What is OKExChain?
OKExChain is a set of open-source public chain projects developed by OKEx, which achieved both high performance and decentralization. It aims to promote the development of trading services based on blockchain technology.
As an open-source public chain ecosystem, OKExChain allows users to launch a variety of decentralized applications, issue their digital assets, create their own digital asset trading pairs, and trade freely. Any user can campaign for a network validator, participating in the community development. Meanwhile, it introduced Ethereum Virtual Machine and OKEx cross-chain gateway, and will also be compatible with IBC cross-chain solution of Cosmos.
Users can convert their tokens, and interact with others in various decentralized apps on OKExChain to make joint efforts to build a value-added ecosystem.
What is the useage or value of OKT?
OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges and transaction fee payment — for decentralized exchanges and other DeFi applications built on the network.
Use of system resources:
An application running on the OKExChain network requires the chain to allocate certain resources. OKExChain charges a transaction fee for resource usage.
Stake OKT to become validator, and earn block rewards proportionally according to votes they get, click to check validator details.
OKT holders obtain voting rights by staking their tokens. One address can vote for up to 30 different validator candidates, and the number of votes for each validator candidate that the address has supported depends on the amount of OKT the address has staked.
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