB is a utility token issued by OK Blockchain Foundation in 2018, and there was no ICO or private fundraising. The OK Blockchain Foundation has since ceased its involvement with OKB as all 300 million OKB have been issued. OKX is now the entity that primarily oversees the OKB ecosystem, including conducting burn programs from time to time.

A year after OKB was launched, our research and analysis showed that more than 95% of all OKB trading occurred on the OKX exchange, so we moved the majority of OKB held in our OKX hot wallet to a number of cold wallets, which is consistent with our storage policies and procedures. All tokens held by OKX cold wallets are protected by our industry leading security features, including air-gapping and multi-signatures. These tokens are in circulation as they are available to be traded on the exchange and available for withdrawal.

OKB, like every token has its own unique strategy, and this includes issuance, safety and tokenomics. OKX is relentlessly committed to innovation in crypto and Web3, and our customers are our number one priority. For more details on OKB, please visit: https://www.okx.com/okb. Thank you for your support. Game on!

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