Dear valued customers,
we are pleased to announce that OKEx will be supporting OKB as a collateral option for our C2C loan functionality, accessible via both the web and the app version.
Our C2C loan functionality allows users to lend and borrow funds via the loan market, and starting from July 17, users will be able to pledge OKB as collateral for loans, along with BTC and ETH.
Here are the steps to pledge OKB as collateral for C2C loans:
1. Login to your OKEx account and navigate to Finance on top of the homepage or on the app, and then select C2C Loan.
2. In the next section, you can enter the amount you wish to borrow in terms of USDT (other currencies will be supported in the future) and select the supported collateral assets, including BTC, ETH and now OKB.
3. Finally, choose the term for the loan, the loan-to-value percentage and the daily interest before confirming your borrowing request.
Once your loan advertisement is issued, investors can view it in the loan market and invest their USDT to fulfill your request.
OKB is a globally available utility token issued by the OK Blockchain Foundation, and it is one of the fundamental components of the OKEx trading platform.
The token’s total supply is 300 million — of which, more than 20 million have been burned so far in eight rounds of the buy-back and burn initiative, leaving the current circulation just over 279 million.
In order to benefit OKB holders, the platform currently provides numerous benefits, including transaction fee discounts, OKB savings, OKB leverage trading, small balance conversion, OKEx Jumpstart, OKB buy-back and burn, and now C2C loan collateral.
Thank you for your continued support and we assure you our best services at all times.
July 17, 2020 (UTC)