How does OKB work?
OKB is a blockchain-based cryptocurrency that works on the Ethereum network.
It is an ERC-20 token, meaning it follows the same rules and regulations as other tokens on the Ethereum network. OKB is used to pay for services and products within the OKEx ecosystem, such as trading fees, listing fees, and other services. OKB also serves as a governance token for OKEx’s decentralized autonomous organization (DAO).
This means that holders of OKB can vote on decisions made by the DAO, such as which projects to list on the exchange or which new features to add. The more OKB a user holds, the more voting power they have in the DAO. OKB can also be used to access exclusive benefits within the OKEx ecosystem.
These benefits include discounts on trading fees, access to special events and promotions, and even rewards for participating in certain activities. Additionally, users can use their OKB tokens to purchase goods and services from merchants who accept them as payment. Finally, users can also earn rewards by staking their OKB tokens in a staking pool.
This allows users to earn passive income from their holdings while helping secure the network at the same time.
