Summer has come and new exciting AMA sessions in SatoshiClub have started. Today we would like to tell you about the AMA session with our friends from the OKEx. The AMA took place on June 2 and our guest was OKB Chief Operator from OKex Exchange!
In this AMA Recap we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from SatoshiClub members
Serg: Hi! Welcome to Satoshi Club! Today AMA will be with OKEx.
Irina Kravchuk: Hi guys, @OKB_Operating_Officer welcome, how are you today?
OKB Operating Officer: Hi,everybody.Nice to meet you,so glad to see Satochi Club’s friends~
Serg: Please tell a little bit about yourself and make an introduction for OKEx.
OKB Operating Officer: Sure~
Good day to y’all~
I’am OKB Chief Operator from OKex Exchange. In the beginning of year 2020, we have enhanced OKB value through incessantly operations, as 700 million unissued OKB burnt, the 13th Jumpstart release, OKChain testnet and OKT launch. We’re happy to see hard work pays off, that OKB price rocketed to all time high to $7.441.
While hodl investors being excited about the OKB hyper surge, a lot of traders get interested in OKB and have many questions. It’s our pleasure to have this chance to talk with all OKEx supporters. Hope we can provide valuable info through this communication.
OKEx is a world-leading cryptocurrency exchange, providing advanced financial services to traders globally by using blockchain technology.
OKEx provides hundreds of token & futures trading pairs to help traders to optimize their strategy. We are also one of the top digital asset exchanges by trading volume, serving millions of users in over 100 countries.
Our BTC futures trade has nearly $1.5B of volume daily, and is widely recognized as the gold standard for the industry.Convert over 30 local currencies to crypto in minutes via Visa, Mastercard, and other convenient payment methods.
OKEx believes the blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. We strive to achieve something that changes the world and never stop to innovate and improve on our customer experience.
Serg: What are the benefits for hodling OKB?
OKB Operating Officer: OKB is the first
platform token to achieve full circulation in the world.
OKB conducts buying back and burning OKB each quarter.
OKB price increase is numer 1 among the coins and tokens within top 30 market
cap.
OKB holders can enjoy the dividends of OKEx development.
The holder of OKB will have the opportunity to become a super node on OKChain
and enjoy the dividends of future ecological construction of public chain.
In terms of additional rights within the OKEx trading platform, 14 application scenarios have been expanded. For example, regarding our trading fee discounts service, users only need to hold 500 OKB to the maximum holding of 2,000 OKB and can enjoy the maximum trading fee discount. And based on trading volume to enjoy discounts, we give the industry’s largest discount rate to our users.
Q1 from Telgram user @oluwamayowa06
Why does OKEx exchange have two types of tokens: OKT and OKB? What’s the difference between these two tokens, and the differences in their functions?
OKB Operating Officer: Not long ago when we launched OKChain testnet, we also promised to map 100% of the genesis blocks of OKT, the native token of OKChain, to OKB holders. OKB will soon be migrated to OKChain and no more OKB will be issued, so that holders can enjoy the rise in value as OKB entered absolute deflation. OKB holders can also run supernodes of OKChain and share the benefits of the ecosystem development.
But,OKT and OKB is NOT SAME.
OKB is OKEx’s platform token and has entered deflation period.
OKT is the native token of OKChain, and there is inflation every year.
We use the leading dual-token model to ensure that OKEx and OKChain can run
smoothly.
It is worth mentioning that OKB users can get 100% of the airdrops from the OKT
genesis block.
Serg: how much will the deflation period last?
OKB Operating Officer: Forever and always. In fact, we have no plans to stop.
Irina Kravchuk: But are all OKT mapped to OKB? What this really mean, that it’s the same number?
OKB Operating Officer: The creation block of OKT maps 100% to OKB users, but it does not mean that the number of OKT and OKB are the same.
