What is OKB?
OKB is an exchange token of a major international cryptocurrency platform's ecosystem. It performs the same role as other exchange tokens: connects users with platform products and provides economic benefits.
How it works
OKB holders receive discounts on trading commissions, priority access to token initial offerings, and other privileges. The token also serves as gas in the associated Ethereum-based Layer 2 network. A key element of the model is burning: a significant portion of the supply was destroyed, and emissions are capped at a fixed volume.
Pros and cons
- Pros: practical utility for exchange users, deflationary mechanics, application in Layer 2 network.
- Cons: value tied to the success and reputation of a single exchange, regulatory risks of exchange tokens, limited use outside the ecosystem.