What is OKB?

OKB is a utility token launched by OKEx, a cryptocurrency exchange established by the OK Blockchain Foundation. Initially issued on the ERC20 protocol, the total supply of OKB is set at one billion tokens, with 600 million allocated for distribution to OKEx customers for community building and marketing purposes. The remainder will be locked for a period of one to three years.

The company has stated that it will not conduct an initial coin offering (ICO) or public fundraising. Future plans include transitioning the token to the official OK chain and expanding its use beyond the OKEx platform to other related projects.