The OKEx crypto exchange platform announced the launch of its main OKExChain network with 10 million OKT tokens available to early adopters.
According to an ad, The project had been in development for three years, over 10 versions of Testnet.
The mainnet implementation takes place in four stepsCurrently, the Genesis phase is two weeks until January 13, 2021. As part of the Genesis phase OKT, the chain’s native token will be available as a reward for use in the blockchain network.
The owners of OKB, the OKEx utility coin, You can use your tokens to receive OKT as a reward in the Genesis phase. According to the launch announcement, the Genesis phase will mine 10 million OKTs to initiate adoption.
Users who bet with OKB receive OKT in relation to their coin stocks. As part of the stakeout rules, OKEx stated that there are no minimum or maximum limits on activities.
At the end of Genesis, the second and third epochs of the main network will include stability test protocols and the introduction of the payout feature of OKT. This last feature is put to a vote among the validators in the chain.
The fourth epoch of the mainnet will have that Introduction of smart contract features to enable full compatibility with Ethereum. Comment on the start, OKEx CEO, Jay haosaid OKExChain is part of the company’s drive to improve the financial system of the future.
When tweeting on Monday Hao said: “We expect that further projects will be migrated, the current block room at ETH does not yet exist.”.
OKEx suffered from some organizational problems in late 2020. Freeze of withdrawals in October following the reported arrest of its founder. A month later, the platform resumed normal operations, followed by massive withdrawals by users who were previously pending.