Dear valued customers,
OKB has launched the 8th round of Buy-back & Burn between Mar 1 and May 31, 2020. The amount of OKB bought back and burned was 3,509,874.52 OKB, equivalent to USD 19,000,000 (according to the OKB price on June 2, 2020).
Since May 4, 2019, we implemented Buy-back & Burn for the currently circulating 300 million OKB. 30% of the spot market transaction fee was used to buy back OKB from the market and being sent to a black-hole address to burn.
As of today, we have already burned a total of 20,671,583.58 OKB, the current OKB in circulation is 279,328,416.42 OKB.
Following the launch of the OKChain testnet in February, we decided to burn the 700 million unissued OKB and promised no additional OKB will be issued in the future. Since then, OKB has entered absolute deflation and became the world's first fully circulating platform token.
The black-hole address for coin burn is as follows:
June 3, 2020 (UTC)