Q2 from Telgram user @Javier106
Do you have any plans to attract non-crypto investors to OKEX and how? What are the measures to increase awareness of OKEX in non-crypto space?
OKB Operating Officer: I believe that users interested in cryptocurrencies will spontaneously and actively explore this field.
Of course, OKEx now also offers generous rewards to new users. Now, new users sign up for OKEx and buy $100 in cryptocurrencies to get a reward of $10 to $100. Everyone is welcome to experience.
Q3 from Telgram user @orrangelp
In the near future, Okex will have outstanding breakthroughs to become the perfect trading platform to overcome Binance or not. What will Okex specifically do to make the OKB currency pass in value compared to BNB?
OKB Operating Officer: In terms of product integrity, OKEx is already owning the most comprehensive exchange of digital asset product lines in the world. It now is capable of meeting the user’s multiple transaction demands for fiat currency, crypto-crypto, contracts, options, mining pools, wallets, DEX, platform token and so on.
In terms of platform technology support, OKEx continues to maintain its leading position in the world, and is currently upgrading its next-generation counter system. After the upgrade, the combined accounts and more functions will be released, which will provide global users with more stable, efficient, and convenient trading services.
Product technology has always been the core strength of OKEx. OKEx has always ensured the safety of user funds with excellent system performance and intelligent risk control. So far, OKEx has never had a user security incident, which is a quite proud.
At the same time, OKB serves as a utility token for OKEx’s platform. Its market performance also expresses the user’s recognition of the OKEx platform to a certain extent. There is no doubt that OKEx will give OKB unreserved continuous empowerment.
Serg: do you plan any launchpad where only OKB hodlers will be eligible?
OKB Operating Officer: Of course, we have our own Jumpstart event, the 13th period has just ended, and the opening price is 3 times the pre-sale price. Our next Jumpstart is about to start soon, welcome everyone to enter our website to know: https://www.okex.com/jumpstart
Q4 from Telgram user @erol1763
What is your view of someone manipulating the tokens in exchanges. What are the measures taken by Okex to prevent liquidity wash trading?
OKB Operating Officer: For the exchange, what we can do is: first, objectively and fairly introduce investment assets to users; secondly, provide a richer product line to users; thirdly, do objective and fair analysis and put Introduce the causes and consequences of more incidents to customers and help them analyze them. But we will not do anything excessive, which we believe violates the exchange’s neutral and objective values.
We are working on the latest decentralized exchange DEX. This week, there will be activities for developers, rewards are generous. Welcome to pay attention to OKEx official website.
Answer complete~
Q5 from Telgram user @endtimeprophet
As far as I’m concerned, OK CHAIN has been launched yet I still see ERC20 OKB tokens, can you explain more about the Swap Process and the UTILITY OF OKB tokens
OKB Operating Officer: The specific mapping rules will be announced when the main online, and now you can log in to DEX to receive the free OKT test coin: https://www.okex.com/dex-test
The UTILITY OF OKB tokens：
OKB is the first platform token to achieve full circulation in the world.
OKB conducts buying back and burning oKB each quarter.
OKB price increase is numer 1 among the coins and tokens within top 30 market cap.
OKB holders can enjoy the dividends of OKEx development.
The holder of OKB will have the opportunity to become a super node on OKChain and enjoy the dividends of future ecological construction of public chain.
Part 2 — live questions from the Telegram community
Q1 from Telegram user Hellkhaey
What are your plans to list OKB on other exchanges aside OkEx? How soon will that start?
OKB Operating Officer: Of course. OKB has been
listed more than 50 trading platforms, covering 141 countries and regions
around the world.
It has listed on Bitfinex and other internationally renowned fiat trading
channels, covering many mainstream currencies such as US dollar, Euro, Korean
won, Vietnamese dong, Indonesian rupiah.
