OKEX

What is OKT? OKT is the native token of the OEC ecosystem, providing immediate utility and benefits — such as voting rights, staking privileges and transaction fee payments — for decentralized exchanges and other DeFi applications built on the network. The OKT genesis block contains an initial minting of 10 million OKT, which will be distributed to OKB holders who stake their OKB on OKEx Jumpstart. OKT has the same halving model as Bitcoin, where its block reward is cut in half roughly every three years. The block reward is 0.5 OKT and the theoretical upper limit of OKT's total supply is about 41.69 million. 1. Use of system resources: An application running on the OEC network requires the chain to allocate certain resources. OEC charges a transaction fee for resource usage. 2. Staking: Stake OKT to become a validator, and earn block rewards proportionally according to votes.Learn more about validators. 3. Voting: 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.