January 23, 2021

OKEx announces launch date for OKExChain mainnet

OKEx announces launch date for OKExChain mainnet

Bitcoin exchange OKEx has officially set a mainnet launch date and shared project details.

OKExChain is set of open source blockchain projectscode developed by OKEx to facilitate the development of large-scale commercial applications based on blockchain technology. The blockchain will give each participating node the same rights, allowing users to seamlessly run various decentralized applications, issue their digital assets, create their own digital asset trading pairs, and trade freely.

OKEx announces launch date for OKExChain mainnet

According to the post, the network will be launched to the general public in January in four phases:

I - OKExChain genesis from 16:00 UTC on December 31, 2020 to 16:00 UTC on January 14, 2021;

II - checking the stable operation of the OKExChain main network;

III - launching the transaction and OKT deposit function on OKExChain;

Stage VI - launch of the smart contract virtual machine.

OKExChain will have its own utility token, the OKExChain Token (OKT) ecosystem, with a limited emission of 10 million and a Bitcoin halving model.

After the official launch of the mainnet, OKT holders can also earn transaction fees and block rewards by becoming OKExChain validators.

The issued new OCT token will be received by all OCT holders through the Jumpstart platform.

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