OKB

OKB is a worldwide utility token that enables OKX users to access several features of the crypto exchange. Specifically, OKB computes and pays trading fees, provides users access to voting and administration on the site, and rewards users for staking it.Mingxing ‘Star’ Xu founded Okcoin, a Chinese cryptocurrency exchange, in 2013. He then created a separate Malta-based exchange called OKEx in 2017. On 24 July 2017, OKEx completed an initial coin offering (ICO) that raised more than $100 million for the exchange. As a result, OKEx launched OKB, an ERC-20 token that is used for paying transaction fees on the exchange. Jay Hao joined OKEx as their CEO in November 2018. On 18 January 2022, OKEx rebranded into OKX. “We’ve dropped the ‘E’ from our name because we’re so much more than an exchange,” Hao said in a statement about the rebrand.