Dear valued customers,
April 28, 2019 marks the first anniversary of OKEx's global utility token, OKB. Since launched a year ago on our spot market, OKB has gained the support of over 1 million users from around the world, accumulating a trading volume of over 15.6 billion OKB. Also, a total of US$212 million-equivalent bonus has been rewarded to our OKB holders through the Happy Friday Program.
The reason why OKB has not been launched on any blockchain is because of the secret development of our own public chain - OKChain. In view of our community's calling for launching OKB on a public blockchain, we have decided to launch the circulating 300 million OKB on the ERC20 network, and withdrawals will be open on 11:00 April 29, 2019 (CET, UTC+1). Smart contract address: https://etherscan.io/token/0x75231f58b43240c9718dd58b4967c5114342a86c
After the launch, users can withdraw their OKB to any ERC20-compatible wallets. You may also consider moving your OKB into our recently launched cold wallet that is built upon a multi-layer security system. The cold wallet can be accessed through the latest version of OKEx App and it supports most ERC20 and mainstream tokens. (Reminder: DO back up your seed phrase, which is the ONLY way to retrieve your assets in the wallet. It is also noteworthy that any OKB withdrawn to the OKEx cold wallet or other wallets will not be able to account for the Happy Friday Program.
As announced, the lockup period of the remaining 700 million of OKB will be extended from 2020 to 2022. We will update the unlocking schedule 6 months prior to 2022.
On the other hand, the construction of OKChain is now in the final stage. The OKChain mainnet is expected to launch in June, 2019. The OKB-ERC20 will be swapped to the OKBChain once we confirm the network's stability. By the time of the swap, OKB will be the only token based on OKChain. The token can be utilized for fees settlement and all DApps developed on OKChain.
At last, we have recently received plenty of feedback from our users about replacing the Happy Friday Program with an OKB "Buy Back & Burn" scheme. Considering that some OKB holders will not be able to enjoy the Happy Friday bonus with their OKB withdrawn to wallets and in order to give back the most to the community, we are currently reviewing the feasibility of such approach and the impacts it may pose on the OKB ecosystem. At the same time, we would appreciate any feedback from our users to help us improve our ecosystem. Please do not hesitate to tell us your thoughts on our social channels.
Apr 28, 2019