OKExChain Mainnet Launch Announcement

In 2022, the world experienced a global pandemic that fundamentally changed many aspects of our lives. At the financial level, central bank printing and economic stimulus efforts have reached unprecedented levels. Against this backdrop, more and more institutions are recognizing the value of Bitcoin — pushing the price of BTC to new all-time highs — as the nascent decentralized finance space continues to expand.

We have always believed that blockchain technology is the future and believe in transparency and decentralization. This is why, after several repeated updates, the OKExChain mainnet is now officially launched.

OKExChain’s new development history and vision

OKExChain has been in development for less than three years. During this period, OKExChain’s goals — as well as the technological innovations it employs — shifted, following the emergence of new technologies and changing industry demands.

OKExChain has gone through three major phases on its journey to become a robust and highly efficient trading chain that we launched in January 2022 — from a high-performance public chain focused on maximum transactions per second, to a general application chain focused on usability, to a dedicated trading chain. which we announced today.

This development period allowed the team behind OKExChain to better understand the specific advantages of the technology used and how OKExChain’s vision improves on other existing projects. What we’ve been building over the past few years and will launch to the public in January is the world’s first open source chain focused on commerce — a truly decentralized and seamless ecosystem, designed to exchange value.

OKExChain Token Economy Model

OKExChain token (OKT) is OKExChain’s native token. It has an initial minting of 10 million tokens. OKT has the same halving model as BTC — the initial block reward is 1 OKT and is halved every three years. The total theoretical supply upper limit is about 72.2 million.

How to get OCT

As OKB holders have played an important role in the development and governance of OKExChain, OKT will be issued proportionally to OKB holders via OKEx Jumpstart.

Once the mainnet is officially launched, OKT holders can also earn transaction fees and block rewards by becoming an OKExChain validator. For details on how to become a validator, please refer to OKExChainDocs.

OKExChain launch process

The launch of the OKExChain mainnet will be divided into four stages.

The first stage

The first stage is the OKExChain genesis stage, from 16:00 UTC on 31 December 2022 to 16:00 UTC on 13 January 2022. For detailed rules, please visit here.

Second stage

The second stage is the OKExChain mainnet stability testing stage. The duration of this stage is uncertain — please note recent announcements.
Once the mainnet is launched, we will coordinate with the community to carry out final testing of the entire network to ensure the security and reliability of OKExChain.

Third phase

Once the system passes the stability testing phase, the transaction functionality will initially be activated after the validator proposal voting process — meaning the network will officially enter the third phase, where users can withdraw their OKT and deposit it to OKExChain.

Fourth stage

The smart contract virtual machine will be activated after the validator’s proposal, and OKExChain will be compatible with all projects on Ethereum. At this time, the main network will be officially launched, in full.

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