Dear valued customers,
We have received plenty of feedback from thousands of OKB supporters since we suggested the OKB “Buy-back & Burn” scheme on Apr 28, 2019. We decided to make the following adjustments after consideration:
Starting May 4, we have implemented Buy-back & Burn for the now circulating 300M OKB. We will use 30% of the transaction fee from the spot market to buy-back OKB and send them to a ‘black hole’ address to burn. From May 4 to May 31, 2019, we will buy-back and burn OKB every week and announce the details every Friday. Starting Jun 1, we will implement buy-back & burn every 3 months and announce the details within 1 week of the burn. (OKB black hole address: https://etherscan.io/address/0xff1ee8604f9ec9c3bb292633bb939321ae861b30#tokentxns)
The remaining 700,000,000 OKB will be locked until 2022. We will ask for all OKB supporters’ feedback six months prior to the release.
By reducing the total supply in circulation, we hope OKB supporters can benefit from the increase and stabilization of value of OKB. The amount of OKB acquired through Buy-back & Burn between May 4 and May 31, 2019 is 1,929,043.01 , which have already been sent to the black hole address.
Regards,
OKX
May 10, 2019
