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OKEx's public chain token "OKT" genesis issuance imminent, platform token OKB hits new all-time high in response

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After the incident where the private key manager was investigated by the public security, OKEx not only launched a series of compensation and reward plans, but also saw its platform token OKB reaching a historical high. The OKExChain mainnet is also about to launch, with the genesis issuance of its native token OKT set to begin at 00:00 on January 1st, Taiwan time.

Genesis Staking Mining Lasts for 14 Days

According to theannouncement, the OKT Genesis issuance will be distributed to OKB holders through OKEx's new coin issuance platform "Jumpstart" by staking OKB for mining. It will run from 00:00 on January 1st to 24:00 on January 14th (Taiwan time). Please note that OKB must be transferred to the funding account for staking, and the staked OKB can be unlocked at any time. Details are as follows:

  • Total Genesis issuance: 10 million OKT
  • Halving cycle: Every three years
  • Block rewards: 1
  • No minimum or maximum staking limit
  • Rewards can be withdrawn at any time
  • KYC verification required
  • Calculation of OKT mining quantity

Amount of OKT that users can mine per hour:

Individual OKB staking amount / Total staking amount x OKT release amount per hour

For example:

  • User stakes 100 OKB
  • Total staking amount is 100,000
  • Release 10,000 OKT per hour

User can receive per hour:

100 / 100,000 x 10,000 = 10 OKT

OKT, short for OKExChain Token, follows a halving model similar to Bitcoin, with an initial block reward of 1 OKT. With halving every three years, the theoretical total supply is around 72.2 million. The official claim is that OKExChain will be governed by OKT holders, using a DPOS consensus mechanism, allowing anyone to campaign for super nodes.

Future plans include compatibility with all Ethereum smart contracts, developing cross-chain, decentralized Swap, derivative trading, and other features, aiming to build it as a high-performance trading public chain.

Boosted by the mining reward incentives, OKB has broken its February high, reaching a historic high of $8.1.