OKB Price (OKB)

OKB hit the scene in March 2018, about a year after the OKEx crypto exchange launched in Malta. The company later rebranded to OKX.

OKB is the backbone of the OKX ecosystem. Holding OKB and maintaining a 30-day trade volume can unlock major discounts on trading fees for spot and futures markets. Plus, OKB plays a role in voting for new coins to be listed on the platform. In the future, OKX plans to make OKB the go-to for transaction fees on its OKDEX and OKChain networks.

OKB runs on OKChain, a blockchain tailor-made for OKX's operations. OKChain focuses on connecting digital ecosystems to make trading smoother and boost OKB's visibility within the OKX community. A big milestone? Integrating the Bitcoin Lightning Network in 2021, which leveled up transaction speed and efficiency.

OKB comes from OKX, which is owned by OK Group. The company was started in Beijing in 2017 by Star Xu, but they moved their HQ to Malta in 2018.

The exact max supply of OKB isn’t available, but the current circulating supply is 60 million tokens. A portion of the tokens is set aside for community marketing and promo efforts.

OKB is a deflationary token, meaning it gets more scarce over time. Every three months, 30% of the spot trading fees on OKX go into a buyback and burn program. This means OKB is bought from the market and sent to a burn address, keeping the token's supply limited and protecting its value. Plus, OKX lets traders use margin, boosting their buying power on the platform.

OKB isn't available for purchase on EXMON right now, but you can still check the live OKB price on the platform. For more details on how to buy OKB, you can check out our guide on purchasing OKB (OKB).