In the future we will also list OKB on more exchanges. We would be glad to
notify you of this information in real time, and welcome to join the OKEx
community to learn: https://t.me/OKExOfficial_English
Q2 from Telegram user Hellkhaey
What do you have in OkEx that no any other exchange in the world has? What makes you unique?
OKB Operating Officer: In terms of product integrity, OKEx is already owning the most comprehensive exchange of digital asset product lines in the world. It now is capable of meeting the user’s multiple transaction demands for fiat currency, crypto-crypto, contracts, options, mining pools, wallets, DEX, platform token and so on.
In terms of platform technology support, OKEx continues to maintain its leading position in the world, and is currently upgrading its next-generation counter system. After the upgrade, the combined accounts and more functions will be released, which will provide global users with more stable, efficient, and convenient trading services.
Product technology has always been the core strength of OKEx. OKEx has always ensured the safety of user funds with excellent system performance and intelligent risk control. So far, OKEx has never had a user security incident, which is a quite proud.
At the same time, OKB serves as a utility token for OKEx’s platform. Its market performance also expresses the user’s recognition of the OKEx platform to a certain extent. There is no doubt that OKEx will give OKB unreserved continuous empowerment.
Q3 from Telegram user Dalmasca Blockchain
Many exchange still don’t have this feature, the feature is to swap left over tiny ballance of a token/coin that we just sell to some Coin than just left it there being useless, in the future will OKEX have feature to handle this problem?
OKB Operating Officer: OKEx has launched a small asset exchange, you can use this function when using OKEx
Q4 from Telegram user Srintiel
Will OKEx exchange become mainstream?? How are you going to compete with the popular exchange like Binance,Kucoin,Huobi,etc..???
OKB Operating Officer: Industry development is dynamic, so is competition.
We will learn from competitors about the good services they provide to users. But on the whole, OKEx’s biggest competitor is our own. To embrace change – accepting the challenges brought about by industry changes is OKEx’s innate mission.
Compared with traditional finance, the
entire digital asset volume is still very small, even less than 1/10.
This is not only OKEx, but also something that the entire industry needs to
construct for a long time.
In addition to continuously optimizing and upgrading product technology to increase market share.
OKEx will also work with all industry
participants to build the entire blockchain and digital asset industry to be
healthier and complete.
Only if the market share of the entire industry continues to increase
incrementally can all competitors grow together in a benign competitive
environment.
Q5 from Telegram user Jhonathan
How profitable is $OKB? What are it uses?
OKB Operating Officer: You can now use OKB to buy coffee in Singapore, and use OKB to withdraw money from ATMs in South Korea. Purchase goods in Korean convenient stores. OKB’s external application scenarios have reached 40, covering dozens of important areas such as payment, transactions, market software, wallets, lending and financial management, technical security, tourism, life services, entertainment, social networking, electronic contracts, O2O and so on.
Serg: Thank you for being here with us today!
Irina Kravchuk: I’m sure our community found a lot of interesting new stuff about oKex and OKB
We’ll open the chat in a few minutes
If you want, you can address a message to the community before we open it.
OKB Operating Officer:
Very happy to share with you today
As I introduced above, our newcomer registration benefits are in progress
Very happy to share with you, welcome everyone to pay attention to the development of OKEx and OKB, thank you.
PART 3 – Quiz Results
In the final part we would like you to check your knowledge in terms of OKEx. They’ve prepared 4 questions for this part, so everyone could be a part and answer. All the correct answers you will find at the bottom of this Recap. Enjoy!
Q1
What cant you do with holding OKB?
A.Pre-order OKEx Jumpstart New Listing
B.Earn OKB Saving Interests
C.Enjoy Transaction Fee Discounts
D.Participate in Binance Launchpad
Q2
How many times does OKB conduct buying back and burning?
Q3
Which anniversary was having a celebration in OKB March Report
Q4
How much transaction volume of OKB was it in March Report?
Answers:
1. D
2. 7 times
3. Second anniversary
4. 8.7 Trillion US dollars
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