OKEx, one of the top cryptocurrency exchanges by trading volume, launched its platform token, OKB, with 10 trading pairs in April. Since then, the profit-share token has risen over 200% from its initial price of $1.49.
OKB pays holders what they call a “Happy Friday Bonus.” These bonuses reward users who held 10,000 OKB for the last week (7 days) with bitcoin. The latest reward paid out 0.01048211 BTC per 10,000 OKB, which is 85 USDT equivalent (BTC/USDT price as of 11th May).
According to a recent announcement, users on the OKEx platform have accumulated over 2 billion OKB in the past week.
OKB is one of a growing number of exchange utility tokens that provide investors with profit share rewards or other incentives. Similar to Binance (BNB), KuCoin has a native exchange token (KCS) that enables users and blockchain projects specific privileges. Trading in BNB allows for reduced transaction fees while investors holding KCS are able to earn a 30% daily profit share reward in addition to reduced fees.
OKB’s market cap is currently valued at $2.5 billion, which is over 50% larger than BNB’s market cap ($1.6 billion) and over sixty times higher than the market cap of Kucoin Shares ($43 million).