OKEx Sets Date for OKExChain Mainnet Launch

The cryptocurrency exchange OKEx has disclosed the timeline and details for the launch of the OKExChain mainnet.

After 3⃣️ years of hard work, @OKEx is proud to bring you the next big thing in the #crypto industry: #OKExChain, the world’s first trading chain: a decentralized, borderless, blockchain technology-based ecosystem for exchanging value.

Details: https://t.co/fYm0J22dei pic.twitter.com/VDF6EXrUgq

— OKEx (@OKEx) December 29, 2020

The rollout is planned in four stages, with a capped token supply. OKExChain’s monetary policy contemplates a halving.

The first phase involves the so-called “genesis stage” of OKExChain. It will run from December 31, 2020 to January 14, 2021.

In the second phase, developers will test the stability, security and reliability of OKExChain. After that, developers will make transactions in the network available — users will be able to deposit OKT tokens on OKExChain.

The fourth phase involves the enabling of the smart-contract virtual machine. The OKExChain network will become compatible with Ethereum-based projects. This step will mark the full-scale launch of the mainnet.

The OKExChain economic model

OKExChain (OKT) features a bitcoin-like monetary policy, envisaging a halving. The initial block reward is 1 OKT and it halved every three years.

How to obtain OKT

“Because OKB holders have played an important role in the development and governance of OKExChain, OKT will be distributed proportionally among OKB holders via the Jumpstart platform,” the exchange announced.

After the mainnet launch, OKT holders will be able to collect transaction fees and rewards for validating blocks on OKExChain.

Initial issuance is capped at 10 million OKT. The theoretical supply cap stands at 72.2 million tokens.

As reported on December 18, The Graph launched a decentralized data indexing protocol on the Ethereum mainnet.

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